Despite the continued challenges from the pandemic, employers in Hong Kong SAR are more upbeat about business activity in 2022 and plan to hire more.
45 per cent of employers expect permanent staff levels to increase in 2022, based on findings from the 2022 Hays Asia Salary Guide, which compiles salary and sector overviews based on real data and a survey of skilled professionals across China, Hong Kong SAR, Japan, Malaysia, and Singapore. Over 9,500 responses were collected between October to November 2021.
Only 9 per cent of employers said they expect staff levels to decrease. Asked about real staff changes in the previous year, 26 per cent said staff levels decreased.
“Despite the continued challenges and ever-changing rules on restrictions, it is clear from the strong hiring appetite that businesses are determined to seize recovery opportunities this year,” says Sue Wei, Managing Director, Hays Hong Kong SAR.
However, compared to last year, skilled professionals in Hong Kong are less inclined to look for a new job. 29 per cent of respondents said they were actively looking for a new job, compared to 36 per cent in the previous year.
“People’s priorities have changed in recent years due to the pandemic. Salary package and work-life balance have consistently topped employee motivations when it comes to staying at their jobs, but this year, job security outweighed career progression for respondents.”
On the other hand, jobseekers placed extra emphasis on the search for a better salary package (81% in 2022 compared to 64% in 2021). Benefits like health insurance and allowances also became significantly more important to respondents (41% in 2022 compared to 28% in 2021).
Sue Wei adds, “Globally, millions of workers have been empowered to rethink how they want to live their lives and what they want out of their jobs after the pandemic. While compensation is still a high priority for candidates, they are becoming more discriminating about factors like benefits, flexibility, and work-life balance. Employers looking to hire in the coming months will need to re-evaluate how they approach these aspects of work in order to successfully attract and keep employees so they are on track for recovery and growth.”