Employee turnover in Hong Kong reaches record high

Retail had highest employee attrition in 2012.

The 2012 full year Survey on Manpower Statistics by the Hong Kong Institute of Human Resource Management (HKIHRM) shows that average staff turnover reached 17% in 2012, the highest since 2003.

The 17% level means 17 employees in a company with 100 employees left their jobs in 2012. The number was also a big jump from the 14.5% staff turnover rate in 2011.

The top two sectors with the most turnovers were retail (35.6%) and restaurant/catering (34.9%).

For the first quarter of 2013, 55.1% of firms said they would continue hiring at Q4 2012 levels. Over a quarter (29%) said they would increase hiring.