The case examines two major transitions currently taking place in Hong Kong—the transformation into a knowledge-based economy (KBE) and the replacement of the Gen Xers by the Gen Ys in the workplace. It sheds light on the skills that workers require and the strategies that government and industries should adopt to suitably develop a KBE. In doing so, the case elaborates on the policy initiatives Hong Kong has undertaken to create the desired human capital and to leverage innovation and technology across knowledge-based industries. It tabulates the key statistics and trends that enable manpower planning and projections.
While the case presents issues arising in the workplace due to intergenerational differences between Gen X and Gen Y, it questions how Gen Ys can effectively replace the retiring baby boomers and aging Gen X workers. It aims to arouse the attention of human resource (HR) managers in coming up with the appropriate strategies to incorporate and motivate the Gen Ys to fill the gap. In the end, can both transitions be successful and sustained? Can the new generation help transform Hong Kong into a KBE?
The case is designed for courses in human resource management, innovation and public policy. It can be useful for students to understand:
- Hong Kong’s development into a KBE
- Important elements of a KBE such as innovation and technology, research and development (R&D)
- Human capital planning and development
- Skills desired for a knowledge-based economy
- Generational differences in the workplace
- Motivation of young talents working in organization
- HR strategies to productively engage, attract and retain Millennials in the workplace