Competition intensifies for top talent in Hong Kong

• 87% of employees consider the current job market to be strong or very strong
• 38% of professionals are very likely to move roles within six months
• Most respondents cite career progression as the key motivator to change roles

Employers in Hong Kong must act quickly to secure top talent in the booming jobs market, according to the new Michael Page Employee Intentions Report.

Some 87% of employees surveyed in Hong Kong consider the current job market to be strong or very strong. This is already translating into an increased rate of attrition, with some 38% of respondents saying it is highly likely they will take a new role in the next six months.

“Employees are extremely confident about making their next career move due to the extensive range of job opportunities available. The best candidates are looking for their next role now and already have multiple career options to consider. Employers need to act quickly to take advantage of this opportunity and position themselves as an employer of choice,” said Mr Anthony Thompson, Managing Director of Hong Kong & Southern China.

Almost half of the employees surveyed (42%) rated the opportunity for career progression as the most important factor when choosing a new role. An increase in salary was the second most influential factor (24%) for respondents when deciding to change jobs. To make the move to a new company, most employees are looking for an increase of more than 15% on their base salary.

“The competition to secure new talent is fierce and the best candidates will not remain in the job market for long. It is critical for employers to have a strong understanding of what they have to offer and a have a variety of smart attraction strategies in place. Companies that can offer competitive remuneration and structured career development opportunities will be in the best position to attract top talent,” said Mr Thompson.