Business Daily Media
Monday, April 7, 2025 4:43:14 AM

The Times Real Estate

.

Decision-makers’ demand for talent resilient despite softer overall hiring market, KPMG survey finds

Accessing more diverse talent polls and talent matching will be key for employers

HONG KONG SAR - Media OutReach Newswire - 15 March 2024 - Hiring sentiment overall in Hong Kong and the Chinese Mainland is softer.

However, a KPMG survey shows a more optimistic outlook from C-level executives in Hong Kong, suggesting that there is still a need for top talent who can drive results in their organisations.

For KPMG's annual report titled Hong Kong Executive Salary Outlook 2024 , 1,103 business executives and professionals were surveyed to measure employment trends and career opportunities. Among these, 552 work in Hong Kong or have a home base there and 551 work or have a home base in the Chinese Mainland. The research covered the latest headcount expectations, salary outlook, talent trends and other relevant topics.

David Siew, Partner, People Services, KPMG China, says: "This year's results signal that there will continue to be demand from C-level executives for talent that can drive performance. Ongoing business transformation and the changing business environment will mean that roles and responsibilities will continue to evolve. In 2024, accessing more diverse talent pools and talent matching will be key for employers."

Expectations for increased headcounts declined across all sectors compared to the prior year, with a corresponding increase in expectations for decreased headcounts. On the contrary, C-level decision-makers are more optimistic about headcount than the general workforce in 2024. Over 80% of executives are expecting no change or an increase in headcounts, with only 14% expecting a decrease. As these executives have better insight into their organisations' plans, their views may provide a better indicator of future trends.

In 2023, 43% of respondents sought career moves, but less than half that percentage (15%) landed new roles, reflecting that talent matching is becoming more challenging and enterprises are failing to match talent with job positions. 39% of respondents are looking to make career moves in the first half of 2024, representing an increase compared to last year despite a challenging market environment. 74% of respondents who made career moves in 2023 saw a salary increment, with an average increment of 17%.

From employers' perspective, 97% of the C-level and HR respondents experienced challenges in hiring the right talent to meet business demands. Among those, 63% found such challenges unmanageable.

Eric Cheng, Director, Executive Search and Recruitment (Hong Kong SAR), KPMG China, says: "While fewer job seekers landed new roles in 2023, they remain active. We see challenges around enterprises failing to match talent with job positions and employees lacking the specific skills sought. Against this backdrop, organisations can consider investing in training existing staff to retain talent, and accessing additional recruitment channels to find new talent. Relatedly, professionals looking to make career moves may need to upskill to meet the needs of the market."

Hong Kong professionals most commonly saw an increase of 3% to 5% following salary reviews with the same employer in 2023, which aligns with government figures showing an increment of 4.65% for civil servants in the middle and lower salary bands. Respondents in Hong Kong also remain optimistic about their salary outlook, with 78% expecting an increase in salary in 2024, compared to 74% last year. Most respondents are expecting modest increments in their upcoming salary reviews.

In 2024, 73% of respondents would consider relocating within or to the Greater Bay Area (GBA) for work. The top three factors luring them to the region are better career and industry prospects, higher income, and exposure to a greater breadth of work. Innovation and technology, financial services, and professional and consulting services are expected to present the most job opportunities in the GBA.

Hashtag: #KPMGChina

The issuer is solely responsible for the content of this announcement.

About KPMG China

KPMG China has offices located in 31 cities with over 15,000 partners and staff, in Beijing, Changchun, Changsha, Chengdu, Chongqing, Dalian, Dongguan, Foshan, Fuzhou, Guangzhou, Haikou, Hangzhou, Hefei, Jinan, Nanjing, Nantong, Ningbo, Qingdao, Shanghai, Shenyang, Shenzhen, Suzhou, Taiyuan, Tianjin, Wuhan, Wuxi, Xiamen, Xi'an, Zhengzhou, Hong Kong SAR and Macau SAR. Working collaboratively across all these offices, KPMG China can deploy experienced professionals efficiently, wherever our client is located.

KPMG is a global organization of independent professional services firms providing Audit, Tax and Advisory services. KPMG is the brand under which the member firms of KPMG International Limited ("KPMG International") operate and provide professional services. "KPMG" is used to refer to individual member firms within the KPMG organization or to one or more member firms collectively.

KPMG firms operate in 143 countries and territories with more than 265,000 partners and employees working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. Each KPMG member firm is responsible for its own obligations and liabilities.

KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.

In 1992, KPMG became the first international accounting network to be granted a joint venture licence in the Chinese Mainland. KPMG was also the first among the Big Four in the Chinese Mainland to convert from a joint venture to a special general partnership, as of 1 August 2012. Additionally, the Hong Kong firm can trace its origins to 1945. This early commitment to this market, together with an unwavering focus on quality, has been the foundation for accumulated industry experience, and is reflected in KPMG's appointment for multidisciplinary services (including audit, tax and advisory) by some of China's most prestigious companies.

News from Asia

Samsung Showcases Immersive 3D Experiences, OLED Excellence with New Odyssey Monitor Line-up in Singapore

Featuring the revolutionary Odyssey 3D, the updated Odyssey OLED G8 with the industry's first 4K 240Hz screen, and the new ultra-wide Odyssey G9, the new Odyssey monitor line-up is set to deliver u...

LANDMARK Hosts a One-Night Spectacle of Art, Design & Culinary Innovation

The Pioneering Collective We Are Ona, marks its second pop-up in collaboration with designer Alexandre de Betak, in Hong Kong, following first edition in Paris and with World’s Best Female Chef Ele...

Sony Hong Kong Named Official Imagery Partner for the Cathay/HSBC Hong Kong Sevens 2025

Empowering Photographers to Capture Breathtaking Moments with the Latest Camera Gears HONG KONG SAR - Media OutReach Newswire - 2 April 2025 - Sony Hong Kong is proud to be the Official Imagery Pa...

Galaxy Macau™ Presents: ANDREA BOCELLI Live in Concert – A Soul-Stirring Spectacle

Where Classical Majesty Met Modern Magic The “Voice of God” Ignites Galaxy Arena MACAU SAR - Media OutReach Newswire - 2 April 2025 - Galaxy Arena, Macau's new cultural landmark, hosted an unforge...

Hang Lung Properties and Tsinghua University Mark 15 Years of Impactful Partnership on Sustainable Urban Futures

The Hang Lung Center for Real Estate at Tsinghua University celebrates significant achievements in driving innovation in real estate and creating a greener future HONG KONG SAR & SHANGHAI, CHIN...

PolyU establishes Otto Poon Research Institute for Climate-Resilient Infrastructure with support from Otto Poon Charitable Foundation

Driving innovative solutions to tackle climate change and extreme weather challenges HONG KONG SAR - Media OutReach Newswire - 2 April 2025 - The Hong Kong Polytechnic University (PolyU) has estab...

Shenglong Electric showcases two AI-powered products in OFC 2025 to redefine smart electricity use

SAN FRANSICO, USA - Media OutReach Newswire - 3 April 2025 - On April 1 (Pacific Standard Time), the world's top optical communication event, the 50th Optical Fiber Communication Conference and Ex...

Aspire Secures Capital Markets Services Licence from Monetary Authority of Singapore

Gears up to launch Aspire Yield SINGAPORE - Media OutReach Neswire - 3 April 2025 - ASG2 Pte Ltd, a subsidiary of Aspire, a Singapore-headquartered all-in-one finance platform for modern businesse...

Coastline Wealth Management Honored with the Business of the Year Award by Kestra Financial

LONG ISLAND, US - Media OutReach Newswire - 3 April 2025 - Awarded "Business of the Year" at Kestra Financial's Ascend Conference in 2025, Coastline Wealth Management gives very optimistic projec...

Chubb Launches New Premier Life Science Package

Celebrating 20-Year Anniversary of Life Sciences Expertise in APAC SINGAPORE - Media OutReach Newswire - 3 April 2025 - Chubb today announced the launch of its new Premier Life Science package, a...

Bybit’s $1.5B hack: when people, not tech, are the weakest link

On the 21st of February, hackers pulled off what’s being called the biggest digital heist in history and managed to siphon $1.5 billion from the glo...

The top five lessons in leadership from a female CEO

Leadership isn’t about titles or hierarchy. It’s about people. It’s about creating an environment where your team feels supported, aligned with yo...

ATO scrutiny not slowing surge in small business restructures

Small Business Restructuring (SBR) appointments have tripled in the first half of the 2025 financial year¹, revealing both growing awareness of th...

Temu expands partnership with Adyen as it launches across more markets

Adyen, the financial technology platform of choice for leading companies, today announced its expanded partnership with Temu, the global e-commerc...

Blend AI scales up in the USA following ecommerce success

Sydney, Australia – 1st April, 2025: Blend AI, a leading Australian adtech company, has announced the opening of its first US office in Austin, Te...

Why the Way We Think About Employee Wellbeing Is Holding Us Back

Workplace wellbeing has finally reached the mainstream. It’s no longer seen as a ‘nice to have’ or an afterthought—it’s a core business issue. But d...

Sell by LayBy