Despite general global economic uncertainty, the world economy’s eastward shift continues. The Greater China region has maintained its growth momentum, led by the continued disruption in technological innovations, finds our latest Salary Survey 2018.
Demand for technology talent
China, Hong Kong and Taiwan all experienced an increase in demand for digital innovation and technology expertise. Automation, cloud technology, e-commerce, big data and cyber security were some of the key growth areas, with many companies in the region undertaking digital transformation projects for their future development.
A major drive by Chinese companies to internationalise their businesses led to heightened competition among hiring managers for bilingual professionals and those with experience working in international companies. The Chinese government also rolled out a series of initiatives and policies, such as ‘Internet Plus’ and ‘Made in China 2025’ strategies designed to sustain business confidence and support various industries, including technology and manufacturing.
Technology and innovation will continue to be engines for growth across multiple industries. Digital transformation projects are high on the agenda for many companies looking to maintain their competitiveness and cost efficiency. As a result, there will be high demand for technology professionals with various skill sets, such as DevOps, big data, cyber security and cloud. A scarcity of candidates will drive companies to pay higher salaries; we advise hiring managers to create defined career pathways to attract and retain the best talent.
Investment in the technology sector continues to evolve, supported by the ‘Asian Silicon Valley’ plan. We are also seeing an increase in professionals with regional experience and multilingual skills to support business restructuring. In general, Taiwan is still very much a candidate driven market, and we have noticed a flow of talent between China and Taiwan.
Contact us if you are looking for high-calibre technology talent in Hong Kong.
For a more in-depth look at our expectations for Greater China market in 2018, download your free copy of the 2018 Salary Survey today.