Survey

The availability of COVID-19 vaccine in late 2020 shed light on the pace in combating the virus. Mass participation of vaccination were encouraged around the world. The Hong Kong Government, for instance, introduced the community-wide vaccination programme in early 2021 and launched the “Vaccine Pass” this year. The road to full recovery though remains uncertain with variants of coronavirus appearing, it looks the worst of the pandemic waves have passed and the outlook is now brighter than at any time during the past two years.

The past two years have presented unprecedented challenges for the Hong Kong business. Various industries were forced to close temporarily during the 5th wave of the pandemic and many operations particularly SMEs are on the verge of closure. Recognising that keeping business afloat and preserving employment are the only way for Hong Kong business to grab the first opportunity to recover, the Federation proactively lobbied for a new round of Employment Support Scheme and incentives for stimulating local consumption. We are also prepared to work with the Government in any measures appropriate to allow the resumption of global mobility which is key to our economy as earliest as possible.

Yet, the business world will not be the same even after the pandemic is over. In combating the virus, many conventional business practices became infeasible and were forced to suspend. On-line platform increasingly plays a dominating role in shaping shopping experience and consumption pattern. Flexible work arrangement, an initiative once advocated for achieving work-life balance, becomes the “new normal” in securing business operation. Employers have to accelerate their digital transformation, and to develop new policies and practices to accommodate remote work. These trends will continue to play an important role in shaping the business ecosystem in the years to come.  At the same time, it is anticipated that the mix of occupations may change as a result of the various new norms, and some workforce transitions will be seen.  Both employers and employees are therefore encouraged to stay adaptable and resilient to create a balanced workforce together.

The 5th edition of the Federation’s Guide to Good Employment Practices, incorporated with three key challenges for employers, namely, digitalisation, employee wellness and employee diversity, was published last year. In addition to key principles in managing employees from their recruitment to retirement, the ten case studies provided real examples to showcase the best practices that organisations, in all sizes, may adopt.

Opportunities always come with crises. Hong Kong business is famous for its diligence and flexibility. We are confident that our economy will bounce back quickly once opportunity arises, as we have experienced in the past decades. The Federation, as always, will stand with Hong Kong employers for their business success and the sustainable development of Hong Kong.

Last but not least, I would like to express my gratitude to our Chairman, Ir Alkin Kwong, our Vice-Chairmen, Mr Stephen Ng and Mr Wilson Kwong, as well as members of the Council, the General Committee and all working committee, for their unwavering support and contribution to the Federation.

Louis Pong
CEO
May 2022

back