One in two local respondents said that they are struggling to acquire new skills to adapt to the pandemic in their current jobs. Globally, APAC workers struggle the most, as 52% share the same sentiment, 12 percentage points higher than the global average. This, according to the latest Randstad 2020 2H Workmonitor Survey, highlights the most significant concerns and challenges faced by jobseekers and employees. The Survey was conducted across 34 markets worldwide, with a minimum of 400 respondents in each market.
12% of Hong Kong respondents are afraid of losing their jobs, five percentage points higher than in Mainland China. Yet, the Survey revealed that Hongkongers are the least likely in the region to upskill to futureproof their employability. In Hong Kong, 25% of respondents do not regularly refresh their skills and competencies, compared to just 8% in Mainland China.
Natellie Sun, Managing Director of Search & Selection, Randstad Greater China, said, “Early on during the pandemic, it became clear that workers in some sectors, such as aviation and hospitality, were going to be affected more severely than others. As the pandemic drags on, many companies started to re-skill and deployed their workforce to essential services such as e-commerce and healthcare.” She added, “Post-COVID will never be the same as pre-COVID times. Digital transformation has significantly changed the way traditional industries operate. Banks and financial institutions developed more online products and services, manufacturing and logistics firms started looking into automation and robotics, and retail firms and restaurants made their debut on e-commerce platforms. This directly impacts the workforce as the fundamental knowledge and skills required for these new solutions are different from what the existing workforce is equipped with. To close the skills gap, employees must proactively upskill and re-skill themselves to ensure they stay relevant, employable and better prepared for whatever crisis that may arise in the future.”
Almost three-quarters of Hong Kong respondents are confident that they have the transferable soft skills required to find a job at a different company or industry—the lowest levels in the region. In contrast, for talent in Mainland China, 94% felt comfortable that they had the skills, with 86% in Singapore believing they have the required skills.
Just over half of respondents said that the responsibility for keeping their competencies up to date should be shared between employer and employee, with 28% stating the responsibility lies solely with employers. Sun said, “While businesses favour the benefits that digital transformation brings, some workers may be left behind as their skills are no longer required in the new normal. The widening skills gap will also have a long-term impact on the workforce. As the eligible talent pool starts shrinking, companies may have to offer higher salaries to attract desirable candidates, which is not sustainable in the long run. Hence, there is a critical need to develop our human capital with a focus on upskilling and re-skilling to ensure that everyone has an equal chance at employment, which will eventually lead to more investments and job opportunities in Hong Kong.”
Paul Arkwright
Publisher
