HRO Today Global Winter 2016 - 14

RPO Asia 2016
HOT SECTORS
Given Asia's diversity, the question of how to achieve
growth is often a matter of determining where to
focus and how to position a company's RPO and HRO
services. Expected to be the world's fastest growing
economy in the year ahead, India is a favourite across
the board, but here are several other markets and
industries that could be hot in 2016:
Australia
With Australian shares trading at their lowest levels
in two-and-a-half years and commodity companies
laying off workers, Australia may seem like an odd
focus. For Futurestep's Sue Campbell, who began
her career in Sydney however, the economic dip
coupled with Australia's high labour costs provides
an opportunity for outsourcers.
" We're working with a number of Australian and
New Zealand companies that are creating or
expanding their shared service centres in India,
Malaysia, and The Philippines, " says Campbell.
" They're transferring work to those countries and
expanding the breadth of shared services to include
finance, human resources, administration and I.T.
While this might mean lower hiring volumes at HQ,
it benefits the local economies and means we can
provide in-country recruitment services to support
that growth; so it's good for us, too. "
Southeast Asia
Data processing and other shared services are not
the only industries moving to low-cost centres.
Apparel and other manufacturers are moving out of
China to markets in southeast Asia like Cambodia,
Indonesia, Malaysia, and Vietnam, where wages are
lower, but the skill sets are just as valuable.
Provincial China
Some RPO providers are more bullish on China than
others. But it's also important to realize that there's
a lot more to the PRC than Beijing, Shanghai, and the
Pearl River Delta. Over the next five years, 46 million
households are expected to join the ranks of China's
middle class, according to a report by BCG and a
[14]
HRO TODAY GLOBAL
| WINTER 2016
research unit of Chinese e-commerce giant Alibaba.
Half of these families will live outside the top 100
Chinese cities.
" There are many, many opportunities in Tier-2 and Tier3
cities, " says Danny Zhang in reference to provincial
capitals like Chengdu, Wuhan, and Xiamen as well
as smaller cities in western China. " There are many
provinces in China that still have quite a lot of space in
retail for companies to penetrate. China is working to
attract companies to underdeveloped provinces. "
Healthcare
Asia is home to several countries with large and
aging populations. Add to this a growing middle class
and you can understand why health care providers
are expanding. " There's a tremendous opportunity
for healthcare businesses in Asia, " says Zhang. " We
have clients interested in setting up hospitals, clinics,
and other healthcare services in China, India, Japan,
Singapore, and Australia. One European client, for
example, wants to hire up to 1,000 people a year in
Asia to support their growth. "
Banks
Wait! Banks? Yes, hiring freezes are in effect. But
compliance teams, which were small just a few
years ago, are growing, particularly in local banks,
as opposed to multinationals. Goldman Sachs
is also bucking the trend by hiring 5,000 midlevel
professionals to work at its new campus in
Bengaluru, India.
Disrupters
Whether you are booking a room, saving a document
or reprogramming cells to fight disease, disrupter
companies are changing consumer habits and
altering the business landscape. More traditional
firms may be scaling back, but 'disrupters' like
AirBnB and Uber are expanding and often moving
aggressively into Asia. Unfortunately, many of these
firms are looking for the 'purple unicorns', Campbell
says. They want to hire people who have significant
experience in other disrupters.

HRO Today Global Winter 2016

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