Designed by Freepik
The government's "Top Talent Pass Scheme" (TTPS) was hailed as the solution to Hong Kong's brain drain. But today's data—showing a renewal rate of just 55%—is a wake-up call for every HR leader in the city.
The "Mismatch" Problem
Why are nearly half of these high-potential individuals leaving (or failing to renew) after two years? It’s not a lack of jobs; it’s a lack of alignment.
- Over-Qualification: Many TTPS holders are senior specialists (e.g., PhD researchers), but local openings are predominantly for mid-level operational roles.
- Cultural "Soft Landing": A survey suggests 40% of non-renewals cited "workplace culture integration" difficulties, not salary, as the primary exit reason.
The Opportunity for Forward-Thinking Employers
This "dropout" statistic represents a massive, untapped pool of desperate talent. These are qualified professionals already in Hong Kong who are racing against a visa clock.
- The "Visa Rescue" Strategy: If you have hard-to-fill roles, specifically target TTPS holders nearing expiry. They are motivated, available immediately, and legally employable if you sponsor the renewal (which is a simple administrative process compared to a fresh visa).
Actionable Tactic:
Add a specific line to your job postings: "Visa sponsorship available for TTPS renewals." You will be flooded with high-calibre candidates that your competitors are ignoring.
Conclusion:
Retention isn't just about keeping your old staff; it's about keeping the new talent the city fought so hard to attract. Don't let this talent pool evaporate.
💡 Need help navigating visa renewals? Visit Me2Works to connect with immigration specialists who can save your candidate's status in 48 hours.
References:
- The Standard. "HK's talent scheme renewal rate at 55pc."