Nurturing the Young Talents of Today for Hong Kong's Financial Services Industry of Tomorrow
24 Aug 2023
Hong Kong’s economic success owes much to its comprehensive financial services industry, which has long been recognised as one of the world’s foremost financial hubs. Over the years, the industry has constantly evolved to meet the demands of a changing global market, driven by the emergence of new technologies, evolving customer expectations, and changing geopolitical conditions. Following these changes, the talent market of the financial sector has also undergone significant changes in tandem with the overall landscape.
The ageing population and declining birth rate have led to a shrinking labour force, creating talent shortage in many industries, including the financial services sector. Coupled with the disturbance of the pandemic and the rise of global mobility, these factors have prompted employees to move between countries and take advantage of new opportunities, leading to a higher turnover rate in a more competitive talent environment.
Furthermore, the younger generation’s priorities and career aspirations are evolving, with a greater emphasis being placed on work-life balance and career development. As this new generation begins to enter the workforce and become key contributors of junior-level talent, it is crucial to recognise these changing traits of the talent market landscape.