Hiring outlook also much lower than global average: report
The hiring outlook in Hong Kong dims heading into 2025 with 63% of employers expecting either a reduction in staffing or no change at all, according to the latest ManpowerGroup survey.
The ManpowerGroup Employment Outlook Survey (MEOS) found that only 34% of employers in Hong Kong are anticipating an increase in hiring for the first quarter of 2025.
On the other hand, 28% are anticipating a decrease and 35% are reporting no change at all for the coming quarter.
As a result, Hong Kong's Net Employment Outlook (NEO) weakened to six per cent, down by two per cent since the previous quarter, and much lower than the global average NEO of 25%.
By industry sectors, Hong Kong's Industrial and Materials sector emerged with the strongest hiring outlook with 33%, followed by Information Technology (18%).
Industries that reported negative NEOs include the Consumer Goods and Services (-14%) and the Transport, Logistics, and Automotive (19%) sectors.
Meanwhile, the report also found that 24% of employers in Hong Kong said they have fully achieved gender equality in the workplace.
Nearly half (47%) also said they are getting close to full equality, while 23% reported that they are "still reasonably far from full equality."
More than half of the respondents (57%) also said they are advancing pay equities in the workplace, with the percentage rising for industrial and materials industry employers (66%).
The top measure that employers said is driving progress in gender equality in recruitment and retention is building trusting relationships with teams (37%), according to the report.
A third of employers also said effectively supporting employee wellbeing (33%), as well as mentoring and training employees (33%), also help gender equality.
"Companies can conduct regular training sessions to educate employees on the importance of diversity, inclusion, and gender equality, addressing unconscious biases and creating a more inclusive work environment," the report read.
The financial hub's progress on gender equality comes after the Hong Kong Stock Exchange banned single-gender boards, with companies given until the end of 2024 to adjust.
