Mind the gap: Hong Kong employers say youth don’t have right skills, employees say jobs don’t support growth
McKinsey study also finds that city lags behind Singapore and South Korea when it comes to training youth for job market
Hong Kong’s education system is not meeting the requirements of employers in the city, according to a study by McKinsey and Company. There is also a huge gap in expectations between companies and young employees.
The global management consultancy also launched Generation Hong Kong, a non-profit programme that will train young students and graduates for entry level jobs, on Wednesday.
Most young employees want … jobs where they can develop their careers
The study cited research from Manpower Group, which showed that 69 per cent of Hong Kong employers said they could not hire the right talent. It also used a survey by LinkedIn that showed 60 per cent of Hong Kong youth said they could not find jobs they liked.
“Most young employees want more flexible working hours, and they want jobs where they can develop their careers,” Joe Ngai, McKinsey's managing partner for Greater China, told the South China Morning Post in an interview. “Many youngsters have found that jobs [they have found] did not fulfil their dreams, so they leave very quickly,” he said.
Jerry Chang, managing director at international headhunter Barons & Company, said the mismatch was particularly serious among millennials. “Many millennials take their work-life balance very seriously. They do not want to work overtime, or seven days a week. Employers who want to compete for talent will need to offer more flexible working hours to attract these employees,” he said.
Employees, however, also need to take a long-term view. “Many jobs such as junior auditors require long hours of work. And they will have a better work-life balance when they become more senior,” said Chang.
