Employers in Hong Kong are
continuing their focus on retaining professionals in 2013 as they expect a
skills shortage as compared to the previous year.
Thirty-nine percent of surveyed employers expect a professional
skills shortage during 2013, according to key survey findings from 2013 Michael
Page Salary & Employment Forecast, Hong Kong.
This increase represents an increase of 27 percent from the
previous year's survey.
Fifty percent of all employers surveyed expect their business to
experience some staff turnover during the year.
Employers are designing different strategies to retain staff and
few of them are offering work-life balance options and employee benefits to the
professionals working in their organisations.
"In addition to
implementing talent attraction and retention strategies, managers should be
proactive about talking to their teams and understanding individual career
aspirations," said Andy Bentote, senior managing director of PageGroup in
Hong Kong and Southern China.
Work-life
balance
Ninety-five percent of employers are offering healthcare/health
insurance as an employee benefit and 58 percent provide team building/offsite
activities to help create work-life balance in employees' lives.
Forty-five percent of the employers surveyed have decided to
focus on recognition and reward and 69 percent will award salary increases
based on performance.
Forty-eight percent of the respondents are likely to award an
average salary increase between four percent and six percent.
"The Hong Kong employment market continues to offer
opportunities for experienced and talented professionals, particularly those
with multiple language skills," added Bentote. "In light of this,
employers need to consider the spectrum of attraction and retention strategies
- both financial and non-financial - to entice new employees to their business
and key staff to stay."
