“Attractive salary and benefits” has dethroned “good work-life balance” as the top employer value proposition (EVP) driver Hongkongers look for in ideal employers.
Randstad - the world’s largest talent company - today revealed its complete findings of the 12th annual Employer Brand Research in Hong Kong SAR. Conducted by Kantar TNS in January 2024, the study surveyed 173,000 respondents around the world, including 2,689 individuals in Hong Kong SAR, making it the world’s most comprehensive employer branding research based on general talent perceptions.
The latest survey reveals that employees are laser-focused on their finances, as they ranked EVP factors like salary, benefits, company’s financial stability and job security highly. This suggests that talent are re-prioritising their desires, and are highly-motivated by financial factors when evaluating their careers. To retain a productive workforce, companies will need to be more competitive on compensation and benefits in the coming years.
Facing inflation's bite, over half of survey respondents across generations received some form of salary adjustment from their employers. However, a disparity exists, as older generations (average 24%) are more likely to not receive any kind of financial support from their employers as compared to their younger counterparts (average 15%).
80% of hongkongers feel the impact of AI at work - are we ready for the future of work?
Using artificial intelligence (AI) regularly at work can help boost overall workplace efficiency and productivity. 32% of respondents are already using AI at work, especially the younger generations.
However, 3 in 10 respondents said that they have never used AI tools in their work. There are some gender and generational disparities when it comes to using AI at work as well.
Women are 6% less likely to use AI as compared to their male counterparts. The adoption rate among Baby Boomers and Gen Xers is low too, with 36% of them saying that they have never used AI at work.
In Hong Kong, 80% of respondents said that AI has already impacted their jobs at varying levels. Millennials (82%) are the most likely to feel the impact of AI, followed by Gen Xers (78%), Baby Boomers (73%) and Gen Zers (71%).
how has AI impacted your job?
AI is rapidly transforming workplaces in Hong Kong and already has a considerable impact on many jobs to either make them obsolete or greatly improve the outcomes in the near future.
To achieve the latter, employers need to bridge the AI skills gap through more proactive AI literacy training and integrate it into employees’ skills development roadmaps to ensure everyone feels empowered to use these tools in their jobs.
close the gender gap for a fairer and more productive workplace
Hong Kong's unique cultural tapestry, where diverse individuals come together, fosters a vibrant and dynamic workforce. This rich blend of talent is drawn to companies that make efforts to strategically build a more cohesive workforce to drive both productivity and growth.
To reflect the expectations of the modern workforce, Randstad included "equity" in the list of EVP factors in the survey this year. It is defined as "offering employees equal opportunities regardless of age, gender, ethnicity, etc.". Interestingly, "equity" debuts as the top fifth EVP that is important to Hongkongers.
However, data from the 2024 Employer Brand Research indicates a gap between diversity and true inclusion, as 43% of respondents consider themselves a minority at work due to varying reasons.
Approximately half of the local respondents said that they face career advancement barriers, with a surprising gender disparity. Males are more likely than females to feel that they face career roadblocks due to their identity, with 55% reporting such experiences.
Furthermore, those who identify as a minority at work are 16% more likely to struggle with career progression, highlighting a potential need for stronger inclusion initiatives alongside efforts promoting equal opportunity.
The biggest gender gaps are found in upskilling and re-skilling, job promotions and opportunities given to the most deserving employees.
do you agree with these statements about diversity, inclusion and equity?
Equity is a cornerstone of our commitment at Randstad to the workforce. We recognise that it is a complex issue to tackle, especially unconscious bias. Our research and talent engagement have consistently emphasised the need to address this by driving inclusion alongside equal opportunity.
This means open dialogues, skills-based hiring and talent development, and most importantly, transparency. Clear evaluation criteria and career paths are essential for a truly inclusive workplace where everyone can reach their full potential.
get your free digital report: 2024 employer brand research report
Randstad - the world’s largest talent company - launches its 12th annual Employer Brand Research in Hong Kong SAR. Conducted by Kantar TNS in January 2024, the study surveyed 173,000 respondents around the world, including 2,689 locally-based individuals, making it the world’s most comprehensive employer branding research based on general audience perceptions.
The report features more in-depth data about the research that can help organisations and employers shape their employer branding strategies. Fill in the form below for more workforce trend analysis that can guide you towards a more successful employer brand strategy.
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At Randstad, we conduct comprehensive market research to uncover talent insights and trends to support employers in developing and executive talent attraction strategies to find top talent in Hong Kong.
Connect with our specialist talent consultants for more in-depth insights customised to your organisation or simply let us know your hiring requirements and we’ll get in touch with you.