Hong Kong SAR’s Human Resources Industry Outlook & Salary Trends 2024

The human resources and business support industry in Hong Kong is expected to undergo significant changes in 2024, primarily driven by digital transformation and shifts in geopolitical landscapes. Through these changes, new types of jobs will be created and some traditional roles retired in the face of automation and technology.

Navigate the evolving job landscape and secure top talent in 2024 with Randstad Hong Kong's Market and Salary Outlook Report. Discover key labour trends and employer insights on salaries, bonuses, hiring trends and talent expectations in the technology industry.

Download the full report to gain valuable insights for your talent attraction and workforce planning strategy in 2024.

automation drives demand for specialised HR skills amid talent scarcity

Digital transformation is reshaping the human resources industry, creating new roles and replacing others. As companies continue to value robust and highly-specialised HR teams to drive organisational change, there will be a surge in demand for professionals who are skilled in Human Resource Information Systems (HRIS) and Learning & Development (L&D).

Simultaneously, we expect a decrease in demand for administrative and repetitive tasks due to increased automation. However, the rise of automation doesn't mean a blanket replacement of all human roles. Tasks like payrolling, which are often perceived as mundane, remain crucial and require human intervention for accurate data input and internal verification.

Though technological advancements are making processes more efficient, the demand for payroll talent is expected to rise. Professionals in these roles potentially may see up to a 50% salary increment when changing jobs. The salary increase stems from the lack of talent, as payroll experts often move on from their roles to seek deeper specialisations within the human resources industry.

regional relocation and consolidation driving changes in talent supply and demand

Geopolitical shifts and the enduring impact of the COVID-19 pandemic have led to notable shifts in the talent landscape in Hong Kong SAR. A significant trend is the reduction in regional roles based in the region as companies relocate their regional hubs to mainland China, particularly Shanghai and Beijing, as well as emerging markets like Vietnam. Consequently, the influx of talent is predominantly from mainland China, with fewer professionals relocating from Western countries.

In view of this shift, proficiency in Mandarin is increasingly valued by employers, and candidates who are multilingual are deemed more attractive. Companies also have a hiring preference for human resources professionals whose monthly salary ranges between HKD20,000 and HKD55,000 for middle-management positions. Skilled talent in this area who are looking for jobs in the market will have a variety of options and can expect the highest pay raises.

2024 human resources talent trends

In 2024, hiring trends within the human resources and business support sector will largely depend on the confidence of the financial services market. When the volume and value of investments in Hong Kong SAR increases in the second half of 2024, we predict that hiring activities will increase correspondingly.

Employers will be looking for individuals with strong technical skills, as well as digital competencies and experience using HR and workforce management systems such as Workday. Soft skills remain equally important, with an emphasis on strong people skills and emotional intelligence.

In terms of talent movement, more individuals will likely switch employers in 2024 compared to 2023 as they seek new opportunities after a period of minimal movement and riding out the challenging times.

salary outlook in the human resources industry

The projected average annual salary increment for talent looking to switch employers within the human resources and business support industry in 2024 is expected to be around 10% to 12%. However, it's worth noting that this trend may not be true for all roles. For instance, professionals in payrolling roles might see substantial salary increases when switching jobs due to the high demand and limited supply of qualified candidates.

Apart from salary, HR and business support professionals highly value job security and work flexibility, including remote work options. Going into 2024, these factors will continue to play a significant role in shaping the employment landscape in Hong Kong's human resources industry.

download hong kong SAR’s human resources industry 2024 market and salary outlook report.

The 2024 Randstad Hong Kong SAR’s Market and Salary Outlook report looks at talent analyses, key trends and new salary benchmarks in the following industries:

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