The Growing Demand for Workers in Development Sectors
In a recent study conducted by the Hong Kong Institute of Human Resource Management, it was revealed that the development and real estate sectors are expected to experience a surge in demand for workers over the next three years. The study, which involved 300 companies across 20 different sectors, highlighted the need for more manpower in fields such as architecture, engineering, and construction.
According to the findings, the overall workforce in Hong Kong is projected to grow by two percent by the year 2028. However, the demand for workers in the development sectors is expected to outpace this growth significantly, with an estimated increase of up to nine percent. This spike in demand can be attributed to major development projects like the Northern Metropolis and Kau Yi Chau Artificial Island, which require skilled professionals to bring them to fruition.
Impact of Technological Advances on Various Sectors
While the development and real estate sectors are poised for growth, other industries may not be as fortunate. The study revealed that technological advancements are likely to result in fewer job opportunities in sectors such as retail, transportation, and media. As automation and digitalization continue to reshape the workforce, companies in these sectors may need to reevaluate their staffing needs and skill requirements.
Lawrence Hung, the president of the Hong Kong Institute of Human Resource Management, emphasized the importance of the government adapting to these changing dynamics. He called on authorities to listen to industry feedback and implement proactive measures to help businesses fill vacancies. Additionally, Hung suggested adjusting talent admission schemes to attract overseas talent and supplement the local workforce effectively.
Challenges and Opportunities for the Workforce
The shifting landscape of the job market presents both challenges and opportunities for the workforce in Hong Kong. While some sectors may experience a decline in job opportunities due to automation, others are poised for growth and in need of skilled professionals. This underscores the importance of upskilling and reskilling to meet the evolving demands of the labor market.
To address the growing demand for workers in the development sectors, individuals may need to consider pursuing education and training in fields like architecture, engineering, and construction. By acquiring relevant skills and qualifications, job seekers can position themselves as valuable assets to companies embarking on major projects in Hong Kong.
In addition to acquiring technical skills, individuals may also benefit from developing soft skills such as adaptability, communication, and problem-solving. As industries evolve and technology continues to play a prominent role in the workforce, employees who demonstrate a willingness to learn and adapt are more likely to succeed in the competitive job market.
The Role of Government in Talent Recruitment
Lawrence Hung’s call for the government to adjust its talent recruitment efforts is crucial in ensuring that the workforce in Hong Kong remains competitive and resilient. By listening to industry feedback and implementing proactive measures, authorities can help businesses address their staffing needs and support economic growth.
One of the key suggestions put forth by Hung is the adjustment of talent admission schemes to attract overseas talent. By supplementing the local talent pool with skilled professionals from abroad, companies in the development sectors can access a broader range of expertise and experience. This not only benefits individual businesses but also contributes to the overall growth and success of the economy.
In conclusion, the findings of the study conducted by the Hong Kong Institute of Human Resource Management highlight the importance of preparing for the changing dynamics of the job market. As demand for workers in the development sectors increases, individuals and businesses must adapt to meet these evolving needs. By investing in education, training, and skill development, the workforce in Hong Kong can position itself for success in a rapidly changing economic landscape.