Turnover Rate and Vacancy Rate (1st half of 2019)

Overview

The Hong Kong Institute of Human Resource Management conducted the Manpower Statistics Survey covering the first half of 2019 between July and August 2019. This report outlined analyses of information provided by 34 companies representing a total of 29,888 employees.

The staff turnover rate (weighted average) was 12.7% in the first half of 2019 (5.9% in Q1 and 6.8% in Q2), 1.7 percentage points higher than the same period last year.  Meanwhile, the weighted average vacancy rate stood at 4.6%.  On the other hand, manpower need showed a net growth of 0.5% in the first half of 2019 while the hiring intention in the latter half of the year is expected to remain largely stable. Over half of responding companies (52.9%) reported that hiring would stay at the same level as in the first half of the year.

 

Staff Turnover 

1) The weighted average turnover rate rose to 5.9% in Q1 2019, increasing by 2.8 percentage points from the previous quarter. In Q2 2019, the figure rose further to 6.8%. The turnover rate in the first half of 2019 was 12.7%.


2) In terms of company size, large companies with 1,000+ employees recorded the highest turnover rate of 13.3% in the first half of 2019 while the lowest figure of 8.0% was recorded among companies with 100 to 499 employees.

3) When analysing turnover rates by employee level, Clerical / Frontline staff continued to record a significantly higher turnover rate of 18.4% than the other three employee levels (between 3.1% and 7.4%).

 

Staff Vacancy

1) The weighted average staff vacancy rate dropped in Q1 and Q2 of 2019 to 4.4% and 4.8% respectively. The average for the first half of 2019 was 4.6%. This is 5.7 percentage points lower than the same period in 2018.

2) Companies with 100 to 499 employees registered the highest average vacancy rate of 5.3% while small businesses with under 100 employees registered the lowest figure of 2.1%.

3) The highest average vacancy rate of 4.9% was registered among Clerical / Frontline staff during the first half of 2019. The corresponding figures of the other three job levels ranged from 3.5% to 4.2%.

 

Manpower Need 

1) The net growth in positions in the first half of 2019 was 0.5%.

2) When analysed by size of company, small companies less than 100 employees registered negative growth at -3.4% in the first half of 2019. Companies with 100 to 499 employees, on the other hand, reported stronger manpower need with a net growth of 1.0%.

3) In terms of employee level, the strongest net growth in positions of 3.1% was recorded among Supervisory / Officers employees. The corresponding figures of the other three levels ranged from 0.2% to 1.2%.

 

Staff Absence

In this round of the survey, 31 out of a total of 34 participating companies provided information on staff absence.

1) The weighted average absence rate in the first half of 2019 was 3.2%.

2) The highest figure of 3.3% was registered among large companies with 1,000+ employees and the lowest absence rate of 1.7% were reported by small companies with less than 100 employees and companies with 500 to 999 employees.

3) The highest average absence rate of 1.6% was recorded among Supervisory Staff / Officers while Top / Senior Management staff saw the lowest average absence rate of 1.0%. 

 

Hiring Intention in Second half year of 2019

A total of 34 companies responded to the question on hiring intention in the latter half of 2019.

1) Over half of responding companies (52.9%) indicated that hiring level would remain the same as in the first half of 2019. 14.7% claimed that their company planned to increase hiring while another 20.6% intended to exercise hiring freeze. The remaining 11.8% reported that there would be a reduction in hiring.

2) Small companies with less than 100 employees tended to be relatively more pessimistic as none reported an increase in hiring while 42.9% expected a hiring freeze in the second half of 2019. On the other hand, a two-third majority of large companies with 1,000 employees indicated that their organisations would remain at the hiring level of the first half of the year. 

 

 

[Download| Summary Findings]

The full report on Turnover Rate and Vacancy Rate in the first half of 2019 (in English) is now available for subscription at HK$600 for HKIHRM Members and HK$1,200 for non-HKIHRM Members.  

 

Alternatively, you are welcome to participate in the coming round of Survey of Manpower Statistics Survey.  All participants will receive a complimentary copy of the full report. Please click here to register.

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