But only 1 in 5 employers will award more than 6% increases.
According to Hays, there still seems to be disconnect in the salary expectations of Hong Kong workers and what employers are offering. 17% of employers will award more than 6% increases, whereas 37% of candidates surveyed in Hong Kong are expecting more than 6%. On average, most employers in Hong Kong plan to award salary increases from between 3 to 6%.
“Employers need to balance the need to remain competitive on salary to attract new talent while managing salary budget for existing staff carefully. While employees’ salary expectations are fairly modest in Hong Kong, tensions could arise if salaries for new hires move up too fast,” says Christine Wright, Managing Director of Hays in Asia.
Across all Asian countries surveyed, 85% of employers provide staff benefits in addition to salary and bonuses. Health/medical remains the most commonly offered benefit (79% of employers) followed by life assurance (40%), a car allowance (34%), pension (31%), housing allowance (26%) and club or gym membership (16%).
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