HR & EDUCATION | Staff Reporter, Hong Kong

Demand for tech-savvy workers to rise in Hong Kong: study

Millennials to usher in an era of efficiency.

Those who can easily navigate through the ever-changing landscape of technology will be the most in demand talents in Hong Kong, according to Hays’ Top Ten Talent Trends for 2021.

The study said that numerous organisations, both established and startup, have accelerated digital transformation in reaction to the pandemic. For this reason, companies will be looking for candidates who are tech savvy and have experience in the digital landscape.

“The more competitive candidates are those who possess strong technical knowledge and, more importantly, have the ability to understand how the business can be transformed efficiently with the application of evolving technology,” the study said.

The study added that Millennial leadership will usher in an era of more efficient organisations with authenticity, purposefulness, and participatory leaders.

Rise in flexible recruitment

Meanwhile, the rapid advancement of technology and the analytical use of data, coupled with recent social and economic disruption, caused a surge in demand for IT
infrastructure and support upgrades, as well as digital transformation projects in organisational operations, product development and strategic planning, the report said. This is in turn driving further acceleration in the trend towards flexible recruitment solutions and IT service institutions.

“By providing agility, cost management and expert understanding in the IT field, these options offer a solution in the face of escalating uncertainty on headcount planning and the urgent need to adapt and grow,” Hays said.

With industries such as the insurance sector pushing towards digitalisation, the requirement for contract-based project specialists to develop capabilities in areas such as data analytics, predictive analytics, AI, and machine learning is expected to increase.

Singapore a haven for seasoned bankers

The trend of banks and independent asset managers pursuing seasoned bankers willing to relocate to Singapore will continue because the city-state continues to benefit from fund outflows from Hong Kong.

“Candidates who will remain in demand are quality bankers moving into External Asset Manager/Independent Asset Manager positions, as well as family offices,” Hays said.

The prospect of business change will also improve private banking as seen throughout the entirety of the banking and financial services sector, which drives a surge of both finance and IT projects.

Hays said that these project changes may take different guises, including team offshoring, organisational restructure, system migration, automation, and digital transformation projects.

“In order to implement these operations, businesses are seeking highly qualified individuals to fill their short-term needs as they transition into 2021,” the report added.

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