Randstad responds to The 2016-17 Budget

Feb 24, 2016 - Hong Kong -

Randstad is one of the world’s largest recruitment & HR services providers, with Asia Pacific operations in Singapore, Malaysia, Hong Kong, China, Australia and New Zealand.

Randstad Hong Kong responds to the initiatives laid out in The 2016-17 Budget announced today.

Randstad believes the policies will drive talent trends in specific growth industries, and key supportive measures will enable better utilization of the talent available in Hong Kong.

On the strong push for innovation and technology development

Mr Kieran Sim, Associate Director for Randstad Technologies, said: “In today’s competitive world, companies in Hong Kong are pressed to innovate and be technology savvy in order to capitalize on the fast-changing industry trends. The Financial Secretary’s push for advanced manufacturing industries and intelligent systems will strengthen the demand for IT sales managers who are able to sell ‘super computers’ with artificial intelligence as a business solution.”

“As Hong Kong’s start-up scene continues to thrive on the back of the InvestHK initiatives, the need for IT project managers will rise. Roles in basic IT functions, especially infrastructure and creative developers, will see the greatest demand for fresh graduates.”

“As public and private enterprises increasingly embrace and capitalize on the e-commerce boom, this trend will continue to drive demand for front- and back-end web developers, especially those with experience in building mobile applications in Hong Kong and mainland markets. Competitive junior web developers will earn up to HK$40,000 a month.

“Cyber security specialists will also be sought after, due to the increase in cyber attacks alongside the growing popularity of e-commerce. Competitive security specialists will earn up to HK$65,000 a month.”

“In addition, the $500 million fund to broaden the public WiFi network in Hong Kong will drive demand for architects, 4G network engineers and security specialists higher than ever. This trend – coupled with the shrinking population of IT fresh graduates – will intensify the war for talent in the IT and telecommunication industry to a new height.”

On more construction and infrastructure projects coming online

Ms Yuna Li, Manager for Construction, Property & Engineering, said: “With Hong Kong’s public spending on infrastructure maintained at high levels – and the key major infrastructure projects, such as the Guangzhou–Shenzhen–Hong Kong Express Rail Link and Hong Kong–Zhuhai–Macau Bridge, are still ongoing – civil engineers, mechanical & electrical engineers, design, safety, and project managers with infrastructural project experiences are in high demand.”

“The third runway and hospital projects announced today will further strengthen the demand. On average, project managers can expect to earn HKD45,000 to 50,000 per month, while senior engineers can expect HK$35,000 to 40,000 a month. At this rate, professionals in construction, property and engineering will see their annual salary increments at up to 10 percent within the same company, and up to 20 percent when changing jobs.”

On bolstering growth in the financial services sector

Ms Maggie Li, Associate Director for Banking & Financial Services, said: “Ranging from the push for the exchange-traded fund (ETF) market, profits tax exemption initiatives, further plans to issue sukuk, to the new Hong Kong Monetary Authority office to finance projects on the back of the One Belt One Road strategy, the financial services sector is set to benefit from the Government’s initiatives and see growth in various areas such as corporate treasury.”

“Particularly, the expected launch of the Shenzhen-Hong Kong Stock Connect and the plans to roll out additional channels for two-way cross-boundary RMB fund flows will drive demand for bankers and portfolio managers who are experienced in cross-border RMB trade settlement. Junior portfolio managers with relevant experience can expect up to HK$100,000 a month, while mid-level portfolio managers will earn up to HK$150,000 a month.”

On manpower support and talent development

Mr Michael Smith, Managing Director for Hong Kong, Malaysia and Singapore, said: “As Hong Kong faces an increasingly stiff war for talent, the additional 3,800 places of Extended Hours Service for eligible childcare centers and the Low-income Working Family Allowance Scheme will encourage mothers to return to the workforce, broaden the talent pool and increase gender diversity in the workplace.”

“We also welcome the ASEAN Internship Scheme, the Scheme for Cross-boundary Study Tour and the other initiatives that will provide overseas exposure and contribute to a competitive training ground for local talent. They will equip the next generation of workers with the relevant vocational and business-ready skills that will broaden their exposure to jobs in the market.”

“Besides, the subsidy schemes for talent development in various industries will help industry efforts to address the city’s manpower shortage, innovate in order to remain competitive and ensure the workforce is well trained to take advantage of the opportunities when arise.”