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HONG KONG, January 19, 2021 / PRNewswire / – 2020 has been a year of massive change for employers and employees, and it looks like 2021 will be no different. In their latest survey and the 2021 salary guide, Morgan mckinley predicts that the global recruiting market will begin to grow, with local opportunities coming primarily from the maturing 5G and FinTech fields.
Morgan mckinley, the global professional recruiting firm, has launched its new, interactive look 2021 salary guide calculator today. Part of this project included the “ World of work 2021 ” survey, which found that employees are generally a bit more cautious than employers about the potential of the market for hiring and salary increases, when in fact it looks like there will be great opportunities for them through improving their skills and applying for new internal or external positions.
A potential resurgence of the global recruitment market
Despite the pandemic, nearly half (49%) of global companies are confident their organizations will return to normal hiring levels within the next 12 months.
And what is perhaps more encouraging: a certain level of salary increase can also be expected. More than half (51%) of employers around the world are confident that they will be able to offer pay increases in 2021. 28% of employees are optimistic about a salary increase, statistics show that there will be an opportunity from the employers’ point of view.
It will be important for companies to retain their talents in 2021 in order to have the capacity to adapt to the current market and to remain competitive.
Maybe another year of home office
Our results also showed that the vast majority (89%) of companies expect teleworking to continue to remain widely present in the second half of 2021, with professionals sharing the same perception (86%).
“As Hong Kong continues to adapt to the current COVID-19 environment, we see strong indications that a large number of organizations will continue to support working from home and provide the necessary environmental support to enable employees to do.,” said Rob sheffield, Managing Director of Greater China, Morgan mckinley. “Employers will need to focus and refine their employee engagement strategies.”
Eyes on Technology: the opportunities lie in FinTech and 5G
In general, Morgan mckinley sees the outlook for 2021 in Hong Kong with a continued focus on transforming business models and work environments in the wake of COVID-19. More specifically, the drive to become a smart city will likely continue to drive the demand for talent. FinTech, 5G and security in Hong Kong.
“The growth of the technology sector will be a key driver of this development in the e-commerce, supply chain, life sciences and financial services industry. Strategy and transformation with Cloud, data, UX and change management will continue to lead the agenda,added Sheffield.
Learn the right skills to stay agile
In order to seize the chances of a turbulent market, businesses and professionals alike recognize the importance of keeping skills up to date. According to our survey, 77% of employees plan to upgrade in their area of expertise, and 51% of companies believe they will need to hire new skill sets throughout 2021.
“Strengthening the skills of job seekers and their employers digitally supports this Finance and Accounting, Sales and Marketing, Risk and Compliance will be the key to ensuring continued growth in these sectors. Sheffield commented: “We have seen wage inflation in areas of the market in demand, while other areas remain largely stable. Some increased job mobility is also expected among seasoned professionals who re-qualify and move. “
Looking to the future: growing up in the Grande Baie region
At the same time, with regard to From China plan that aims to double the economy by 2035, Sheffield commented: “We see the development of the Greater Bay Area as a key opportunity for local growth and employment. This will have a direct correlation with investment in businesses, talent and labor mobility in 2021. “
Access the 2021 Morgan McKinley Hong Kong Salary Guide interactive calculator and full results from ‘World of Work 2021 ‘ survey here
About Morgan McKinley Hong Kong
Ranked among Deloitte’s ‘Best Managed Companies’ and based in Ireland, Morgan mckinley established in Hong Kong in 2003. Our corporate culture of trust, reward and commitment to success is based on the Admiralty Financial Center, with over 30 recruiters speaking Cantonese, Mandarin and English.
SOURCE Morgan mckinley
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