Despite a global economic slowdown, especially due to slower growth in emerging markets, the technology industry continues its rapid pace of innovation, disruption and creating new ventures, according to Aon Hewitt.
In the next 12 months, technology companies globally are expected to increase the size of their workforce by 40%—internet, e-commerce and software sectors are to show the strongest hiring trends with 50% of companies expected to hire and half of those planning to increase headcount by more than 15%.
The most aggressive hiring is expected to be in the US, China and India. 10% of companies plan aggressive hiring in China, while close to 20% of companies plan similar hiring in the US and India. Singapore on the other hand will only see a moderate 6% of companies aggressively hiring. Such strong hiring expectations also brings larger turnover rates. Voluntary employee turnover is currently around 11% in the US and China and in India, it stands at 14%. Singapore will see a slightly lower rate of 10%.
Overall, salaries increases forecast for 2016 remain relatively consistent with 2015. In China, salaries are expected to rise between 8-9% in the technological sector while India will see between 10-11% and Singapore only 4-5%.
Paul Arkwright
Publisher
