Hong Kong's unemployment rate has dropped to a 20-year low of 2.8%. While this points to an overall positive outlook for Hong Kong's economy, it also means that tough conditions exist for those searching for new jobs. Despite the overall strong economic conditions, the job market still remains highly competitive and your dream job (and dream salary) may not be as attainable as the economic conditions may suggest.
So what can you do to find new opportunities in a tough market? Here we explore the top three tips on how you can boost your chances.
Digital skills are no longer a 'nice to have'It goes without saying that upskilling is a solid plan of action. Rather than taking on entirely new subjects, the training that you should look into should evolve your own current skill set, especially when it comes to the use of new technology. Job scopes are rapidly changing and requiring the implementation of sophisticated digital skills that weren't around just a few years ago. By focusing on adding digital skills to your roster, your worth to a business will grow exponentially.
Being unemployed doesn't have to be a disadvantageThose who are job searching while unemployed may find it even harder to land a job. Hiring managers looking at the CV of a person not currently in a role can sometimes, unjustly, believe that an unemployed person is unhirable.
To help combat this, you can focus on ensuring that you are still 'working' and gaining experience by volunteering for a cause that you support with your own skills. This can help hide that unemployment gap and showcase to employers that you can function well in a business environment with up to date skills.
As mentioned above, upskilling is critical, and the lack of a full-time gig does present an opportunity to take on more intensive courses that may not be possible to enroll in during full-time employment.
Network and build your profile in the industryResearch shows, time and again, that referrals remain one of the most effective ways to get your foot in the door. Referrals tend to provide higher quality employees and also boost retention rates, so employers usually take referrals very seriously during their hiring processes.
This means that networking is crucial and building your profile within the industry will ensure that contacts think of you when they see an open role that may suit your skillset. Two great ways to do this are by attending industry talks and conferences – not just as an attendee, but also as a speaker – and making sure that your social media channels are effectively leveraged with your own industry opinion pieces are a great way to kickstart this.