Four in five (83%) Hong Kong employees would change jobs if they could make more money elsewhere, and 86% report they are looking for a new job, a new survey shows.
Randstad's Q2 Workmonitor Survey shows that Hong Kong workers are less invested in their jobs than their APAC peers.
Nearly three quarters of Hong Kong employees view their current jobs merely as a way to earn a living, compared to 62% in China, 67% in Australia and 49% in New Zealand.
What's more, three of five Hong Kong employees think they can switch careers at any moment in time, and less than half (47%) are satisfied with their current employers.
These are not just idle threats, as over 34% of employees had changed their jobs in the last six months and 33% had been in their current job for two years or less.
Randstad Hong Kong director Peter Yu said employers need to realise how willing their employees are to change jobs in light of the talent war raging in the city, especially now that unemployment is at its lowest rate this century of just 3.1%.
"It's no surprise that Hong Kong is facing a stiff war for talent, and the manpower shortage will only intensify as the city's ageing population will leave one in three people aged 65 years or older by 2041," he said.
Faced with these challenges it is critical that employers implement measures to engage employees and build loyalty, he said.
"Being able to engage employees and create loyalty to the organisation is part of a company's employer branding efforts," Yu said. "A strong employer brand should demonstrate a comprehensive understanding of what employees want and provide an attractive offering that caters to those needs."