Randstad Hong Kong’s 2023 market and salary outlook report includes key labour trends and employer insights on salaries, bonuses, hiring outlooks and talent expectations. Download the full report for more information to guide your talent attraction and workforce planning strategy for 2023.
In times of crisis, employers have become more agile in their workforce strategies to sustain their business operations and identify economic growth opportunities in changing market conditions.
Contract employees provide employers with the much needed flexibility and skills to not just fill the gaps especially in a tight labour market, but also maintain and bolster business growth.
high value contracting jobs up for grabs
Investments in digital transformation and change organisation across the different sectors have increased demand for experienced contract workers to spearhead changes on a project-basis.
In particular, we see most of the hiring appetite for project-based contract workers from consultancy and technology firms.
4 contract jobs that are in-demand in 2023
Based on the current growth trajectory, we foresee the contract talent demand in Hong Kong SAR for the following professions in 2023:
- Digital transformation - To handle the rise in business volumes, there is a demand for project-based digital talent contract workers in both in-house roles and consultant firms.
- Technologists - There will be a talent demand for tech talent as companies in Hong Kong SAR will continue to hire part-time, term-based or project-based contract workers to maintain BAU tech operations and drive innovations.
- Office assistants and administration workers - For more flexibility or to cater to projects like an office move.
- Management consultants - To minimise any unexpected drawn out expenditures to the business, employers are now presenting project-based contracts that offer a higher base salary with fewer benefits to highly-skilled consultants.
meeting the increasing work expectations of contract workers
In a candidate and skills-short market, job seekers and contract professionals with highly sought after skills and experience have the upper hand during job negotiations.
Some businesses are offering higher salaries to contract workers to compensate for job insecurity, which is one of the biggest concerns of many job seekers.
On average, contract workers receive up to 20% salary increase on their base salaries plus an attractive completion bonus. IT contractors can command up to 30% increase on their base salaries.
Companies should set aside additional resources and funds to entice talent on 12-month (or longer) renewable contracts since interested talent would have a preference for long-term or renewable contract job opportunities.
To ensure fairer employee benefits, businesses that require contractors to work on-site, such as those in the healthcare, transportation, and educational sectors, will also need to review the total remuneration package.
download the randstad hong kong’s 2023 market and salary outlook report
The 2023 Hong Kong’s Market Outlook and Salary Snapshot report looks at talent analysis and new salary benchmarks in the following industries:
- Banking & Financial Services
- Accounting & Finance
- HR & Business Support
- Sales & Marketing
- Life Sciences
- Property, Construction & Engineering
- Sourcing & Supply Chain
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Our specialised recruiters partner closely with employers and talent for the perfect match with our true-fit methodology - a qualitative measurement designed to evaluate a talent’s suitability across three dimensions - job fit, boss fit and company fit. Connect with our recruitment consultants for the latest market insights and your talent recruitment needs.