More than half of Hongkongers fear job loss
Employers must take proactive steps to ensure employee confidence about the future.
Over five in 10 (53%) employees in Hong Kong are worried they might lose their jobs, Randstad Hong Kong's 2023 Workmonitor in Hong Kong SAR survey revealed.
More than half (59%) of employees believe the city's economic uncertainties will impact their job security. On the flip side, 78% are confident that their employers will provide them with job security.
Economic uncertainties are also pushing employees to quit or resign. Data from Randstad showed that 49% of employees will quit their jobs because of low wages, whilst 29% will resign to search for better job offers to help them with the rising cost of living.
Benjamin Elms, Randstad Hong Kong's managing director, said employers must take proactive steps to ensure their employees feel confident about their future in an increasingly volatile job market.
"Offering clarity and transparency through open communication channels can help organisations promote a sense of security and better support their talent recruitment and retention efforts," Elms added.