14 ‘Future-proofed’ jobs specific to Hong Kong
Hong Kong remains a financial and technology hub with a range of international companies retaining offices here. Hong Kong has also long been one of the world’s most robust wealth management fulcrums and has proved to be resilient during the pandemic. It’s no surprise then that the most ardently pursued job candidates are those working in these industries. A Hays Quarterly Report identified the following positions as in-demand in 2022 and beyond, in Hong Kong.
1) Accountancy and finance - Finance managers with three years of Big 4 experience and candidates with International Financial Reporting Standards (IFRS) experience are in hot demand.
2) Engineering – if you have fluency in both English and Cantonese, including technical terms, as a mechanical, plumbing, fire services, or drainage engineer, particularly at the senior level, then you could find yourself in high demand here. Additionally, people with local experience and strong work histories specializing in fit-out projects and new build engineering are also being looked for.
3) Supply chain – with the dust settling from the pandemic, you can expect a gradual escalation in demand for supply chain and production talent in the near future, especially in the manufacturing and consumer industries. Logistics specialists will also be sought after as global borders reopen. If you’re a demand planner with sound skills in planning and forecasting in FMCG and life sciences, you’re ripe for a job in HK. Supply chain managers are also wanted.
4) Property – property specialists are eagerly recruited to fill the many vacancies in HK, as are corporate real estate services managers, facilities managers and facilities officers, construction project managers and registered architects.
5) Banking and financial services – those with Environment, Social and Governance (ESG) talent in roles within compliance, risk and anti-corruption spaces are being aggressively sought out since there’s a strong focus on sustainability because of the government’s target for carbon neutrality by 2050. Something else to keep in mind is that diversity has become an important goal for the Banking and Finance sectors in HK. Consequently, companies are actively pursuing candidates with the goal of diversifying teams, and consciously hiring more women for leadership teams. This trend is expected to continue and trickle down into other sectors.
6) Private Wealth Management - this is flourishing with the cross-boundary Wealth Management Connect Scheme being implemented. The result being an increased demand for ESG bankers, relationship managers, and digital wealth/asset management with substantial cross border networks and asset management experience in family offices and Chinese private equity houses.
7) Procurement – the indirect procurement market is after those with specific category IT and HR services knowledge. Within indirect procurement, companies associated with consumer, manufacturing, and heavy industries are requiring direct procurement managers with experience in global commodity management processes.
8) Legal – corporate lawyers and those specialising in capital markets are being keenly recruited, while capital markets (private practice) associates are also constantly looked for.
9) Finance technology – banks are progressively needing more senior developers who can transcend their conventional technical role and consult with the business while also managing junior developers. Senior business analysts are also in-demand. The need for finance professionals with experience in system enhancement and tuning as well as a basic understanding of programming languages is set to soar as financial institutions are investing heavily in projects related to RegTech.
9) Office professionals – Shortages in this sector are constant and projected to remain so, especially for legal secretaries and executive assistants with trilingual abilities in banking.
10) Insurance – If you’ve strong actuarial knowledge then you’re in demand now. Many companies are also getting prepared for the upcoming changes to the risk-based capital system by recruiting valuation reporting candidates.
11) Information technology – business, data analysts, and IT department managers are in great demand due to companies needing to revamp or replace their systems to remain competitive. Digitalisation is booming as companies try to minimize unexpected disruptions while traditional functions are now looking to integrate technology. This is driving the need for Quant Engineers, UX Researchers, and Product Managers with specialised expertise to oversee projects or products from end-to-end.
12) Marketing – the global move towards higher marketing budgets for digital formats, has prompted an increased need for digital marketers. If you have expert skills in social media, content marketing, analytics, SEM and SEO, you are in keen demand.
13) Human resources – post-pandemic, many employers are honing employee engagement strategies to attract and retain talent. Therefore, there’s a trend of companies seeking HR candidates who can lead HR, digital, or business transformation in the year ahead to focus on nurturing more engaged employees. As well, multinationals are recruiting more local executives and are looking to Learning & Development to train future leaders, develop succession plans and monitor talent development.
14) Life sciences – the introduction of stricter drug safety regulations means a demand for more of these professionals. Furthermore, since sustainability is a key focus for private sector companies considering Hong Kong’s ambitious target for carbon neutrality, companies are hunting for talent experienced in ESG roles to meet the demands of climate initiatives and government regulations. Emerging roles include ESG Director, Sustainability Manager, and Health, Safety & Environmental Manager positions. Other areas where ESG-related roles are forecast to require filling include green energy, SMART city engineering, waste management, green supply chain and logistics, manufacturing, as well as a range of private and government-funded consulting projects.
Outro: Dither no more or risk losing job currency as your skills may become redundant or sorely lacking, probably sooner than you think. Keep yourself in-demand by seeking to update your skills or reskill to take another more viable career direction. A great starting point is online courses which offer both full time and part time studies to suit the flexibility you require. You need go no further than H Academy which offers a pertinent range of such courses along with bootcamp and workshop options @happyer.io.