Hong Kong employers increasingly hiring contract workers

The demand is driven by transformation projects and demand for flexibility.

In Hong Kong, the demand for contract roles remains strong, following a recent survey by Robert Walters revealing that 63% of employers plan to hire contractors this year. The survey, part of the upcoming "Hong Kong Contractor Recruitment Guide," gathered insights from over 300 business decision-makers across various sectors.

Matthew Sullivan, Senior Manager of Financial Services – Contracting Division at Robert Walters, explained the rising demand for contract professionals. "Hong Kong is developing a lot of transformation projects, which require immediate talent. There is also a challenge in getting headcount approval for permanent roles, so it allows employers flexibility to bring in staff quickly and efficiently."

The survey found that 51% of employers began contractor recruitment in 2023, while 12% had not hired contractors that year. The IT and finance sectors are experiencing the highest demand, followed closely by accounting, human resources, and business support. 

Sullivan emphasised the appeal of flexibility to candidates. "Some candidates these days like the idea of not having to commit too much to two, three years at a business," he noted. "They like to do 6-12 months, which allows them to develop their skill set and perhaps move on to something else."

"Anyone with strong levels of technology across developers, data analysts, and technical engineers is in high demand. There's always been a need for business support areas on a contract basis, varying from HR administrative duties to general business support. Additionally, there's increasing demand in middle office roles, such as Client Onboarding KYC and business management," he added.

Looking at the long-term effects of this trend, Sullivan pointed out that Hong Kong has been lagging behind other global hubs where contracting is the norm. "I think what we'll start to see is a wider acceptance that being a contractor is a genuine career pathway," he said. "We'll also see more larger institutions adopting client contractors, which will mean higher demand and more competition for talent."

Sullivan also highlighted the operational benefits for businesses. "The speed at which businesses can bring on board new talent will allow faster implementation, stronger delivery, and better flexibility," he explained. "We as a business would be looking to build our bench of contractors, which will mean, over time, some of our clients can revisit that talent who have already worked there previously on other projects, allowing quick integration and faster delivery."