Average staff turnover hit 10-year high of 17%

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According to a research from Regus, flexible working is often a make-or-break factor for local professionals in considering job offers.

Seventy-five per cent say they would choose one job over a similar one if it offered flexible working. In line with this finding, 75 per cent also believe that flexible working improves staff retention.

Here's more from Regus:

These findings should resonate in Hong Kong, with average staff turnover reaching a 10-year high of 17 per cent in 2012 (the last year for which figures are available) according to the Hong Kong Institute of Human Resource Management . With employee retention reportedly a priority for over a third of global businesses , the latest findings suggest that flexible working can reduce hiring costs, while at the same time helping to attract and retain top talent.

The survey, canvassing the opinions of more than 20,000 senior executives and business owners across 95 countries, confirms that, in Hong Kong, flexible working can be used to reduce employee churn and subsequent recruitment costs – 62 per cent of survey respondents say they would have remained in a previous job for longer if it had offered flexible working.

73 per cent of respondents say offering flexible working makes employees more loyal; 72 per cent of respondents say flexible working drives job applications from top talent; 56 per cent of workers would actually turn down a job that ruled out flexible working.

Mainland Chinese respondents' preference for flexible working was even more pronounced in some respects, with 59 per cent saying they would not even consider a job if flexible working was ruled out. Eighty-two per cent of respondents also said they would choose one job over a similar one if it included the chance to work flexibly.