The survey found that nearly a third of SMB employees surveyed are considering changing jobs, and that employee benefits have become key to “retaining talent.”
Prudential’s latest “Wager Happiness Survey” published by Prudential Insurance was conducted from September to October last year in the form of an online questionnaire, interviewing a total of 600 employees of small and medium enterprises in Hong Kong and 300 employees of large enterprises in Hong Kong Kong. The survey found that although 65% of SMB employees surveyed are satisfied with their current company, 32% of respondents are still open to new job opportunities or are actively looking for new jobs. Additionally, nearly a quarter (24%) of respondents said they would prefer to work at a large company, especially given the company’s strength (42%), better medical insurance (41%), more comprehensive employee benefits (39 %), and Perfect pension system (30%).
When considering whether to leave or leave a job, 77% of SMB employees surveyed believe employee benefits are the key considerations. The most attractive benefits include: remuneration and allowances, such as year-end payments (including double wages, year-end bonuses, etc.), incentives for long-term services, meals, transportation allowances and employee training allowances (94%); employee protection, such as medical benefits, retirement protection, and insurance plans such as life, critical illness, etc. (89%); holidays, as more than employment legislation Paid annual leave, special leave such as maternity or paternity leave, exam leave, birthday leave (86%).
Only 62% of SME employees surveyed said their company provides medical insurance, far lower than 83% of large companies; and less than half (47%) have insurance plans provided by their employers, such as life and critical illness. Their satisfaction with medical insurance is the lowest of many benefits, reasons include low claim amount and limited coverage.
Furthermore, among the financial management workshops organized by the company, the most popular topics among SME employees are financial management or financial knowledge (41%), MPF performance and management (40%) and retirement planning (33%). When asked if the company they worked for could provide more than one MPF supplier to choose from, nearly 90% (88%) of SMB employees were interested.
Ng Shiya, chief market development and insurance partner marketing director at Prudential, said there are currently more than 350,000 small and medium-sized enterprises in Hong Kong, which together employ about 45 percent of private sector employees. and medium-sized enterprises is particularly important to Hong Kong’s economy. Employees are an important asset of any company and retaining talent is an important part of the sustainable development of SMEs.
Source: Full Report
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