Nine in 10 firms lost staff members in H1

Higher salary is still the top reason why people are changing jobs.

Over 91% of Hong Kong firms revealed that they lost staff members in the past six months of 2023, with high pay being the top reason why people resign, a human resource (HR) firm, Morgan McKinley study showed.

The HR firm also found that 55% of businesses still plan to hire in the next six months.

On the candidate side, nearly 50% of professionals in Hong Kong plan to actively look for new jobs in the next six months. 

The poll indicated that Hong Kong workers were not happy with the benefits they received: 76% being ‘neutral’, ‘dissatisfied’ or ‘highly dissatisfied’ with their packages. 

Meanwhile, the top five benefits workers in Hong Kong need when looking for a job are: Bonus, work from home, health insurance, flexible working hours, and health and wellbeing support.

‘Higher salary’ remains the most valued reason for wanting to move jobs at 60%, followed by ‘career growth and development opportunities’ at 13%. 

Over 57% of professionals in Hong Kong are optimistic that they will receive a salary increase in 2024 and 47% of employers plan to increase salary offers in 2024 for certain in-demand roles.

The research gathered insights from 650 businesses and 3,400 professionals to understand their hiring processes and intentions for 2023.