ATMA Country Updates are designed to give a snapshot of housing, education, immigration and cost of living of today.  Our Hong Kong update sets a mid-year benchmark for post-opening statuses while our knowledgeable speakers delve into a bit of what may yet come.

Top Takeaways

• Hong Kong has lost over 110,000 workers over the past few years.  The government has set up the Top Talent Pass (TTPS) Scheme to create an immigration fast lane for desirable talent to come to the country.
• The long-term housing market seems to have stabilized in general, however the increase in business travel, tourism and a return of expatriates is placing pressure on the short-term housing market.
• 40 – 50% of international schools in Hong Kong now require debentures or have increase enrollment fees.
• Hong Kong remains Asia’s most expensive city. 

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Don't forget to register for ATMA's upcoming webinars:

Post-COVID Fundamentals for APAC & China Talent Mobility

Country Update | Singapore

Are you ready to unlock the potential of talent mobility in China and the broader APAC region? Join us for an insightful webinar where industry experts from the talent mobility team of Cargill will illuminate the critical macroeconomic and mobility fundamentals that shape the landscape. Gain valuable knowledge about talent mobility trends, challenges, and innovative approaches corporations take in this dynamic region. Discover how you can optimize talent management strategies and harness the power of mobility to drive your organization's success.

Key Macro-economic and Mobility Fundamentals:

Gain a comprehensive overview of the economic factors influencing talent mobility and how they shape business opportunities and challenges. Discover how the greater Asian economic trends impact talent mobility strategies.

Talent Mobility Issues and Trends:

Explore the latest trends in talent mobility, including remote work, digitalization, and the growing demand for diverse skill sets. Gain insights into how organizations adapt talent management strategies to stay competitive in an ever-evolving market.

Corporate Perspectives and Approaches:

Discover successful approaches organizations have taken to attract, retain, and develop talent across borders. Gain a deeper understanding of how companies navigate immigration policies, talent acquisition, and workforce planning to achieve business objectives. Learn about best practices in talent development, including cross-cultural training and fostering employee engagement in diverse teams.

Take advantage of complimentary access to the next ATMA webinar.

29 June at 14:00 HKT

Register to attend live or to receive a recording:  https://www.asiatma.com/event-5297970

The recent China Update webinar packed a substantial amount of information into just 30 minutes.

Also below - Watch Full Recording and Register for June 16 Hong Kong Event

Here are a few key takeaways: 

• Despite the opening border, there is still hesitance for foreigners to accept long-term assignments in China and reluctance by Chinese employees to accept assignments abroad.  Currently, talent is finding short-term assignments more agreeable.
• Top concerns causing hesitancy to accept long-term assignments include dual career families, impact on career after the 2-3 year assignment, and other family concerns.
• Current tax exemptions for assignments into China have been extended through the end of 2023, but uncertainty exists about their availability or similar benefit availability after that timeframe is adding to the trend towards shorter-term assignments
• Assignees are still lining up to enter China.  During Q1, residence permits issued increased by 40%, totaling about 186,000 foreign national residential permit applications. 
• The surge in resident permit applications is causing backups in the process.  Some locations, such as Singapore, Malaysia, and Singapore, have extended timeframes to book appointments for visa applications.
•  Chinese nationals returning during the pandemic years have filled in any gaps in housing and education left by departing foreign expatriates, and the housing market never dipped in China.  Expat rentals are no longer unique, and expats are losing out on apartments to locals.
• While rental housing costs remain high in many, especially Tier 1 cities, compared to other locations, the prices are currently less expensive.

Register for the June 16th Country Update on Hong Kong

Tiffany Qiao

Global Mobility Consultant

Cargill

On June 7, Tiffany will join panelist Eva Lu also of Cargill and moderator Meng Ziang Chy of Graebel to discuss China talent mobility challenges, changes and trends.

Tiffany is based in Shanghai and has more than 10 years of experience in multiple areas of Human Resources and Global Mobility. In the current role as Global Mobility Consultant, Tiffany partners with internal stakeholders on all international moves into Asia Pacific region and globally for certain businesses, also leads multiple global projects and looks after the process & service delivery of Cargill Global Mobility team cross regions.

We appreciate Tiffany for sharing her knowledge with the ATMA community!

June 7 14:00 HKT | Country Update Webinar / China

Click here to register to attend live or receive a recording.

ASIA TALENT MOBILITY ALLIANCE (ATMA) WELCOMES RNA GROUP K.K. WHO JOINS AS FOUNDATION PARTNER

Foundation Partners play a fundamental role in the development of Talent Mobility in Asia and the formation of ATMA's supportive programs and services for the industry across the region.

Hong Kong, DATE -May 29, 2023  Asia Talent Mobility Alliance (ATMA), a not-for-profit organization dedicated to enhancing the innovation and development of the talent mobility industry of Asia welcomes the support of the RNA Group K.K. , a provider of destination, visa and immigration services as a Foundation Partner. 

Foundation Partners provide substantial financial, talent and knowledge resources to help fulfil the vision and mission of ATMA. The program stands apart from a typical sponsorship and involves a deep partnership and leadership position for developing the organization. Invitations were extended to those companies with a demonstrated dedication to the professionalism and advancement of the talent mobility industry in Asia. 

"As cooperation and trade grow through agreements like RCEP and ASEAN and as Asian headquartered corporations expand regionally and globally, we believe an association built in Asia for the Asian talent mobility community and wholly focused on advancing that community is necessary," stated Sean Collins, ATMA Launch Committee member. "ATMA is a not-for-profit and relies on the support and active participation of members and sponsors. As a Foundation Partner, RNA Group extends its deep investment and involvement in ASIA and highlights a strong commitment to the Talent Mobility community here."

“Our mission is to help people and their organizations with Mobility Services that support the globalization of Asia,” states Bryce Conlan, Director of RNA Group K.K (Japan), “This aligns perfectly with AMTA’s plan to build a talent mobility industry devoted to Asia and Asian-based companies.”   “We are excited to join forces and together”, says Steve Burson, Director of RNA Group and CEO of Relo Network Asia (Singapore). “This will make faster progress on this essential component of properly representing our industry in Asia, but that until now, has been missing.”

This 30-minute session is a condensed overview of the current status of housing, immigration, policy trends and more impacting mobile talent and the teams supporting them. 

For our premier session, our focus is on China.

Registration is open and free to the public.  Click to register to attend live, or to receive a recording.

The Asia Talent Mobility Alliance is a growing community of professionals from all areas of the industry.  

The strength and success of an alliance that includes a wide variety of companies across a region the size of Asia relies on membership with diverse backgrounds, unique perspectives, and different locations.  

Our Launch Committee members mirror that ideal and, while standing firmly behind ATMA’s mission, vision and pillars, find personal meaning in each.  We asked them to share their individual views and to permit us to publish their profiles in this series.

Singapore and Hong Kong are two of the most competitive cities in the world for talent. Both cities offer a high standard of living, a strong economy, and a diverse range of job opportunities. However, the competition for talent is fierce, and both cities are constantly striving to attract and retain the best and brightest.

In this post, we will take a look at the competition for talent in Singapore and Hong Kong. We will discuss the factors that make these cities attractive to job seekers, as well as the challenges that they face in attracting and retaining top talent.

Factors that make Singapore and Hong Kong attractive to job seekers

There are many factors that make Singapore and Hong Kong attractive to job seekers. These include:

• High standard of living: Both Singapore and Hong Kong offer a high standard of living. The cost of living is high, but so are salaries. This means that people who live in these cities can afford to live comfortably.
• Strong economy: The economies of Singapore and Hong Kong are both strong. These cities are major financial centers, and there are many job opportunities in the finance sector.
• Diverse range of job opportunities: In addition to finance, there are many other job opportunities in Singapore and Hong Kong. These cities are home to a wide range of industries, including technology, manufacturing, and tourism.
• English language: English is widely spoken in Singapore and Hong Kong. This makes it easy for job seekers from other countries to find work in these cities.
• Multicultural environment: Singapore and Hong Kong are both multicultural cities. This means that people from all over the world live and work in these cities. This can be a great experience for people who want to learn about different cultures.

Challenges in attracting and retaining top talent

Despite the many advantages that Singapore and Hong Kong offer, they face some challenges in attracting and retaining top talent. These include:

• High cost of living: As mentioned above, the cost of living in Singapore and Hong Kong is high. This can be a barrier for some job seekers, especially those who are not earning a high salary.
• Competition for talent: The competition for talent is fierce in Singapore and Hong Kong. This means that companies have to offer competitive salaries and benefits in order to attract and retain top talent.
• Lack of affordable housing: The lack of affordable housing is a major challenge in both Singapore and Hong Kong. This can make it difficult for people to find a place to live, which can impact their decision to move to or stay in these cities.

The competition for talent in Singapore and Hong Kong is fierce. Both cities offer a high standard of living, a strong economy, and a diverse range of job opportunities. However, they also face some challenges in attracting and retaining top talent. These include the high cost of living, the competition for talent, the lack of affordable housing, and the political instability in Hong Kong.

Despite these challenges, both Singapore and Hong Kong remain attractive cities for job seekers. They offer a great quality of life and many opportunities for career advancement.

The Asia Pacific workforce is in a state of flux. The COVID-19 pandemic has upended the way we work, and employees are rethinking their priorities. In PwC's Asia Pacific Workforce Hopes and Fears Survey 2022, they surveyed nearly 18,000 workers across the region to get a sense of what they're thinking and feeling.

The survey found that employees are restless, with just over half satisfied with their job, over a third planning to ask for a pay rise in the next 12 months, and one in five intending to change employers. Given the acute skills shortage across the region, companies must do more than attract new staff; they'll also need to 're-recruit' the talent they already have by creating the conditions that make people want to stay.

Here are seven reasons why you should read PwC's Asia Pacific Workforce Hopes and Fears Survey 2022:

1. To understand what employees want

The survey found that employees want more meaningful work, a better deal around fair pay, and to be able to bring their authentic selves to work. But are their leaders listening?

2. To identify the key trends shaping the future of work

The survey also found that employees are concerned about the impact of technology on their jobs, the future of work, and the future of the workplace. By understanding these concerns, companies can start to develop strategies to address them.

3. To benchmark your company against the competition

The survey provides a wealth of data on employee sentiment and behavior across the Asia Pacific region. By benchmarking your company against the competition, you can identify areas where you're doing well and areas where you need to improve.

4. To attract and retain top talent

In a competitive job market, it's more important than ever to attract and retain top talent. By understanding what employees want and need, you can create a workplace that people are excited to be a part of.

5. To improve employee engagement and productivity

When employees are engaged and productive, they're more likely to stay with your company. By understanding what drives employee engagement and productivity, you can create a workplace that helps people reach their full potential.

6. To make better business decisions

The survey provides valuable insights into the mindset of the Asia Pacific workforce. By understanding what employees are thinking and feeling, you can make better decisions that will impact your business.

7. To stay ahead of the curve

The world of work is changing rapidly. By staying ahead of the curve, you can ensure that your company is prepared for the future.

Conclusion

PwC's Asia Pacific Workforce Hopes and Fears Survey 2022 is a must-read for anyone who wants to understand the current state of the Asia Pacific workforce. The survey provides valuable insights into the mindset of employees, the key trends shaping the future of work, and how companies can attract, retain, and engage top talent.

ASIA TALENT MOBILITY ALLIANCE (ATMA) WELCOMES ECA International WHO JOINS AS FOUNDATION PARTNER

Foundation Partners play a fundamental role in the development of Talent Mobility in Asia and the formation of ATMA's supportive programs and services for the industry across the region.

Hong Kong, March 27 -  Asia Talent Mobility Alliance (ATMA), a not-for-profit organization dedicated to enhancing the innovation and development of the talent mobility industry of Asia welcomes the support of ECA International, a leading provider of data, specialist software, consultancy and training to business on international talent mobility management as a Foundation Partner.

Foundation Partners provide substantial financial, talent and knowledge resources to help fulfil the vision and mission of ATMA. The program stands apart from a typical sponsorship and involves a deep partnership and leadership position for developing the organization. Invitations were extended to those companies with a demonstrated dedication to the professionalism and advancement of the talent mobility industry in Asia. 

"As cooperation and trade grow through agreements like RCEP and ASEAN and as Asian headquartered corporations expand regionally and globally, we believe an association built in Asia for the Asian talent mobility community and wholly focused on advancing that community is necessary," stated Sean Collins, ATMA Board Chair. "ATMA is a not-for-profit and relies on the support and active participation of members and sponsors. As a Foundation Partner, ECA extends its deep investment and involvement in ASIA and highlights a strong commitment to the Talent Mobility community here."

“ECA has been a leader in the global mobility industry for over half a century and has a long-standing presence in Asia. We are honoured to be joining ATMA as a Foundation Partner and are excited to help advance Talent Mobility in the region.," says Lee Quane, Regional Director for Asia at ECA International. "The movement of people into and within Asia will be critical for the continued social and economic development of the region and we look forward to supporting the work of ATMA."

About:

Asia Talent Mobility Alliance (ATMA) is dedicated to empowering the talent mobility industry in Asia. It is the first not-for-profit mobility organization developed in Asia specifically for Asian and Asian headquartered companies. Members include HR, Talent Acquisition, and Global Mobility teams, as well as those in related fields that provide the support and structure to position employees wherever needed. ATMA advances its mission through services and programs that support members' communication, education, community, and advocacy.

For more information, please visit: https://asiatma.com

Media Contact: Sharon Michnay, Relo Network Asia, +1.312.521.0871 sharon.michnay@relonetworkasia.com.

ECA International is the market-leading provider of knowledge, information and technology that enable businesses to manage their international mobility programmes. Partnering with thousands of clients globally, we provide a fully integrated suite of quality data, specialist software, consultancy and training. Our unparalleled insights guide clients as they mobilise their most valuable resource: people. We make the complex world of international mobility simple, providing clients with the expertise and support they need to make the right decisions - every time.

Mobility solutions for a world that’s constantly moving.

For more information, please visit: www.eca-international.com

Media Contact: Jenny Chiang, ECA International
jenny.chiang@eca-international.com