The five most attractive benefits for employees in Hong Kong are healthcare (75%), additional vacation benefits (74%), flexible working hours (71%), work from home (66%), and group life insurance (59%), according to Randstad’s Employer Brand Research March Report 2020.
Despite overall consensus on the top five most attractive benefits, each generation — Gen Z, Millennial, Gen X and boomers — have markedly different preferences towards certain benefits.
A total of 80% of Gen Zs find flexible working arrangements to be the single most attractive employment benefit compared to other generations, while more than one in three Gen Zs is currently seeking flexible working arrangements with an employer. They also list travel insurance as the fifth-most attractive benefit.
The majority of the Millennials consider both additional vacation benefits and healthcare as the top non-monetary employee benefit. About 60% of them also find childcare services and support attractive, which is significantly higher when compared to Gen Z, Gen X and boomers.
In addition, 20% of Millennials also think that an ideal employer should have good quality products and use the latest technology (16%), which is not as important for the other generations.
For workers aged 35 or above, healthcare is ranked as the most attractive benefit.
A total of 54% of Gen Xs find a cafeteria plan or subsidised meals appealing, while 48% of boomers cited the opportunity to buy company shares attractive an employment benefit.