90% of Hong Kong employers are currently concerned about a mass exodus of finance and accounting staff in light of the improving economy, according to results just released from Robert Half’s 2010 Workplace Survey. The survey was conducted between January and February 2010 and included 1281 HR, finance and accounting professional in four markets. A total of 310 professionals were interviewed in Hong Kong.
With these staff moves imminent, employers face dramatic changes in the workplace, and local employers are being urged to embrace change and consider retention plans to reduce voluntary turnover which could affect the bottom line. Andrew Morris, Director, Robert Half Hong Kong said, “Companies need to make a pre-emptive strike now to hang on to key staff. Keeping top talent committed to the company requires a comprehensive retention strategy and tailored career development tactics that goes beyond financial rewards.” He added, “Job advancement, recognition, leadership and support are key aspects in enhancing employees’ morale and overall job satisfaction which can in turn maximise their loyalty. To stay competitive, companies must invest in training opportunities and take an interest in staff’s career goals.”
The survey results illustrated that the majority, a shade over 70%, of Hong Kong professionals believe that they will receive a better salary working at a different company. 59% of respondents also believed that the most important factor to consider when changing jobs is opportunity for career development. However, higher pay and better benefits are not the only reasons for voluntary staff turnover. According to the survey, one of the top reasons that drive employees to look for a new job is that they feel that there are no opportunities for progression at their existing firm.
The survey also indicated that over half of respondents who claimed not to be looking for a new job also stated that their company focused on their career development throughout the recession and that they felt well looked after by their company.
Paul Arkwright
Publisher
