![[Japan] Majority of businesses have plans to hire staff in next 6 months](http://gpa.net/cdn/shop/articles/bigstock-Young-Asian-Married-Couple-Wor-231643450_1200x.jpg?v=1701668787)
According to new research, more than 60 per cent of Japanese businesses have hiring plans within the next six months, SIA reports.
The report - from recruitment firm Morgan McKinley - revealed that 67 per cent of companies anticipated adding staff in that time frame.
However, Morgan McKinley’s 2024 Japan Salary Guide stated that organisations with plans to hire are facing steep competition with 90 per cent of respondents saying hiring was “very” or “quite” competitive in 2023.
The research surveyed 650 businesses and 3,400 professionals, looking at companies’ hiring intentions for 2024, the key motivators for job changes and salary expectations.
Going forward, 42 per cent reportedly expect the “lack of skilled candidates available” to be the greatest recruitment challenge in 2024, followed by “no sign-off for headcount” at 15 per cent.
“With a continually weak yen, exports have been aided, and there has been an uptick in inbound tourism, fueling hiring across some industries,” Lionel Kaidatzis - managing director of Morgan McKinley Japan - said in a press release.
“With fewer headcount approvals, clients have raised the bar on the quality of talent they want to hire, making the hiring of top talent even more competitive given the ongoing shortage.”
From the candidate perspective, one in three professionals in Japan (34 per cent) intend to look for new jobs in the next six months, according to the guide. A majority of workers are reportedly displeased with their benefit packages; 58 per cent said they were “neutral,” “dissatisfied” or “highly dissatisfied.”
The top five benefits being sought are pension (above statutory requirements), bonus, employee stock options, working from home and flexible working hours.
Better pay was the most common reason for candidates hoping to change jobs, at 44 per cent. Forty-six per cent of professionals in Japan are optimistic about getting a pay bump in 2024, and 55 per cent of employers intend to raise salary offers in 2024 for certain in-demand roles, according to the 2024 Japan Salary Guide.
Mr Kaidatzis reportedly noted that the Japanese government had limited success in accelerating wage increases; a problem made worse by inflation and foreign exchange rates, which have reduced consumer spending power.
Flexibility continues to be an employee priority. The guide shows that 62 per cent of organisations are asking staff to be in the office more regularly than a year ago yet half of employee respondents want to work in the office for just one or two days a week.
Source: SIA
(Quotes via original reporting)
According to new research, more than 60 per cent of Japanese businesses have hiring plans within the next six months, SIA reports.
The report - from recruitment firm Morgan McKinley - revealed that 67 per cent of companies anticipated adding staff in that time frame.
However, Morgan McKinley’s 2024 Japan Salary Guide stated that organisations with plans to hire are facing steep competition with 90 per cent of respondents saying hiring was “very” or “quite” competitive in 2023.
The research surveyed 650 businesses and 3,400 professionals, looking at companies’ hiring intentions for 2024, the key motivators for job changes and salary expectations.
Going forward, 42 per cent reportedly expect the “lack of skilled candidates available” to be the greatest recruitment challenge in 2024, followed by “no sign-off for headcount” at 15 per cent.
“With a continually weak yen, exports have been aided, and there has been an uptick in inbound tourism, fueling hiring across some industries,” Lionel Kaidatzis - managing director of Morgan McKinley Japan - said in a press release.
“With fewer headcount approvals, clients have raised the bar on the quality of talent they want to hire, making the hiring of top talent even more competitive given the ongoing shortage.”
From the candidate perspective, one in three professionals in Japan (34 per cent) intend to look for new jobs in the next six months, according to the guide. A majority of workers are reportedly displeased with their benefit packages; 58 per cent said they were “neutral,” “dissatisfied” or “highly dissatisfied.”
The top five benefits being sought are pension (above statutory requirements), bonus, employee stock options, working from home and flexible working hours.
Better pay was the most common reason for candidates hoping to change jobs, at 44 per cent. Forty-six per cent of professionals in Japan are optimistic about getting a pay bump in 2024, and 55 per cent of employers intend to raise salary offers in 2024 for certain in-demand roles, according to the 2024 Japan Salary Guide.
Mr Kaidatzis reportedly noted that the Japanese government had limited success in accelerating wage increases; a problem made worse by inflation and foreign exchange rates, which have reduced consumer spending power.
Flexibility continues to be an employee priority. The guide shows that 62 per cent of organisations are asking staff to be in the office more regularly than a year ago yet half of employee respondents want to work in the office for just one or two days a week.
Source: SIA
(Quotes via original reporting)