SALARY NO LONGER TOP REASON EMPLOYEES LEAVE
Change underscores shifting career priorities for workforces in Japan
Japan, 25th Mar 2024 – The 2024 Hays Asia Salary Guide which surveyed 1,554 skilled professionals and 328 employers from Japan revealed that salary packages were no longer the top reason employees chose to stay with a company.
Y. O. Y. COMPARISON ON TOP THREE REASONS FOR WANTING TO LEAVE
The survey, conducted across six weeks in late 2023, asked employees looking for new opportunities within the next twelve months to list the top three reasons they wanted to leave their current place of employment. The survey found that a desire to seek new challenges had surpassed low salary packages as the main reason across Asia. A similar survey conducted in 2022 identified low salary packages as the primary reason employees were choosing to leave their current jobs.
TOP REASONS TO STAY WITH EXISTING EMPLOYER
When it came to employees who stayed, flexible work options were unanimously selected as the most important contribution to that decision, rated even above salary considerations. Good job security was also found to be a large motivator for less committed employees to stay, tying into conservative estimates regarding the economy and job stability in the time to come.
“A healthy working environment, positive values and a sufficiently challenging role will go a longway towards winning the hearts of employees in Japan.” said Marc Burrage, Managing Director at Hays Asia. “Leaders need to have these discussions with their workforce, and employees need to examine how they can enhance their value in this period of disruption. Collaboration is the key to survival, and both parties will need to face these challenges with open minds and a willingness to adapt.”
Hays, the global leader in workforce solutions and specialist recruitment released the 2024 Hays Asia Salary Guide which compiles salary and sector overviews based on real data and a survey of skilled professionals across Japan, China, Hong Kong SAR, Malaysia, Singapore, and Thailand.
For more of the latest recruitment trends and insights, download the 2024 Hays Asia Salary Guide.
About Hays Japan
Hays Specialist Recruitment Japan KK ("Hays Japan"), established in Tokyo in 2001, is one of the largest foreign recruitment companies in Japan with three offices across the country (Tokyo Head Office, Osaka and Yokohama).
At Hays Japan, our experts provide professional services across the private sector, dealing in permanent positions, contract roles, recruitment process outsourcing (RPO), ManagedService Programmes (MSP) and IT solutions in the following 13 specialisms: Accountancy & Finance, Banking & Financial Services, Engineering, Marketing & Digital, Human Resources, Insurance, Legal, Life Sciences, Office Professionals, Property, Sales & Marketing, Supply Chain and Technology. This ensures a highly focused, fully tailored specialist recruitment service, enabling us to power the future of work by serving thousands of companies and candidates in Japan. Hays Japan is recognised as a Great Place to Work® by the esteemed Great Place to Work® Institute Japan, the global authority on workplace culture. We continue to strengthen our position in Asia with the world-leading ISO 9001:2015 certification in all our operational markets including Japan, China, Hong Kong SAR, Malaysia, Singapore, and Thailand.
About Hays
Hays plc (the "Group") is the world’s leading specialist in workforce solutions and recruitment, such as RPO and MSP. The Group is the expert at recruiting qualified, professional and skilled people worldwide, being the market leader in the UK, Germany and Australia and one of the market leaders in Continental Europe, Latin America and Asia. The Group operates across the private and public sectors, dealing in permanent positions, contract roles and temporary assignments. As at 31 December 2023, the Group employed over 12,300 staff operating from 249 offices in 33 countries. For the year ended 30 June 2023:
– the Group reported net fees of £1,294.6 million and operating profit of £197.0 million;
– the Group placed around 76,800 candidates into permanent jobs and around 245,000 people into temporary roles;
– 15% of Group net fees were generated in Australia & New Zealand, 30% in Germany, 21% in United Kingdom & Ireland and 34% in Rest of World (RoW);
– the temporary placement business represented 57% of net fees and the permanent placement business represented 43% of net fees;
– Technology is the Group’s largest division, with 26% of net fees, while Accountancy & Finance (15%) and Engineering (10%), are the next largest
– Hays operates in the following countries: Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, the Czech Republic, Denmark, France, Germany, Hungary, India, Ireland, Italy, Japan, Luxembourg, Malaysia, Mexico, the Netherlands, New Zealand, Poland, Portugal, Romania, Singapore, Spain, Sweden, Switzerland, Thailand, UAE, the UK and the USA
When it came to employees who stayed, flexible work options were unanimously selected as the most important contribution to that decision, rated even above salary considerations. Good job security was also found to be a large motivator for less committed employees to stay, tying into conservative estimates regarding the economy and job stability in the time to come.
“A healthy working environment, positive values and a sufficiently challenging role will go a longway towards winning the hearts of employees in Japan.” said Marc Burrage, Managing Director at Hays Asia. “Leaders need to have these discussions with their workforce, and employees need to examine how they can enhance their value in this period of disruption. Collaboration is the key to survival, and both parties will need to face these challenges with open minds and a willingness to adapt.”
Hays, the global leader in workforce solutions and specialist recruitment released the 2024 Hays Asia Salary Guide which compiles salary and sector overviews based on real data and a survey of skilled professionals across Japan, China, Hong Kong SAR, Malaysia, Singapore, and Thailand.
For more of the latest recruitment trends and insights, download the 2024 Hays Asia Salary Guide.
About Hays Japan
Hays Specialist Recruitment Japan KK ("Hays Japan"), established in Tokyo in 2001, is one of the largest foreign recruitment companies in Japan with three offices across the country (Tokyo Head Office, Osaka and Yokohama).
At Hays Japan, our experts provide professional services across the private sector, dealing in permanent positions, contract roles, recruitment process outsourcing (RPO), ManagedService Programmes (MSP) and IT solutions in the following 13 specialisms: Accountancy & Finance, Banking & Financial Services, Engineering, Marketing & Digital, Human Resources, Insurance, Legal, Life Sciences, Office Professionals, Property, Sales & Marketing, Supply Chain and Technology. This ensures a highly focused, fully tailored specialist recruitment service, enabling us to power the future of work by serving thousands of companies and candidates in Japan. Hays Japan is recognised as a Great Place to Work® by the esteemed Great Place to Work® Institute Japan, the global authority on workplace culture. We continue to strengthen our position in Asia with the world-leading ISO 9001:2015 certification in all our operational markets including Japan, China, Hong Kong SAR, Malaysia, Singapore, and Thailand.
About Hays
Hays plc (the "Group") is the world’s leading specialist in workforce solutions and recruitment, such as RPO and MSP. The Group is the expert at recruiting qualified, professional and skilled people worldwide, being the market leader in the UK, Germany and Australia and one of the market leaders in Continental Europe, Latin America and Asia. The Group operates across the private and public sectors, dealing in permanent positions, contract roles and temporary assignments. As at 31 December 2023, the Group employed over 12,300 staff operating from 249 offices in 33 countries. For the year ended 30 June 2023:
– the Group placed around 76,800 candidates into permanent jobs and around 245,000 people into temporary roles;
– 15% of Group net fees were generated in Australia & New Zealand, 30% in Germany, 21% in United Kingdom & Ireland and 34% in Rest of World (RoW);
– the temporary placement business represented 57% of net fees and the permanent placement business represented 43% of net fees;
– Technology is the Group’s largest division, with 26% of net fees, while Accountancy & Finance (15%) and Engineering (10%), are the next largest
– Hays operates in the following countries: Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, the Czech Republic, Denmark, France, Germany, Hungary, India, Ireland, Italy, Japan, Luxembourg, Malaysia, Mexico, the Netherlands, New Zealand, Poland, Portugal, Romania, Singapore, Spain, Sweden, Switzerland, Thailand, UAE, the UK and the USA