Work-Life Balance is also a concern for Hong Kong Employees
Very recently, Randstad released its annual employer brand research report. It spoke to 4,925 Hongkongers between the ages of 18 and 65 – and guess what, it tells us a lot.
The report provides good insights into employees and job seekers’ career motivations. According to the research, work-life balance is one of the most important employee value proposition driver.
1.Work-Life Balance, one of the most important factors
“Our research has confirmed the rising importance of enabling better work-life balance for employees and promoting these initiatives and policies to attract talent. With Hongkongers placing near equal value on work-life balance as they do on attractive salary and benefits, it is critical that companies offer progressive work-life balance policies that strongly resonate with employees,” said Natalie Sun, managing director at Randstad Hong Kong.
We’ve written an article on what makes Millennials happy at work and speaking of work-life balance desires, it rings a bell. Hongkongers are looking for more “freedom” as it is crucial for their happiness and wellbeing. Millennials are obviously not the only ones to value it so much. This balance can translate into more flexibility and opportunities to work remotely. This so-called flexibility is often discussed these days.
2. Attractive Salary and Benefits
Besides the importance of work-life balance, 6 in 10 Hongkongers ranked “attractive salary and benefits” as the most important employee value proposition driver from their employer.
Generally speaking, here are the top five reasons why employees are planning to leave this year:
- Limited career path (41%)
- Work-life balance issues (35%)
- Insufficient compensation (34%)
- Insufficient challenges (33%)
- Lack of recognition or award (28%)
Furthermore, the research sheds light on the fact that Hongkongers need to stay competitive. Companies are drastically changing from a digital perspective, which results in important business restructuring. From an employer standpoint, Hongkongers need to stay open and flexible to stay employable. They need to adapt to the latest changes and consider upskilling, or even, willingness to switch career. Be it from an employer or an employee side, we are going through a lot of changes and times are not necessarily easy. But both ends of the spectrum need to be prepared.