Key survey findings: (Source: Michael Page International 2012/13 Employee Intentions report, Hong Kong)
- Most employees surveyed (42%) rate the current job market as strong.
- Some 40% of respondents indicate they are most likely to change jobs within the next six to 12 months.
- Over a third of respondents (37%) cite career progression as the main reason to change jobs and almost half (47%) will ask their current employer for a raise.
19 May 2012: Employers will need to focus on ways to secure talent over the next 12 months as skilled professionals look for opportunities to progress their careers across industry sectors in Hong Kong in the employment market.
According to the latest Michael Page International Employee Intentions report for Hong Kong, the majority of employees (42%) are confident about the strength of their professional job markets. A further, 40% of survey respondents indicate they are likely to change jobs in the next six to 12 months.
“The employment market in Hong Kong is healthy as a steady volume of jobs is driven by large Chinese companies and growing multinational corporations developing their regional operations across the territory. With the solid number of job opportunities, employers will need to look at the most appealing incentives to secure talented professionals,” says Mr. Anthony Thompson, Senior Managing Director, Michael Page International in Hong Kong and Southern China.
“However in contrast to overall market strength, sentiment about the financial services job market is less optimistic as conditions continue to be affected by the uncertainty of broader, global economic conditions,” Mr. Thompson adds.
The majority of surveyed employees report financial reward as the key incentive to remain with their current employer, with nearly half of respondents (47%) planning to ask for a pay rise in the next year, of which 36% will request an increase of between 6% and 9%. For those looking to change roles, a position with scope for career progression would attract most job seekers (37%) to a new company.
“Employers will need to focus on retention and will be expected to enter into salary negotiations to keep their top talent; that is individuals with the experience and knowledge to drive the business forward. Similarly, for companies looking to hire skilled employees, based on the survey findings, job seekers will be looking for competitive remuneration and a career development plan,” adds Mr. Thompson.