Michael Page International issued a statement Monday (March 5, 2012) announcing key details from its annual Michael Page China Salary & Employment Forecast for 2012. The study involved a national survey of the global recruitment consultancy's major clients in China (more than 370 employers from the country's corporate sector).
Key findings and projections include the following.
* “The majority of employers (84 percent) plan to award salary increases in 2012 at varying levels based on performance.”
* “Most employers (34 percent) will award a salary increase in the range of 8-10 percent, with a further 27 percent of employers offering increases between 6-8 percent.
* “49 percent of employers believe there will be a skills shortage over the next 12 months.”
Managing Director of Northern and Eastern China for Michael Page International, Andy Bentote, who was on hand to comment on his company’s report said: “While overall business confidence remains relatively high in China for 2012, an air of caution exists. Economic conditions in Europe and the US are expected to have an impact on hiring activity in China, resulting in overall steady jobs growth over the next 12 months.”
Bentote also said that candidates seeking employment in China will also be cautious in their job search. “Candidates are putting more thought into a potential change in employer and we are seeing an increasing focus on non-financial incentives offered by companies such as training and development opportunities,” he said.
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