Hong Kong vs. Singapore: The Fresh Talent Landscape in Banking and Life Sciences
Hong Kong Outpaces Singapore in Fresh Talent
SCMP news recently reported that Hong Kong boasts a larger fresh talent pool than Singapore, particularly in critical sectors such as banking and life sciences. According to a global survey by Hays, the city consistently ranked higher than Singapore in terms of the proportion of professionals with less than three years of experience.
Key Findings from the Survey
The survey examined over 30 economies, revealing that Hong Kong has a strong talent supply pipeline. In the life sciences sector, professionals with up to three years of experience comprised 38% of the workforce, compared to 33% in Singapore. Although Singapore led in experienced talent with at least eight years, Hong Kong’s positioning supports its long-term business growth.
Implications for Businesses
- Potential talent deficits in finance and insurance sectors.
- Emerging early-career initiatives fueling the talent pipeline.
- Challenges related to high living costs affecting talent acquisition.
Hong Kong is positioned as a prime location for businesses targeting growth, but the landscape also requires strategic investments in skill development to harness this potential.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.