HONG KONG SAR -
Media OutReach Newswire
- 27 June 2024 - Despite a dimmer economic outlook for 2024 in Hong
Kong, a recent survey by leading specialist professional recruitment
firm Robert Walters found that the demand for contract roles in Hong
Kong remains strong amidst the challenging climate.
The findings are from Robert Walters' upcoming "Hong Kong Contractor
Recruitment Guide", which surveyed over 300 business decision-makers
across multiple sectors about their contractor hiring plans and
challenges. The survey revealed that 63% of employers are going to hire
contractors in 2024. 51% of them have already started contractor
recruitment in 2023, while 12% didn't hire contractors in 2023. Notably,
sectors such as IT, accounting & finance, human resources, and
business support are experiencing significant demand for contract
talent.
The findings indicate that the key reasons employers are turning to
contract workers include the ability to staff short-term assignments
(43%), the lack of permanent headcount budget (29%), and the need for
specialised skills and expertise (20%). Matthew Sullivan, senior manager
of Robert Walters Hong Kong financial services contract division,
explained, "Contractors are becoming an essential part of the workforce
strategy, providing the agility and specialised skill sets that
organisations require to adapt under uncertain economic times."
Professionals are increasingly considering contract positions
For years, the traditional mindset among Hong Kong employees has been
one of aversion to non-permanent, contractor-based work, influenced by
the city's strong preference for long-term, salaried positions as the
ideal career path. Employees tended to view contracting work as less
stable and culturally unacceptable.
However, the demand for contingent workers for short-term tech
projects in recent years and the arrival of a new generation of workers
are challenging this long-standing perspective. More employers are
seeking multi-disciplinary talent rather than just highly specialised
individuals. Contractors can provide the versatility of experience to
tackle complex, cross-functional projects. "It has become increasingly
common for professionals to take on contractor roles to gain exposure to
new industries, technologies, and projects in a short space of time."
Commented Pinki Chan, manager of Robert Walters Hong Kong tech &
transformation contract division.
Gen Z's entrepreneurial mindset
Young workers tend to prioritise roles that enrich their lives across
mental, emotional, and experiential dimensions. They place real value on
being able to let their work "do the talking" rather than the hours
served. Pinki added, "Contract roles provide young professionals with
the perfect springboard to be the best in their field. While it can open
the door to a new industry or type of work, contractors can enjoy
higher flexibility to plan longer holidays and go for training to
upgrade their skills".
According to the Robert Walters
top talent trends in recruitment guide,
9 out of 10 Gen Z professionals see remote/hybrid working as the
biggest lever when choosing a role. This younger generation prioritise
work-life balance, and flexibility is proving to be a valuable target
for companies seeking agile talent, making contractor positions
increasingly appealing. The survey by Robert Walters shows that flexible
working arrangements is the most common perk for employers (35%) to
appeal to contractors.
Tapping into the GBA talent pool
The survey also states 51% of employers trying to hire contractors in
Hong Kong cited sourcing skilled contractors as their top challenge.
This "talent crunch" is driving employers to explore new avenues for
finding the specialised expertise they require.
In response, employers are increasingly looking beyond the local
talent pool and turning to the Greater Bay Area (GBA) for contractor
hires, which the HK government's Top Talent Pass Scheme (TTPS) has
facilitated this trend, with an increase of working visas issued.
Notably, 60% of GBA talent who are looking to work in Hong Kong have
stated they are open to being employed as contract workers from the GBA
talent survey by Robert Walters. This suggests a more favourable view of
contractor roles in the region, as opposed to the traditional Hong Kong
mindset against contracting work. The growing openness to contractor
roles among the GBA talent pool presents an opportunity for employers to
bridge their skills gap.
https://www.robertwalters.com.hk/http://www.linkedin.com/company/robert-walters