Excerpted from the Hong Kong Career Guide
Hong Kong is a Special Administrative Region (SAR) of the People's Republic of China (PRC). It currently enjoys a good deal of autonomy from China. Although the PRC controls Hong Kong's foreign and defense policies, the territory maintains its own currency and customs status. According to the law, Hong Kong’s autonomy will continue until at least 2047.
Over the past few years, Hong Kong has become increasingly integrated with China through trade, tourism and financial links. The mainland has long been Hong Kong's largest trading partner. Hong Kong and China recently agreed to forge closer ties, thus increasing Hong Kong companies’ access to the mainland's service sector.
War for talent: Hong Kong’s employment market is highly competitive. One of the greatest challenges for MNCs (multinational corporations) is finding qualified local talent. This talent shortage is due to its small talent pool and the high employee turnover.
Areas of Job Promise
Sales representative and finance and accounting positions remain the most difficult jobs to fill in Hong Kong, according to Manpower’s most recent Talent Shortage Survey.
The ten hardest positions to fill
- Sales representatives
- Accounting and finance staff
- IT staff
- Secretaries and administrative assistants
- Production/machine operators
- Customer service and support representatives
Employers in Hong Kong will be cautious about the salary increases they give this year. At the same time, they are also acutely aware of the competitive talent environment and the high turnover rate among Hong Kong’s workers.
However, talent shortages are forcing hiring managers to offer competitive wages. Typically, salaries will increase 3 to 5 percent this year, which is above inflation and GDP forecasts. However, top performers will be able to command larger raises.
This is just a short sample of what you’ll find in over 100 pages of information in the complete Hong Kong Guide.