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Hong Kong’s senior executives are concerned about attracting and retaining top talent in the country over the next six months.
According to a report by Robert Half, 96% senior executives in banking and financial services, 96% of those in commerce, and 89% of those from the IT industries are all worried about the employment outlook for the rest of the year.
Nearly everyone across all three sectors agreed it has been a challenge to find, hire and keep suitable talent.
However, all three sectors also indicated they are planning on maintaining or increasing headcount before the end of the year.
About half (48%) of those in the banking and financial services sector said they will be expanding their headcount while 40% said they will be maintaining it. Only 9% are freezing new hires and 3% expect to trim headcount.
CFOs surveyed were also displaying hiring intent; 55% said they will be hiring, 43% will be maintaining headcount and 3% are freezing or downsizing.
“We expect the hiring market for all three sectors to be particularly active for the next six months, as companies move to drive growth plans and take advantage of the global upswing of the economy despite the current labour crunch,” Pallavi Anand, managing director of Robert Half in Hong Kong, said.
“Companies in Hong Kong will have to look at options besides simply increasing remuneration if they wish to attract and retain the best talents whilst keeping overheads low.
“Pro work-life balance and better employee engagement policies will have to be leveraged effectively to keep Hong Kong-based organisations globally competitive.”