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While Hong Kong’s employment markets continues to show positive signs of growth and remaining attractive to job seekers, candidates are still cautious about finding new roles – even thought many want to switch jobs – and asking for promotions.
The 2014/15 Michael Page Hong Kong Employee Intentions Report found employees in general expressed optimism with regard to available job prospects, with 55% indicating they are likely or very likely to change roles in the next 12 months.
Of those, professionals within the high growth digital sector made up the majority of job hoppers, with 75% expecting to switch jobs in the next year.
The high number of employees wanting to change jobs could have something to do with the fact that career development appears to be rather slow, with 63% saying they had not received a promotion over the past two years, and 66% indicating they’re not expecting one in the next 12 months.
However, 67% also revealed they’re not intending to ask for a promotion.
And despite the perceived availability of jobs in the market, Hong Kong job seekers still remain cautious about finding a new role with 62% believing it will be “too competitive”.
As for motivating factors for switching jobs, the biggest pull is a higher salary, with 40% of intended job hoppers hoping for a pay rise in a new position.
“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,” says Andy Bentote, managing director of PageGroup, Hong Kong and Southern China.
“We have also seen consistently stable recruitment activity across our Hong Kong offices which is likely to be sustained through the next 12 months.”