Employers in the Cayman Islands are taking a measured approach to hiring in 2026, with half expecting recruitment levels to remain unchanged over the next year, according to a survey.
Nova Recruitment’s 2026 Recruitment Insights and Salary Guide found that 50% of employers plan to maintain current hiring levels, while 42% expect to recruit more staff and 8% anticipate reducing hiring activity.
Demand remains strongest in compliance and corporate services, where regulatory and governance requirements continue to drive recruitment.
Marketing, business development and sales roles have also seen renewed hiring activity as companies pursue growth initiatives. Hiring in trust administration remains steady, according to the report.
Some support functions are seeing weaker demand. Nova reported softer hiring activity in general administration, human resources, secretarial positions, legal support and insurance-related administrative roles.
The recruitment firm said the shift is being driven largely by automation, changing operating models and evolving skills requirements rather than a reduced need for those functions.
The report also pointed to fintech and specialist reinsurance as emerging areas of employment growth within Cayman’s labour market.
Beyond recruitment trends, Nova highlighted concerns around labour mobility for permanent residents.
According to the report, job-title variation requirements can slow career moves because amendments often take several months to process, making it more difficult for some permanent residents to switch employers within a short timeframe.
What influences job decisions
The survey found that salary remains the main factor influencing job decisions amid ongoing cost-of-living pressures.
Only 56% of workers said their current pay accurately reflects the work they perform. At the same time, 69% of professionals said benefits are very important when considering a job offer.
Health insurance, paid time off and flexible working arrangements ranked among the most valued benefits after salary.
The guide also examined the impact of artificial intelligence on the workforce.
In a contributed analysis, AI specialist Tamsin Deasey-Weinstein argued that AI is changing the composition of jobs rather than eliminating them, increasing the importance of judgement, communication and oversight skills.
The report said employers that invest in AI training and redesign roles around AI-assisted work could gain a competitive advantage.
Nova also identified challenges facing younger workers entering the labour market despite low overall unemployment.
The report cited a 2024 unemployment rate of about 13.5% among people aged 15 to 24, compared with 2.5% across the wider labour market.
Nova said internships, graduate programmes and structured training pathways will become increasingly important in helping young people move into employment.
