Over a third of employees (37.36%) in Singapore, Hong Kong SAR and Malaysia are planning on leaving their companies in the coming six months.
According to the 2017 Randstad Employer Brand Research report, disgruntled employees held similar sentiments in Singapore and Hong Kong SAR with around 38% planning to leave. Malaysian employees were only slightly less anxious to leave their jobs with around 35% looking for new career opportunities.
Demographic profiling revealed that young male employees across all three markets were the most likely to leave their job.
reasons why employees quit
When looking at the reasons behind why people were planning to leave, poor salary & benefits along with a lack of career progression were the two primary factors in Singapore, Hong Kong SAR and Malaysia. The third largest factor in Singapore and Malaysia was a lack of appreciation from management. The third largest factor for Hong Kongers to turn their backs on their employers was a poor workplace atmosphere.
While sentiment remained fairly homogeneous across all demographics and markets, younger employees held stronger concerns around their salary and benefits.
Michael Smith, Managing Director, Randstad Singapore, Hong Kong SAR and Malaysia noted, “While organisations look at improving their employer brands to attract the best new talent into their ranks, management needs to be wary of the high risk of losing their staff. Our latest research highlights the unsettling number of employees planning to leave their jobs in the near future. This reinforces the need for organisations to not only look out at new talent, but also inwards to ensure the retention of their best staff. Research has shown that the cost replacing a lost employee can be very high in terms of time and money.
“While bringing in talent with great salaries and promises of career progression opportunities, organisations must not rest once those individuals have settled in. These companies must consistently monitor the advancement of these factors as the individuals grow within the organisation,” added Mr. Smith.
The Randstad Employer Brand Award, previously known as the Randstad Awards, is presented each year to the most attractive employer in 26 markets across the globe. It is based on the outcome of one of the world’s most representative and inclusive research into employer branding, covering over 160,000 global respondents.
The 75 largest companies are selected in each participating market, usually with more than 1,000 employees. This list is presented to a representative cross section of relevant respondents based on region, age, education and gender. In Singapore and Hong Kong SAR, over 5,000 employees and job-seekers between the ages of 18-65 were surveyed. In Malaysia, over 4,500 were surveyed.
hong kong SAR
about randstad employer brand research
Celebrating its 17th edition globally, the Randstad Employer Brand Research Award is presented each year to the most attractive employer in 26 markets across the globe. It is based on the outcome of the most representative and inclusive employer branding research in the world. The outcome of the Employer Brand Award is based on public perception and focuses on three main areas: overall brand awareness, absolute attractiveness and relative attractiveness. This creates a level playing field for all competing companies instead of giving an advantage to large multinationals with higher name recognition than smaller companies. This award is not open for nomination and the results are based solely on the opinions and votes of the local workforce – making it the only award that is truly representing the people’s choice. The 75 largest companies are selected in each participating market, usually with more than 1,000 employees. This list is presented to a representative cross section of relevant respondents based on region, age and gender. Respondents were asked to identify companies they recognise and indicate if they would like to work for them. This is then followed up with an evaluation of attractiveness factors, such as salary, benefits, work atmosphere and job content, for each of the companies.
The Randstad Group is a global leader in the HR services industry and specialises in solutions in the field of flexible work and human resources services. Our recruitment services range from regular temporary Staffing and permanent placements to Inhouse Services, Professionals, and HR Solutions (including Recruitment Process Outsourcing, Managed Services Programs, and outplacement). By combining our human touch with technology-driven solutions and tools, we aim to offer both clients and candidates the best tools and solutions for increased efficiency and engagement, connecting more people to more jobs. Randstad has top-three positions in Argentina, Belgium and Luxembourg, Canada, Chile, France, Germany, Greece, India, Italy, Mexico, the Netherlands, Poland, Portugal, Spain, Sweden, Switzerland, the UK, and the United States, and major positions in Australia and Japan. At year-end 2016, Randstad had 36,524 corporate employees and 4,752 branches and Inhouse locations in 39 markets around the world. In 2016, Randstad generated revenue of €20.7 billion. Randstad was founded in 1960 and is headquartered in Diemen, the Netherlands. Randstad Holding nv is listed on the NYSE Euronext Amsterdam, where options for stocks in Randstad are also traded.