HK employees demand 6% raise to return to office
HONG KONG, CHINA — A recent survey of 350 employees in Hong Kong revealed that over half would ask for a salary raise or consider changing jobs if required to work full-time in the office.
The Bloomberg Intelligence survey revealed that 27% of respondents wanted a pay rise, mostly seeking an increase of 6% or more, to work full-time in the office. Another 24% said they would consider changing jobs to gain more flexibility.
The findings suggest a shift towards hybrid working in Hong Kong, with companies likely to adopt such models while cutting office space.
“Even in Asia, flexible working is taking hold as companies implement workplace strategies that will attract and retain top talent,” said advanced and emerging economies expert Nicholas Spiro.
Bloomberg Intelligence analysts predict this will lead rents to fall by at least 6% in 2024, adding to a similar annual decline over the past three years.
Demand from Chinese firms, previously major occupiers, has also dropped significantly. Mainland companies accounted for just 11% of new office leases in Hong Kong in 2023, down from 18% in 2021, according to real estate firm CBRE Group.
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