Nearly two-fifths of Hong Kong companies feeling pain of recent emigration wave, business chamber survey finds
- Survey by Hong Kong General Chamber of Commerce finds about 38 per cent of respondents have reported a ‘medium’ to ‘very high’ effect from talent departure
- Most companies remain optimistic, say turnover rates likely to stabilise later in the year
Hong Kong companies have been wrestling with a brain drain amid a recent wave of emigration, with nearly two-fifths of firms polled by the city’s largest business chamber saying they have experienced an adverse effect on their operations.
According to a survey released by the Hong Kong General Chamber of Commerce (HKGCC) on Friday, 38 per cent of respondents, comprising representatives from large corporations and small and medium-sized enterprises, ranked the latest departures as having had a “medium” to “very high” impact.
About 24 per cent of interviewees ranked the effect on their business operations as “medium”, 12 per cent reported the impact as “high” and 2 per cent answered “very high”.
But most of those surveyed remained optimistic, with 58 per cent saying they expected emigration-induced turnover rates to stabilise later in the year, compared with 35 per cent who anticipated skill shortages.
The survey by the city’s largest business chamber interviewed 220 company representatives from its 4,000 members from January 10 to 21.
HKGCC chairman Peter Wong Tung-shun said the loss of human capital was concerning as the city was already experiencing the effects of an ageing population.