10 things you should know and deliver
While most employees are intended to stay for the next 2 years, over 60% of the employees are open to offers or actively looking for a new role.
How to make your talent attraction & retention plan magnetic — and deliver? Read our 2022 Global Benefits Attitudes Survey – Hong Kong key findings below and explore.
01
Employees identify pay, job security and core benefits as the most important attraction and retention drives. Under global pandemic situations, health benefit is the second top factor to attract talent and fourth in retention.
02
When employees feel the benefits program meets their needs, 71% of them also share that they intend to stay with their employer for the next two years. That percentage drops to 34% when the employees do not feel the benefits program meets their needs.
03
53% of the employees are satisfied with their overall benefits. However they still want their employers to focus more on retirement, flexible work arrangements and health benefits as their top three priorities.
04
However, most are not financially prepared for retirement at the age they expect with over 2/3 of employees recognizing they are not saving enough. In view of ESG investment as part of their retirement plan, a quarter of employees have a strong preference for investing in ESG, irrespective of the impact on returns. Still, the vast majority think retirement plans should focus on maximising returns and a quarter wants to avoid ESG.
05
Delivering choice improves employee perceptions of benefits program. Almost half of the employees want their employers to prioritize in increasing flexibility and choice.
06
Half of the employees believe their employers can get a better deal than they can get on their own. Employees are looking up for employers to support them on more options in benefits. Offering choices strengthens trust in the employer role.
07
Emotional health is an area of benefits 1 in 5 employees want their employers to help with. Yet only 2 in 5 report that their employers’ initiatives have helped to improve their mental health. There is an opportunity for employers to improve the resources they provide to support mental health, including digital tools, and support through social networks.
08
46% of the employees are with anxiety or depression while only 60% of them are able to obtain help to manage mental health. Virtual care is a good way to enable employees to get support and 29% of them are using it now. Among those who use virtual care, 69% are able to get help to manage mental health. There are significant opportunities to promote their use further.
09
Financial problems are strongly connected to other issues including anxiety, health behaviours, loneliness and lower performance. As more employees are using financial apps, 43% of them want it to be a core part of benefits.
10
Flexible working policies have improved work-life balance and become an important factor in attraction and retention. However, employees also feel disconnected from the team and also worried about negative impact to career development.
You can find out more about the 2022 Benefits Attitudes Survey findings from us so you can know the detail of Hong Kong employees’ attitudes towards their employer and their benefits package and its impact on productivity.
