Hong Kong SAR, 1 April 2025 – KPMG China has released its ninth annual Hong Kong Employment Outlook survey, providing a comprehensive analysis of key employment trends and workforce challenges in the region. The report sheds light on headcount expectations, salary projections, and talent management strategies, offering valuable insights for organisations navigating Hong Kong’s dynamic employment landscape.
The findings indicate a cautiously optimistic hiring sentiment among C-level executives for 2025, though overall headcount expectations have slightly declined across most sectors compared to the previous year. The survey, conducted between 2 and 14 January 2025, gathered responses from 425 Hong Kong business leaders and professionals, with 53% representing organisations headquartered in Hong Kong. Additionally, this year’s survey expanded its scope to Singapore, with insights on that market published separately.
David Siew, Head of People Services, Tax, KPMG China, commented on the shifting employment landscape: “Evolving business needs, shifting workforce demographics, and technological advancements will drive Hong Kong’s employment market. Organisations will need to strike a balance between the optimisation of their operations and the evolving expectations of the workforce for long-term success.”
Key Findings from the Report:
- Cautious Hiring Sentiment: While 76% of C-suite executives anticipate maintaining or increasing headcount in 2025, rising uncertainty suggests a more measured approach to hiring.
- Subdued Salary Growth: 74% of professionals expect a salary increase in 2025, down from 78% in the previous year.
- Declining Job Mobility: Career moves have been on a downward trend, with only 14% of respondents switching jobs in 2024, compared to 15% in 2023 and 23% in 2022.
- Rising Demand for Stability: Non-monetary factors are playing a greater role in job selection, with 39% of professionals prioritising job stability, up from 31% in 2024.
- Talent Acquisition Challenges: 97% of C-suite and HR respondents reported difficulties in hiring skilled talent, with 53% describing these challenges as particularly severe.
The report also highlights the increasing adoption of generative AI within Hong Kong businesses, with over half of respondents stating their organisations had integrated AI tools in the past year.
Additionally, the survey underscores growing opportunities within the Greater Bay Area (GBA), with 65% of respondents indicating their companies are either already operating in or planning to expand into other GBA cities within the next three years. The region presents an expanding talent pool, with 51% of C-suite and HR respondents hiring talent from Mainland China in 2025, while 28% sourced professionals from overseas markets.
As businesses continue to navigate evolving workforce trends, the report emphasises the need for a balanced approach that aligns corporate strategies with workforce expectations, ensuring sustainable growth and talent retention in Hong Kong’s employment market.
