Nearly half of employees in Mainland China plan to change employers within the year and 43% are currently open to an offer, according to research from Hays China.
The research also showed that 19% of workers in China plan to change employers within six months with 28% already on the hunt for a new job.
Simon Lance, Managing Director of Hays Greater China, commented, ““A total of 65% of candidates told us that ‘salary or benefit packages’ was the top reason for looking for a new role, an increase from the 63% of respondents who cited this reason last year,” Lance said. “‘Lack of career progression’ was the second most common reason (60%) followed by a desire to ‘seek new challenges’ (43%)”.
Hays research also surveyed employees about their salary expectations with 57% saying they were unhappy with their ‘compensation & benefits’ package while 43% were happy. The majority, or 74%, did not ask for a pay rise in the last year, while 9% asked for a pay rise but were not successful, and 17% asked and received a pay rise.
In 2018, 85% expect a pay rise of more than 6%. More than half of employers (51%) plan to award increases of more than 6% while another 35% expect to increase salaries from between 3%-6%.
“Salary and benefits remain a key driver for job hunters, but we are seeing candidates place greater value on non-financial benefits too particularly on ‘career progression’,” Lance said.