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Saturday, Feb 22, 2025
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Almost 40pc of managers resigned to emigrate
Almost two-fifths of management-level employees resigned in order to leave the country, followed by around a quarter of entry-level employees, according to a recent survey targeting the Great Resignation Wave in Hong Kong.
The survey was conducted by the Hong Kong Institute of Human Resource Management in August and September.
Speaking on a radio program Thursday, the institute's vice president Andy Luk Kwok-kwan referred to the interim population report by the Statistics Department that over 110,000 moved away from the city.
He then pointed to the survey findings that 37 percent of management-level employees and 24 percent of grassroots workers resigned in order to emigrate. Luk added there were 1,541 international corporates in Hong Kong in 2019, but the number has been dropping.
According to the 2022 Pay Trend Survey to be released next week, the pay rise of the I.T., finance, and accounting sectors is higher than that of other sectors. The I.T. sector also leads with a pay rise close to 10 percent, Luk noted, as he highlighted the fierce competition within the industry.
He recommended the SAR government, which has been stressing they will “snatch” overseas talents, to take a look at the talent programs of other countries.
Malaysia launched a new program to attract well-paid professionals to migrate there; Singapore also introduced the Overseas Networks & Expertise Pass, Luk acknowledged.
He appealed to the government to relax the Covid-19 restrictions for inbound travelers to perfect the city's talent scheme, otherwise, new talent won't be attracted to work in Hong Kong.
On another note, Luk called on the government to take the lead and hire retirees, allowing them to return to the labor market, saying many 60-year-olds are still young and healthy.
Speaking on a radio program Thursday, the institute's vice president Andy Luk Kwok-kwan referred to the interim population report by the Statistics Department that over 110,000 moved away from the city.
He then pointed to the survey findings that 37 percent of management-level employees and 24 percent of grassroots workers resigned in order to emigrate. Luk added there were 1,541 international corporates in Hong Kong in 2019, but the number has been dropping.
According to the 2022 Pay Trend Survey to be released next week, the pay rise of the I.T., finance, and accounting sectors is higher than that of other sectors. The I.T. sector also leads with a pay rise close to 10 percent, Luk noted, as he highlighted the fierce competition within the industry.
He recommended the SAR government, which has been stressing they will “snatch” overseas talents, to take a look at the talent programs of other countries.
Malaysia launched a new program to attract well-paid professionals to migrate there; Singapore also introduced the Overseas Networks & Expertise Pass, Luk acknowledged.
He appealed to the government to relax the Covid-19 restrictions for inbound travelers to perfect the city's talent scheme, otherwise, new talent won't be attracted to work in Hong Kong.
On another note, Luk called on the government to take the lead and hire retirees, allowing them to return to the labor market, saying many 60-year-olds are still young and healthy.
