Training and Development in Hong Kong’s SMEs
The labor market in Hong Kong is consist of two labor markets – primary and secondary (Ng and Wright 2002). Large private firms and the civil service constitute the primary sector while small and medium enterprises (SMEs) constitute the secondary sector. According to Ng and Wright (2002), the HR practices in the small and medium enterprises, particularly training and development was less structured, and less formalized. The training and development programs of SMEs were limited.
SMEs in Hong Kong today has gained importance. SMEs are considered as the backbone of the economy of Hong Kong. SMEs are considered as the driving force of economic development. The process of economic restructuring is greatly influenced by the SMEs. SMEs comprise over 98 percent of business establishments in Hong Kong. SMEs are currently employing about half of the working population if private sector.
Training and development are planned learning experiences that teach employees how to perform their current and future jobs. Training focuses on present jobs, whereas development prepares employees for possible future jobs. Training and development is small and medium enterprises are neglected.
The Hong Kong government aims to encourage the proliferation of SMEs. Numerous schemes and programs have been introduced by the government in order to encourage and support SMEs. One such program is the SME training fund. The SME training fund aims to provide training grant to SMEs in Hong Kong to provide training relevant to their business operations. The program’s goal is to enhance the human resources practices and activities in SMEs and to increase SMEs’ competitiveness and capabilities.
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