ADDRESSING TECH RECRUITMENT CHALENGES IN JAPAN
KEY ACTIONS FOR BUSINESS LEADERS AND PROFESSIONALS IN 2024
Japan, 2 July 2024 – Changing consumer preferences, disruptive technology and a challenging economic landscape will influence tech recruitment strategies in 2024, according to Hays, the global leader in workforce solutions and specialist recruitment.
In their latest report, The Inside Story of Technology, Hays breaks down technology trends in Japan and explores valuable perspectives on the challenges and opportunities leaders and professionals encounter in today's dynamic business environment.
Businesses in Japan today face a candidate short market, with a lack of qualified tech professionals able to service business needs. Established professionals with the credentials and skills to satisfy tech requirements today are at a premium.
Even so, candidates find themselves facing wage stagnation brought about by tightening budgets due to conservative economic forecasts, on top of a perceived lack of stability.
“We are seeing more hiring managers offering short-term contracts to practically assess talent before converting them to permanent hires,” said Grant Torrens, Managing Director at Hays Japan. “Flexible arrangements like these streamline hiring to address immediate growth targets, whilst enabling managers to consider niche talent and actively manage any potential gaps.”
To address these challenges, Hays offers the following recommendations:
For business leaders:
- Strengthen Employee Value Proposition (EVP): Attracting candidates in today’s competitive environment requires differentiation from others hiring in the same space. Aligning company benefits with candidate expectations will help you stand out to candidates as the preferred employer.
- Embrace cultural shifts: Changes to EVP may include adopting new ways of work and exploring the viability of short-term labour such as contract professionals. Recruitment specialists can help navigate these alternate talent streams, and provide advice on integrating them within your current workforce.
- Focus on training: Hiring experienced professionals to plug gaps may prove costly and untenable for the tighter budgets teams face today. Develop your existing workforce employees through internal mobility incentives, training programs, and career development resources for qualified candidates.
For professionals:
- Update your toolkit: The urgency of a market where businesses are slowing on hiring necessitates an initiative-taking approach to upskilling and professional development. Be clear with prerequisites and consider upskilling and certification to fill any gaps within your toolkit.
- Consider lateral moves: While the market may seem lean on positions, there will be pockets of industry demanding new talent to fulfil changing needs. Engage with peers and mentors for insights into emerging roles and specialisms in your industry, and research companies that are hiring for stable options.
More details regarding accountancy and finance trends and associated in-demand jobs in Japan can be found in The Inside Story of Technology 2024. Download the Hays’ report here.
About Hays Japan
Hays Specialist Recruitment Japan KK ("Hays Japan"), established in Tokyo in 2001, is one of the largest foreign recruitment companies in Japan with three offices across the country (Tokyo Head Office, Osaka and Yokohama).
At Hays Japan, our experts provide professional services across the private sector, dealing in permanent positions, contract roles, recruitment process outsourcing (RPO), Managed Service Programmes (MSP) and IT solutions in the following 13 specialisms: Accountancy & Finance, Banking & Financial Services, Engineering, Marketing & Digital, Human Resources, Insurance, Legal, Life Sciences, Office Professionals, Property, Sales & Marketing, Supply Chain and Technology. This ensures a highly focused, fully tailored specialist recruitment service, enabling us to power the future of work by serving thousands of companies and candidates in Japan. Hays Japan is recognised as a Great Place to Work® by the esteemed Great Place to Work® Institute Japan, the global authority on workplace culture. We continue to strengthen our position in Asia with the world-leading ISO 9001:2015 certification in all our operational markets including Japan, China, Hong Kong SAR, Malaysia, Singapore, and Thailand.
About Hays
Hays plc (the "Group") is the world’s leading specialist in workforce solutions and recruitment, such as RPO and MSP. The Group is the expert at recruiting qualified, professional and skilled people worldwide, being the market leader in the UK, Germany and Australia and one of the market leaders in Continental Europe, Latin America and Asia. The Group operates across the private and public sectors, dealing in permanent positions, contract roles and temporary assignments. As at 31 December 2023, the Group employed over 12,300 staff operating from 249 offices in 33 countries. For the year ended 30 June 2023:
– the Group reported net fees of £1,294.6 million and operating profit of £197.0 million;
– the Group placed around 76,800 candidates into permanent jobs and around 245,000 people into temporary roles;
– 15% of Group net fees were generated in Australia & New Zealand, 30% in Germany, 21% in United Kingdom & Ireland and 34% in Rest of World (RoW);
– the temporary placement business represented 57% of net fees and the permanent placement business represented 43% of net fees;
– Technology is the Group’s largest division, with 26% of net fees, while Accountancy & Finance (15%) and Engineering (10%), are the next largest
– Hays operates in the following countries: Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, the Czech Republic, Denmark, France, Germany, Hungary, India, Ireland, Italy, Japan, Luxembourg, Malaysia, Mexico, the Netherlands, New Zealand, Poland, Portugal, Romania, Singapore, Spain, Sweden, Switzerland, Thailand, UAE, the UK and the USA