Companies in Hong Kong are continuing to invest in employee training and development, and in 2014 the investment hit a 10-year high as a percentage of staff salaries, according to a recent study in China. At 3.5 percent of total salaries, the Hong Kong Institute of Human Resource Management said the data indicate the city’s dedication to improving productivity though investing in human capital. About 82 percent of the 117 companies surveyed indicated that they had a training and development budget for employees last year. Of the sectors covered in the survey, the highest training budget percentages were in retail, construction/real estate/property development, wholesale/import/export/trading, transport/logistics, and banking/financial services/insurance. Despite financial uncertainty, the report indicated that Hong Kong companies generally see investing in their employees as an important factor in staying competitive at the regional and global level. “We are pleased to see that employers were more willing than ever to invest in employee training and development, as evidenced by the average training budget of 3.5 percent at [a] 10-year high," said Barry Ip, co-chairman of the Institute’s Learning and Development Committee.
Hong Kong Invests in Employees at Record Rates