Fresh data from Link International’s 2022 Asia Pacific Salary Guide has revealed that those candidates aiming to change jobs in the coming year can expect to see a salary increment of up to 30%. Employees changing jobs in Mainland China can expect between an 8 – 29% increase whilst those in Hong Kong and Singapore could expect to receive an increase between 11 – 23% and 11 – 24% respectively.
Those employees who choose to remain with their current employer can also expect to receive an adjustment of between 3 – 9% across the same regions. Salaries in best-performing functions such as IT, Life Sciences and Healthcare are expected to be especially high due to businesses offering higher wages to entice the best workers from a small talent pool.
The report also examined new digital opportunities that have arisen as a result of the pandemic. Digital-related roles are in particularly high demand across also sectors with the most sought-after roles being finance transformation, business strategy, cloud architecture, HRIS and HR Mobility Specialists. On the other end of the spectrum, several roles continue to see a stark decline in demand including events marketing, executive assistant and operations accounting roles.
The report also touched on The Great Resignation and noted that 41% of the global workforce is considering leaving their current employer within the next year. As a result, businesses are examining their approaches to work and how they will attract talent in the future.
Companies in Mainland China are seeing a growing trend of increased internal competition between workers as they compete for limited resources dubbed ‘involution’ by the report. This has led to a stagnation of companies that are suppressing the promotion of outstanding talent and limiting creativity because of internal competition. The report notes that all industries are experiencing different levels of involution, it is a common issue that they will all need to address in order to sustain long-term growth.
Paul Arkwright
Publisher
