StayConnected: Exploring the Current Hong Kong Employment Landscape

Welcome to the latest edition of the StayConnected newsletter. This month, we shed light on the current Hong Kong employment landscape, with our latest Candidate Sentiment Survey (Technology Sector) offering a deep dive into the minds of IT professionals, while the Commercial Finance 2024 Mid-Year Salary Report highlights the challenges and opportunities within the Finance sector.

In addition, we explore the broader implications of the workforce revolution in our article, Navigating the workforce revolution: From resignation to retention. We identify the factors driving shifts in employee expectations and the strategies organizations can adopt to thrive in this new era.

Lastly, we wanted to share some core books that we promote internally at ConnectedGroup - Don't miss the list towards the bottom of this newsletter!

Exciting Updates This Month

• The Hong Kong Investment Corporation continued to make news with partnerships announced with Galbot and Biomap
• Hong Kong moved from 7th to 5th in the latest IMD World Competitiveness Ranking (more info on this in our Q2 Talent Insights Report)
• The Beijing government reinforces Hong Kong’s role as an international talent hub to serve both HK and the mainland
• Hong Kong wins 4 Olympic medals, with Gold medalist Vivian Kong announcing that she will retire from Fencing and join the Hong Kong Jockey Club

Candidate Sentiment Survey (Technology) - June 2024

This report offers insights into the minds of IT professionals in Hong Kong. By surveying a diverse pool of active, passive, and inactive jobseekers, we've captured a comprehensive snapshot of the industry's current state. This data-driven analysis provides invaluable knowledge to help you understand candidate sentiment, refine your hiring strategies, and gain a competitive edge.

“Within the current challenging environment exists an opportunity for employers to leverage flexible contract, interim, or fractional resources to innovate and create momentum before markets improve.” - Bonnie Chan, Associate Director Head of Technology and Contracting & Payroll Services

Commercial Finance 2024 Mid-Year Salary Report

The finance and accounting sector in Hong Kong is undergoing significant changes driven by economic uncertainty and automation. This report highlights key observations and trends in the hiring landscape, emphasizing the need for candidates who can streamline operations and embrace finance transformation initiatives.

Navigating the workforce revolution: From resignation to retention

The job market has undergone a dramatic transformation in recent years. From the 'Great Resignation' to the 'Great Reshuffle', and now the 'Big Stay', employee expectations and priorities have shifted significantly.

Our latest article delves into the reasons behind these changes and offers insights into the evolving dynamics between employers and employees.

Inspiring Reads

We are launching this section with some of the core books that we promote internally at CG:

• The Obstacle is the Way by Ryan Holiday – a review of Stoic philosophy and how it can be applied to modern life – particularly relevant in today’s challenging markets
• Give and Take by Adam Grant – evidenced based study of why taking others with you is key to success
• Everybody Matters by Bob Chapman – an inspiring review of an acquisition strategy that focuses on growing businesses through people and purpose and not stripping assets
• The Return on Kindness by Dr. Bonnie Hayden Cheng – HK based author and friend to CG who has written the handbook as to how and why kind leadership creates successful companies

That's everything for this month, keep an eye out for our next newsletter, coming early September. If you're looking to take the next step in your career, or want to add talent to your team, please reach out to us by calling +852 3972 5888 or emailing infoHK@connectedgroup.com

Stay Informed, Stay Competitive, StayConnected