The Hong Kong General Chamber of Commerce (HKGCC) is pressing the government to import labour amid a significant talent shortage impacting about 74% of local businesses, according to a recent survey. The HKGCC study conducted in April 2023 revealed that the talent crunch has been prevalent for up to three years, with junior-level management positions facing the largest talent deficit. Employees have been found to resign mainly for better pay, emigration, and improved work-life balance.
To address this, companies are resorting to methods such as enhancing remuneration packages, investing in employee development, automating processes, and even relocating operations out of Hong Kong. A short-term solution considered by 44% of companies is recruiting talent from the Greater Bay Area (GBA). However, long-term strategies point towards targeted education and training initiatives to maintain and attract talent.
George Leung, CEO of HKGCC, commends the government’s endeavours to diversify labour importation schemes and calls for the consideration of importing frontline workers from the GBA. He also warns that simply offering better remuneration packages could harm less financially stable companies, potentially threatening Hong Kong’s economy. This news is based on Marketing Interactive news.