The economic climate in Hong Kong is very strong, as indicated in part by a record 20-years low unemployment rate during a quarter of the year. Engaging talent through contracting and temporary work arrangements has continued to increase of the past few years. The reasons range from cost containment to the sourcing of more specialized skills and expertise or experience for specific projects and tasks.
While Hong Kong recognizes the aging workforce population and skills shortages related to high levels of employment, this market is also taking steps to encourage higher levels of female participation in the workforce. Programs range from incenting new mothers to return to work sooner under more flexible arrangements to increase engagement of the emerging workforce through non-wage benefits and flexibility.
Flexible work and remote work options may see an increase over the next few years as employers in this market begin to experiment with less traditional work arrangements and schedules. Long-held beliefs that physical presence equates to productivity are beginning to change as the millennial generation is aging into managerial and executive level positions within organizations.