Hong Kong’s employment market continues to display positive signs of growth and remains highly attractive to jobseekers according to both the 2014/15 Michael Page Hong Kong Employee Intentions Report and the latest Manpower Employment Outlook Survey (MEOS).
More than one in five (21%) of the 815 employers surveyed by Manpower expect to increase staffing levels throughout Q4 this year, while only 5% forecast a decrease and 71% anticipate no change at all. The most optimistic hiring plans are reported in the finance, insurance and real estate sectors, with employers reporting a net employment outlook of +18%.
According to the Michael Page report, employers in high growth sectors, particularly digital, will have the opportunity to tap into the talent pool with the predicted high level of job seeking activity indicated by respondents in these sectors. The report reveals, however, that while some employees express optimism with regard to available job prospects, many remain slightly cautious in their view towards finding a new role. Just over half (55%) of survey respondents indicate that they are likely or very likely to change roles in the next 12 months, with professionals from the digital sector making up the largest group of survey respondents who expect to change roles within the next year (75%).
An increase in salary is the top motivating factor for professionals looking for a new job (40%), an 11% increase compared to the 2013/14 Hong Kong Employee Intentions Report results. A large proportion of respondents (63%), however, state that they have not received a promotion in the past two years, while 66% indicate that they are not expecting to receive one within the next 12 months. The issue of work/life balance has once again come under the spotlight with almost half (45%) of respondents stating that their average working hours have increased or significantly increased.
Commenting on the findings, Andy Bentote, Managing Director, PageGroup, Hong Kong and Southern China said, “Jobseekers and employees continue to display confidence in Hong Kong’s professional employment market and this is outlined by strong salary expectations and jobseeker intentions in the report. We have also seen consistently stable recruitment activity across our Hong Kong offices which is likely to be sustained through the next 12 months.”
Paul Arkwright
Publisher
