Hong Kong bosses prefer to upskill than hire to combat market disruption

31% aim to leverage the expertise of other businesses by partnering with digital agencies.

Hong Kong CFOs are opting to upskill their existing employees (44%) than hire new staff (35%) to combat market disruption in the financial services industry, according to a media release from Robert Half Hong Kong.

“To best manage change and disruption in 2018 and beyond, financial services employers understand they not only need to make sure they bring in additional expertise to address potential skills gaps, but also upskill their staff so they are equipped to take advantages of emerging business opportunities,” said Robert Half Hong Kong managing director Adam Johnston. 

These market disruptions include volatile macro-economic conditions, technological change and new regulatory policies. 

A third (31%) of CFOs plan to partner with other businesses like digital agencies to share in their technical expertise whilst 29% plan to increase business investments. However, a separate report revealed that bosses might go the extra mile and hire from overseas markets to plug skills shortage if the candidate is worth having in the team. 

“For financial services professionals ambitious to grow their career and remain in-demand in the market, it is essential to not only upskill their technical capabilities, but also to continuously develop their soft skills, such as leadership, communication and interpersonal skills,” Johnston added.