According to the jobsDB Job Seeker Salary Report 2013—an online survey of 2,960 Hong Kong employees—almost 60% of Hong Kong workers have been offered a pay rise in 2013. However, the average rate is 4.8% which is a drop of almost one percent from last year indicating some caution in employers’ pay strategies. Yet in terms of bonuses the amount has been increased from 0.5 of a month’s pay to 0.8 of the same. Justin Yiu, General Manager of jobsDB Hong Kong commented, “I believe this slight growth indicates that overall business performance was not affected significantly last year despite economic uncertainties. Strong domestic demand has provided concrete support to the economy as a whole.”
High-growth sectors
Of the 18 business sectors surveyed the property/real estate sector reports the highest base pay increase at 6.4% which seems to be because the role of property practitioners has expanded significantly in recent years. In addition to property security and maintenance, property management professionals are required to oversee various building facilities. Meanwhile, the government is planning to introduce a licensing policy for this industry and employers are on the look-out for talents with hands-on experience. The next largest pay increase was in the marketing/PR sector where an average rise of 6% is expected, reflecting that businesses are willing to invest in attracting new customers. Yiu added, “With the advancement in internet technology, the demand for digital marketing professionals is particularly high.”
Workers’ gripes
Among those who changed jobs last year, nearly 60% claim that they have got a better job indicating good opportunities for change seekers. Findings over the past five years reveal that the reasons for workers seeking a move are: dissatisfaction with current salary/benefits –56%, slim prospects of advancement—38%, discontentment with company culture—30% and the knowledge that better opportunities are available—27%. There is strong confirmation that, as we enter the peak season for recruitment, the hiring intention remains positive with the number of vacancies posted on jobsDB having reached 50,000—representing a 25% increase since Chinese New Year.
Communication key
Yiu reminded employers of people’s tendency to change jobs following bonus pay-outs and offered the following advice to avoid turnover as far as possible, “Management should communicate with their subordinates to understand their work condition and career goals and offer guidance as needed. This is a good way to show the company’s care to employees.”
As for retention he suggested employers should take the following measures:
• Establish competitive compensation and benefit packages
• Offer a structured career path
• Build a good employer brand and work culture
Paul Arkwright
Publisher
