Salary windfall as more firms expect to raise pay
Print Edition
WORKERS in China’s mainland are in for a salary windfall this year as more employers are looking to raise pay to attract talent, recruiter Hays said in a survey yesterday.
Half of the employers said they are raising salaries by 6-10 percent this year, and another 20 percent said they are aiming for over 10 percent increase, showed the Hays Asia Salary Guide survey covering about 1,000 mainland employers.
The proportion of employers expecting to raise salaries by over 6 percent rose 3 percentage points from last year’s survey, Hays said.
This pace of expected salary rises put the Chinese mainland first among major Asian economies such as Malaysia, Hong Kong, Singapore and Japan covered by the survey.
“Our guide shows that hiring expectations remain steady across Asia,” said Christine Wright, managing director of Hays in Asia. “Salary increases in China are the most generous of the countries surveyed in our guide. Interestingly, employers are also offering extra benefits to help secure their preferred candidate.”
However, the survey found a huge gap between employers’ offers and staff expectations as nearly 90 percent of workers on the mainland said they hope to get pay increases of over 6 percent.
The gap was partly confirmed by a Zhaopin.com survey, also released yesterday, that showed employees on the mainland were unhappy about their year-end bonus and 40 percent of them said they want to change jobs this year.
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