Changing employee demands in the past years have remained largely unmet by Hong Kong SAR employees. According to research conducted by recruitment firm Randstad, Hong Kong SAR employers lagged behind organisations in both Singapore and Malaysia.
This was revealed in the Randstad Award 2016 survey research results, which compared the attractiveness factors that were important to Hong Kong SAR employees versus the key attributes companies scored well in. These attractiveness factors are facets of an employer brand which are crucial when talent are deciding to leave for a new company or stay.
the rising importance of good work-life balance
Work-life balance has risen significantly in terms of ranking, from 35% to 50% between 2014 and 2016 to tie in second place with pleasant working atmosphere. The results show that employers have not managed to address the rising importance of good work-life balance as respondents have highlighted that companies scored the least well in this area.
Job seekers focus on the top ten attractiveness factors, but these factors change when the candidates are asked what would make them stay or leave the company they are currently working for. Good work-life balance was highlighted by 45% of all respondents as a major factor that would make them stay at their company. Additionally, 59% of employees in Hong Kong SAR said they would leave their jobs due to a lack of adequate remuneration.
Ms Natellie Sun, Managing Director of Randstad Hong Kong noted, "It is surprising to see that the Randstad Award research continues to show such a large gap between the demands of employees and employer offerings. Salary & employee benefits and good-work life balance are key factors in both attracting and retaining the best talent, yet Hong Kong SAR organisations have continued to score low in these areas. However, these results are an average, and organisations with a strong employee value proposition can leverage their higher attractiveness to pull in the best talent in Hong Kong SAR.”
The Randstad Award is based on the outcome of the world’s largest survey into employer branding and is the only award which is truly representing ‘the people’s choice’. This extensive research surveys over 200,000+ respondents across different age groups, genders and educational levels, and covers 75% of the global economy.
CLP Power was named the most attractive employer in Hong Kong SAR at the Randstad Award 2016. The annual award, which celebrated its fourth year in Hong Kong SAR and its 16th edition globally, was held at the Asia Society on the 20th of April.
about Randstad Award Hong Kong
Celebrating its 4th anniversary this year in Hong Kong SAR and its 16th edition globally, the Randstad Award is presented each year to the most attractive employer in 25 markets across the globe. It is based on the outcome of one of the world’s largest independent survey into employer branding, covering over 200,000 global respondents and 75% of the global economy.
The outcome of the Randstad Award is based on public perception and focuses on three main areas: overall brand awareness, absolute attractiveness and relative attractiveness. This creates a level playing field for all competing companies instead of giving an advantage to large multinationals with higher name recognition than smaller companies.
This award is not open for nomination and the results are based solely on the opinions and votes of the local workforce – making it the only award that is truly representing ‘the people’s choice’.
The 75 largest companies are selected in each participating market, usually with more than 1,000 employees. This list is presented to a representative cross section of relevant respondents based on region, age and gender. In Hong Kong SAR, over 5,400 employees and job-seekers between the ages of 18-65 were surveyed. These respondents were asked to identify companies they recognize and indicate if they would like to work for them. This is then followed up with an evaluation of attractiveness factors, such as salary, benefits, work atmosphere and job content, for each of the companies.
Randstad is one of the world’s largest recruitment and HR services providers, on a mission to help shape the world of work. With Asia Pacific operations spanning across Hong Kong SAR, Singapore, Malaysia, China, Australia and New Zealand, Randstad continues to help organisations recruit the best talent. Randstad Hong Kong specialises in permanent and contract recruitment, placing high calibre mid to senior level professionals in companies across key industry sectors in accounting & finance, banking and financial services, construction, property and engineering, IT, and sales & marketing.