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Katrina Chui
Hudson
(852) 2919 6184
katrina.chui@hudson.com

Media Release

 

HIGHER SALARY STILL TOP PRIORITY FOR HONG KONG JOB SEEKERS, BUT WORK LIFE BALANCE IS CLOSING THE GAP

New report from Hudson highlights increasing complexity of attracting and finding top talent

Hong Kong – 4 March 2015 – Higher salary is the top priority for Hong Kong job seekers in 2015, according to new research from leading recruitment specialist Hudson. But work life balance and cultural fit are not far behind, in a list of the top nine attributes professionals look for in a new role.

Hudson’s 2015 The Hiring Report: The State of Hiring in Hong Kong 2015, which surveyed more than 243 professionals and hiring managers across Hong Kong, found a higher salary is the top priority for professionals (69% of respondents named it their number one priority). Combined with better benefits at 52% (number three on the list), it shows that compensation is a key influencer for job seekers today.

“The number one motivating factor for Hong Kong professionals today is still money. It is essential for employers to get the basics right: to ensure their salaries and benefits packages are competitive with what the rest of the market is offering,” said Hudson Asia Managing Director, Tulika Tripathi.

The Top 9: What Hong Kong job seekers are looking for in a new role in 2015
1. Higher salary
2. Work life balance (including flexible arrangements)
3. Better benefits
4. Cultural fit within organisation and/or team
5. Career progression/training opportunities
6. A company whose values are closer to mine
7. Better job title
8. Strong manager
9. Better brand
69%
56%
52%
51%
50%
29%
26%
26%
25%

Work life balance emerges as key priority

Work life balance has emerged as the second key priority for Hong Kong professionals, with 56% choosing it as a top priority when seeking a new role. The appearance of work life balance so high up the list demonstrates the increasing importance Hong Kong candidates are placing on achieving an optimal balance between work and family life.

“Work life balance is becoming increasingly important globally and we are finally seeing this sentiment come to the fore here in Hong Kong. Hong Kong professionals want flexibility in their work so they can fit in vital parts of their life: family, home commitments and leisure,” said Ms Tripathi.

Cultural fit has also entered the top five priorities in 2015, with 51% of job seekers in Hong Kong today identifying it as a key consideration, slightly ahead of career progression at 50%.

Sourcing and attracting talent a complex game

According to Hudson, professionals in Hong Kong are highly open to being approached about new job opportunities.

“Today in Hong Kong, 88% of professionals are open to being approached about a new job opportunity, 82% have an up-to-date CV and almost half (48%) have an up-to-date LinkedIn profile. Employers should sit up and take notice – that’s a big passive candidate market but also a potential employee retention risk,” said Ms Tripathi.

Yet while employees may be open to being approached about new opportunities, finding and attracting the right talent is becoming increasingly complex, requiring both a competitive employee offering and a multifaceted sourcing strategy. The scarcity of talent is recognised by hiring managers, with 90% acknowledging they need to look beyond active job seekers to find the right candidate.

According to the report, online job boards are today seen as the most effective sourcing strategy for Hong Kong hiring managers, with 44% naming them their most effective channel. Recruitment agencies came second, with 36% of hiring managers naming them as a highly effective sourcing channel. Head hunting came third at 31%, followed by personal networks and internal referral schemes at 25% each.

What these results point to is that while digital channels are opening up new ways of sourcing candidates, recruitment in Hong Kong still remains firmly based on people and their networks.

“This report clearly conveys that great hiring is about people and it’s about using multiple channels – from personal networks to recruiters to social media,” said Ms Tripathi.

Other key highlights of the report include:

  • Over 1 in 3 hiring managers (36%) look to social media when evaluating a candidate. With 69% of professionals comfortable with their online footprint, there is still a large proportion of candidates who could consider being more mindful with social media activities
  • Psychometric testing is on the rise as the risks of a bad hire become more serious. 42% of Hong Kong senior executives value testing as part of the recruitment process
  • The nature of writing job ads has changed forever. 86% of Hong Kong hiring managers now use keywords to ensure their job advertisements have the best chance of being found

-ENDS-

Editor Note

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About Hudson

Hudson is a global talent solutions company with expertise in leadership and specialised recruitment, recruitment process outsourcing and talent management solutions. We help our clients and candidates succeed by leveraging our expertise, deep industry and market knowledge, and proprietary assessment tools and techniques. Through relationships with millions of specialised professionals in nearly 20 countries, we bring an unparalleled ability to match talent with opportunities by assessing, recruiting, developing and engaging the best and brightest people for our clients. We combine broad geographic presence, world-class talent solutions and a tailored, consultative approach to help businesses and professionals achieve higher performance and outstanding results. More information is available at hudson.hk.

Forward-Looking Statements

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