HR salaries: How much are you worth?

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The latest salary benchmark and job trends report from Michael Page for Hong Kong professionals has revealed that talent acquisition and talent development are the most in-demand HR roles.

The key takeaway for 2019 from the comprehensive annual study was that: “Hong Kong is a competitive market with (a) talent shortage, therefore, companies should streamline interview processes, focus on employer branding and engagement, and offer flexible benefits, career development opportunities and succession training.”

The report also found the most active hiring functions were in big data, AI and data optimisation, while the setting up and development of eCommerce and mobile payment systems also showed strong activity.

There was also a strong upward trend in roles involving digital performance marketing, social media and online content strategy.

According to Howard Chan, regional director for Michael Page Hong Kong: “The fintech industry – including cryptocurrency – is growing fast, while the start-up market and overall service sector are also on the rise. This is particularly evident in business and tech consulting, data analytics and big data.”

Given Hong Kong’s crucial position as a key finance hub with Asia, with its focus on global free trade, the recent trade war between the United States and China has been of particular interest.

“The world of recruitment tends to react around six months after any economic changes, and this will continue to be monitored closely,” the report stated.

The report also highlighted food and beverage and retail are two sectors seeing strong growth – backed up by the recent announcement by the MGallery Hotel to hire 150 new staff.

In other trends, there was a slight move away from the hiring of permanent staff.

“As a market, Hong Kong was traditionally more interested in full-time hires, however, this has been changing recently, and we do see a spike in demand for contracting,” the report stated.

“Customer service hubs in particular have been relocating back to Hong Kong due to language and cultural sensitivities as it’s increasingly challenging to service Cantonese and Mandarin-speaking customers remotely.”