, Hong Kong

3 in 5 companies unprepared for digital reskilling

Recruiters are not future-proofing their human resources for the disruption AI brings.

Only two in five (42%) of companies in Hong Kong feel confident about their ability to reskill their current employee base, according to a survey from HR consulting firm Mercer, reflecting the lack of preparation for the disruption AI will bring to the workplace.

Also read: Hong Kong bosses prefer to upskill rather than hire to combat market disruption

Although bosses recognise the need to implement organisational changes amidst ongoing digital innovation, only 34% are increasing access to online learning courses and only a fourth are actively rotating talent within the business structure.

Also read: Employees call for more government upskilling incentives

“In Hong Kong, it’s a given that digital disruption means companies must change, but the how is a vastly more complex proposition. Our research shows that speed of change remains the number one challenge for Hong Kong businesses, very few of whom believe they are agile enough to embrace the required changes,” said Mercer regional practice leader Jackson Kam.

To keep in step with technological innovations, companies must need to update their HR models for the digital age with bosses expecting stiffer competition which they plan to alleviate through temp and contractual work.

“Gaining greater access to talent through a broader ecosystem is part of the solution. Companies also need to deploy talent faster and with precision to unlock the potential of their workforce,” said Mercer career global practice leader Kate Bravery.

In fact, only 4% of organisations in Hong Kong consider themselves digital as opposed to the global average of 15%. Whilst almost six in 10 (57%) of employees believe that digital tools are important for their work, only 37% say that they have the necessary digital tools to do their jobs.

“When we are living digitally, working flexibly and being rewarded uniquely, we will unlock growth in the Human Age,” Bravery added.

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