Within the next year, more than 50% of public relations and corporate communications staff in Singapore and Hong Kong are looking to change jobs in the hopes of landing a larger salary.
This is despite being happy with the amount of work-life balance they have, as well as job satisfaction, according to a study by recruitment firm Prospect.
The study also found professionals want better paying jobs, but their salary expectations are much higher than the current market rates.
Almost 40% of respondents in Singapore would shift jobs for a 16-20% increase in pay, while in Hong Kong only 25% would move for that amount.
“Most employees can expect a ten to twenty percent hike when moving to a new position,” said Emma Dale, Prospect co-founder and managing director for Asia. “Employees expecting higher increases may end up staying in their current roles when they discover that new employers aren’t prepared to offer those amounts.”
The differences didn’t end there, however. When it comes to perceptions of work-life balance, more than 80% of professionals in Singapore said they think they have a decent balance, compared with 67% of respondents in Hong Kong.
“Traditionally we may have seen PR and Communications professionals remain in their companies for up to eight years before moving on,” said Dale. “However, in recent years we’ve seen a shift towards these professionals considering a move for a hike in salary despite being happy in their current role.
“It is often assumed that in Asia there is very little work-life balance, however this study has found that senior PR and Communications professionals feel they are juggling their professional and personal lives quite well overall.”
This could be because companies are beginning to offer staff more reasonable working hours. However, a different study found white collar professionals in general are working more than 61 hours per week.
So, how can PR agencies and other companies retain their communications staff?
“We advise our clients who are recruiting senior talent to ensure that they are offering attractive salary packages and a clear career path when interviewing candidates. This is critical to attract talent in today’s highly competitive job market,” said Dale.
“At the same time, employers have to accept that senior professionals are staying in a job for a shorter amount of time, and may need to create incentives to try to entice employees to stay longer with their organisation.”