Contract recruitment in Asia has not been as common as it has been in many parts of the world, but this is changing. Traditionally, employers and employees have opted for more stable relationships where skills are honed over time and relationships that span careers are built. This has changed, and nowhere is it more evident than Hong Kong.
The workforce is more mobile and agile than ever before, and employers are being forced to respond to market conditions in a scalable and flexible fashion. Headcount strategies have been reviewed and redefined in many of Hong Kong’s banks and financial institutions, slowing down the recruitment process for permanent roles and putting pressure on existing employees to absorb any extra workload.
Enter the contractor. Hiring a contractor is typically a much faster process than hiring additional permanent headcount, even if the budget is there. It can also be more cost effective. Organisations are able to hire the skills they need for the project in hand however long or short the timeframe. What’s more, the agency takes on the responsibility of finding and undertaking background screening the ideal contractor for the role, managing their contract and pay and ensuring any visas and compliance issues are addressed. Contractors begin and end their time with an organsiation under the responsibility of the agency, in line with industry best practices and the Hong Kong Employment Ordinance. In short, the cost and liability of the contractor rests solely with the agency.
Why do professionals choose to contract?
There are many reasons why highly skilled and ambitious professionals choose contract work. More often than not, they have opted to specialise in a very specific area and build a depth of experience that is difficult to replicate by permanent employees. Contractors tend to work with a greater focus on the task in hand and are comfortable meeting exacting standards of output and achieving targets. On completion of projects or predefined tasks they then have the mobility to move internally within the organisation and having picked up new skills and knowledge can advance their career externally. As a bi-product of mobility, contractors increase their value and fast track their careers in comparison to their permanently employed counterparts. Often professionals will cite flexibility in location and work life balance as reasons to contract, and these are attractive benefits. In reality the real benefit is that they feel more in control of their career choices.
How to employ a contractor with Aquis Search?
We work collaboratively with our clients to ensure that we source leading talent, applying the same best practice and professional standards to our search for contractors as we do for permanent hires. There is no up front fee, and the successful candidate will sign a contract with us and we will continue to manage their pay and all administration relating to their employment. Once they have commenced a placement, we maintain regular contact with both the client and the contractor to ensure the relationship is overseen from start to finish.
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