Here are the 5 key trends that will shape the labour market
This is against the backdrop of an era-defining hybrid phenomenon, IWG said.
International Workplace Group (IWG), a global workspace provider, highlighted five trends arising from the hybrid work model.
”One of the lasting legacies of the pandemic is the accelerated uptake of hybrid working. As the workforce in Hong Kong is now spending more time working across different locations, company leadership and HR managers are making pivotal shifts in policies as they adapt to the new hybrid reality,” said Paul Macandrew, Country Manager for Hong Kong & Greater Bay Area, IWG.
- From ‘Human Resources’ to ‘Human Relations’
Human resources were identified as one of the first sectors to reorient themselves. According to the research, more focus would be put on mental health and happier employees. Backing this up was survey data from the City Mental Health Alliance Hong Kong, which has shown a rising trend in employees who recognise investments in both resources and cultural aspects of mental health and wellbeing.
- A better way to measure productivity
Better ways of measuring productivity were also highlighted, as the research pointed to a cloud-based workflow to help evaluate an employee’s effectiveness.
- Hyper flexibility is no longer just 'nice to have'
Data from a survey conducted by IWG highlighted over 70% of job seekers looking for flexible work policies, with another survey also showing that 72% of all office workers would choose hybrid working over a 10% pay raise.
- A broadening talent pool
Meanwhile, a widening talent pool was also expected to take place due to the same hybrid model. Hiring managers would be able to cast a wider net in their search. This would help spur efforts to build a more inclusive workforce.
- Reimagining the workplace
The workplace is also expected to be redesigned, as companies will need to re-assess the role of the physical office.