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Employees in Hong Kong expect pay rise in 2013

Anuradha Shukla | July 20, 2012
Almost half will ask their current employer for a raise, according to a Michael Page International report.

Employees in Hong Kong expect pay rise in 2013, according to findings from the Michael Page International 2012/13 Employee Intentions report, Hong Kong.

Career progression is the main reason to change jobs for 37 percent of the respondents and 47 percent will ask their current employer for a raise.

Forty-two percent of the employees surveyed find the current job market as strong and about 40 percent of respondents are considering changing jobs within the next six to 12 months.

"The employment market in Hong Kong is healthy as a steady volume of jobs is driven by large Chinese companies and growing multinational corporations developing their regional operations across the territory," said Anthony Thompson, senior managing director, Michael Page International in Hong Kong and Southern China. "With the solid number of job opportunities, employers will need to look at the most appealing incentives to secure talented professionals."

Focus on retention

Michael Page International is a professional recruitment consultancy, which specialises in the recruitment of permanent, contract and temporary positions on behalf of the world's top employers.

The findings of the survey indicate that enterprises in Hong Kong should focus on retaining employees as 36 percent of those planning to ask for a pay rise in the next year will request an increase of between six percent and nine percent.

Thirty-seven percent of those who want to change roles said they are searching for a position that would help them progress in their careers.

"Employers will need to focus on retention and will be expected to enter into salary negotiations to keep their top talent; that is, individuals with the experience and knowledge to drive the business forward," said Thompson. "Similarly, for companies looking to hire skilled employees, based on the survey findings, job seekers will be looking for competitive remuneration and a career development plan."

 

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