70% of job seekers in Hong Kong hold a favourable view of the economic situation, as per the Michael Page’s latest Salary Benchmark 2019 report. Jobseekers who secure a new position in 2019 can expect to receive a 12 –20% salary increase, the report revealed. 

Meanwhile, the industries with the highest ranking in the number of job postings are property & construction with 8%, financial services & fintech with 6%, consumer & retail with 5%, and legal practice with 5%.

Howard Chan, Regional Director at Michael Page Hong Kong stated, “The growth of retail, together with new F&B market entries, reflect an upswing in sentiment towards a healthy economy, all of which fuel hiring activity. However, though the fintech industry and startup market are growing fast, the greatest demand for talent originates from traditional lead industries like property & construction and financial services as they race to keep up with the city’s economic opportunities.”

The hottest in-demand skills include big data analysis and data optimization, setting up and developing ecommerce and mobile payment systems, digital performance marketing and online content strategy. Strategic management roles and service roles that are communicative in nature are expected to remain in high demand for talent.

Howard added that hi-tech skills and understanding will be key to Hong Kong’s growth for years to come, even more so than purely hi-tech roles. Business leaders should focus on training professionals in new technologies.

Meanwhile, contract positions are currently popular within financial services and multinationals. Howard added that this is a win-win situation as the millennial and Gen-Z workforce increase their focus on personal growth and work-life balance. The gig economy is no longer just for creative roles, he said.

Also, training and development opportunities are important to attract contract workers, as more professionals in Hong Kong have begun to consider contracting as a chance to gain exposure and grow professionally.