6 in 10 HK employers to hire contractors in 2024

Key reasons for this include short-term project flexibility, budget constraints, and the need for specialised skills.

Sixty three percent of employers in Hong Kong are planning to hire contractors this year, according to a survey by recruitment firm Robert Walters.

The survey, which polled over 300 business decision-makers across various sectors, said that 51% of those planning to hire contractors in 2024 had already initiated recruitment in 2023, with only 12% not hiring any contractors last year.

Sectors such as IT, accounting & finance, human resources, and business support are particularly active in seeking contract talent.

Employers cited several reasons for turning to contract workers, including the flexibility to staff short-term projects (43%), budget constraints on permanent headcounts (29%), and the need for specialised skills (20%). 

Matthew Sullivan, senior manager of Robert Walters' Hong Kong financial services contract division, noted the critical role of contractors in providing agility and specialised skills amidst economic uncertainties.

Additionally, the report said that the traditional aversion to non-permanent roles amongst Hong Kong professionals is gradually shifting. 

More professionals are embracing contractor positions to gain exposure to diverse industries and technologies within a condensed timeframe.

Pinki Chan, manager of Robert Walters' Hong Kong tech and transformation contract division, said that contractor roles offer professionals opportunities to enhance their skills and work on impactful projects.

Young professionals, particularly from Generation Z, are increasingly drawn to contractor roles for their flexibility and career enrichment potential, as per Robert Walters' top talent trends in recruitment guide.

Pinki pointed out that these roles allow for greater work-life balance and the opportunity to pursue additional training, aligning with Gen Z's preferences for remote or hybrid work arrangements.

The survey also cited challenges in sourcing skilled contractors, prompting employers to explore talent pools beyond Hong Kong. "This "talent crunch" is driving employers to explore new avenues for finding the specialised expertise they require," it noted.

Meanhwile, the Greater Bay Area (GBA) emerged as a significant source of skilled labor, supported by initiatives like Hong Kong's Top Talent Pass Scheme (TTPS).