Hong Kong employees less loyal to bosses than global counterparts
Hong Kong employees are less loyal to their bosses compared to their international counterparts, which makes employee retention a challenge in this city.
Hong Kong employees are less loyal to their bosses compared to their international counterparts, which makes employee retention a challenge in this city, according to a recent study by Towers Watson, an international professional services company.
Towers Watson surveyed more than 32,000 employees in 26 markets, including over 1,000 in Hong Kong.
The study found 31 per cent of Hong Kong employees expect to leave their companies within two years, higher than the global average of 26 per cent, while 38 per cent of Hong Kong employees expect to stay with their companies, less than the global average of 46 per cent.
Only 26 per cent of Hong Kong employees are highly engaged with their employers, compared with 40 per cent globally, while 61 per cent of Hong Kong employees are completely disengaged or detached from their employers, compared with the global average of 41 per cent.
Marieke van Raaij, practice leader of Organisational Surveys and Insights for Towers Watson, said: "The high percentage of employees responding that they are considering leaving their current employers is certainly a worrying trend for Hong Kong companies. Our research reveals highly engaged employees are more likely to stay with their employers."
"Employers are encountering a worrying disconnect from their staff on the issue of pay equity. Just 43 per cent of Hong Kong employees believe they are paid fairly, significantly lower than the Asia Pacific average of 51 per cent. Hong Kong companies need to ensure equity in pay and do a better job communicating with employees about pay practices," said Trey Davis, Hong Kong talent and rewards director for Towers Watson.
