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.”
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%).