Hong Kong’s hiring market to remain soft as employers are concerned about challenging economic outlook: KPMG
- Only a quarter of companies expect to add staff this year, compared with 37 per cent last year, while some 16 per cent expect to reduce headcount, KPMG survey shows
- Nearly 75 per cent of jobseekers are willing to relocate within the Greater Bay Area, provided it comes with better career prospects, higher pay and greater work exposure
Jobseekers in Hong Kong should not get their hopes up in case they are looking to land a job or switch employers, as companies are pessimistic about the overall economic outlook.
Slightly over a quarter of companies expect to raise staffing levels this year, compared with 37 per cent last year, while some 16 per cent expect to reduce headcount because of a slowdown in business activity in the city, according to a KPMG survey on Thursday.
While hiring sentiment in the real estate sector was the poorest followed by financial services, the overall outlook was generally low across most industries compared with last year, according to the consultancy’s annual Executive Salary Outlook, which surveyed more than 1,100 executives and professionals.
“Overestimating the bounce-back from the pandemic, headwinds facing the property sector and the mainland’s slow economic recovery have led to a slowdown in hiring,” KPMG said. The impact was particularly felt by the property, financial services and consumer sectors, the report added.
Innovation and technology, however, remained the most buoyant in terms of increasing headcount, reflecting the sector’s growth momentum and support provided by the government.
