Manufacturing to lead recruitment

How will the economy and employment prospects differ from 2013?

In order to predict what is going to happen in 2014, we should review last year. In 2013, the government implemented measures to address the banking sector’s weaknesses. An asset-management company to deal with bad debts was established and some banking restructuring has been undertaken. We think that this will continue. Thanks to gradual progress on improving the health of the finance sector, we will probably see slightly higher economic growth in 2014. Exports have benefited from the expansion of foreign-invested manufacturing companies that produce mobile phones, electronics, and computers.

Employment is a reflection of the economy. Some sectors will continue growing such as manufacturing and fast moving consumer goods.

What structural changes are we likely to see based on employment demand.

I personally think that demand from such sectors as manufacturing, fast moving consumer goods and logistics will increase in 2014. Foreign direct investment is expected to grow significantly and will trigger increased labour demand. I personally think the financial and real estate sectors will continue to face difficulties and are unlikely to see greater demand.

What advice do you have for human resource departments looking to employ staff this year?

Hiring is very critical for a company’s success; therefore it needs to be handled well. Companies need good procedures, ensure your recruitment staff are actually trained to conduct interviews and are capable of gaining insight into the candidates and whether they’re suitable for the position you’re attempting to fill. Don’t just rely on what they say in their CVs or during the interviews, you need to justify the provided information and check references by using your network and your recruiting partners. A wrong hire can be very costly, so we need to do everything to minimise risk.