Hong Kong bosses pressured to expand talent pool amidst graying population

1 in 3 are predicted to be senior citizens by 2041.

Randstad Hong Kong has noted that it welcomes the labour policies laid out in the recently concluded Policy Address 2015.

According to a release from Randstad, Mr Peter Yu, Director of Randstad Hong Kong, believes these policies will help Hong Kong build a productive and sustainable workforce.

On advancements for the youth, for instance, Yu said, “We are pleased to see that over 170 organisations have participated in the Business-School Partnership Programme and encourage further advancement opportunities for the youth in terms of job placement and life planning.

“We encourage robust two-way communication between employers and employees – particularly those from Generations Y and Z – to create a cohesive workplace for collaboration and learning.

“Our latest Workmonitor research showed that Hong Kong tracks behind regional counterparts in terms of learning from Generation Z, with less than half (47 per cent) of current employees think they can learn a lot from Generation Z in the use of technology.

This tracks far behind regional counterparts including India (86 per cent), China (75 per cent), Malaysia (74 per cent), Singapore (68 per cent), New Zealand (63 per cent) and Australia (62 per cent),” Mr Yu said.

Here's more from Randstad:

On extending retirement age: “With one in three people in Hong Kong expected to be 65 years old or above by 2041, Hong Kong employers are facing increasing pressure to expand their talent pool.

While the Government’s decision to extend the service of civil servants is a good start, the Government is encouraged to provide incentives such as business-friendly policies for employers to extend the retirement age and rehire older workers.

“Having older workers in the workplace will also allow them to coach younger colleagues and pass on knowledge and leadership skills, while employees from the younger generations will share fresh perspectives and skill sets, cross-pollinate ideas with older workers, and create an innovative, knowledge-rich workforce,” Mr Yu said.

On engaging return-to-work mothers: “Against the background of a tightening labour market, it is a positive sign that the Government is enhancing child care services to provide better support for women who wish to return to the workplace.

“With longer service hours and up to 6,200 child care centres in the near future, mothers in Hong Kong will be able to better manage their work and family lives. As a result, these return-to-work mothers will widen Hong Kong’s talent pool and enrich the diversity of Hong Kong’s labour force,” Mr Yu said.