Ranked second in Asia Pacific and sixth worldwide in the ICT Development Index published by the International Telecommunication Union (ITU), Hong Kong’s ICT sector is among the most advanced in the world. The quality of the industry rests largely on the calibre of IT professionals, and new research independently commissioned by specialist recruiter Robert Half reveals exactly what incentives IT employers are using to attract and retain top performing talent.
What’s on offer to attract IT talent
According to the survey of 75 CIOs, the top three initiatives on offer to attract IT talent are remote working (49%), higher remuneration levels – such as base pay and bonuses – (48%), and flexible work schedules (44%), suggesting that lifestyle benefits, combined with a higher salary, are key to attracting the IT workforce of the future.
What’s on offer to retain IT talent
Similar trends apply to staff retention. To avoid losing their top performers, Hong Kong’s IT employers are being proactive in their approach to staff retention. The top three initiatives CIOs have focused on over the last three years to retain staff are increased salary (59%), flexible work schedules (43%) and increased employee benefits (43%).
Adam Johnston, Managing Director of Robert Half Hong Kong says: “Hong Kong’s role as a leading technology hub in the Asia Pacific region owes much to the quality of IT professionals who work in the sector. Companies hoping to compete in an innovative landscape need the best IT talent to manage new and evolving technologies.”
“Due to the ongoing skills shortage, IT candidates are firmly in the driver’s seat when it comes to salary negotiation. Most companies are aware they need to reward their existing staff with above-average pay increases or risk losing them to the competition, which is why it’s essential employers frequently benchmark the salaries they offer to industry standards to make sure they’re competitive.”
“Companies are also diversifying their incentives to offer a more balanced lifestyle that appeals to the modern IT worker. Combined with remuneration, lifestyle and workplace benefits packages need to be tailored to the individual employee and their needs, which needs to be of an ongoing conversation between managers and their staff.”