The Hong Kong General Chamber of Commerce recently conducted a survey on the immigration wave, which shows that the recent immigration wave has led to a loss of skilled talent, affecting both large and small to medium-sized enterprises.

The survey was conducted from January 10 to 21 this year, with a total of 220 companies interviewed. Among the surveyed companies, 38% reported being negatively affected by the recent immigration wave, with the proportion of large enterprises affected being higher than the overall average at 45%; 29% of small and medium-sized enterprises also reported being affected.

The middle management is the majority, raising concerns about a talent gap.

Regarding the background of immigrant employees, the surveyed companies revealed that the majority of immigrant employees are aged "30 to 39" (67%), followed by "40 to 49" (52%).
In terms of job levels, 56% and 51% of respondents stated that immigrant employees are mainly from middle and junior management levels. Additionally, immigrant employees come from various professions, including engineering and technology, finance and accounting, as well as information technology.

The survey results also indicate that seeking career development is not the main consideration for employees immigrating; the primary reason is to provide better opportunities for their children, accounting for 57%.

Large companies are intensifying training and increasing salary and benefits.

Large enterprises are actively addressing the issue of talent outflow, with 61% and 51% of surveyed large enterprises planning to "strengthen succession planning and recruitment" and "enhance automation and digitalization levels"; the corresponding rates for small and medium-sized enterprises are only 28% and 35%.

Large companies are also preparing to increase budgets, with 39% and 37% of surveyed companies considering "raising salaries and benefits" and "developing employee retention plans," while the corresponding rates for small and medium-sized enterprises are 13% and 11%.

Wang Dongsheng believes that Hong Kong's success relies on the contributions of skilled talent, so the issue of talent outflow cannot be ignored, especially as Hong Kong is also facing an aging population.

He described that Hong Kong is facing the largest outflow of highly educated talent since the early 1990s, which will have significant ripple effects on the economy, as human resources are crucial for Hong Kong's service-oriented knowledge economy. If the outflow of talent cannot be curbed, the situation will be concerning.

Regarding the predominance of middle-level employees among immigrant workers, he emphasized that middle-level employees are the backbone of enterprises. Once there is a gap, it poses challenges to business operations. In addition to the expenses incurred in recruiting and training new employees, companies also have to bear other hidden costs such as time costs and obstacles to business growth.

Wang Dongsheng also mentioned that the competition for talent globally is very fierce, and Hong Kong must find ways to attract and retain talent. The Hong Kong government should curb the immigration wave and regularly review relevant policies to maintain Hong Kong's attractiveness as a place for living and working, as well as a hub for education.