With unemployment rate in Hong Kong almost at an all-time-low and increasing employer expectations for talent with specialised skills, companies will need new workforce strategies to address their challenges as competition for talent will only continue to heat up.
Confronted with talent scarcity and cost management challenges, employers in Hong Kong are increasingly exploring flexible workforce solutions, including the hiring of contract workers.
Large organisations have been recalibrating their operations to adapt to evolving market dynamics and the demands of digital transformation. Companies have been assessing their resources and streamlining operations with a focus on efficiency and cost control.
Through this, we see that middle and senior-level professionals are more likely to face the brunt of the bad news, as we have seen in banking and financial services, legal, and technology industries. To bridge this workforce gap, many companies are now turning to contract hires for their specialised skills and knowledge.
When hiring talent — whether to work on projects or temporarily — we have observed that hiring expectations have increased across the board.
Employers value talent for their expertise and industry knowledge from their previous roles as they bring outside-in perspectives to longstanding challenges. Companies are also particularly interested in candidates proficient in various software platforms, as familiarity with modern tools facilitates quicker integration into roles.
contracting job trends in hong kong
In the technology sector, companies are increasingly tapping into the global talent pool to recruit skilled workers specialising in areas where local talent is scarce, such as data science, cybersecurity, and artificial intelligence. Additionally, there is a growing demand for crucial roles in sales, business development, and customer service, as companies prioritise revenue generation.
We also anticipate a rise in hiring within the education and healthcare sectors, which face similar talent shortages. This demand is largely driven by an ageing population that requires more healthcare services. Hong Kong's education sector is adding new schools and improving facilities to support rising enrollment.
Despite the prevailing hiring sentiments in the banking and financial services against the global economy backdrop, contract job opportunities are being created in insurance, asset management, and securities.
We anticipate an increase in sales-related positions within front office roles, as well as in sales and marketing as companies focus on enhancing revenue generation and meeting client needs alongside increasing market activities.
offer job security with longer contracts and completion bonus to attract talent
While hiring contract workers provides employers with greater cost efficiency and workforce flexibility, there remains a level of caution similar to what we observe in permanent hires. Companies are carefully evaluating the necessity of adding additional headcount, whether temporary or permanent, to ensure higher output per worker.
Furthermore, job seekers may hesitate to pursue contract roles, as they prioritise job security, especially in a less active labour market with fewer job opportunities. Despite the potential to bring home a higher pay, candidates would choose to sign a permanent employment contract role when given the choice.
To meet the demand for stability among job seekers, companies can consider offering longer contract durations to provide a greater sense of security for those willing to accept contract roles. Flexible contracts that include annual reviews and potential extensions may encourage some job seekers to consider these opportunities more seriously.
download randstad hong kong’s 2025 job market and salary trends report
Our 2024 Job Market and Salary Trends report cuts through the complexity to deliver actionable insights and expert analyses from our business leaders in Hong Kong SAR.
In our report, you can find 2025's salary benchmarks to more than 100 contracting jobs in banking, financial services and technology, ranging from compliance to enterprise technology solutions. Download the report to compare salary packages and assess if your offerings attract job seekers to contracting roles.
The report examines key talent expectations as well as current industry trends and salary benchmarks in the following industries:
- Accounting and finance
- Banking and financial services
- Business support
- Construction, property and engineering
- Human resources
- Insurance
- Legal
- Life sciences and healthcare
- Luxury and retail
- Supply chain and logistics
- Sales and marketing
- Technology
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