It is cloud technology that is proving most critical to Hong Kong’s development .
As the economic recession triggered by social unrest was compounded by the global pandemic, recruitment budgets for Hong Kong SAR businesses were constricted.
However, as the economy has stabilised, hiring plans are being reappraised and the technology sector is set to see pockets of growth, particularly in industrial commerce, insurance, and digital transformation, said Simon Lance managing director at Hays Greater China.
“The global pandemic has altered not only how businesses operate, but how we live our lives,” explains Lance. “Employees are working from home, consumers are shopping online, and all manner of industries must explore new and innovative ways of capturing customers and discovering revenue streams. This has led to a revolution in digital transformation utilising AI, machine learning and cloud technology.”
While AI and machine learning dominate the headlines, it is cloud technology that is proving most critical to Hong Kong’s development as a digital nation, as the former two technologies require huge amounts of computing power.
As a result, candidates with experience in Amazon Web Services and Azure will be in great demand in the coming year, as will those skilled in programming languages, with Python likely to be a key trend for the upcoming five years.
“As well as the technology headcount that will be required to put new digital transformation projects into place, with these developments being rolled out across a broad range of industries, companies will require their staff to be upskilled in the changes,” said Lance. “This means that we shall also likely see candidates required for learning and development, though these may be recruited on a contracting basis.”
It is not only in education that the technology industry will be using temporary staff in 2021, as due to the uncertainty brought about by the global pandemic, more companies are considering – or have already recruited – contract workers.
“Providing more flexible resolutions to staffing requirements, the use of temporary staff is growing within the technology sector,” continued Lance. “Of course, business momentum is growing, but many employers are having to take into account the long- and short-term objectives and contracting is the ideal resolution, meaning that we are likely to see this continue well into the year ahead.”
Working flexibility of another kind is on the minds of many technology professionals. Though a work-from-home culture had been necessitated by the pandemic, many employees are now reluctant to relinquish this option and candidates are increasingly demanding a continuance in any new role that they take on. Fortunately, employers have noted that efficiency may be maintained or even improved by such practices, they are more likely to provide this option, something that is warmly received by younger individuals.
“As Generation Y and Z professionals become more prominent in the workplace, there is a pronounced shift in office culture. As well as requiring flexible working options, these younger candidates are motivated less by financial incentives, and are instead interested in less-tangible, more diverse enticements,” explained Lance. “Many are concerned by the cultural impact that a company has, and as a result, organisations are promoting their social responsibility and charitable works across media platforms, making them increasingly attractive to this more societally conscious generation.
“Candidates are also concerned by their potential for mobility; for some this may mean in a more global, literal way, and are looking to relocate overseas. For others, the ability to move into differing areas of an organisation’s framework is important, in doing so gaining experience in other IT aspects such as project management, network and infrastructure.”
An overview of what other trends have been observed in Hong Kong’s technology sector can be viewed below:
- There are few boundaries to recruiting overseas candidates in the technology sector. However, where language restrictions are concerned, trilingualism is of great importance for key IT functions where communication with development teams is required.
- The recent momentum in the insuretech start-up sector is set to continue, with strong recruitment to follow into 2021.
- Skilful professionals who are capable of creating software, systems and platforms that can provide business solutions and capture revenue will be key hires in the year to come.
- Outside of the more prominent areas, the market is currently job short, meaning that competition is high, salary expectations must be tempered, and employers can be more selective.
- With there being a greater necessity for technology candidates to apply tech knowledge to real life business solutions, communications and stakeholder management skills are of increasing priority.
