Living in one of the most expensive cities in the world you might expect salary to be the primary motivator for Hong Kong professionals to change jobs. Not according to Robert Half’s latest 2018 salary guide.
In fact, according to the survey conducted among 500 job seekers in Hong Kong, work-life balance was found by over a quarter of respondents to be the primary reason to change jobs (27%) followed by career development (20%) and financial rewards (19%). Another 15% highlighted management/leadership and 8% said co-workers as being the primary reason why they would leave their organisation.
“We’re gradually seeing a shift in employee preferences within the Hong Kong employment market as many professionals are increasingly prioritising and focusing on non-financial incentives outside of pay,” said Adam Johnston, managing director of Robert Half Hong Kong in a press release.
“Hong Kong employees are gradually realising the value of additional benefits, such as flexible work hours and professional development opportunities. These benefits are in demand, particularly by millennials who often tend to value career progression and the chance to develop their skill set higher than financial incentives.”
The report also turned up the following results
- 96% of Hong Kong CFOs have staff retention policies in place, with flexible working opportunities being the most popular initiative (45%).
- 97% of CFOs in Hong Kong plan to award an average of 18% of their finance staff with a pay rise this year, with the average salary increase expected to be 7%.
- Top three finance positions in demand in 2018 are: Financial Planning & Analysis Manager, Financial Reporting Manager, and Accountant.