Source:
https://scmp.com/business/article/2096554/third-hongkongers-remain-job-pay-rise Business
Even with a pay rise, most Hong Kong professionals are eyeing other jobs
Despite the competitive hiring environment in Hong Kong, only 34 per cent of employees surveyed say they will remain in their jobs, if given a pay rise
Hong Kong employees are looking out for new opportunities amid a competitive hiring environment. Photo: Sam Tsang
Only one-third of Hong Kong employees plan to stay in their jobs for another year even if they are being given a pay rise, according to the latest recruitment agency report.
The report findings based on a phone survey by Hudson, which covered 3,500 employers and employees from human resources, accounting and finance, financial services and sales and marketing sectors in China, Singapore and Hong Kong, found that 89 per cent of employees are expecting a base salary increase in the next job review. The survey was conducted in March.
In Hong Kong, only 34 per cent of the 403 Hong Kong employees interviewed said they would remain in their current position if they are being given a pay rise, while 52 per cent were “not sure” and 14 per cent would leave.
“Most professionals are keeping an eye on the market in case there are better opportunities elsewhere,” Hudson’s Regional Director Siddharth Suhas said. “Even if they’re happy in their current organisation or indeed even if they receive a pay rise.”
The report found that in general, 30 per cent of local employees are already actively looking for new jobs and 53 per cent said they are open to new opportunities. Only 17 per cent of those who surveyed said they would stay with their existing employer.
“One of the main reasons given to us when we ask why a candidate is looking for a change is their relationship with their manager and work culture,” Suhas said.
Suhas said that employers who were not planning for a salary increase could offer better welfare benefits to retain staff for another 12 to 18 months, such as increasing housing allowance and medical benefits.
The Hudson report said the increasingly competitive local hiring environment was compelling more employees looking for other job opportunities.
Out of the 420 Hong Kong employers surveyed, 35 per cent are increasing their company head count, compared to 27 per cent in the second half of last year.
Human resources employers are the most active in hiring among the sectors covered, according to the report. The survey saw 96 per cent of employers from the sector looking to either increase headcount or replace staff who left.