Employers Have to Retain Staff

Employers in banking and finance sector have to look for ways to retain key staff.

According to recruitment consultant Robert Half’s 2010 Workplace Survey, 67% of banking and finance employees in Hong Kong are looking for a new job because of deteriorated working environments in 2009.

The survey shows that 60% of employees experienced pay cut in 2009, more than half did not take annual leave due to heavy workload, 44% experienced more stress at work, and 41% worked longer hours. “Increases in workload, salary cuts and no chance to take annual leave are incentive enough to begin seeking new employment in the improving economy,” commented Andrew Morris, Director of Robert Half Hong Kong.

Morris added that employers have to consider how to retain talent as the dynamics of the market shift in favour of the job seekers. The survey shows that only 21% of employers have introduced retention packages for key staff in Hong Kong.

The survey was conducted from January to February 2010, covering 1,281 HR, finance and accounting professionals in Hong Kong, Singapore, Australia and New Zealand, and 310 are in Hong Kong.

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