More than half of Hong Kong’s workforce is contemplating a job change, Aon’s Employee Sentiment Study 2025 revealed.

In a study of over 9,000 employees across 23 markets – including the US, UK, China, India, and Australia – the financial hub of Hong Kong appears to be struggling with talent retention.

Nearly 1 in 5 employees (17%) feel undervalued in their roles. This is more than double the percentage in mainland China (7%) and higher than the global average (13%).

Overall, workers’ sense of being underappreciated is fuelling a strong desire for change.

A potential exodus of talent in Hong Kong?

Compensation is also a major point of contention: 60% of Hong Kong employees believe their pay is not competitive compared to industry standards. The global average of workers dissatisfied with their pay is at 37%.

The study also revealed a significant confidence gap in equity and career development: 41% of employees are not convinced their employer ensures gender pay equality.

Female professionals in Hong Kong are also 11% more likely than their male counterparts to seek career development and learning opportunities.

These findings highlight the need for companies to embrace pay transparency, invest in skill-building, and develop gender-inclusive policies to attract and retain top female talent.

However, 35% of workers overall lack confidence in their organisation’s investment in skill development. The figure is twice the global benchmark.

With 63% of employees either planning to switch jobs or considering doing so within the next year, these findings signal a potential exodus of talent unless companies take decisive action.

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What workers in Hong Kong value in their workplace

The Aon study underscores the importance of financial and non-financial incentives in talent retention. Competitive pay and meaningful benefits remain top priorities for employees. The trend prompts organisations to rethink their reward strategies.

Among the most valued benefits, paid time off takes the top spot, reflecting a growing emphasis on work-life balance. Overall, the top 5 benefits ranked by employees in Hong Kong are:

• Paid time off
• Medical coverage
• Work-life balance programmes
• Retirement savings
• Dental insurance

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Medical coverage is a particularly high priority for Gen X and Gen Z workers, who rank it above Millennials (Gen Y). The rising cost of living, coupled with an ageing workforce, has heightened concerns about financial security and health care. This is reportedly driving employees to seek better employer-sponsored support.

Flexibility in benefits is also key. More than half (57%) of employees are willing to trade their existing perks for a more tailored benefits package. The finding presents an opportunity for companies to introduce personalised and flexible benefits, Aon said.

The surprising appeal of office-based work

In a trend that bucks the global shift towards remote and hybrid work, 75% of Hong Kong employees prefer an office-based arrangement. This is over 20% higher than the global average.

This suggests that, while flexibility remains important, a structured work environment still holds strong appeal in Hong Kong’s corporate culture.

Employee expectations: Better support from employers

Beyond salary and benefits, employees expect broader support from their employers. The study highlights five key areas where employees seek greater backing:

Retirement savings: 33% believe employers should help them prepare for long-term financial security.

Wellbeing initiatives: 28% expect organisations to support overall employee wellbeing.

Women’s health support: 20% want companies to provide resources for issues like menstruation and menopause.

Emergency funds: 19% see employer-sponsored emergency savings as a necessity.

Eldercare and family care: 18% want assistance in balancing work with caregiving responsibilities.

Employees in Hong Kong rethinking compensation, career growth

Aon’s Head of Hong Kong, Ernest Leung, believes salary expectations alone do not dictate turnover.

“While organisations may perceive unmet salary expectations as the primary reason for employee turnover, employees evaluate all aspects of their roles and total rewards when deciding whether to remain with an organisation,” Leung said.

“With evolving technologies and an ageing workforce, the growth of businesses in Hong Kong will greatly depend on the ability of organisations to attract and retain top talent across multiple generations.

“It is crucial, therefore, for organisations to adopt more creative and innovative compensation practices using data-driven analytics and insights as part of their overall people strategy,” the leader said.