The accounting firm KPMG released the “Hong Kong Employment Trends Survey and Pay Outlook” report and found that global economic uncertainty has little impact on the local employment market. 72% of senior management or human resources respondents indicated that they plan to increase or maintain the existing Number of employees.
Nearly 71% of respondents expect a transfer of 20% or more. Respondents considered pay and benefits (68%) as the biggest incentive for conversion work, followed by career development and promotion prospects (53%), and flexible working hours and life balance (35%).
The employment market in Hong Kong is still optimistic that the
China-US trade war is heating up, but companies are planning to hire more people. Li Guoxing, the head of KPMG’s executive recruitment service, said that the survey was conducted from January to February this year. At that time, the development of Sino-US trade wars remained unclear. The current situation should be more serious than it was at the time. However, he believes that unless the export trade industry or company products are on the tariff list, many local industries are mainly engaged in the local market. The trade war has not caused much impact on them. Enterprises should prudently invest and recruit manpower. The job market is still optimistic.
Respondents expect that 20% of the salary increase will be too high. Xu Xiuzhi, director of recruitment services for KPMG, added that the innovation technology industry and financial services industry are more thirsty for talents. In recent years, society has personal privacy. The concern about cybersecurity is rising, companies tend to increase related positions, and such talents can have higher bargaining power.
53% of respondents considered working in Dawan District.
In addition, 53% of respondents indicated that they would consider working in Dawan District, with Shenzhen, Macau, and Guangzhou being the top three preferred locations. Respondents considered the reasons for the above three cities: higher pay level (58%), better career and industry prospects (56%), broader work experience (54%) and convenient transportation (52%). Mr. Hui said that if Hong Kong people work in Tai Wan District, they can enjoy tax subsidies. The pay level is similar to that of Hong Kong. Therefore, many people will consider going to work in Tai Wan District.
The survey was conducted in the form of an online questionnaire. During the period from January to February this year, 476 respondents were interviewed. The respondents came from 14 industries including financial services, retail, innovation, and technology, manufacturing, education. Industry and so on.