TALENT MANAGEMENT

Hong Kong’s Overall Average Staff Turnover Rate at 12.3% in First Half of 2017

Hong Kong’s overall average staff turnover rate for the first half of 2017 was 12.3%, rising 1.8 percentage points from 10.5% in the second half of 2016, reveals the findings of The Half Yearly Survey on Manpower Statistics (First Half of 2017) conducted by the Hong Kong Institute of Human Resource Management (HKIHRM).

The job vacancy rate in the first half of 2017 stood at 6.5%, down 0.1 percentage point from the second half of 2016. The hiring intention of the majority of companies remained stable for the second half of 2017.

Since 2002, the HKIHRM Survey on Manpower Statistics has been collecting data to track manpower movement in Hong Kong’s labour market. A total of 80 companies participated in the survey conducted in July and August 2017, covering 97,935 full-time employees.

The top three business sectors with the highest staff turnover rate were construction/property development/real estate (20.7%), retail (18.3%), and telecommunication (14.6%).

The top three business sectors with the lowest staff turnover rate were transport/services allied to transport (storage) (2.1%), electricity/gas/petrol (2.4%), and manufacturing (6.4%).

In terms of employee level, clerical/ frontline staff continued to record the highest turnover rate in the first half of 2017 at 17.3% while the lowest turnover rate was recorded for top/ senior/management at 3.4%.

Job vacancy rates

The top three business sectors with the highest job vacancy rate in the first half of 2017 were retail (11.7%), construction/ property development/real estate (9.7%), and community/social/personal services (7.3%).

The top three business sectors with the lowest job vacancy rate were transport/services allied to transport (storage) (1.9%); wholesale, import/export, trading, distribution (1.9%); and telecommunication (2.2%).

In terms of employee level, clerical/ frontline staff recorded the highest job vacancy rate in the first half of 2017 at 7.4% while top/ senior management registered the lowest job vacancy rate at 2.4%.

Position growth/cut

The net growth in new positions for the first half of 2017 was 2.3%, up 1.8 percentage points when compared with the second half of 2016.

The top three business sectors with the highest new growth in new positions are financial services/ banking/insurance (11.4%); construction/property development/real estate (7.6%); and manufacturing (5.1%).

In terms of employee level, positions for clerical/ frontline recorded the highest net growth in the first half of 2017 at 2.4% while net growth for positions at top/ senior management, middle management/ non-managerial professionals and supervisory/ officers stood at 1.3%, 1.8% and 2.3%, respectively.

Absence rate

Among the 80 participating companies in the survey, 62 companies provided data on staff absence. In the survey, “absence” is defined as unscheduled absences of one or more than one day including sick leave (paid or no paid), emergency leave, and casual leave.

The overall absence rate in the first half of 2017 was 2.4%, 0.3 percentage point higher than the second half of 2016, and 0.1 percentage point higher from a year earlier.

The top five business sectors with the highest absence rate were community/social/personal services (2.8%); construction/property development/real estate (2.6%); and electricity/gas/petrol (2.2%); transport/services allied to transport (storage) (2.2%); and wholesale, import/export, trading, distribution (1.6%).

In terms of employee level, the clerical/ frontline staff recorded the highest absence rate at 3.2%, compared with top/ senior management staff at 1.0%.

Hiring intentions

Among the 80 participating companies, all of them provided data on their hiring intention for the second half of 2017.

Employers’ hiring intention in the second half of 2017 remained stable, with 68.8% of the surveyed employers would remain hiring at the same level as in the first half of 2017, followed by 12.5% who would freeze hiring, and 5% who would reduce hiring.

By business sector, financial services/banking/insurance; telecommunication; and construction/property development/real estate were the top three sectors with the strongest intention to increase hiring in the second half year of 2017, while wholesale, import/export, trading, distribution was the sector with the strongest intention to freeze hiring in the second half year of 2017.

David Li, President of the HKIHRM, comments that Hong Kong’s unemployment rate remained at 3.1% in the third quarter of 2017, which can be regarded as full employment, with the employment situation continuing to improve across various business sectors, especially in manufacturing, property and real estate, and retail, according to the government’s figures. 

 

 

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