Mastering Professionalism and Competence in Hong Kong's Competitive Business Landscape

Hong Kong is fast becoming a global financial hub, with an ever-active business landscape. As an active business in this landscape, there are increasing pressures to uphold the highest standards of professionalism and competence to succeed in business. From navigating cultural nuances to keeping up with the latest local and global trends and regulations, the challenges can be daunting and costly for business. 

This article covers the essential themes businesses should be aware of to help them stay ahead of the curve. Whether you’re a seasoned business or just starting out, read on to learn how to master professionalism and competence to achieve your business goals. 

Why displaying competence is becoming increasingly important in the Hong Kong business market

Reputation for ESG as a key consideration

Hong Kong’s construction industry is a powerful engine behind the city’s rapid urban development. Yet, to stay competitive in the region, businesses must be able to position themselves as an ethical, sustainable and efficient industry player. This will require a firm commitment to overcoming common construction pitfalls, such as project delays, labour-intensive practices and carbon-intensive processes.

Success hinges on the way firms respond to these challenges. Reputation plays a key role in decision making; as credibility and trust are paramount in construction, businesses which actively address these issues will have a clear advantage. Professionalism and competence are key to foster strong relationships with industry stakeholders, while a reputation for ethical conduct, sustainable practices and quality standards can affirm greater influence in the long term.

Piers Brunner FRICS MHKIS RPS (GP), CEO at Knight Frank Hong Kong, adds that ESG is an unavoidable consideration for decision-makers, while a major driver for industry transformation that should be celebrated.

RICS: How are consumers in the region becoming more ethically aware of business practices and how have you had to adapt from that?

Piers: I think all customers should be ethically aware that is just part of running a business, but ESG has made a difference for us and I feel our clients are aware so all of us must collaborate. In terms of business practice, there are so many standards but I enjoy the fact that so many people want to be practitioners. So always raising our standards.

RICS: What importance do you personally place on business reputation?

Piers: Reputation can be so difficult to build but so easy to lose. It is everything for an individual or a company.

Mitigating misconduct for career progression

Achieving high standards of professionalism and competence warrants closer inspection of ethical workplace practices. According to EY’s Global Integrity Report 2022, the majority (96%) of Hong Kong respondents believe integrity is important to sustain their business and is demonstrated by senior leadership.

Yet, the report found many senior managers are out of touch with the way employees perceive integrity values within their organisation, especially in highly competitive environments, where 40% of respondents ommitted a willingness to engage in misconduct if it would enhance their career progression.

While such practices are not uncommon, misconduct fuelled by workplace competition can have a detrimental impact on individuals, organisations and the industry. Meanwhile, organisations which reward individuals for ethical conduct and prioritising industry standards within their corporate strategy are far more likely to discourage unethical behaviour and cultivate a workforce committed to excellene.

How to gain a competitive edge within the construction sector

Continuous skills development

Construction is a fast-evolving industry, so staying up to date with industry trends and technologies is critical for success. Equally, investing in employee development that reflects these trends can help organisations raise professionalism and competence levels within their workforce, while effectively adapt to changing market demands. Consider offering employee training programs, workshops and seminars that cover topics such as sustainable construction practices, digitalisation and project management methodologies.

To master professionalism and competence within your workforce, take a look at the RICS Support Packages. RICS provides invaluable market insights, training tools, networking opportunities and recognition for organisations committed to excellence. With unlimited access to cutting-edge resources, you can empower your workforce and position yourself as a leader in the field.

Ethical conduct as a differentiator

As members of a forward-looking profession, construction professionals have a part to play in promoting a proper understanding of sector professionalism and competence and to do our best to ensure that we leave the built environment sector in better shape than we inherited it. Businesses that prioritise ethical conduct have a distinct competitive advantage, as industry clients become more ethically aware and value transparency, fair labour practices and sustainable operations.

Businesses which can demonstrate a commitment to ethical behaviour and responsible business practices to clients and stakeholders and align values with their target audience will not only attract like-minded clients but contribute to the development of a more ethical construction sector in Hong Kong.

Professionalism promotes a culture of integrity

Professionalism and competence are pillars for success in the construction industry. By prioritising ethical conduct, investing in continuous skills development and embracing industry standards, businesses can distinguish themselves and unlock a world of opportunities in Hong Kong's dynamic construction sector.

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