Staff turnover in Hong Kong is reported to be the highest among all regions in Asia.

According to a survey conducted by recruitment consultant Hudson, Hong Kong has reported higher levels of staff turnover than in any other market surveyed in Asia with 37% of respondents stating that turnover in the last 12 months has exceeded 10%. Among them, media / PR / advertising and consumer sectors have experienced the highest levels of turnover. In the media sector, 46% reported a staff turnover of more than 10%. It is reported that staff poaching, perceptions of limited career progression and dissatisfaction with salary and bonuses are the main causes of staff turnover.

The survey has shown that 54% of the 514 companies interviewed plan to increase headcount. Among them, the legal sector has the highest expectations, with 73% of respondents planning to hire more staff. The media / PR / advertising sector has also reported a growth in headcount, from 34% in Q1 2006 to 58% this year.

To recruit talents, half of the respondents expect to increase new managers' salaries by more than 10%. Thirteen percent of respondents will increase starting salaries by more than 20%. Companies in all sectors are planning to pay higher bonuses than last year, with 54% intending to pay more than 10%, the highest figure for all the markets surveyed in Asia. The banking sector is paying the highest bonuses, with 73% planning to pay more than 10%.

It is reported that the demand for talents in the finance sector remains high. Sales roles account for a large proportion of vacancies.

The survey was conducted on 2,200 key employment decision makers from multinational organizations of all sizes in all major industry sectors, with 514 of them based in Hong Kong.