Hong Kong is one of the most prosperous areas of far east, and it has been awarded the title of one of the four Asian tigers (besides Taiwan, Singapore and South Korea). Owing to its reputation as one of the influential economies, HK has ruled the fascination of the people seeking rich opportunities for career and business. The authorities of this city state have also been quite keen on inviting skilled workers from overseas locations because the home grown population cannot meet all the skills requirement of the local labor pool.
The shortage of skilled labor in actually amplified due to limited inward migration from mainland china. The government of China has decided to sustain the separate identity of this region, and the people trying to gain entry from other parts of the country must seek special permits. These factors contribute greatly to skills deficit and also sustain HK’s reputation as one of the most attractive migration locations.
As per the recent updates, the shortage of Skilled Workers In Hong Kong’s Construction Sector has deepened. The primary reason being cited for this deficit by the experts, is a sizeable outward migration of trained and qualified workers to main land china and Macau.
Currently, China is world’s leading economy and it also has the largest Construction Sector. This industry is attracting numerous qualified people from various parts of the country. To attract and infuse expertise, the companies are offering higher salaries and ranks.
Besides China, neighboring Macau is also witnessing an upsurge in building and constructing. With numerous upcoming high profile projects in building, railway lines, dams and casinos, etc. approaching their deadlines in china mainland and Macau, the companies are desperately seeking sufficiently trained people. The trained personnel working in HKSAR are being lured away by companies constructing projects in China and Macau. The lure of higher salaries for same ranks also often attracts people, and they simply switch over to the new venues in neighboring areas.
Unprecedented outward migration of Skilled Workers In Construction From Hong Kong has resulted in an unprecedented competition among the companies working in HKSAR, as they are under pressure of retaining their stock of trained workforce. To see this through, the companies have resorted to offering higher salaries to the personnel. As a result, a substantial rise in salaries, i.e. in tune of 15% to 20% is being noticed.
As per the recently conducted surveys there is a structural deficit of labor in the building industry and at present, as many as 10000 personnel in various trades are needed urgently. The deficit crisis is furthered deepened due to ageing workforce and reluctance of younger generation taking up jobs in this industry.