How Hong Kong employers are gearing up to build a sustainable workforce in 2022

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The no.1 way to make a head start on creating a sustainable workforce is by investing in hiring, upskilling, and training talent, as shared by 64% of the 213 business leaders polled in the HKSAR.

Hong Kong companies have become more optimistic on business outlook, with almost eight in ten (79%) expecting organic revenue growth over the next 12 months.

As such, employers in Hong Kong are gearing up to build a sustainable workforce in 2022, and the #1 way to make a headstart on this is by investing in hiring, upskilling, and training talent, as shared by 64% of the 213 business leaders polled in the HKSAR.

Another one in three (34%) are planning to resort to this initiative in the near future, per insights from the latest HSBC Navigator: Future of Work.

Frank Fang, Head of Commercial Banking, Hong Kong, HSBC, said: “As the Hong Kong business community sees positive signs for growth, enhancing their workforce’s sustainability is a key priority to keep that engine running. We expect that businesses will continue to increase investment in their people to boost overall business resilience.”

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One way this investment in people is coming true is by employers responding to employee needs beyond financial incentives, and increasing emphasis on wellbeing and work-life balance.

Companies in Hong Kong are establishing the following benefits to help employees navigate the new normal:

• Flexible or reduced working hours (44%),
• Allowances for home office set-up (40%),
• Increased annual leave or time off (38%),
• Wellbeing guidance and resources (37%).

Many employers, per the report, also agree that future workplaces will go beyond simply an office space and instead, signify a place for employees to train, socialise, and collaborate.

As such, almost all local respondents (96%) agree an optimal working arrangement post-pandemic would be at least partially remote. Flexible working policies or hybrid working arrangements have also emerged as key elements for attracting and retaining talent (31%), beyond financial and career development.

Another priority that seems to be emerging among HKSAR companies is to improve the overall ESG credentials of the business (97%). Looking ahead, businesses plan to implement policies or targets for staff to put sustainability to exercise (e.g. pro-bono work) (45%), provide ESG training to the existing workforce (43%), and encourage work from home (42%).

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