Hong Kong Workers Are Willing to Accept Lower Pay in Exchange for More Benefits

June 8, 20178:53 am670 views

Hong Kong’s working professionals operate in a fast-paced employment market, and ambitious professionals are continuously seeking to increase their income. Yet new independent research commissioned by specialised recruiter, Robert Half shows many Hong Kong workers are willing to sacrifice higher pay for a better work-life balance.

With 72% of Hong Kong workers saying they are motivated by more than just pay, the 2017 Robert Half Salary Guide has found many Hong Kong employees consider work-life balance options to be more attractive than higher pay.

Almost half (42 percent) of Hong Kong workers would accept less pay in exchange for flexible working hours, and almost four in ten (39 percent) would prefer the option to work from home over a salary increase.

Non-financial benefits are a clear motivator for Hong Kong workers, as one in three (30 percent) would accept a lower wage in return for more medical benefits, and more than one quarter (27 percent) would prefer an increased holiday allowance.

See: Hong Kong’s Financial Services Sector Using Multi-Pronged Approaches to Attract Millennial Talent

Adam Johnston, Managing Director at Robert Half Hong Kong said: “Hong Kong’s professionals are ambitious, and are willing to go above and beyond to earn more pay. However, despite the fact that a competitive remuneration package is still the main incentive in any role, there’s a growing trend of Hong Kong workers prioritising other benefits that positively impact their work-life balance.”

Flexibility in the workplace has become increasingly important as it contributes to a satisfied, motivated, productive and loyal workforce. Non-monetary benefits such as flexible working hours, additional holidays and the option to work from home are becoming highly sought-after by Hong Kong’s working professionals.

“In order to attract and retain the best employees, companies need to offer more than just a competitive salary. The ongoing war for talent will only reinforce to employers the need to diversify their incentives offering to include more work-life balance initiatives,” concluded Adam Johnston.

Also read: Top 10 Finance and Financial Services Roles in Hong Kong Set for the Biggest Salary Gain in 2017

Image credit: freedigitalphotos.net

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