Nearly 4 in 10 Hong Kong employers expecting increase in hiring

AI found to fuel hiring in financial hub, survey says

Nearly 4 in 10 Hong Kong employers expecting increase in hiring

More than a third of employers in Hong Kong are expecting to hire more people in the third quarter of 2024, according to the latest ManpowerGroup study.

The report found that 37% of employers are anticipating an increase in hiring, 29% are expecting a decrease, while 32% are not reporting any changes to their headcount.

As a result, Hong Kong's Net Employment Outlook for the third quarter stood at eight per cent, down by seven per cent from the previous quarter and -25% compared to the same period last year.

The information technology sector recorded the highest employment outlook with 32%, while the transport, logistics, and automotive industry registered a -17% for the third quarter.

Source: ManpowerGroup

AI fuelling hiring in Hong Kong

Meanwhile, the report also found that 47% of employers in Hong Kong are planning to increase their headcount as a result of AI and machine learning.

By sector, the Financials and Real Estate (59%) as well as Information Technology (56%) reported the highest number of employers expecting a headcount increase from AI and ML

Only 27% of employers in Hong Kong are expecting a decrease in headcount due to AI and ML, with the Consumer Goods and Services sector leading them (35%).

Source: ManpowerGroup

These findings come as 52% of Hong Kong employers said they have already adopted AI, with 25% planning to implement it in the next 12 months.

According to these employers, the top changes brought about by AI in the workplace include:

  • Overall business performance (68%)
  • Required employee training (66%)
  • Upskilling/reskilling of existing employees (65%)

On the other hand, the challenges cited by those who adopted AI include:

  • High cost of investment (48%)
  • Workers don't have the skills to use AI effectively (39%)
  • Concerns about privacy and regulations (38%)

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