Technological development set to impact the Greater China employment landscape further in 2019
There has been strong economic growth across the Greater China region in 2018 and at the same time technology has fundamentally changed the hiring landscape as businesses seek to digitalise and become more technologically advanced.
In this article, we will give a summary of the hiring demand in Greater China in 2019 and what hiring managers need to pay attention to in order to attract the best talent.
Supported by various national initiatives such as Manufacturing 2025, Belt and Road and ‘Internet Plus’, Mainland China’s outbound investment and development of innovative technology maintained an upward trajectory in 2018.
E-commerce businesses are expanding both regionally and globally. As a result, many companies across a wide range of industries have been seeking professionals who are both familiar with global business and proficient in English, putting the level of demand for bilingual talent at an all-time high, in particular for those with international experience.
At the same time, the Southern China region is now known as Mainland China’s open innovation centre and is home to technological leaders as well as many digital start-ups. The heavy investment in data and research centres has also driven demand for tech talent.
Hong Kong job market yet again demonstrated a robust performance in 2018 with the unemployment rate falling to its lowest level in the past 20 years. Recruitment demand is expected to expand further in 2019, stemming from key growth drivers including the acceleration of technological development, digitalisation and government initiatives to promote and support innovation and technology.
With technology and digitalisation continuing to rise across multiple industries, businesses focus on improving efficiency through technology integration, leading to a higher demand for technology-savvy talent. As blockchain technology, artificial intelligence (AI), e-commerce and digital marketing are integrated into business operations, professionals with expertise in these areas are highly sought after. The rapid development of technology has also driven demand for tech-savvy talent for other sectors such as legal and compliance, supply chain and human resources, to name a few.
Taiwan continued to grow in 2018 at a steady pace as it has done over the past decade. The country also sustained strong export momentum in 2018 and there were signs of recovery in the retail sector. Job volumes grew considerably across multinational and local companies in 2018.
Last year, the Taiwan government announced the ‘five plus two’ innovative industries plan, which aims to upgrade Taiwan from contract manufacturing to a new commercial model centred on a high-value-added ‘Asian Silicon Valley’. The plan is expected to drive innovations and also the demand for technology talent across various industries in 2019, in particular automation, smart machinery and the Internet of Things (IoT).
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To hiring managers, one of the biggest challenges is to secure recruits from a limited pool of candidates with experience in high-tech and digital transformation projects.
Employers should consider adopting new digital technologies and platforms to create positive employee experiences, helping to attract and retain employees, in particular millennials.
Staff retention will continue to be a top priority for all organisations in 2019 and we advise that, in addition to paying competitive salaries, companies need to examine multiple factors, such as corporate culture, employer branding, learning and development opportunities, career progression and international mobility in order to retain the best talent.
Explore the hiring trends in Greater China further by downloading your free copy of the Robert Walters Salary Survey 2019 today.