3 in 5 Hong Kongers happy to keep role despite absence of growth: report

Specifically, Baby Boomers resonate with this preference.

Around 60% of Hong Kongers are content with their jobs even if there is no room for development, according to a survey by Randstad.

The 2024 Workmonitor research, which involved 751 locally-based employees and job seekers, revealed this despite 56% of the respondents saying they want to take on more managerial tasks. 

Randstad this preference for stability resonates particularly with Baby Boomers, with two in three saying they opt to stay in their roles as long as they are happy. Yet, 67% of them desire more managerial responsibility. 

This behaviour suggests a nuanced approach, which is wanting to hold onto their positions whilst seeking opportunities to learn and progress within their companies, Randstad said.

According to Randstad Hong Kong Managing Director Benjamin Elms, professionals these days are attuned to market trends, thus they are prioritising job stability. 

“They aspire to enhance their skills and enrich their experiences within their current roles, which presents an opportunity for employers to foster a culture of continuous learning. By embracing this ethos, organisations get to cultivate a more dynamic workforce, enhancing their ability to attract talent seeking growth opportunities,” he added. 

According to the report, 64% of respondents believe that it is the responsibility of employers to upskill their people. This is 22% higher than the global average. 

Moreover, 42% said they would leave their jobs or reject a new role if not offered training to future-proof their skills. This emphasises the importance of continuous learning programmes among employees as they seek more growth and exposure in their careers, Randstad said. 

Among the skills respondents wanted to enhance, the top choices were artificial intelligence, IT and tech literacy, and data science and analytics. 

Elms urged companies to prioritise upskilling efforts to remain competitive amid rapid technological evolution.

“Empowering and adapting employees to navigate emerging challenges, particularly amid the AI revolution, is paramount for driving growth and innovation,” he added.

The Randstad report also noted a potential gap in employer support concerning Millennials. It revealed that 46% feel comfortable discussing career progression with their employers.

Moreover, 58% of Millennial respondents said their employers help future-proof their skills, lower than 71% of Gen Z workers.

“Imbalance employer support for Millennials unveils a notable trend - a shift towards prioritising salary over career advancement,” the report said.

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Among generations, Millennials give the most importance to pay, Randstad said. Around 57% of them prioritise salary when considering current and future job opportunities.

“This focus on financial security is further emphasized by the fact that Millennials are also the most likely to resign due to low wages (48%). Millennials are also the least likely to feel their current job provides them with the pay they need to live the life they want (23%), compared to 40% of Baby Boomers who feel the same way,” the report said. 

Elms said this calls for employers to offer competitive compensation to drive productivity and foster loyalty.