The eFinancialCareers 2012 Movement Survey revealed that of the 653 Hong Kong-based finance professionals surveyed, over 82% have no intention of leaving Hong Kong in 2012. A similar proportion also said they would recommend Hong Kong as a place to live to other finance professionals. When asked about the best things about living in Hong Kong, financial professionals cited safety, a favourable taxation system and greater job opportunities. Furthermore, when compared to their counterparts in the APAC region, Hong Kong finance professionals are the least likely to move or consider moving countries by the end of 2012.
China insufficient pull
The survey also revealed that over 8 in 10 Hong Kong finance professionals are not considering relocating to Mainland China despite its increasing regional prevalence. George McFerran, eFinancialCareers Managing Director, Asia Pacific remarked, “Those who do choose to take their careers to the Mainland are well-positioned to take advantage of those opportunities.”
Other industries tempt talent
Although Hong Kong’s finance professionals wish to stay in the city, 50% of respondents are considering a change of industry since the large bonuses that once attracted them are no more whilst the stressful conditions and long hours remain. Over 4 in 10 believe sectors outside financial services offer more job opportunities, and 22% cited greater remuneration packages on offer. The top industries finance professionals are looking to transition to include hardware and software technology, media and advertising, and travel and tourism. In order to retain top performers, finance firms will need to provide employees with a well mapped out career path and opportunities to grow or try different job functions that will help advance their careers in the long term.
Paul Arkwright
Publisher
