Hong Kong employers at risk of losing staff in next six months

Unless, they offer higher salaries. 

About 60% of employers in Hong Kong are at risk of losing their staff in the next six months as workers seek higher paying jobs, Morgan McKinley found. 

In its 2023 Salary Guide, Morgan McKinley found that of the 60% workers planning to switch jobs, 45% wanted a higher salary, whilst 17% were after growth and better opportunities. 

“2022 was another year of high demand to hire but short supply of talent in Hong Kong, across most sectors. We see this increased level of demand stabilising in 2023, as clients will pay close attention to the economic climate,” Robert Sheffield, Managing Director of Morgan McKinley Hong Kong & Greater China, said.

“Despite this, we expect Technology and IT to be a growth area, specifically around digital banking, CDCs and Cyber Security. It’s also likely that, with demand outweighing the supply of permanent talent, the recruitment of contractors will be evident.”

Read more: Job switchers in property, engineering industry expect up to 25% salary increase

The survey also found that 65% of employees expect an increase in their salary this year, whilst 71% expect some form of bonus. 

More than half of employers have already increased salaries in the past 12 months.