IT Talent Crunch in the New Industry
With reference to a 2016/17 talent shortage survey, Hong Kong is a dearth in its supply of computer programmers and IT talents. Almost 40% of the city’s mobile application development have been forced to look for programmers, engineers and designers externally.
While businesses, e.g. Li & Fung, are thirsting, IT people are longing to work for tech companies which offer stock-based compensation. Since some of their stocks keep appreciating, the small ownership becomes a jackpot for the employees. Therefore, it is time to re-evaluate the value of your IT department and try to retain the great minds as long as you can.