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General Chamber of Commerce: 38% of the companies surveyed said they were negatively affected by the departure of their employees from Hong Kong

2022-03-04T05:55:58.730Z


According to a recent survey conducted by the Hong Kong General Chamber of Commerce (HKGCC), the recent wave of immigration has led to a drain of skilled talent, affecting both large and small businesses. The survey pointed out that a total of 38% of the companies surveyed said that employees


According to a recent survey conducted by the Hong Kong General Chamber of Commerce (HKGCC), the recent wave of immigration has led to a drain of skilled talent, affecting both large and small businesses.

According to the survey, a total of 38% of the companies surveyed said they were relatively negatively affected by the immigration of their employees, ranging from "moderate" (24%), "high" (12%) and "very high" (2%).

While more than half (58%) of companies surveyed expect employee turnover due to immigration to level off in 2022, about 35% of respondents are less optimistic, believing that the talent shortage will worsen.

General Chamber of Commerce Chairman Wang Dongsheng said that the success of Hong Kong depends on the contribution of technical talents, so the problem of brain drain cannot be ignored, especially when Hong Kong is facing the trend of an aging population.

He said Hong Kong was now facing the largest exodus of highly educated brains since the early 1990s, which would have a major knock-on effect on the economy.

Human resources are very important to Hong Kong's service-led knowledge-based economy. If the brain drain cannot be stopped, the situation will be worrying.

Immigrant employees come from a variety of specialties, including engineering and technology, finance and accounting, and information technology.

The majority of immigrant employees are middle-aged. The interviewed companies pointed out that immigrant employees mainly belong to the two age groups of "30 to 39 years old" and "40 to 49 years old".

In terms of rank, compared with ordinary employees and senior management, middle and junior management are more likely to leave Hong Kong for development.

Wang Dongsheng pointed out that middle-level employees are the mainstay of the company, and the faults arising from the loss of these employees will pose challenges to business operations.

In addition to the expenses required to recruit and train new employees, companies also face other hidden costs, such as time costs and hindered business growth.

Large companies are actively addressing brain drain, 61% and 51% respectively.

Large enterprises surveyed said they would "strengthen succession planning and recruitment" and "increase automation and digitalization"; in contrast, the ratios of SMEs were only 28% and 35% respectively.

At the same time, large enterprises are also prepared to increase their budgets. 39% and 37% of the surveyed companies will consider "increasing wages and benefits" and "developing employee retention plans" respectively, while the relevant ratios of SMEs are 13%, respectively. % and 11%.

Wang Dongsheng concluded: "The competition for talent around the world is fierce, and Hong Kong must try to attract and retain talent. To curb the tide of immigration, the government should regularly review relevant policies to maintain Hong Kong's attractiveness as a place to live and work, as well as a capital for further education and education. "

Source: hk1

All news articles on 2022-03-04

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