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Just under of three quarters (71%) of local employees are currently looking for new job opportunities, hinting at an active job market this year.
According to Hudson’s Salary & Employment Insights 2014 report, 40% of workers switched jobs in the past two years, with 68% of them indicating they left their role because of a poor manager.
A bad manager is also the reason 63% of those looking for a new job are planning to resign, highlighting the need for better leadership this year.
“It’s clear that strong leadership impacts engagement, driving productivity and increased employee retention,” Andrew Tomich, executive general manager of Hudson Singapore, said.
“This is something that should not be ignored, particularly in a climate where there is increasingly high potential for movement within the workforce.”
The report listed the top qualities respondents are looking for in their leaders as being inspiring and a role model (28%), supportive of staff (11.8%), a wise decision maker and someone who can create a compelling vision (11%), as well as someone who recognises good performance (10.5%).
Hudson also revealed anticipated salary trends for 2014; 86% of 1,292 employees surveyed expect an increase in salary, with a fifth wanting an increase north of 10%.
Additionally, 39.5% of organisations expect to increase headcount in the first quarter of this year, adding to cost pressures companies are already reporting to face. A majority of employers surveyed said they will be increasing salaries between 3% and 5% this year, with the biggest reason for awarding a pay rise being retention of high performers.
The results also showed salary remains king this year; 43.3% of respondents said it would be the most important factor to consider not only when thinking about switching jobs, but also when deciding if they should stay.
The most important benefit for employees was flexible working hours (36.9%), increased annual leave (29%) and valued private health insurance (28.4%).
“Those organisations that don’t invest in their workforce, both in terms of remuneration and effective leadership and mentoring, put themselves at risk,” Tomich said.
“We could well see growing separation between successful and less successful organisations, primarily influenced by their attention to, and investment in, correctly resourcing their business and developing their staff.”