“Greater Bay Area” has undoubtedly been a buzzword with recurring appearances in both printed and social media since it was unveiled by the People’s Republic of China in February. This is a strategic amalgamation of 11 cities including the four vibrant, world-class cities of Hong Kong, Macau, Guangzhou and Shenzhen into a megalopolis, on par with the San Francisco, Tokyo, and Sydney Bay Areas in the world.
Just like any strategy to be brought to success, it is of utmost importance for a well-thought plan of execution. The Chinese government, in tandem with the SAR Governments of Hong Kong and Macao, have delivered a well-calibrated blueprint for achieving the grand vision of a thriving and innovative megalopolis.
By 2022, the combined strength of the Greater Bay Area should increase substantially, the cooperation among Guangdong, Hong Kong, and Macao should be deepened and broadened, and the internal driving forces for development should enhance in the region.
By 2035, the Greater Bay Area should become an economic system and mode of development mainly supported by innovation, with its financial and technological strengths vastly increased and its international competitiveness and influence further strengthened
We believe human capital and talent play a vital role in the Greater Bay Area (GBA) success. Let us explore three critical key points uncovered in recent publicity and whitepapers shared.
Degree of Digitalization
Recent research by LinkedIn Tsinghua Business School reveals an interesting trend. This study covers the digital talents within multiple industries operating within the Greater Bay Area. Digital skills have an extremely high penetration across the Infocomm Communications and Telecommunications (ICT) sectors, followed by manufacturing, media communications, and education at a distant second, third and fourth respectively.
This pattern reveals an immensely promising potential for further digitalization initiatives and adoption in the Greater Bay Area. The possibility for additional sow seed of growth in digitalization across an array of industries provides a considerable demand for digital talents like solution architects, professionals in business development and innovation, marketing professionals. A critical call to action for GBA industries is to leverage on Digital HR Adoption to foster Digital Transformations within their sectors.
Talent Pools Fuel Momentum
Smart Cities are powered not from a confluence of factors beyond infrastructure, monetary measures or performance outputs – EVERYONE who lives and works in the environment have a part to play. Everybody possesses the knowledge and imagination to turn ideas to solution and visions. Let us reframe this thought to be a combination of multiple talent pools fueling the momentum of a Smart Greater Bay Area.
Compared to the San Francisco and Sydney Bay Areas, the Greater Bay Area ranks last with the smallest proportion of talents with doctoral degrees. This is an opportunity that allows innovative reimagination in the Greater Bay Area. It presents both the government and higher education sectors for creative thinking.
Talents are cultivated and nurtured at every stage of life. The journey begins from elementary to higher or professional education, with a continuation of lifelong employability and learning. To nurture such core values in society, both government and more top education sectors in the GBA have essential roles to play. They ought to seize the opportunity to evaluate and review their macro growth plans. Nothing other than a Digital Transformation powered by people is in the optimal position to help inoculate the positive values that are essential to shaping the future of talent in society.
Unleashing Innovation & Fostering Entrepreneurship
The LinkedIn Tsinghua Digital Economy and Talent Development whitepaper also reveal the GBA has the lowest proportion of entrepreneurs compared with similar Bay Area megalopolises. At the same time, the GBA has a high percentage of corporate R&D talents employed.
Such a combination indeed allows for further efforts to promote the merits of entrepreneurship and risk-taking. Wouldn’t it be nice if corporate R&D talents have the opportunity to participate in innovation contests or hackathons? Such exchanges or competitions provide the ideal platform for the workforce to bring their creative ideas towards a broader audience of seed investors, and ultimately help to establish more startups and enterprises that would enrich the broader marketplace.
Within the SAP family, we have encouraged our employees to participate in the 1 Billion Lives Initiative wholly. This has given rise to 3 winners in 2018 whose ideas will receive seed funding from SAP.iO to grow their startups that would provide a social impact through effective use of technology. In Greater China, SAP SuccessFactors have launched our first developer contest / hackathon to allow our partners to showcase their Digital HR innovations designed to help our customers to innovate further.
With governments’ visionary policies in place, positive outlook towards digital transformation by industries and recognizing that people and talents are essential towards success, there is significant room for further opportunities for social, business and innovation growth in the GBA to envision a smart GBA powered by bright talents and digital transformation.