https://www.michaelpage.com.hk/ en https://www.michaelpage.com.hk/advice/career-advice/career-progression/best-paying-contract-jobs-in-hong-kong Over the past 3 years, there has been a noticeable surge of contract based jobs following the global pandemic. This increase can be attributed to several factors: Enhanced Flexibility: Contracting work offers greater flexibility for both job hunters and employers. This allows individuals to pursue diverse projects and roles, while granting businesses the ability to upscale or descale their workforce as required; Market Uncertainty: The post-pandemic economic uncertainty has led companies to favour temporary hires as a means of mitigating risk and maintaining financial stability; Cost Savings: Employing contract roles can result in significant cost reductions, as businesses do not need to provide the same comprehensive benefit package as they would for full-time employees; Streamlined Hiring: The recruitment processes for contract jobs tend to be shorter and more efficient. It allows a quicker workforce adjustment in response to changing needs; Opportunities for Career Transition: Contracting roles provide individuals with the chance to explore new fields or industries, broadening their professional experience and enhancing their skills. The high paying contract jobs in Hong Kong for 2023 will be discussed in this article. We will also look at the outlook for the contract jobs market, which can help you decide if becoming a contractor is right for you. Contract Job Offers Contractors are not the only ones that like contract jobs. Hong Kong employers may prefer to use them too. Some companies will use contract management to quickly scale up or down without having additional fixed overhead costs. Thus, whether you're considering a contracting career or are interested in the highest-paying and most sought-after contract positions in Hong Kong, keep reading.  What is the outlook for contracting work? The contracting job market has been growing steadily in recent years, and this trend is expected to continue in the coming years. The COVID-19 pandemic has accelerated the shift towards contract work as companies look for more flexible and cost-effective ways to fill their talent needs. In particular, the IT, financial services, and banking sectors have seen a significant increase in demand for contract workers. This is partly due to the need for specialized skills and expertise, often found in contract workers who can provide focused solutions for specific projects. Additionally, with the rise of remote work and the need for digital transformation, the demand for IT contractors has continued to increase. The outlook for contracting jobs remains positive, even for administrative and clerical support roles. Contractors might anticipate finding a variety of employment across numerous sectors if they have the necessary qualifications and expertise. To further position themselves for success in the always-changing employment market, they can start or continue keeping up with the most recent trends and advancements in their industry. What are the best-paying contracting jobs in 2023? In 2023, the best-paying contracting jobs are expected to be in the IT and financial services sectors. These roles require specialized skills and experience, making them high in demand and commanding higher rates. Some contractors in project roles may even enjoy 1 to 3 months gratitude bonus after project completion. Now let's take a look at these top roles: IT Professionals IT Scrum Masters IT Scrum Masters play a critical role in the success of IT projects, and their demand is only expected to increase in the coming years. They are responsible for facilitating the agile development process and ensuring that projects are delivered on time and within budget. IT Scrum Masters are also among the highest-paid contracting roles in the IT industry, earning between HK$70,000 to HK$100,000 monthly. Scrum Master Contracting Jobs IT Project or Programme Manager IT Project or Programme Managers are another in-demand contracting role in the IT industry. They are responsible for overseeing the planning, execution, and delivery of IT projects or programs. These roles are highly renumerated and can earn a premium due to their high responsibility level and critical role in ensuring project success. Their salaries range from HK$ 60,000 to HK$170,000 monthly. IT Project Manager Contracting Jobs IT Architects IT Architects design and implement complex IT systems, ensuring alignment with business needs and security compliance. They play a critical role in the success of IT projects and programs, and their demand is only expected to increase in the coming years. With expertise in high demand, they can earn a premium as highly-paid contractors. IT Architects can earn between HK$60,000 to HK$100,000 monthly. IT Development Managers IT Development Managers are highly sought-after in the IT industry due to their proficiency and knowledge. They lead projects through successful completion, providing direction for teams of software developers while ensuring that business objectives are achieved within budget and on time. Generous salaries accompany this challenging role, ranging from HK$60,000 to HK$100,000 monthly. Commercial, support, and admin roles Risk Business Manager With a unique skill set, including risk assessment, data analysis, and excellent communication and interpersonal skills, Risk Business Managers are very well paid as contractors. People in this role are critical in mitigating risks and protecting an organization's reputation and financial stability. Human Resources Manager Human Resources (HR) Managers are responsible for overseeing the HR functions of an organization, including recruitment, employee relations, performance management, and benefits administration. HR is vital for any organization's success, and their contract rates are competitive starting from HK$60,000 to HK$85,000 monthly. Executive Assistant Executive Assistants play a crucial role in supporting high-level executives, like CEOs and CFOs, and ensuring that they are able to operate efficiently and effectively. Given the pressure and sensitivity of the role, Executive Assistants are in high demand and can be well-paid contractors. These roles can expect salaries from HK$40,000 to HK$60,000 monthly. Finance System or Financial Services Project Manager Finance System Project Managers are vital for facilitating finance-based projects within an organization, working with IT and different teams to coordinate all facets of a project’s finances. Finance System Project Managers are expected to perform complicated tasks such as SAP project management, migrating data, and dealing with regular changes to rollout, project life cycles, and implementation. Because of the technical nature of the role, they can expect high-earning salaries starting from HK$60,000 to HK$80,000 monthly. A Financial Services Project Manager focuses more on risk and compliance in order to drive changes. These roles also require sought-after expertise, resulting in competitive salaries from HK$60,000 up to HK$150,000 per month.  Finance Director  Finance Directors are extremely important to drive the financial planning of an organization. They are essential for maintaining projects and BAU to deal with peak season volume. These roles tend to be non-renewable or transition roles, with companies offering a premium on top of the monthly salary, usually resulting in a higher salary with slightly fewer benefits. These salaries range from HK$70,000 to HK$120,000 monthly. Some other popular contracting jobs in Hong Kong includes Developer, Infrastructure Engineer, Compliance Associates and etc.  Final thoughts 2023 presents excellent opportunities for those seeking high-paying contracting jobs in Hong Kong. The pandemic has accelerated the trend towards remote work and project-based roles, increasing demand for skilled contractors in various industries. We have listed here the best-paying and highest-demand contracting jobs in Hong Kong. Each role offers competitive salaries and career growth prospects. Remember, though, to succeed in these roles, candidates should have the required skills and experience, as well as the ability to work independently, make decisions, and communicate effectively. Also, the job description for a contract worker will vary depending on the industry and type of role. Benefits may vary as well. With the right mindset, you can land your dream contracting job and enjoy a fulfilling career in Hong Kong. So why wait? Take the first step towards your dream job today and explore the exciting contracting opportunities available in Hong Kong! Tue, 02 May 2023 14:38:33 +0800 Michael Page 928441 https://www.michaelpage.com.hk/advice/career-advice/career-progression/contracting-vs-permanent-job-which-better-you Deeply seated in our Asian culture is the perception that we need to strive towards full-time employment to be seen as responsible, full-functioning adults. Any other form of employment such as part-time, freelance or contract work seems to be perceived as unstable and somewhat less valuable.  The rise of the contract professional This perception is gradually changing as companies worldwide are moving towards an integrated workforce model, where they are increasingly hiring more contractors and part-timers over the past few years. In 2018, Stephane Kasriel, CEO of Upwork and co-chair of the World Economic Forum’s Council on the Future of Gender, Education and Work, said in a press release, “As skills become more specialised, companies either need to invest in reskilling to prepare workers for the jobs of tomorrow or leverage freelance professionals who are nearly twice as likely as traditional employees to proactively take reskilling upon themselves.” Traditionally, contract employment is mainly found in the IT industry. Now, more and more sectors are moving towards an integrated workforce, employing more contractors. Deloitte’s 2019 Global Human Capital Trends study found that 33% of respondents reported extensively using alternative arrangements for IT, 25% for operations, 15% for marketing, and 15% for research and development. While more companies are hiring more contractors, it is crucial to understand the pros and cons before quitting your full-time job and dive into contract employment. Besides the obvious benefit – having more time on your hands (to go on holiday, upskill, or look after ageing parents or children) – you get to choose the projects that interest you. Ahead, we discuss the benefits of contract employment compared to having a full-time job. Related: 6 common job interview questions for contracting jobs Advantages of being a contractor 1. Build your portfolioMost companies are open to engaging contract professionals who do not have a vast amount of work experience for short-term assignments. And naturally, this situation is dependent on the type of project. Companies that hire contractors for longer-termed work, usually over six months to a year, would most likely require you to have more expertise in the specific sector. Whatever the case, you get the opportunity to buff up your portfolio as you collect different work experiences at the various companies. 2. Widen your professional networkWith the opportunity to work at different companies over a shorter period, you will meet different people – more people – expanding your network. The more extensive the network, the more contract opportunities. The brilliant thing is, these professional contacts are at your workplace – if you perform well at your tasks, it wouldn’t be long before they hear about it from your manager. And that will keep you at the top of their minds when they need contract staff in the future. Do keep in mind that you should be proactive and not sit quietly at your desk and expect people to notice you. Make small talk at the pantry, the lift; nothing too aggressive as that can be a turn-off for some. 3. Learn from a diverse range of organisationsThe (other) beauty of being a contractor means you get to experience working for a diverse range of companies. This is a valuable and beneficial opportunity for you to observe the inner workings of various businesses, and that would add value to your experience when you move on to the next project. For instance, how family-based companies compare to small and medium-sized enterprises and multinational corporations. Also, by working on different projects, you would pick up new skills that will further improve your portfolio. 4. Builds resilience and adaptabilityMoving from one company to the next also means adapting to the various work culture and processes to perform your duties. And that adds value to your professional portfolio, as employers would not be concerned about how well you can adapt. It’s another strength to highlight if you decide to switch to full-time work. 5. Trial a new job before you settleIn a way, when you work at various companies, you get to try out the role before you decide if you want to switch to a similar role in a permanent capacity. Companies are almost always on a lookout for talent. If you happen to join as a contractor during a period where they are sourcing for full-time staff, you could get an interview opportunity. If not, they might keep you in mind if you perform well. However, do not bet on that. Related: How to make a career change Disadvantages of being a contractor While working as a contract professional may sound like a jolly ride, it comes with its drawbacks and is no walk in the park. For one, when you work on a contractual basis, you do not have the regular standing of a permanent employee. Companies can terminate contractors without documentation or recourse options, as there may not be human resource policies to follow. Also, potential employers may see contractors as being uncommitted. And it can get disorienting for contract professionals when you have to keep readjusting to new working environments after each contract term ends. Advantages of having a permanent job Most people are in a permanent position because you want a stable income, allowing you to plan for the various stages of your life – be it purchasing a new apartment, getting a pet, planning a wedding, having a kid, investing or saving up for your kid’s university fund, or retirement fund. Here are other advantages of having a full-time job: 1. Time Off: You would receive annual leave and sick leave as part of your employment package. You would be able to go on a short holiday break, get paid and not feel guilty as compared to your contracting counterparts. 2. Money Matters: As mentioned, unlike contractors, a full-timer’s salary is fixed (not including bonus payments), so you can feel secure that you would have money coming in at the end of the month. Most contractors face the issue of late payments from their clients. Naturally, full-time staff can face the risk of retrenchment, but that does not usually happen unless the company is doing poorly or facing epic losses due to economy shattering events like the COVID-19 pandemic. 3. Working Hours: Permanent staff have specified work hours, so clients and colleagues, on ordinary circumstances, will not be calling you after office hours and on weekends. While contractors can set certain work hours for themselves, they usually have to remain contactable to not miss out on any opportunities. 4. Career Advancement: Another positive factor of being a full-time staff is that the company will view you as a long-term talent investment. And because of that, they would be more inclined to invest in your development and help you advance the career ladder. 5. Credit Card Application: This shouldn’t be a deal-breaker, but it is good to know that it is easier to apply for a credit card when the bank knows you have a full-time job. In other words, the ability to pay your bills. You can still apply for credit cards if you are self-employed. However, the process is more complicated. You would need to submit various documents to demonstrate your ability to pay back the credit owed. Related: 3 impactful resume templates for your job search Disadvantages of being a full-time staff Compared to a contracting role, being in a permanent position doesn't give you the leeway of trying various jobs or taking on different projects. And if you don’t proactively look for a new role, you can get too comfortable in your current position. You then become stagnant in your skills and knowledge of the trends in your industry. This state of job stagnation may not sound so bad since a permanent job comes with many benefits. However, it can be damaging if you find yourself retrenched due to company losses or restructuring, or fired from your job. What you can do is to make time to upskill. Contracting vs permanent job: What is better for you? There isn’t a definitive answer to this question. It is about weighing the pros and cons, as it comes down to which employment type will suit your stage in life, industry and if it offers career growth. For instance, if you take care of elderly folks and require flexibility in terms of work hours, then contracting may be perfect for you. Or, if you were offered an attractive one-year contract role at a top firm in your industry, you could consider leaving your full-time job for it as it would add tremendous value to your portfolio. Seeing that it is a year-long contract, it gives you sufficient time to find another job. If you are looking to take a break from work to figure your career path, going for short-term contract jobs that run for one to three months is a valuable way to tie over periods without full-time work. However, as stated previously, anything can happen during a contracting period. It would be best if you made sure the employment terms are favourable and that you have enough savings to sustain you (and your family) in the event of early termination. Also, specific industries like the technology sector are more open to contractors, so you would more likely have more contracting opportunities than other sectors. Are you looking for contracting roles? Here are the latest job opportunities for contract professionals. If you would like to speak with a recruiter, contact us here. Read more:The highest paying jobs in Hong KongPutting the “work” into working from home: how to be productiveWhat to do after being laid off: A guide to navigating this challenging time Tue, 08 Mar 2022 20:22:13 +0800 Simone Wu 240381 https://www.michaelpage.com.hk/advice/market-insights/market-updates/hong-kong%E2%80%99s-legal-market 2019 thus far has been dominated by geopolitical events, speculations and a constant news cycle regarding trade policies and market trends. Most recently, the ongoing Hong Kong political situation has come to play an important role and we can’t yet fully predict what the effects will be. What we definitely noted is that the perception from abroad is much worse than the actual situation in Hong Kong: while Hong Kong as well as mainland Chinese clients are confident in a speedy recovery of the local market we’ve noticed that the situation, as represented by the international media, as created concerns for our overseas clients. Despite all of the above, we’ve objectively identified the most relevant trends in the Hong Kong Private Practice recruitment landscape. These should give guidance and reassurance to many of us within the legal field who are wondering what the rest of 2019 will look like. Hong Kong as a candidate-driven market Hong Kong remains a candidate-driven market. Law firms are still aggressively competing to secure the best talents in the market in both fee-earning and business support roles.  And this is evident in the M&A and IPO space, where despite the significant market downturn compared to last year, the battle for the best talents remains. In the current market, clients are simply more cautious and use a selective approach. We are seeing that hiring processes are perhaps a bit slower, but those headcounts are very much still there and quality capital markets and corporate lawyers with strong language skills are still in demand. Technology and cybersecurity driving major trends in hiring After a slow start this year, we have seen a steady flow of new openings and headcounts since April 2019. Something certainly new for Hong Kong is the significant wave of new openings in the cybersecurity and data privacy space. This trend is being driven by the ever-evolving privacy and cybersecurity regulations and issues not only in Hong Kong but across APAC and globally. It has caused a few firms to explore the possibility of setting up specialised teams in Hong Kong, as well as growing and scaling existing teams. The lack of homegown talent and the fact that these roles often do not require Chinese language skills often brings these searches overseas.  Cybersecurity is a concern for law firms themselves, given the amount of sensitive data they handle. This is driving a major trend in hiring in the IT space, especially when adopting cloud-based practice management software.  This has also been the need behind newly created IT headcounts who can provide internal consultation in strengthening the cybersecurity of international law firms – both in setting up the system and leading the execution. Most hires so far have been at mid-senior level, especially for consultancy roles. However, with a shortage of talent, candidates aren’t necessarily coming from other law firms. Instead, companies have to expand the search to include professionals from other industries.   Agility and flexibility the key to retention The implementation of cloud systems has had another significant consequence on the recruitment market: it allows for a significant amount of legal work to be carried out in agile and flexible working environments. This is a key topic in the industry, particularly after the launch in June 2019 of a report from the Women in Law Hong Kong (WILHK) titled “Making the case for flexible and agile working in Hong Kong’s legal industry”. The report highlights who the virtuous players in this industry are and what is holding Hong Kong back from alternative working models.  In our opinion, law firms need to be up-to-speed with these trends in flexible and agile working conditions in order to retain top talents and compete with alternative legal services providers. Top professionals in the field are looking for better work-life integration and companies must adapt to client needs. We will keep a close watch on how technology and cybersecurity continue to impact the Hong Kong legal market this year, along with keeping an eye out for new trends that will affect hiring, employee engagement and the overall job market throughout the rest of the year. If you would like to discuss the above in more detail, please contact Associate Director, Marta Verderosa, at martaverderosa@michaelpage.com.hk Thu, 29 Aug 2019 13:41:25 +0800 Marta Verderosa 4846 https://www.michaelpage.com.hk/advice/management-advice/leadership/sick-leave-and-your-bottom-line-how-manage-workplace-absences Employee absence is often one of the biggest non-recoverable costs to businesses.  It can lead to delays in task delivery and project completion, failures in communication and a loss of trust between employer and employee if frequent or long-term absences aren't adequately explained. These issues are compounded by increasingly lean workforces that may find it difficult to absorb the workload of absent colleagues, or who may grow resentful if they are made to do so frequently or for long periods at a time. For these reasons, managing absence should be an important priority for employers, but is one that needs to be handled carefully, taking into account the circumstances of the absence and the employee's personal history. Provide clarity upfront Every organisation should have a clear policy for how different kinds of leave are managed and the responsibilities an employee has in terms of providing notice and documentation around absences.  Are workers expected to call if they plan to be absent or will an email or text suffice?  What is the threshold for when a doctor's certificate is required?  Ensure that your policy covers all these kinds of questions and make sure it is covered in all induction materials and made available to employees via the company intranet.  We all accept that some sickness absence is inevitable and most absences are genuine, but simply having to call in at a set time and speak to their manager can discourage the employee who “doesn’t like Mondays”. RELATED: Be a better boss: Nine ways to inspire your team Short-term absences This will be the most frequent kind of absence employers have to manage, and is also the kind most likely to be abused by workers wanting to take a 'sickie' or sick day.  This is where your clear-cut policies will come into play, and as long as workers meet the criteria you've laid out for them, it’s easiest to simply accept the absence and move on with your day. However, monitoring short-term absence, targeting those whose absence shows a pattern and ensuring that the correct recording and reporting procedures are followed can help reduce the risk of abuse and ensure that any underlying issues are exposed without too much damage to your bottom line. For many managers, having a conversation with an employee about their absence can be uncomfortable and challenging Long-term absences Long- term absence cases can be more difficult, with many involving employees who have long- term health conditions, many of whom are long serving and highly valued. When they do need to take time off due to illness, a holistic approach to managing their absence, including their manager, HR, occupational health and external agencies, can ensure that they return to work as quickly as possible and with any adjustments they need already in place. However, there will be cases where a return to work isn’t possible and these cases need to be managed to a conclusion as quickly and sensitively as possible. This means ensuring that the business follows both internal and legislative processes, whilst at the same time making sure that the employee continues to feel supported and valued. For many managers having a conversation with an employee about their absence can be uncomfortable and challenging. They often don’t have the necessary skills to manage absence, so upskilling them is key to bringing absence rates down, with the resulting cost benefits to the business. How many managers, when conducting a return to work interview, have taken the employee to one side and said “let’s just say we’ve done this interview and I’ll tick the box”? This creates a barrier to managing absence and can impact on the attendance culture within the organisation. Line managers tend to know their employees better than anyone and so are key players in managing their attendance. RELATED: How to keep your employees happy when announcing promotions Addressing absence trends  Once the absence trends have been identified measures can be put in place to address them. There’s no point having a market leading approach to managing stress and anxiety if 90% of sickness absence cases are related to musculoskeletal disorders! Understanding the reasons for absence allows you to develop a proactive approach, based on preventing absence in the first place. This leaves you able to concentrate resources on the unavoidable absence cases. Early intervention and ongoing management of absence cases is the key to achieving a rapid and sustained improvement. For example, an early referral for counselling to an employee assistance programme can minimise the absence of an employee who is absent for mental health reasons. Similarly, an in house physio service can mean a return to work quicker. This individualised approach, together with regular reviews of exiting absence cases, brings absence rates down, with the resulting impact on costs.  Tue, 31 May 2016 10:37:24 +0800 Greg Tadman 3946