The Future of Work in Hong Kong

Much has been said about the future of work in Hong Kong, and predictions abound about the many ways that jobs will change in the years to come.

With the outbreak of COVID-19, the workplace has only evolved at an ever-greater pace. Many businesses are forced to change the way they operate, such as implementing remote work and hybrid arrangements for their employees.

As new technologies like Artificial Intelligence spring up and demographics change due to many expats and locals leaving the city, the current workplace in Hong Kong will be very different from what was in the past.

What to Expect in a Workplace of The Future

The workplace is constantly changing, and it can be difficult to keep up with the latest trends. However, understanding what changes are on the horizon can help individuals stay ahead of the curve and be better prepared for the future. Here's what one can expect in a workplace of the future in Hong Kong.

1. Rise in automation and digitalization

With the rise in technology, jobs that can be replaced by machines or software will disappear. This shift can be seen across many industries, especially in financial services, one of the largest industries in Hong Kong. Workplaces will also be more connected than ever before. Employees will be able to access information and speak to colleagues from anywhere in the world with the help of the Internet and teleconferencing tools.

2. Growing gig economy

More and more individuals are seeking out opportunities to work independently as freelancers or contractors in Hong Kong. In fact, the number of people working in the gig economy has increased by a staggering 40 percent over the past six years, according to a recent study. Whether it's driving for Uber, renting out a room on Airbnb, or completing tasks on Fiverr, there are a variety of ways to make money without traditional employment in Hong Kong. For many individuals, the gig economy offers the flexibility and independence they crave.

3. Greater employee wellness and work-life balance

The traditional 9-5 job is becoming a thing of the past globally. COVID-19 has shown that businesses are able to operate normally even with remote working options. To attract and retain top talent, companies in Hong Kong are now placing a greater emphasis on employee wellness and work-life balance, such as offering flexible hours and remote working options. Workers can look forward to having more control over their schedules and greater welfare perks. With these benefits, organizations can create a more positive and productive work environment as well.

How To Prepare For The Future of Work

The future of work is changing, and it's important for Hong Kong workers to be prepared so they can  make informed decisions about their careers and adapt accordingly. Here are three tips on how to prepare for the future workplace.

Tip #1 Network and meet new people

In today's business world, networking is more important than ever. By building relationships with other professionals, individuals can create opportunities for themselves and their businesses. It can also help individuals find new potential customers or clients as well as suppliers or partners to work with. Gaining access to these valuable resources and contacts can help one to quickly achieve his goals.

Tip #2 Stay up-to-date with industry trends

Staying up-to-date on industry trends is important for an individual’s career development. It can help individuals understand what changes are happening in one’s field and how to stay ahead of the competition. For example, the tech industry is gaining prominence both locally and internationally. By keeping up, employees can identify new opportunities and learn new skills that are valuable to their organizations. 

Tip #3 Being flexible

Due to the advance in technology, the concern of automation putting jobs at risk is very real, with over 56 per cent of Hong Kong workers feeling this way. Job security worldwide will become increasingly rare. Employers are now valuing skills such as critical thinking, communication, and collaboration over specific job training. Hong Kong workers will need to stay adaptable, such as being open to change and be willing to learn new things throughout their careers to stand out from the crowd. 

Soar to Greater Heights With A Smart Career Platform

As Hong Kong continues to grow and evolve, its workforce must change as well. At Lobahn, we’re a technology-focussed career platform that leverages AI to connect high-potential employees with leading employers in Hong Kong. With the use of our patented Lobahn Connect™ system, we match the aspirations of qualified professionals with the human capital needs of enterprises, removing the randomness of career advancement and talent discovery. Join us today and experience the difference of a smart career platforms for yourself!