49% of respondents are actively looking for a new job in 2020: randstad hong kong.
By Editor's Desk, May 27, 2020, Categories: In the Mood, Slider
● 86% are concerned about their job security in 2020
● 23% said that their employers have made work from home a mandatory measure in response to COVID-19
● 50% of respondents said that their employers have implemented cost-cutting measures to mitigate losses
27 MAY 2020, HONG KONG SAR – Even as 86% of all respondents said that they are concerned about their job security in 2020, 49% are actively looking for a new job in 2020. More than one in three respondents (35%) said that while they are not actively looking, they are open to exploring new job opportunities.
The 2020 COVID-19 Employee Pulse Survey was conducted by Randstad Hong Kong with 1,045 of locally-based employees between 22 April 2020 and 5 May 2020. The study aims to help employers in Hong Kong understand the challenges and experiences of local workers and their sentiments about the employment market this year.
unsatisfactory salary is the top reason why employees want to resign
Out of those who intend to look for a new job opportunity, 41% said that they are unsatisfied with their current salary and want a job with higher pay. 33% said that they want to change their career or the industry they work in, 18% said that their skills and work experience do not meet their current job requirements and 41% cited reasons associated with COVID-19.
Natalie Sun, Managing Director of Search and Selection across Greater China at Randstad said, “The employment statuses for many Hongkongers have changed as a result of months-long protests and COVID-19. A global event like the pandemic will also motivate some people to rethink their career choices. Some may want to join an industry that is seen to be recession-proof for better job security or to find a new purpose through their career. We can expect to see more movements in the job market once the economy picks up.”
Of the 16% of respondents who said that they are not looking for a job this year, 48% said that they are confident that their employers will retain them this year and 30% prefer to wait until after COVID-19 before deciding if they want a career switch.
59% are satisfied with their employer’s response to COVID-19
89% of respondents stated that their employers have made flexible working and remote working arrangements in response to the pandemic. Among them, 23% said that their companies have made working from home a compulsory measure.
Even though COVID-19 is a respiratory viral disease that is transmissible through close contact, 15% said that their employers made no changes to their workforce arrangements.
“When employers implement work-from-home policies to protect their staff from the pandemic, they should also ensure that the employees can receive adequate technology and team support from home. In an ideal situation, employees should not need to troubleshoot technical issues on their own at home. Neither should they feel alone or unsupported by their team members when working remotely. With the help of technology, managers can play a more active role in tracking their employees’ progress and step in to provide counsel and support to those who need it,” Sun adds.
Even though only 5% do not have access to technology tools to collaborate with their teammates when working remotely, 30% said that they do not have adequate technical support when not in the office. 76% used video conferencing tools, 73% used messaging services and 18% used internal social communities to connect with one another when working from home.
50% saw their employers take cost-cutting measures to mitigate losses
50% of respondents said that their employers have not announced or implemented any cost-cutting measures to mitigate losses in response to the current economic outlook. 12% said that their companies have placed workers on unpaid leave, 11% had implemented a salary freeze this year and 10% have announced salary cuts.
Sun explains how cost-cutting measures will impact retention rate, “COVID-19 did not have an equal impact on all industries and companies in Hong Kong. For example, the number of users for digital services has soared this year, which means that some companies are looking to expand their headcount. Employees who have been itching to switch employers will look for job opportunities in these companies. Workers will also be motivated to start a job search when their employers implement cost-cutting measures that impact their income. When companies announce salary and bonus cuts, employees will feel that they have nothing to lose if they make the switch, and are expected to take action fairly quickly this year.”
53% expect regular business updates from their employers
When asked what a good employer should do during a pandemic, 53% expect their employers to give regular business updates and reassure their employment status, 52% want a mandatory work-from-home arrangement until there is no more community spread and 43% wishes for better flexibility for employees living with children and the elderly.
Sun concludes, “People tend to panic and make impulse or irrational decisions during a crisis. While it is a great platform to inform the public, social media has also exacerbated issues around misinformation and misinterpretation of facts around COVID-19. To help calm people down, especially employees who are worried about their jobs and incomes, it is necessary for employers to give regular updates and be transparent about how the pandemic has impacted the business and what it would mean for the company. When an employer is proactive and honest, it helps build trust between them and their employees, which would result in a more engaged and loyal workforce.”
The COVID-19 Employee Pulse Survey was conducted between 22 April 2020 and 5 May 2020 with 1045 locallybased respondents.
media contacts
Rena Tan, Regional Marketing & Communications Director, Southeast Asia & Greater China rena.tan@randstad.com.sg
Alistar Lien, Regional Communications Manager, Southeast Asia alistar.lien@randstad.com.sg
about randstad
Randstad is the global leader in the HR services industry. We support people and organisations in realising their true potential. We do this by combining the power of today’s technology with our passion for people. We call it Human Forward.
Our recruitment services range from regular temporary Staffing and permanent placements to Inhouse Services, Professionals, and HR Solutions, including Recruitment Process Outsourcing, Managed Services Programmes and outplacement.
Randstad has active operations in 38 markets around the world and has top-three positions in almost half of these. In 2019, Randstad had on average 38,280 corporate employees and 4,861 branches and Inhouse locations. In 2019, Randstad generated revenue of €23.7 billion. Randstad was founded in 1960 and is headquartered in Diemen, the Netherlands. Randstad N.V. is listed on the NYSE Euronext Amsterdam, where options for stocks in Randstad are also traded.
For more information, visit www.randstad.com.hk.
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