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The number of employees looking to change job in Hong Kong has fallen -22.8% since the start of the year to 34.4%, according to a half yearly report by recruitment agency Ambition. Only 16.1% would consider transferring within their current company. The majority of respondents would search using recruitment firms; ahead of networking, online job boards, and LinkedIn.
The reasons for moving are primarily due to not having clear career progression (38.8%) and dissatisfaction with current salary (20.3%). Not fitting in with the company culture and poor relationships with management also elicited strong responses, with 16.8% and 15.6% respectively. Salary and benefits ranked top and second for both employees and employers as key to retaining and attracting staff.
Of the 39% of employees who responded that their current remuneration is below the market standard, two-thirds of them were junior managers and staff listed below them. On average, 74.6% of employees in Hong Kong earn between HKD 50,000 (USD 6,444) and HKD 99,000 (USD 12,760). 10% of employees earn more than HKD 100,000 (USD 12,889) and 15.4% earn less than HKD 50,000 (USD 6,444).
Global employment opportunities remained attractive, with 69% of employees willing to relocate to further their careers. Of those willing to relocate, 67% indicated that they were likely to do so within the next six months.
There are signs of positivity in the employment market, with only 16.4% of employees expecting businesses to contract further, down from 18.3% at the beginning of the year. Nearly half of employees (48.5%) and 61.6% of employers are optimistic about possible business growth for the remainder of 2013.