3 in 5 companies willing to hire overseas to plug skill shortage

Most employers believe that skill shortages will hamper their daily operations in 2018.

Three in 5 (60%) Hong Kong companies have expressed willingness to hire from overseas markets to address skill shortages in the coming year, according to a media release from Hays. 

Hays also revealed that 9 in 10 (89%) of employers believe that skill shortages pose a growing problem that could even hamper their daily business operations with half of the surveyed businesses expecting some negative impact. 

“Hong Kong’s business community has weathered challenging economic conditions in recent years and are resilient, so perhaps it is not surprising that despite most holding concerns about the threat posed by skills shortages, 64 per cent of companies are confident they will somehow find the talent they need,” said Hays Hong Kong managing director Dean Stallard said.

The release also notes that up-skilling existing employees remains the most popular strategy to combat the growing issue of skill-shortages in the job market. Internal transfers is also a popular option for recruiters. 

“Employers will need to stay open to the best ways to recruit, but also retain employees as competition for talent will be fierce in 2018 from other employers in Hong Kong, but also the region,” said Stallard.