7 of 10 Hongkongers priotise compensation in career choice: Randstad
Non-financial employee benefits were found rarely considered.
Human resources solutions agency Randstad found 73% of Hong Kong respondents prioritise compensation and benefits as the most crucial, according to the bi-annual Workmonitor survey.
Other findings showed only 30% deemed working for a respected and caring employer as an important consideration, 29% care about having meaningful work, and 13% consider the work environment as a factor when making career decisions.
Managing director of search and selection, Natalie Sun, commented, "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."
More than one in two respondents reported being unhappy working for their current employers, and 36% have changed jobs in the past six months.
Two in three respondents feel unfairly and insufficiently rewarded for their current skillset and are motivated to look for another job. If given the opportunity, 65% would consider a role from a company outside of Hong Kong if they can perform the job locally. This view is more pronounced among the younger generations, with 69% aged between 18 to 24 open to the opportunity.
"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," Sun added.
More than eight in 10 respondents said that 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.