Employee optimistic about the job market and new role in 2013/14

Key survey findings: (Source: 2013/14 Michael Page China Employee Intentions Report)

• Almost half of survey respondents (47%) believe that the job market for the sector in which they work will improve over the next 12 months.
• 40% of surveyed employees say they are very likely to change roles in the coming 12 months.
• Learning and development (18%) and more seniority or a promotion (17%) are the most popular factors in deciding to accept a new role.
• To remain in their current position, 21% of professionals say financial reward based on performance is the biggest influencing factor.

July 17, 2013: The 2013/14 Michael Page China Employee Intentions Report reveals professionals are largely optimistic about employment conditions for their sector and are likely to change roles in the coming year.

The survey, based on the responses of over 2,400 employees across China’s professional sector, indicates that 47% of respondents expect the job market will improve for the sector they work in. Furthermore, 40% of all respondents are very likely to change jobs in the next 12 months.

"While growth in the Chinese economy has slowed over the last 12 months, the volume of job opportunities in the professional sector remains steady and so too are the confidence levels of jobseekers. In light of this, both financial and non-financial incentives will need to be offered by employers looking to secure talented staff in the next 12 months,” says Mr. Richard King, Managing Director of Michael Page in North and Eastern China.

A range of considerations are important in the decision to accept a new role; opportunities for learning and development, as stated by 18% of respondents, and more seniority or a promotion (17%) were the top factors selected. With regards to remuneration, 51% are seeking an increase of 16% or above on their current salary level in a new role.

In order to stay in their present role, 62% of surveyed employees will ask their current employer for a pay rise, with 36% of these respondents to ask for an increase of 10-12%.

“Offering a range of benefits and work-life balance options is also key to encouraging professionals to accept a role with a business or to remain in a company,” adds Mr. King.

In terms of benefits that employees are not already being offered, over half of respondents (54%) would most like to receive a bonus entitlement. Furthermore, 76% say they would prefer to receive flexible working arrangements to achieve better work-life balance.

To read the Employee Intentions report in full, visit the Michael Page China News & Research Centre.