Hong Kong employees deem compensation and benefits as the most important considerations driving their career choices, said Randstad recently when releasing results of its H2 2021 Workmonitor survey.
The Randstad 2H 2021 Workmonitor survey was conducted in September 2021 across 34 markets around the world with a minimum of 800 respondents in each market, the recruitment agency noted.
- As for the factors driving their career choices, while 73% of respondents prioritise compensation and benefits as the most crucial, only 30% deem working for a respected and caring employer as an important consideration.
- 29% of respondents care about having meaningful work and only 13% consider the work environment as a factor when making career decisions.
- While the pandemic has sparked ‘The Great Resignation’ trend with many working professionals now seeking more meaningful work and reconsidering their work-life balance, Hong Kong seems to buck this global trend.
- More than one in two respondents reported being unhappy working for their current employers and 36% have changed jobs in the past six months.
- Two in three respondents feel unfairly and insufficiently rewarded for their current skill set and are motivated to look for another job.
- If given the opportunity, 65% of respondents would consider a role from a company outside of Hong Kong if they can perform the job locally.
- This view is more pronounced among the younger generations, with 69% of respondents aged between 18 to 24 open to the opportunity.
Many employees have chosen to remain with their employers for job and income security during the pandemic, said Natellie Sun, Managing Director of Search & Selection at Randstad Greater China.
“Job seekers who are motivated by a high salary will feel a strong desire to take advantage of the new labour market movements and switch employers in 2022,” she noted.
Hong Kong employees not too motivated by remote work options
More than eight in 10 respondents said that the experience of the pandemic made them want more flexibility in their job and career, according to survey results.
However, when considering their career choices, only 15% of respondents are motivated by remote work options, Randstad said.
The Hong Kong’s workforce is plagued by traditional work ethics such as presenteeism and OT working culture, Sun said.
“While the pandemic has demonstrated that remote working is possible, hybrid work remains a low priority for Hongkongers as they believe that they may lose out on the salary increment or promotion if they are not seen by their bosses in the office,” she pointed out.
In addition, space constraints at home are not conducive enough for Hongkongers to perform their jobs, pushing most to return to the office, she observed.
“Despite the workforce’s general reluctance to work from home, employers should still do their best to create a safe and friendly environment for their workforce and provide flexibility as much as they can,” Sun advised.
This can help alleviate some of the societal pressures and healthcare concerns that employees are experiencing, as well as reduce some of the “push factors” that would normally motivate an employee to look for a new employer, she added.