• 35% of respondents who switched jobs in the last 6 months of 2023 successfully found jobs through recruitment agencies, 10% increase from the year prior. 
  • 41% of potential job switchers in 2024 said that they are partnering with recruitment firms. 
  • The pursuit of a better work-life balance is the top reason why Hongkongers are looking for new employers. 

Job mobility is on the rise in Hong Kong, as 32% of respondents plan to change jobs in the first half of 2024, with millennials showing the strongest desire for a career shift at 37%. 

With 12 years worth of data collected over the years from our Employer Brand Research, we are able to analyse how workforce priorities have shifted. While good pay and benefits were once the main focus, today’s job seekers crave stimulating and fulfilling experiences. To bridge this gap, companies need to understand individual employee goals and aspirations, and curate personalised work experiences.

2024 employer brand research report registration link
2024 employer brand research report registration link

While 26% of bachelor’s degree holders intend to change jobs in the first half of 2024, this number jumps to 34% for those with master’s degrees or higher.

Our latest research reveals a growing demand for skilled professionals, prompting higher-educated talent to be more active in their job search. Companies aiming to achieve their business goals need to attract and retain the right talent by providing a holistic and positive work experience. This includes offering competitive compensation, clear opportunities for career development, and a commitment to fostering an equitable and inclusive work environment.

1 in 3 found jobs successfully through recruitment agencies 

Job board engines are still the most popular choice for job hunting. Of the 24% of respondents who found jobs in the last 6 months of 2023, 45% said that they used job boards. 

Recruitment agencies are experiencing a resurgence, with 35% of successful job seekers crediting recruiters for their new jobs, up 10% from the year prior. As for the 32% who are looking for a job this year, 41% said that they are partnering with recruitment agencies.

Job Seekers in Hong Kong Work with Recruiters to Find Jobs
Job Seekers in Hong Kong Work with Recruiters to Find Jobs

Specialised recruiters serve as trusted partners, guiding talent through their career journeys. In today’s job market, which is inundated with online postings and advertisements, candidates highly value personalised insights and guidance. Rather than having to search for this information online, they appreciate recruiters who provide it directly. As talent partners, we bridge that gap by providing access to hidden opportunities, company culture insights and salary negotiation support.

improved work-life balance policies may be leading employees to re-evaluate job changes

When asked why respondents are leaving their jobs, 32% said that they want to improve their work-life balance. Salary comes in second, as the rising cost of living is pushing 28% of respondents to seek higher paying jobs. Lack of career growth remains a concern, with 26% seeking new opportunities for career growth.

Employees Quit To Find Better Work Life Balance
Employees Quit To Find Better Work Life Balance

However, upon comparing the data to the previous year, it is found that while work-life balance continues to be the top reason for job changes, it has declined by 10% compared to last year.

It is possible that the workforce has experienced improvements in their work-life balance, which can be attributed to more inclusive company policies, shifts in workload distribution within their organisation, and personal adjustments. As economic conditions improve post-COVID and in this new normal where work-life balance support has increased, talent may feel less pressure to prioritise work-life balance over other factors such as salary or job security.

gen zers attracted to perks and flexible work

When looking for new jobs, the younger generations are more motivated by benefits such as shorter commuting time and perks like company discounts and smartphones. Gen Zers are particularly drawn to flexible work options, with 24% motivated by this factor, compared to an average of 14% among other generations.

Gen Zers Attracted To Flexible Jobs
Gen Zers Attracted To Flexible Jobs

Digital natives prioritise work-life balance and desire employment flexibility and ease. Their upbringing in a constantly connected world has ingrained in them a drive for better time management and a preference for remote work options that reduce commuting time. Furthermore, tech-savvy workers also value company benefits that cater to their digital lifestyle, such as discounts on relevant products and services or access to cutting-edge technology like smartphones. These benefits contribute to the total value proposition that an employer provides.

register early interest: 2024 employer brand research report 

Randstad - the world’s largest talent company - today revealed early findings of its 12th annual Employer Brand Research in Hong Kong SAR. Conducted by Kantar TNS in January 2024, the study surveyed 173,000 respondents around the world, including 2,689 individuals in Hong Kong SAR, making it the world’s most comprehensive employer branding research based on general audience perceptions. 

The Employer Brand Research is the world’s most comprehensive and in-depth research. The full research report from the survey that includes data on employee value proposition as well as attitudes towards AI developments and equity will be released by Randstad Hong Kong on 26 June 2024. 

You can click here to register early interest and be one of the first ones to receive it in your mailbox. 

connect with us for your talent needs

At Randstad, we conduct comprehensive market research to uncover talent insights and trends to support employers in developing and executive talent attraction strategies to find top talent in Hong Kong. 

Connect with our specialist talent consultants for the latest talent trends and job market insights, or to help you find skilled talent in Hong Kong to boost your organisational growth and innovation. 

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