Turnover Rate and Vacancy Rate (2nd half of 2020)

Overview

 

The Hong Kong Institute of Human Resource Management conducted the Manpower Statistics Survey for the second half of 2020 between January and March 2021. Information from 42 companies representing a total of 54,603 employees was collected and analysed.

The staff turnover rate was 6.2% in the second half of 2020 (3.1% in Q3 & 3.1% in Q4), 0.7 percentage point lower than the corresponding figure recorded in the same period last year. The 2020 full year turnover rate was 9.6%, 9.9 percentage points below the 2019 figure of 19.5%.

On the other hand, the annual vacancy rate for 2020 stood at 3.1%. This is 4.0 percentage points lower than the same period in 2019.

The weighted average absence rate in the second half of 2020 remained stable at 2.0%.

 

 

2020 

Full year

2020

H2

2020

H1

2019

Full year

2019

H2

2019

H1

Staff turnover rate

9.6%

6.2%

3.5%

19.5%

6.8%

12.7%

Job vacancy rate

3.1%

2.4%

3.8%

7.1%

9.5%

4.6%

Absence rate

-

2.0%

2.0%

-

2.3%

3.2%

Notes :

1. All figures are weighted averages.
2. Individual figures may not add up to total due to rounding

 

 

Manpower needs registered a small 0.3% net growth in positions in the second half of 2020. When forecasting the hiring intentions for the first 6 months of 2021, nearly 60% responding companies expected hiring level to remain at the same level as in the second half of 2020 whereas 31.0% planned to reduce hiring.  Only less than 5% expected hiring to increase.

 

Hiring Intention

2021 H1

2020 H2

Increase hiring

4.8%

7.0%

Freeze hiring

4.8%

37.2%

Reduce hiring

31.0%

9.3%

Remain hiring at the same level as previous 6 months

59.5%

46.5%

Note : Individual percentages may not add up to 100% due to rounding

 

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