A study from jobsDB has shown that while salary and compensation remain the most important factor for Hong Kongers considering new jobs the picture is changing fast with work/life balance coming in a strong second. JobsDB’s study Laws of Attraction offers an in-depth analysis of what attracts local candidates to a job. The report is based on the largest recruitment study in Hong Kong covering nearly 6,000 job seekers across 20 industries. The result shows that 13.1 per cent of respondents considered “Work/life Balance” the main consideration for joining a company, closely following “Salary and Compensation” (20.1 per cent). “Career Development Opportunities” (10.3 per cent) is only the third most important factor for respondents, indicating that employees have a strong desire to achieve a balance between both professional and personal lives.
“Over the years, we have seen a number of recruitment challenges, especially when it comes to attracting and retaining talent,” said Isaac Shao, Country Manager of Jobs DB Hong Kong Limited. “An increasing number of employers are looking to understand different behaviours and expectations of candidates, in order to create better people strategies and improve decision-making. Hence, our Laws of Attraction interactive portal will provide hirers the key data and the insights they need to build and maintain a capable and passionate workforce in a changing company,”
The study also found that nearly 60 per cent of respondents believe that following public holidays (59.6 per cent) and a five-day work week (59 per cent) are the most essential working conditions. In addition, 43.8 per cent of respondents think that they receive overtime pay or days in lieu for overtime work, while 32.7 per cent think regular working hours without overtime work is key to them feeling satisfied in their role.
Local employees are not willing to work shifts. Some 59.5 per cent of respondents will not consider the job if shift work is required, while 30.7 per cent will decline an offer if it involves frequent travel. In fact, local employees are less likely to choose jobs that are based outside of Hong Kong. More than half (52.4 per cent) of respondents are reluctant to be based in Southern China (including the Greater Bay Area) or other commercial cities (55.2 per cent) in mainland China, and 32.1 per cent do not want to stay overseas.
In terms of industry, those working in Education & Training (15.1 per cent) and Accounting/ Audit/ Tax (14.3 per cent) are the most eager for work/life balance.
“According to the Hong Kong Government’s Report on Manpower Projection to 2022, the labour force will start declining in 2022. This trend, combined with aging manpower and the city’s long-term low unemployment rate, will force local employers to deepen their understanding of employees’ workplace attitudes and needs. For example, employees have clearly expressed their desire for work-life balance and employers should not neglect this. Employers need to integrate work-life balance into their recruitment and retention strategies, in order to attract passionate talent and remain competitive,” adds Shao.