A rising demand for expert bilingual candidates with the expansion of foreign-owned corporations in Japan.
The market is still very active due to a positive business environment in Japan. There is a high demand for bilingual professionals with account and finance skills However, automation, off-shoring and outsourcing continues to slowly but surely reduce the requirements for accountants in Japan.
The highest demand is for candidates with financial analysis and business controlling skills. Because the market environment is good in Japan, foreign capital firms have increased their interest in expanding their business and market share in Japan and so they need financial analysis skills to decide where, how much and how to invest money. The increase to the consumption tax means companies need to re-evaluate their pricing and, as such, they need financial analysis skills to understand the risks and how much to potentially increase.
Salaries are rising with demand. The demand for financial analysis skill exceeds that for Japanese language skills.
As usual, candidates who are early in their career and who are perceived to have significant growth in front of them are most highly desired although they often do not yet have the depth of analysis skills or the communication skills required to strongly influence senior management onshore or overseas. Senior candidates with strong analysis and communication skills, even with lower Japanese skills, are in quite high demand to lead accounting and finance functions and partner with senior management.
Japanese companies increasingly expanding overseas is leading them to hire more candidates from foreign capital companies to help with financial control and analysis for overseas subsidiaries which is putting additional stress on the “global” talent pool. All of the above means that salaries are rising and that most candidates can expect to get a nice salary increase if they are moving to a similar or larger role.
Reflections on recruiting global talent for 2019 and prospects for 2020_en world Japan_20191205
en world Japan K.K.
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