In a turbulent market environment, companies are likely to keep their hiring activities on hold and focus more on mitigating the negative impact of slower growth.
However, this decline will not negatively affect all industries equally. For instance, the technology sector will continue to register positive growth due to the government’s agenda to drive the city’s technological development. We expect to see a surge in demand for human resources (HR) and business support talent, as the competition for good talent heats up within the tech industry.
Digitalisation will continue to be a top priority for many key industries in Hong Kong SAR and it is no different for the HR specialisation. Digitalisation and digitisation have resulted in a tectonic shift in the way HR functions are being performed.
2020 labour and salary trends for HR & business support professionals.
Automation has increased the efficiency and effectiveness of HR functions and continues to liberate professionals from performing routine administrative tasks in recruitment and onboarding. Candidates with prior experience in change management or facilitating digital transformation will be highly sought-after.
On the business partnering front, employers are only considering experienced candidates who are specialised in specific HR functions, such as compensation & benefits or learning & development. In fact, specialised HR candidates equipped with in-demand skills like strategic business partnering and human resources information system will be highly sought-after. These HR professionals can command up to 20% premium in salary increment when pursuing other opportunities in 2020.
key insights in this year’s human resources industry outlook.
- how job scopes and responsibilities continue to evolve in human resources and business support functions
- specific in-demand skills expected from the local HR talent pool
- salary snapshots for more than 20 HR and business support roles