Hong Kongers asked: What makes an ideal employer?

More than 3 in 5 Hong Kongers sought “attractive salary and benefits” from ideal employers.

Around 62% of Hong Kong’s workforce agreed that “attractive salary and benefits” is the most important employee value proposition (EVP) in an ideal employer.

In 2021 Employer Brand Research that surveyed 2,603 respondents in Hong Kong, Randstad found the top 5 EVPs workers seek from their employers are:

1. Attractive salary & benefits (62%)
2. Work-life balance (60%)
3. Financially healthy (52%)
4. Job security (51%)
5. Pleasant work atmosphere (45%)

“After 2020, it is understandable that employees and job seekers have heightened their expectations and are giving more attention to their income and job security,” Randstad Managing Director of Search & Selection in Greater China Natellie Sun said.

“Based on our research, it is clear that there is no secret to winning the war for talent,” she said, adding that businesses, particularly those looking to employ talent in technology and life sciences are advised to match salary expectations to secure the best candidates.

Moreover, whilst work-life balance came in second, Randstad found that Hong Kong employers are still unable to meet workers’ expectation on this aspect.

In light of this, Sun said employers should ensure workers operate under a clear flexible work arrangement and undergo upskilling to equip them in the “next normal.”

Work-life balance is particularly popular amongst the younger generation as it ranked first in the top 3 EVPs of gen-Zers (66%) and millennials (63%); whilst salary and benefits topped the priorities of gen-Xers (61%) and boomers (73%).

The report also found that women and higher-educated employees value work-life balance more than attractive salary and benefits.

Randstad data also showed that 28% of the younger generation, gen-Zers and millennials combined, intend to switch employers.

“Even as more people look for new jobs, many employers struggle to find the right candidate, especially in highly competitive and technical areas like technology, financial services and property,” Sun said.

Between July and December 2020, 16% of Hong Kongers switched employers, lower than 21% recorded before the pandemic.