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Q5 Nurturing Culture Report

Author: Q5

Now more than ever, business leaders need to consider their culture, and act decisively if they find it wanting. The business case is just too strong to leave it to chance. A number of shifts are pushing organisations towards a tipping point as they face unprecedented social and environmental challenges. The pace of change and need for agility is growing.

Engaging employees is often acknowledged as important but too many leaders just do not know where to start. Others rely on tired approaches that, at best, seem like lip service and at worst actively turn their people off. Younger workers often want different things from a traditional career and ways of operating are changing; employees are devolving decisions and employers are increasingly exploring ways of letting them become self-managed. Such fundamental changes increase the need for a strong, cohesive culture. In the modern world, the shared purpose and values are what bind it all together.

Q5 spoke to top business leaders about nurturing their organisations’ cultures through change and their research found that great organisations do 4 key things as they nurture culture in the face of transformation. They:

1. Start with the facts – getting really clear on what they have now, the ingredients that make their culture unique and the flavours they want to dial up

2. Have leaders create the emotional hook – with the right combination of ‘show’ and ‘tell’. Leaders are the ‘yeast’ that generates the bubbles in the dough of culture

3. Acknowledge that culture is too important to be left to the leaders - it is an organisation’s people who turn a combination of ingredients into a fully baked culture. Particularly in times of change, they need to be allowed space to grow, find their voice and buy-into the vision and run with it

4. Keep working on it (without being heavy-handed) – measure, test and refine the recipe over the long-term

Click here to read the findings from Q5's research.



2018 Asia Salary Snapshot: How Much Are You Worth?

Author: Links International

Links International presents its annual "Salary Snapshot" report, with information collated from over 1,000 candidates and clients across the Asia-Pacific region who responded to their Salary Survey. They have added to this information their own insights, based on observations and candidate placements that have been made throughout the year.

Through this Salary Snapshot, Links International aim to provide clients and candidates with a concise overview of human resources and salary trends across Asia, including a glimpse of what motivates professionals in 2018.

The hiring market for permanent staff in 2017 continued to increase, actually at a higher pace than the previous year, and this is expected to continue into 2018. Results show that the hardest roles to recruit this past year were entry to middle level management roles in finance & operations, commercial sales and commercial operations, whilst senior management roles within asset management and wealth management were also relatively difficult to recruit.

The majority of employers in Hong Kong and China stated that they had increased salaries by 3-6% during the past year, whilst Singapore employers mostly stated that they had increased salaries by only 0-3%. Similarly, in 2018, employers across all regions are expecting salary increases of approximately 3-6%.

Bonuses in the past year were heavily based on employee performance (70%+) across all regions, followed by employer performance (65%). Employees in China received the largest bonuses on average, with 45% of employees receiving bonuses in excess of 25% of their annual packages. Meanwhile, most employees in Hong Kong (57%), Singapore (83%) and China (55%) received a bonus of between 0 to 25% of their annual package.
Interestingly, when it comes to employers being open to sponsoring qualified expats, it was the Singapore respondents who were at the top (despite the MOM’s ‘Singaporeans first’ policy), with 69% claiming they would consider hiring overseas talent, compared to only 38% of Singapore respondents last year. There was also an increased interest from Hong Kong employers to hire overseas talent than the previous year (47%, compared to 39%), whilst consideration for hiring overseas talent in China has decreased significantly from 53% to 27%.

Click here to access the full report.



China VC Investment Hits New Heights with USD40 Billion in 2017


Venture capital (VC) investment in China reached a record high of over USD40 billion in 2017. The positive sentiment was driven by a number of mega deals as investors seek opportunities in artificial intelligence (AI), autotech and enterprise services companies, finds latest KPMG analysis. 

China accounted for five of the top 10 largest VC financings globally in Q4 2017, including three transactions that were larger than USD1 billion, according to Venture Pulse, KPMG's quarterly global report on the latest VC trends. The strong showing helped propel China's VC market to new heights, with a record investment of more than USD40 billion, or a 15 percent increase from the USD35 billion seen in 2016.

Continued investor focus on quality has resulted a decline in the overall number of deals to 75 - the lowest quarterly figuer since Q2 2013, the report highlights.


To see the full press release, click here.

To read the full report, click here.




Britain in Hong Kong: The Cost of Green

Author: Gina Miller, Editor, Britain in Hong Kong



Britain in Hong Kong: China OFDI - Going Global Responsibly

Author: Gina Miller, Editor, Britain in Hong Kong



30 Years of Britcham: A Potted History

Author: Gina Miller, Editor, Britain in Hong Kong



Britain in Hong Kong: How Smart Are We?




Dying For Care

Author: James Kelly

With the general public in Hong Kong making the housing problem an overriding priority, other emerging social issues; the aging population and the quality of end-of-life care have seemingly been overlooked. These two issues have resulted in a phenomenon that we have never seen elsewhere before. In Hong Kong’s healthcare system 90% of people pass away in hospitals, while 10.7% of people express that they would prefer to die in the hospital due to fear of deterioration in the value of their property.

Care workers are understaffed and the increasing demand for residential care has also caused growing pressure and problems to the health care sector in Hong Kong. It is time for Hong Kong to learn from its counterparts in order to develop feasible solutions that pay respect to the contribution of the elderly and keep their last journey as enjoyable as it can be.

To read more about the end-of-life and health care service in Hong Kong.



What Is WeChat?

Author: Alan Ma

Digital marketing: What is WeChat
With the increasing popularity to China’s local market, WeChat has attracted over 938 million active users. Major brands have embarked on their marketing campaigns on this ‘SuperApp’ in order to successfully engage with the growing Chinese market. Market indications suggested that WeChat will continue to become an essential powerhouse for business on a global level.
Click here to read more about The market opportunities that WeChat can offer. 



Andrew Seaton, Executive Director at British Chamber of Commerce, speaks on RTHK


This morning, Andrew Seaton, Executive Director at The British Chamber of Commerce in Hong Kong, joined Peter Lewis on RTHK Radio 3 Hong Kong for Money Talk. Andrew speaks about business needs for the transition of Brexit, how it will affect UK businesses holding economic relations with the EU, and how it will impact the Hong Kong market.



Hong Kong Highlighted in British Chambers of Commerce International Trade Outlook


The Quarterly International Trade Outlook, published by the BCC and DHL for the first quarter of 2017, shows that confidence among UK exporters remains strong.

The number of businesses reporting improved export sales increased in the first quarter of 2017. Businesses in both manufacturing and services are also more confident that their turnover and profitability would increase in the coming 12 months.

The BCC/DHL Trade Confidence Index, which measures the volume of trade documentation issued by accredited Chambers of Commerce, rose by 5.5% on the quarter – and is up 9.06% from the same quarter last year – standing at its second highest level on record.

The results show that businesses are continuing to trade despite political uncertainty, however currency fluctuations remain a concern. 52% of manufacturers and 25% of services firms say exchange rates are more of a concern to their business than three months ago.

The full Quarterly International Trade Outlook report is available here.



Finance Feature: On the Hook


With the advent of the Securities and Futures Commission’s decision to implement a Manager-in-Charge regime, a new class of officers of licenced corporations could be in line to face the music for any malfeasance.



Inspirational Women: A First Lady of STEM


An interview with Kathy Chen, Former Managing Director of Twitter, China, discussing her career success in the tech industry.



Retail: Commercial Drive


An overview of Hong Kong's retail market, its trends and where it's headed. Kevin Lam, Head of Business Space at Cushman & Wakefield, speaks about high street rental prices, the hospitality sector, and the fast-moving players of the industry. 



COMMUNICATION: Culture at Work


No rights and wrongs - but a potential minefield of miscommunication. Learn how to adapt to different behaviours, minimise potential conflict and take steps to fully integrate your employees in creating new ways to work together.



Is China Leading the World in Green Finance? What Role Should Hong Kong Play?


This February, the Chamber ran a panel on green finance and what role Hong Kong can and should play.



Empowering People: British Chamber GETsIT VTC Programme


The British Chamber and the Vocational Training Council provide excellent opportunities for IT students and the companies that hire them.



Gen Z LIfe Beyond the Glass Ceiling

Author: Gina Miller

The technology generation was born to Skype, Facebook, Yahoo and all things Internet. Will this Generation Z free us from the margins that have traditionally split the workplace?



Fintech Sector Needs More Women

Author: Ivan Yip, Inward Investment Manager, UK Department for International Trade – Hong Kong & Macau

It’s a double-whammy: tech and finance have traditionally been maledominated fields and as such, have been limited in perspective and experience. The inclusion of more women and greater diversity in general have proven to increase ROI and offer fresh insights for those companies wise enough to broaden their workforce.



China – Beijing fully adopts new methods to calculate disability fund contributions


As a direct result of the issuance of Circular 72 on September 8th 2015 Beijing is the first city to fully adopt a new method for calculating a company’s contribution to the disabled persons’ employment security fund. The 2015 rules became effective in Beijing on January 1st 2016 and are expected to eventually be expanded to and fully implemented in other parts of the country which are currently still using the 1995 rules or have implemented the new calculation method but established an upper limit on the disability fund calculation base.



Enough Monkeying Around

Author: Gina Miller

What a year it's been: Britain in Hong Kong reviews the highs and lows of 2016, and looks forward to brighter – if no less controversial – days in 2017.


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