How to Navigate the Hong Kong Job Market in 2026, According to an Expert

How do you feel about the job market in Hong Kong for 2026? Some 34% of Hong Kong employers are planning to grow their headcount this year.

As Marlon Mai, the new Managing Director of Morgan McKinley Greater China shared in our brand new Hong Kong Salary Guide, “Hong Kong employers are expanding in key areas but are carefully evaluating each headcount against cost and long-term business value.”

He noted that talent shortages exist across technology, healthcare, life sciences and financial services, while roles in AI, data analytics, cybersecurity and cloud solutions are currently the most sought after.

With tighter salary budgets, many employers are focused on mid-level hiring to maximise structure and efficiency. Similarly, skills-based hiring continues to grow, with greater emphasis on adaptability, analytical capability, and AI proficiency.

So, what should Hong Kong businesses know about the best way to navigate the job market in order to find and hire the best talent for the year ahead and into the future? Marlon shares his insights below.

1. Move Beyond the "Backfill" Mentality

Marlon’s first advice is to move away from just “routine backfilling”: “Focus strictly on value-creation and transformation.” He explains: “Employers are carefully evaluating every headcount against cost and long-term business values.

To achieve this, he advises Hong Kong businesses to focus on the roles that:

• Drive revenue: Such as front-office roles in banking and sales professionals in high-growth areas like fintech and cybersecurity.
• Enable transformation: Prioritise roles that facilitate organisational or digital change, such as Finance Transformation Leads or HRBPs.
• Mitigate risk: With increased regulatory complexity, roles in cyber risk, compliance assurance, and ESG are critical.
• Cannot be automated/offshored: We are seeing operational roles move to lower-cost regions. Therefore, hire Hong Kong talent for strategic, decision-making, and stakeholder-management.

2. Target the "Value-Driving" Roles of 2026

According to our 2026 Hong Kong Salary Guide, the roles that drive long-term value will be those at the intersection of technical expertise and commercial strategy, says Marlon.

He advises assessing whether your business is missing any of following roles:

• Technology: Cloud Architects, Cybersecurity Specialists (SOC), and Data Engineers (Real-time/Kafka)
• Finance: Finance Business Analysts and Transformation Managers (those who can move beyond traditional reporting)
• Sales: IT and Cybersecurity Sales and Professional Services Sales (these can act as important revenue-generators)
• Supply chain: Process Improvement Specialists and Strategic Sourcing
• HR: HR Business Partners and People Analytics Leads

3. Prioritise the "Multi-Skilled" Professional

Want to really find more cost-conscious hires in 2026? An important piece of advice that Marlon shares for all businesses is that: “You must look for "multi-skilled" professionals.”

He explains: “In 2026, the highest areas of value will come from the employees who can wear multiple hats.” For example:

• In finance, you want professionals who understand accounting and data analytics / automation.
• In HR, you want professionals who understand people strategy and HRIS technology (such as Workday).
• In marketing, you want creative minds who are also proficient in CRM data and AI tools.

4. Benchmark Salaries (But Compete on Stability)

More focused hiring isn’t the only shift the Hong Kong job market has seen – the mindset of the Hong Kong candidate has shifted too, says Marlon. While salary remains a factor, interestingly stability and flexibility are now the primary drivers.

The era of aggressive bidding wars is largely behind us, says Marlon. Salary budgets are projected to return to 4%, while job movers will receive 10-15% for general moves. Significant premiums (15-20%+) are now reserved strictly for niche, high-demand skills (such as AI, data, cybersecurity and finance transformation). Here’s what to consider instead:

• Job security: In a market marked by economic change, candidates are risk-averse. Stability often outweighs pay rises.
• Work-life balance: Hybrid and flexible working are now the "norm." Employers demanding a full 5-day office return may struggle to attract top talent.
• Career growth: Candidates are looking for employers who invest in their development, specifically in upskilling them for the AI and digital era.
• Performance bonuses: Especially in finance, bonuses linked to project delivery and transformation outcomes are becoming a larger share of compensation.

5. Embrace the "Contractor Economy"

Have a project with a tight deadline with little time for a permanent hiring search? Marlon advises using contractors for project-based work: “This allows you to bring in high-level expertise for a specific transformation project (driving immediate value) without adding permanent fixed costs.”

6. Look for "Translators," Not Just Technicians

One of the biggest improvements you can make to your recruitment process? Refine your assessment to look for commercial insight, says Marlon. Our report highlights that even in technical fields, soft skills are becoming non-negotiable prerequisites:

• Technology: Developers need strong stakeholder communication.
• Finance: Professionals need strategic yet hands-on execution capability.
• Sales: Requires multilingual communication and GBA market acumen.

So, what’s the best way to find this mix? “Move beyond checklist hiring – use behavioural interviews to assess how a technical candidate communicates complex ideas to non-technical stakeholders”, says Marlon. This ability to “translate” is where the true value will lie in 2026.

7. Improve Your Recruitment Speed

Marlon shares that he often sees Hong Kong businesses making three clear mistakes with their hiring – lengthy recruitment processes, inflexible headcount planning and ignoring their passive talent pools. Here’s how to address each:

Mistake 1: Lengthy Recruitment Processes

• The issue: In Sales & Marketing, recruitment cycles have lengthened to 4-6 weeks. In a talent-short market (especially for revenue-generators), you will lose candidates to faster-moving competitors.
• The fix: Streamline approvals and consolidate interview rounds.

Mistake 2: Inflexible Headcount Planning

• The issue: Trying to find a "unicorn" permanent employee for a role that might only be needed for a 12-month project.
• The fix: Embrace the "contractor economy." Use contractors for agility, covering gaps, or managing transformation projects. This reduces risk and keeps your permanent team lean.

Mistake 3: Ignoring "Passive" Talent Pools

• The issue: Senior-level movement is limited as executives aren't always actively applying to roles.
• The fix: You must engage partners who can tap into passive networks, rather than relying on job boards.

8. Don’t Forget to Invest in Agility and Retention

The bottom line for the Hong Kong job market in 2026? It will be defined by digital acceleration and economic change, says Marlon. He advises businesses to focus on:

1. Agility: Don't be afraid to mix permanent staff with a flexible contractor workforce. This allows you to pivot quickly without heavy overheads.
2. Retention: Talent is your key competitive advantage. Companies that invest in their people—through training, engagement, upskilling and making the right hires —will win.

Want to learn more about the trends defining the jobs market in Hong Kong SAR? Download our new salary guide below– or speak to one of our consultants.

Get the free guide