HKSI Research: Grooming of Talent in the Financial Industry

The financial industry is Hong Kong's fastest growing industry, and contributes about 16% to the GDP in 2006. Its value added per employed person is also the highest among the four officially announced "pillar industries" of Hong Kong. This reflects not only the importance of finance in a modern economy but also the strong human capital embodied in the professionals working in the industry.

In September 2007, the HKSI commissioned the Centre for Public Policy Studies of Lingnan University to conduct a market research on the manpower gap in the financial sector. Such a gap was identified by the HKSI in a 2005/2006 survey "HKSI Research: Corporate Hong Kong's Readiness for the Mainland Financial Markets" and the present study is a follow-up to further understand its nature and magnitude.

Two surveys, one with employers and another with junior employees (with up to 3 years industry experience) in the financial industry, were conducted by the LU team from September to December 2007. During the period, the LU team discussed with senior representatives from 30 leading local and international financial institutions through focus group discussion, interviews and company visits. On the employee side, a total of 861 employee questionnaires were received.

A media briefing was held on 23 June 2008 to release the research findings. The press release and full report are available for public access.

We hope that our research findings can facilitate the discussion among the industry, academia, government and regulators. In this way Hong Kong will be able to maintain its strength as a prime regional hub for the financial industry.

Finally, the Institute is indebted to the Members of the HKSI Board and Research Committee. Insights and guidance from these experienced professionals help assured the quality of the project.

In 2005, we had conducted a research on Corporate Hong Kong's Readiness for the Mainland Financial Markets. Please click here for details.