Are you feeling the pressure of Hong Kong's talent shortage?

One of the main challenges facing Hong Kong employers in the years ahead is its talent mismatch. Are you already feeling the impact?

Employers tell us that suitable candidates are most difficult to source in accountancy & finance, banking, IT, and marketing. Finance Managers, Corporate Banking Relationship Managers, Data Analysts, and Communications Managers are just four of the professionals in high demand in Hong Kong right now.

High demand also exists in many other sectors such as HR, construction, insurance, legal, sales, property, and for office professionals. This skill shortage is only set to intensify thanks to the increase in business activity in Hong Kong over the past year.

Our 2015 Hays Asia Salary Guide shows that 64 percent of employers have seen an uptick in business activity over the previous year, and 72 percent expect an increase in the year ahead. With Hong Kong GDP expected to grow between 1 and 3 percent in 2015, the only way is up for the demand for highly skilled workers.

While this is great news for our economy, it will add further pressure to an already candidate-tight market. Without action from businesses and education authorities in Hong Kong to address the mismatch of skills, this issue will not go away.

You might find it interesting to see our recommendations on what organisations can do to find employees with the necessary skills and training for the roles that they have available. Also, employers will need to capitalise on Hong Kong's strengths in a bid to attract international candidates.

Looking ahead, there is a strong likelihood that candidates will develop their careers in more than one country in the future. And as Hong Kongers head overseas for opportunities, employers in Hong Kong will need to look to overseas workers to fill the void.

A key issue then will be how to attract local candidates, while meeting the challenges of the globalised job market in order to stay competitive in the global economy.