Talent shortage has become the primary challenge businesses face in 2022. Getting ahead of unfolding developments in the market is essential for hirers who are looking to acquire the right talent and build a stable candidate pool. JobsDB by SEEK, the leading employment platform in Hong Kong, hosted the Forward Together - Soar towards the Future of Hiring event at Sky100 in Hong Kong. The event gathered C-level management and senior HR executives from top companies in the city and showcased innovative solutions to empower employers in a rapidly changing employment landscape. The evening also featured a fruitful panel discussion that shed light on challenges in hiring and retaining talents and explored the best approach to the future workplace.
The pandemic has reshaped the region's need for talent and specialisations, leading to skill-set mismatches. This mismatch is one of the root causes of the growing talent shortage - a significant issue for 68% of businesses facing recruitment challenges, according to JobsDB's Hiring, Compensation and Benefits Report 2023. To come to grips with the situation, Lewis Ng, Chief Operating Officer, SEEK Asia, introduced the newly launched Ad Budget and demonstrated JobsDB's all-rounded HR solution as an enhanced service delivery package for hirers. By offering applicant tracking system, payroll and HR management, candidate assessment with AI technology and intuitive learning platforms, the new model gives hirers the flexibility and control to choose ad types for individual listings, as opposed to the current system of fixed costs for specific ad types. This serves as a solution to not only encourage hirers to plan and utilise their budgets more effectively, but also aid organisations such as small-medium enterprises and startups, that might have tight hiring budgets to win in the hiring market.
Peter Bithos, Chief Executive Officer, SEEK Asia, shared his thoughts on the new model: "As our employment landscape continues to evolve, we see a lot of opportunities to learn and grow to adapt to these changes. As a trusted career and talent partner in both Hong Kong and across the region, JobsDB by SEEK is dedicated to empowering employers and job seekers to navigate through this constantly changing landscape with ground-breaking solutions to help them stay at the forefront of such volatile times. What we have showcased today is just the start of more exciting plans as we move Forward Together and overcome the challenges ahead of us."
Attended by C-level management and senior HR executives from top organisations in Hong Kong, the event also set the stage for a panel discussion on how to accelerate Future Workplace enablement in the city. Moderated by Bill Lee, Managing Director, JobsDB Hong Kong, the panel also included esteemed speakers: Mr John Tsang, Founder of Esperanza, Ms Vince Wong, Senior Vice President, COO, Human Resources of DBS Bank (Hong Kong) Limited, Ms Samantha Kwok, Vice President, People and Culture of Prenetics and Mr Peter Ng, Vice President Technology & Deputy Head of Hong Kong of ASMPT Limited. The top executives addressed challenges that employers across the market and industries face and shared insights on initiatives that embrace the future of the workplace. Covering a broad range of topics, the discussion created an engaging and enriching experience for the attendees.
One of the most important topics to be discussed surrounds the recruitment difficulties faced by the market and the various challenges brought by human resources shortage, JobsDB by SEEK revealed in the latest statistics that more businesses actively deployed multiple recruitment channels and are willing to explore novel approaches in hiring:
- 52% of employers are more willing to offer better pay and benefits to new recruits, up 11% from last year
- 53% of respondents have employed fresh graduates in the past year for junior roles, hitting a three-year high
- Over 55% of employers setting sights on employing overseas workers
Commenting on the potential ways to get out of the talent deficit while facing a surge in demand for the workforce, Bill Lee said, "The pandemic has reshaped people's perception of work; at the same time, all the sectors are undergoing reorientation and drastically transforming, which leads to a great challenge of recruiting talents with a suitable skill set. To triumph over the fierce fight for good talent, the key is to be proactive and accurate. Recognizing the increasingly complex HR function and the trend of Human Capital becomes a competitive business advantage. JobsDB is transforming and going beyond a job search site. With cloud-based, agile, integrated solutions that add value, optimized time-resources and solutions-suite span across talent recruitment, employer branding, Learning & Development, HR automation and more, we would elevate and propel HR forward."
Ian Thomas
