Almost three quarters (73%) of Hongkongers say compensation and benefits is the most important career consideration.
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 SAR seems to buck this global trend, according to Randstad's Workmonitor survey. The bi-annual survey highlights the workforce’s latest sentiments and perceptions of the local job market.
Working in a caring environment and having meaningful work is not as important as having good compensation and benefits for Hongkongers, the report revealed.
“Culturally, employees in Greater China are more focused on fulfilling what’s expected from them at work rather than building friendly relationships with their colleagues," said Natellie Sun, Managing Director of Search & Selection, Randstad Greater China in a press release. "Although Hongkongers are not adverse to a friendlier working environment, the pressures of society and the rising cost of living has Hongkongers prioritising salary over other employee benefits.”
Over half of respondents reported being unhappy working for their current employers and 36% have changed jobs in the past six months. While two in three respondents of the survey feel unfairly and insufficiently rewarded for their current skill sets 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 SAR 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.
Over 80% of people said that the experience of the pandemic made them want more flexibility in their job and career. However, when considering their career choices, only 15% of respondents are motivated by remote work options.
"Hong Kong’s workforce is plagued by traditional work ethics such as presenteeism and OT working culture. 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. Furthermore, the space constraints at home are not conducive enough for Hongkongers to perform their jobs, pushing most to return to the office,” was Sun's analysis.
“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.”
Photos / Randstad