Changing employee demands in the past years have remained largely unmet by Hong Kong employees. According to research conducted by recruitment firm Randstad, Hong Kong employers lagged behind organisations in both Singapore and Malaysia.
This was revealed in the Randstad Award 2016 survey research results, which compared the attractiveness factors that were important to Hong Kong employees versus the key attributes companies scored well in. These attractiveness factors are facets of an employer brand which are crucial when talent are deciding to leave for a new company or stay.
|Potential talent in Hong Kong seek…||Employers in Hong Kong score best on…|
|1||Salary & employee benefits||1||Financially healthy|
|2||Pleasant working atmosphere||2||Strong management|
|Good work-life balance||3||Good training|
|4||Financially healthy||4||Career progression opportunities|
|5||Long-term job security||5||Long-term job security|
|6||Career progression opportunities||6||Salary & employee benefits|
|7||Interesting job content||7||Environmentally & socially aware|
|8||Good training||8||Pleasant working atmosphere|
|9||Strong management||9||Interesting job content|
|10||Environmentally & socially aware||10||Good work-life balance|
Work-life balance has risen significantly in terms of ranking, from 35% to 50% between 2014 and 2016 to tie in second place with pleasant working atmosphere. The results show that employers have not managed to address the rising importance of good work-life balance as respondents have highlighted that companies scored the least well in this area.
Job seekers focus on the top ten attractiveness factors, but these factors change when the candidates are asked what would make them stay or leave the company they are currently working for.
Good work-life balance was highlighted by 45% of all respondents as a major factor that would make them stay at their company. Additionally, 59% of employees in Hong Kong said they would leave their jobs due to a lack of adequate remuneration.
Natellie Sun, Managing Director of Randstad Hong Kong noted, “It is surprising to see that the Randstad Award research continues to show such a large gap between the demands of employees and employer offerings. Salary & employee benefits and good-work life balance are key factors in both attracting and retaining the best talent, yet Hong Kong organisations have continued to score low in these areas. However, these results are an average, and organisations with a strong employee value proposition can leverage their higher attractiveness to pull in the best talent in Hong Kong.”
The Randstad Award is based on the outcome of the world’s largest survey into employer branding and is the only award which is truly representing ‘the people’s choice’. This extensive research surveys over 200,000+ respondents across different age groups, genders and educational levels, and covers 75% of the global economy.
CLP Power was named the most attractive employer in Hong Kong at the Randstad Award 2016. The annual award, which celebrated its fourth year in Hong Kong and its 16th edition globally, was held at the Asia Society on the 20th of April.