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Venturenix: The IT Sector in Hong Kong Will Still Be Short of Staff Next Year
The COVID-19 pandemic has driven a “major transformation” in the IT industry, leading to a global “big reshuffle” of IT talents. During an interview with this newspaper, Yuen Yik Ting, the Director of Venturenix, a headhunting company for information technology and digital talents, stated that there is a global wave of resignations in the IT industry. It is expected that there will still be a shortage of staff in the IT industry next year, but he believes that the migration wave in the IT industry will enter a period of stability. Additionally, facing economic recession, the salary increase rate in the industry will cool down slightly.
“Taking the software industry as an example, it is quite common to see a 30% to 40% turnover rate within a year,” said Dicky Yuen. During the period when IT talents are in the shortest supply, if the technical department of an IT company needs 200 employees to operate sufficiently, there will basically be as many as 50 job vacancies; He believes that even after the pandemic, most IT companies will still have 80% to 90% of their operations remaining in the virtual realm. If IT companies insist on hiring employees through face-to-face interviews, they will face great difficulties in recruitment.
Dicky as continued, saying that although the epidemic has eased recently, IT companies that still adopt a complete work-from-home approach account for less than 15%. However, he believes that if IT companies want to retain employees, they must adopt a hybrid working model, i.e., “online + offline”. Furthermore, he pointed out that if they want to attract overseas IT talents to Hong Kong, in addition to Hong Kong’s epidemic prevention measures, the extent of the Hong Kong government’s support for innovation and technology, as well as whether Hong Kong and the Mainland can resume quarantine-free clearance, will also be determining factors.
Dicky Yuen indicates that there is a global wave of resignations in the IT industry, and it is expected that the IT sector will still be short of staff next year. Photo by reporter Kwong Wai Hin.