Hiring Robust for Marketing, IT and Hotels, 60% Employees to Change Jobs: CTHR Salary and Employment Trends Survey – 1H 2015
With the unemployment low at 3.3%, many job opportunities are available in the market. A recent study conducted by Hong Kong Institute of Human Resources showed the turnover rate in Hong Kong last year was about 20%, indicating that job-changing is robust among the working force. The recently published CTHR Salary and Employment Trends Survey – 1H 2015 indicates a robust recruiting environment in the job market. About 40% of employers have hiring plans, with the average increase in headcount at 8.6%. Marketing, IT and hotel are the industries with the strongest hiring intentions. As for employees, more than 60% of have plans to change jobs: with the post-90s and post-60s generation having the strongest intent.
CTHR.hk, a subsidiary website under CTgoodjobs.hk for human resources professionals, interviewed 1,705 employees and 332 employers from 15 different industries through the online CTHR Salary and Employment Trends Survey – 1H 2015 from February to March. The objective of the survey is to gather information on employers' hiring intentions, as well as employees' salary adjustment expectations and job-changing plans.
40% Employers to Hire: Marketing, IT and Hotel Most Active
According to the survey, 40% of employers plan to recruit in 1H 2015, with the average increase of headcount at 8.6%. Simultaneously, expected turnover rate is 9.5% (approximately 1 out of 10 employees), which is 3% higher than the 6.2% in the first quarter of 2014.
More than 60% of employees are actively looking for jobs or planning to do so. The main reasons are the lack of promotion opportunities, lack of staff retention benefits and policies, and unsatisfactory salary adjustments. Each reason has around 30% of employees choosing it as the main reason for changing jobs.
Employees from the post-90s generation have the strongest job-changing intentions, with 69% of them either actively looking for a job or planning to do so. Contrary to common perception, the post-60s generation comes second at 64%, implying that such employees are not necessarily more "stable" than their younger counterparts. Employees of different age groups have different reasons for changing jobs. Post-80s and 90s value promotion opportunities and personal interest, while post-60s and 70s place more importance on salary and corporate values.
"Part Time" Becoming the Trend
16% of employers plan to recruit part time staff, which is 10% higher than the first quarter of last year (6%). Diane Chan, Executive Director of CTgoodjobs.hk, believes that such employment practice is becoming a trend in the job market. "The younger generation expects an all-round development. Full time or permanent jobs may not be able to meet their expectations," she pointed out. "The flexibility of part time and temporary employment types not only helps companies tackle staff shortage, but also meets such expectations."
Other Important Findings
- Around 83% of employers plan to increase / have already increased wages in the first half of 2015, at an average of 4.7%; the engineering industry offers the highest pay rise at 20%.
- 80% of employers plan to distribute / have already distributed year-end or discretional bonuses for 2014.
- 4% of employers plan to lay off employees, cutting 21% of headcount on average.
CTHR.hk was established in 2009. Its mission is to provide the latest market information for human resources (HR) professionals, including daily news, salary indexes, survey and research findings, case studies, employment laws and regulations, HR specialist blogs, and exclusive features.
Download CTHR Salary and Employment Trends Survey – 1H 2015 (PDF in English)
May 14, 2015
- 約83%受訪僱主計劃/ 已於2015年上半年向員工加薪；平均加幅4.7%；最高加薪達20%（來自工程界）。
- 8成受訪僱主計劃/ 已向員工發放屬2014年的年終獎金或花紅。
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