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January and February are the peak months for Hong Kong workers to hand in their resignation and it’s no secret that local employees are looking to move on. The 2016 Michael Page Greater China Employee Intentions Report revealed two out of three Hongkongers are likely or very likely to change jobs in the next 12 months.
So why are they so eager leave their job? Here are the top five issues driving staff to leave for greener pastures, as shared on cpjobs.com.
1. Boring job
While most employees understand that coming to work is not all about having fun, daily routine work is leaving many workers uninspired and unmotivated. In other words, they feel like they are a machine when they come to work.
Bringing new elements and challenges to the job on a regular basis is very important in retaining talent in today’s workplace.
2. Lack of progression
Employees who have been with a company for more than two years are becoming increasingly harder to come by nowadays. Some managers might feel that giving someone a promotion after only a couple of years is ridiculous, but this seems to be what employees want. If you don’t promote them, employees will look elsewhere for a job that does not necessarily offer a lot more money, but has a a higher title.
To cope with this desire for promotions, some organisations have begun to add more titles to their corporate ladder – not a bad way to retain talent who are only looking for “advancement”.
3. Feeling underappreciated
Young employees feel like they could do more, but the boss thinks they are not ready yet: It’s a common struggle in offices across industries. But in some cases, welcoming young people to the driver’s seat is a great way to motivate and retain them.
For example, Towngas this year has put the recruitment of the 2017 graduate trainees in the hands of the 2016 graduate trainees. By letting young people take the lead and having senior management take an advisory role, the recruitment process is highly successful and the young employees are highly motivated by being handed such an important task.
4. Impact of the start-up culture
More and more people are looking to start their own business. It is a fact that finding steady employment at a reputable organisation may no longer be the number career goal for young people. Instead, they want to be their own boss.
5. Generation gap
Every generation has their own way of thinking and of doing things. They key to reducing tension is to compromise.
It is a cliché, but the right way to retain talent is to communicate with them and put yourself in their shoes to understand what is best for them. Otherwise, your hiring department will be busy all year round.
Want to learn the latest talent acquisition techniques?
Don't miss Recruitment Asia, the region's dedicated recruitment and talent acquisition strategy conference.
Happening Oct/Nov 2017 in Kuala Lumpur, Singapore and Philippines.