Almost a quarter (23%) of Hong Kong workers say they are unhappy, said Workday which commissioned a survey conducted by IDC across Asia Pacific.
The IDC survey was conducted in 2018 among 1404 individual employees from New Zealand, Hong Kong, Australia, Thailand, Singapore, Malaysia, Japan and Korea to determine their attitudes and readiness for the digital economy.
According to survey results, 81% of employees surveyed in Hong Kong are open to switching jobs with the right opportunity and 25% of respondents are planning to leave their employer within a year.
Major push factors are about compensation (22%), work/life balance (14%) and lack of career prospects in the face of digitalization (13%), Workday said.
In addition, 55% of respondents in Hong Kong feel managers and employers are not proactively engaging employees, while 30% of them said they are also not getting trained/ upskilled for the digital economy and 52% believe it is the employers’ responsibility, the vendor added.
According to the survey, the digital economy is driving a dichotomy in the talent market: Retention challenges and reskilling needs.
While the war for talent has created more opportunities for employees with the relevant digital skills, evolving job requirements challenge governments and employers to help workers stay relevant through investment in reskilling around the region, Workday noted.
The top reasons for changing jobs in Hong Kong are “Better pay, reward” (26%), followed by “Better career prospect” (19%) and “Better work/life balance” (14%), the firm pointed out.
“One of the interesting pieces of data coming out of the survey is that the more confident workers are about having the necessary digital skillsets to meet the challenges of the future workplace, the more likely they are planning to leave their current company within a year,” said David Hope, president, Workday Asia Pacific.
“By 2021, at least 60% of APeJ GDP will be digitalized, with growth in every industry driven by digitally enhanced offerings, operations, and relationships,” said Daniel-Zoe Jimenez, Research Director, Digital Transformation Practice Lead APeJ, IDC Asia/Pacific. “Every growing enterprise must become a ‘digital native’ in the way its executives and employees think and act, to challenge digital disruptors and become successful players in the digital economy, or may not survive.”
Employers should make the effort to share their digitalization plans with staff they hope to develop, provide them with relevant skills and compensate them accordingly for their new roles or risk losing them to competitors, Hope advised.