Employees in technology sectors in Asia like to job hop
The technology sector is booming across Asia and employees are taking advantage of being in high demand. Voluntary turnover was highest in Singapore at 14.7%, closely followed by China (14.2%) and Hong Kong (13.9%), according to the latest findings from the Radford Global Technology Survey.
But as employee turnover has gone up, so too has the percentage of technology companies reporting aggressive hiring plans. In Singapore, the percentage of technology companies that plan to hire aggressively increased from 5.5% to 6.0%. This will call into play their retention strategies as they desperately try to hold onto existing staff while recruiting new ones.
Technology companies reporting that they are actively planning and recruiting for organisational growth increased in six out of 10 key Asia Pacific markets. India has the highest percentage of companies actively growing their workforce (18.4%). However, China experienced a drop in companies expecting to grow headcount which could be partly explained by its ongoing trade dispute with the US.