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Hong Kong employers’ expectations on the roles of HR practitioners are shifting, as they are seeking a transitional position between HR and administration, according to Robert Walters’ recent research.
The top four skills in demand in the sector are: Business partnering, employee engagement, compensation and benefits, and learning and development.
More specifically, HR business partners with transformation experience or talents who can offer strategic value and advice to the business are highly sought after – to engage in the trend of digital transformation and the rapidly changing business environment.
Strong capability managers with branding expertise are also going to be in high demand, as there is a growing awareness of the importance and value of employer branding in a highly competitive job market. They will be responsible for leading organisations to meet the evolving expectations of both employees or potential candidates, as well retain and engage existing employees.
About two thirds of respondents working in the HR field have been staying in their current roles for three to five years, and almost half (45%) of the respondents are looking to change jobs in 2020 for better compensation and benefits (73%), company culture (48%), career progression (45%), and improved work-life balance (38%).
More than half of those who decide to stay expect between a 1-6% annual salary increment, while 35% expect a 7-15% increase.
Other key findings in the report:
- The expected salary increment when changing jobs next year in Hong Kong has dropped to 10-15% from 10-20% in 2019.
- In the current environment, both employers and candidates are more conservative, while talented professionals are less willing to jump between roles than in previous years.
- Recruitment remains highly active in financial services, particularly in the fintech sector. Despite a slowdown in hiring for trading and equity-related financial services positions, recruitment remained active for roles in virtual banking, insurtech, private banking, wealth management, distressed debt and special situations funds.
- High-tech companies and start-ups are continuously looking for the placement of strategic positions for innovation research in Hong Kong, which drives demand for talent specialised in data, innovation, artificial intelligence, the Internet of Things and software development.