Only 38 per cent of organisations in Hong Kong SAR plan to increase headcount, lowest in Asia according to Hays Asia Salary Guide

Hong Kong SAR, 26 Mar 2025 – Insights from the 2025 Hays Asia Salary Guide reveal that only 38 per cent of organisations in Hong Kong SAR were planning on increasing their headcount, the lowest percentage among six locations surveyed in Asia which include Hong Kong SAR, China, Japan, Malaysia, Singapore, and Thailand. 

The survey conducted by Hays across six weeks in late 2024 gathered insights from 3,670 hiring managers regarding skill shortages they faced within their organisations. Respondents were also queried about reasons related to skill shortages, positions that were difficult to fill and anticipated changes in headcount in 2025. 

In Asia: Skill shortages due to high competition from other employers 

62 per cent of hiring managers admitted to encountering ‘moderate to extreme’ skill shortages in 2024, with an additional 26 per cent facing minor skill shortages. When asked about the main causes of these shortages, 47 per cent attributed it to ‘competition from other employers’. Additionally, 33 per cent considered ‘pay levels’ to be the main contributing factor, while 27 per cent cited a ‘lack of progression opportunities’. 

When examining the types of positions organisations were struggling to fill, intermediate-level roles were particularly challenging (55 per cent), followed by management positions (37 per cent), entry/junior-level roles (20 per cent), C-Suite positions (13 per cent), and director roles (12 per cent). In response to these findings, 33 per cent of hiring managers indicated that ‘employee retention’ was a key HR investment focus for 2024 and 2025, while 27 per cent were focused on ‘employee recruitment’. 

Hong Kong: Readjusting for headcount 

Employee recruitment scored lowest on the priority list of HR investment focuses for organisations in Hong Kong (21 per cent) compared to other locations. This is reflected in how hiring managers appear to view the need for headcount. 

In 2024, Hong Kong led the way in manpower growth, achieving a remarkable 53 per cent increase, outpacing Japan (46 per cent), Thailand (45 per cent), and Malaysia (43 per cent). However, the focus appears to be shifting in 2025. 

"Only 38 per cent of organisations in Hong Kong are looking to increase their headcount in 2025," said Sue Wei, Managing Director at Hays Greater China. "Retention has taken greater priority among HR leaders this year, with 29 per cent of organisations looking to strengthen existing policies to prevent talent drain.” 

While competition from other employers was identified as the chief concern (39 per cent) contributing to skill shortages in Hong Kong, 27 per cent of hiring managers also attributed the talent deficits within their organisation to ‘fewer people entering the job market’ in their industry, the highest percentage in Asia. 

“Organisations in Hong Kong found intermediate-level positions to be the most challenging to fill, with 47 per cent of hiring managers indicating difficulty. It will be critical for leaders to be able to address retention rates at this level to avoid impacting operational efficiency.” said Sue. 

Upskilling is key 

While intentions to hire were more conservative compared to other locations in Asia, organisations in Hong Kong have not been spared from talent deficits. 48 per cent of hiring managers admitted to their organisations experiencing ‘moderate to extreme’ skill shortages in 2024. 

When asked which soft skills were most in demand by organisations in Hong Kong, the ‘ability to learn and upskill’ emerged on top (38 per cent). This is followed by ‘communication and interpersonal skills’ (28 per cent) and the ‘ability to adopt and change’ (26 per cent). 

“With talent availability at a premium in Hong Kong, employers are prioritising candidates who display a willingness to upskill themselves. Professionals who demonstrate a commitment to continuous learning and skill enhancement can significantly improve their chances of securing desirable positions,” said Sue. 

A copy of the 2025 Hays Asia Salary Guide is available here. 

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Contact 

For more information contact: 

Emerson Cheung, Senior Marketing Executive, Hays

T: 2101 0030

E: emerson.cheung@hays.com.hk

About Hays Hong Kong SAR   

Hays Specialist Recruitment Hong Kong is the one of the leading specialist recruitment companies in Hong Kong SAR in recruiting qualified, professional and skilled people across a wide range of industries and professions.   

Hays has been in Hong Kong SAR for over a decade and boasts a track record of success and growth. At Hays in Hong Kong SAR, we operate across the private and public sector, dealing in permanent and contracting positions, and workforce solutions such as recruitment process outsourcing (RPO) and Managed Service Programmes (MSP) in the following specialisms: Accountancy & Finance, Banking & Financial Services, Construction, Digital Technology, Engineering, Finance Technology, Human Resources, Information Technology, Insurance, Legal, Life Sciences, Marketing & Digital, Office Professionals, Property, Procurement, Supply Chain, Sustainability and Sales. We continue to strengthen our position in Asia with the world-leading ISO 9001:2015 certification in all our operational markets including Hong Kong SAR, China, Japan, Malaysia, Singapore, and Thailand.  

About Hays 

Hays plc (the "Group") is the world’s leading specialist in workforce solutions and recruitment, such as RPO and MSP. The Group is the expert at recruiting qualified, professional, and skilled people worldwide, being the market leader in the UK, Germany, and Australia and one of the market leaders in Continental Europe, Latin America, and Asia. The Group operates across the private and public sectors, dealing in permanent positions, contract roles and temporary assignments. As of 30 June 2024, the Group employed over 11,100 staff operating from 236 offices in 33 countries. For the year ended 30 June 2024: 

– the Group reported net fees of £1,113.6 million and operating profit of £105.1 million. 

– the Group placed around 57,700 candidates into permanent jobs and around 225,000 people into temporary roles. 

– 13% of Group net fees were generated in Australia & New Zealand, 32% in Germany, 20% in United Kingdom & Ireland and 35% in Rest of World (RoW). 

– the temporary placement business represented 59% of net fees and the permanent placement business represented 41% of net fees. 

– Technology is the Group’s largest division, with 25% of net fees, while Accountancy & Finance (15%) and Engineering (11%), are the next largest. 

– Hays operates in the following countries: Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, the Czech Republic, Denmark, France, Germany, Hungary, India, Ireland, Italy, Japan, Luxembourg, Malaysia, Mexico, the Netherlands, New Zealand, Poland, Portugal, Romania, Singapore, Spain, Sweden, Switzerland, Thailand, UAE, the UK, and the USA.