PwC Hong Kong Workforce Lead Partner Michael Cheng (left) and PwC Hong Kong Advisory Consulting Financial Services Leader Albert Lo (right) attend a press briefing to introduce the result of the Hong Kong Workforce Hopes and Fears Survey 2023 on Aug 16, 2023. (OSWALD CHAN / CHINA DAILY)

Hong Kong employees have lower levels of job satisfaction, are slower to recognize the environmental, social and governance (ESG) agenda, and are less likely to expect significant changes to the job skills they need, according to a survey released on Wednesday.

The survey of global business advisory firm PricewaterhouseCoopers interviewed 1,000 employees in Hong Kong from different industries, including technology, media and telecom; consumer services; and financial services.

Hong Kong employees are slower to recognize the relevance of sustainability, with 43 percent of respondents saying they disagree with or are indifferent to the notion that their employer has a responsibility to take action against climate change

In the survey, 39 percent of respondents from Hong Kong indicated they are satisfied with their jobs, which lower than their Asia Pacific (57 percent) and global (56 percent) counterparts. Employees in Hong Kong feel less fairly compensated financially for their labor (35 percent), compared to 46 percent in Asia Pacific and 42 percent around the globe.

READ MORE: Chinese enterprises are embracing ESG to promote high-quality development 

Regarding job upskilling, only 28 percent of those interviewed from Hong Kong said they believe their job skill requirements will change significantly in the next 5 years, while another 29 percent said their employers provide opportunities for developing future job skills.

Hong Kong employees are slower to recognize the relevance of sustainability, with 43 percent of respondents saying they disagree with or are indifferent to the notion that their employer has a responsibility to take action against climate change.

“Hong Kong is a relatively mature economy so the need to cultivate future job skills may be less urgent,” said Albert Lo, advisory consulting financial services leader at PwC Hong Kong.

Lo added that every industry has different perceptions regarding future job skills cultivation, and in the future, PwC may conduct another study to assess how different industry structures impact employee perceptions regarding the cultivation of new job skills.

“Hong Kong companies also lack the concrete road maps for how to deal with the ESG agenda so employees’ perception in this (area) is low. Business leaders and employers should be transparent in promoting awareness and understanding across ESG issues, and consistently communicate the business strategy to ensure employees can confidently get on board for the sustainability journey,” said Lo. 

READ MORE: ESG a key focus for Chinese mainland, HK firms

The survey found that 76 percent of Hong Kong employees embrace the hybrid working model, significantly higher than Asia Pacific (59 percent) and global (54 percent) employees. They anticipate artificial intelligence will have a positive impact on their jobs, aligning with Asia Pacific and global responses.

“Business leaders and employers are encouraged to experiment with different modes of working to support workplace flexibility, in addition to utilizing AI, while increasing opportunities to upskill,” PwC Hong Kong Workforce Leader Michael Cheng said.

In the next 5 years, PwC China will invest 3 billion yuan ($411 million) in AI technology and work with the technology ecosystem stakeholders in the Chinese mainland and Hong Kong to deliver technology-powered solutions for clients, while simultaneously maintaining strict regulatory compliance in the AI framework, and the responsible and ethical application of AI.