Greater China’s employment market is expected to soar in 2015 as new survey results reveal over half of employers throughout the region plan to hire new staff over the next 12 months. Michael Page’s new Salary and Employment Forecast Outlook for Greater China identifies optimistic attitudes on hiring among employers in the markets of mainland China, Hong Kong and Taiwan.
Anthony Thompson, Regional Managing Director, Michael Page Greater China commented, “The outlook for 2015 shows there is steady growth in the labour market across the region. With rising salaries and a talent shortage, employees will be the winners on the labour market in the coming year.”
Survey results reveal Hong Kong’s employment market is buoyant, with junior professionals in the banking and finance sector being highly sought after for the first time since the financial crisis. Additionally, there is a need for sales and marketing professionals across multiple sectors.
Employee turnover is still driven by monetary reasons as over a third of surveyed employers report the main reason their employees leave the company is to increase their salary. Survey results show employers are responding to higher salary demand by increasingly offering alternative rewards such as career development, recognition and rewards and a strong company culture.
“As the region continues to be a global player, local companies are increasingly competing for professionals on the same terms as multinational companies,” said Thompson. “Companies in Greater China are making heavy investments in finding and retaining talent and this trend will continue for the foreseeable future. Employers with a clear purpose and strategy, who invest in their people and who have a good reputation with a strong employer brand will be the winners in the future Greater China labour market.”
Paul Arkwright
Publisher
