HK employers plan to maintain or increase headcount in Q4

Nearly all HK employers plan to maintain or increase their headcount in the coming quarter (Image antorti / iStockPhoto)

Nearly all Hong Kong employers expect to maintain or increase their headcount over the next three months, with the strongest hiring intentions found in the services sector due to the market's critical demand for tech talent.

These are among the findings of the ManPowerGroup Employment Outlook Survey for the fourth quarter.

The survey found that Hong Kong's net employment outlook remains stable at +17% for the quarter, with 21% of employers planning to increase staffing levels and only 4% predicting a decrease.

But the service sector recorded a net employment outlook of +23, a two percentage point increase from the same quarter a year ago. ManpowerGroup SVP for Greater China Lancy Chui said this demand is being largely driven by the technology sector.

Along with the further development of digitalization, we are seeing growing demand of talents in technological fields, including blockchain technician, data scientists, cloud engineers [and] big data architects,” she said.

Virtual banks and popularization of the new Faster Payment System are likely to create opportunities for fintech talent, job prospects for experienced individuals with multiple knowledge in computer science, coding, mathematics and even statistic exhibit some resiliency. However, the ongoing talent shortage makes filling roles like these more challenging for employers.”

After the service sector, the strongest net employment outlook was found in the finance, insurance and real estate sectors (+22), followed by mining and construction (+19) and transport and utilities (+19).

The weakest demand was seen in wholesale and retail trade (+16) and manufacturing (+6) due to a continuing decline in demand for Hong Kong products from Mainland China.

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