Hong Kong employees want to change employers in the first half of 2022, with 31% of respondents in a survey indicating their plans of doing do, said Randstad recently when releasing results of a survey.
The percentage represents an 8% increase from 2021, the recruitment agency noted, adding that the percentage of respondents who are not afraid of losing their jobs and intending to change employers also rises by 8% to 26% this year.
There has been a more positive outlook on the business and labour market in 2022 as more companies are starting to hire again to meet business growth objectives, said Natellie Sun, Managing Director of Search & Selection in Greater China at Randstad.
“While the Omicron wave has slowed down recruitment and onboarding activities, many employers are building a talent pipeline to start work once the measures are lifted,” Sun noted.
Hong Kong employees seek a healthier work-life balance
More than one in five respondents had changed employers between July and December 2021, according to survey results.
The top three drivers motivating job switchers to search for a new employer last year were work-life balance (53%), salary and benefits (51%), and the financial health of the company (47).
“Hongkongers are feeling increasingly stressed and overworked, especially this year,” Sun said. “Unable to travel and having their social interactions limited due to the strict pandemic restrictions, many employees throw themselves at work to distract themselves. But this has led to negative repercussions for their mental health.”
Job seekers are hence more motivated to find a company or manager that genuinely cares about the well-being of their staff once the hiring market becomes active again, she pointed out.
The fear of losing jobs motivates more Hong Kong employees to switch jobs
In addition, more than two in five respondents who were afraid of losing their jobs planned to change their jobs in the first half of 2022, marking a 9% increase from 2021, Randstad said.
Employees expect significant changes to their job responsibilities in the coming years due to the accelerated digital push from the pandemic, Sun said.
External factors such as a changing business environment could further stress employees who fear that their skills might quickly become obsolete, affecting their ability to continue working in their current jobs, she added.
“Employers should look to implement proper training initiatives to help employees upskill and re-skill so their workforce is confident and capable enough to tackle new business challenges”, Sun advised.