If you think your team is stable and spend no time on retention, think again. More than 70% of employees in Hong Kong want to quit their existing jobs, according to results of an online survey conducted in September by the Baptist University's School of Business.

The School of Business collected responses from more than 600 employees and more than 400 employees in Hong Kong.

Results also indicate that 6.4% of employees changed their jobs twice or more in the past 12 months because of below-market-average salary and benefits as well as not getting the recognition for what they have done.

In addition, close to 30% of employees said the best boss is an achievement-oriented leader while 18% identify the directive leader as the worst boss. However, more than 33% of the surveyed employers identify themselves as directive leaders.

The School of Business said employers need to take actions to improve employees' sense of belonging and satisfaction at work while both employers and employees have to communicate their needs with each other.