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AGENDAAbout Michael Page
About the Michael Page 2015 Greater China Salary & Employment Outlook
Factors impacting the recruitment market in Greater China
Key findings: Michael Page 2015 Greater China Salary & Employment Outlook
Summary
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ABOUT MICHAEL PAGEAs part of PageGroup, Michael Page is a leading professional recruitment
consultancy specialising in the recruitment of permanent, contract and
temporary positions on behalf of the world’s top employers.
Established in 1994 in Hong Kong
Opened in Shanghai in 2003
Asian market leader by size, profit, and office footprint
17 offices
Regions: Mainland China, Hong Kong, India, Japan, Malaysia, Indonesia, Singapore and
Taiwan
Over 800 people
Over 20 years of success in Hong Kong and 10 years in Mainland China
ABOUT THE MICHAEL PAGE2015 GREATER CHINA SALARY & EMPLOYMENT OUTLOOK Annual report covering the latest hiring expectations, recruitment challenges and salary forecasts
for the coming year.
In 2015, we present the first regional outlook for Greater China.
Report incorporates:
Findings of an online survey of more than 2,000 employers
Interviews with Michael Page subject matter experts
Discussions with human resources directors
Interview with Shaun Rein, founder of China Market Research Group & author of The End of
Copycat China
Interview with Dr. Clint Laurent, founder and Managing Director of Global Demographics
In-depth, holistic research establishes the Salary & Employment Outlook as a highly reputable
report.
KEY FACTORSIMPACTING RECRUITMENT IN GREATER CHINA1. Employee turnover is being driven by the desire to increase salary.
2. Alternative, non-financial rewards are gaining importance as employers resist large salary hikes.
3. Soft skills such as commercial acumen and communication skills are increasingly important to
employers.
4. A shift from a manufacturing-led to a services- and consumption-led economy is underway.
5. Chinese employer brands are growing in prominence, leading to improved company culture.
KEY REPORT FINDINGS
HIRING ACTIVITY IS ROBUST ACROSS THE REGION
Most surveyed employers in
Greater China report that hiring
activity is stronger than in the
last 12 months. 47% of
employers across the region
report that recruitment activity is
stronger or slightly stronger than
the past 12 months.
Just over half of employers in
China (53%) plan to increase
headcount this year, as
compared to 51% in Hong Kong
and 63% in Taiwan.
Strength of current hiring activity compared to the last 12 months
MAINLAND CHINAGREATER CHINA
SALARY CONCERNSARE DRIVING TURNOVER Salary is the biggest factor of
employee turnover across
Greater China, with 36% of
employers attributing it as the
main reason for attrition.
Mainland China follows the
trend, with 35% of employers
reporting the same.
21% of employers in Greater
China believe employees leave
in order to broaden their
professional experience in the
region. Again, mainland China
mirrors this.
Professionals changing jobs can
expect higher pay increases in
mainland China, moderate pay
increases in Hong Kong and
norminal pay increases in
Taiwan.
Key reason for employee turnover
GREATER CHINA MAINLAND CHINA
FINANCIAL REWARDS AND ALTERNATIVERETENTION STRATEGIES
The vast majority of surveyed
employers (84%) across
Greater China are offering
bonuses as part of the
remuneration package. In
China, this is higher, at 85%.
The majority of bonuses will be
6-10% in both Greater China
and mainland China.
On the mainland, talented
professionals know they can
command a significant salary
increase each time they change
jobs, and so are generally more
willing to move for a short-term
gain.
Companies providing bonuses as part of employee remuneration
GREATER CHINA MAINLAND CHINA
FINANCIAL REWARDS AND ALTERNATIVERETENTION STRATEGIES
Employers are increasingly
offering alternative rewards
such as career
development programs.
Jobseekers today want to
know if company has a
strategy, invests in its
people, has a good
reputation and has a safe,
professional working
environment.
Average percentage of bonuses that companies will award
GREATER CHINA MAINLAND CHINA
SALARY INCREASES ACROSS THE REGION
Employers in Mainland China will take the lead when it
comes to awarding salary increasesIn mainland China, 61% of employers plan
to offer salary increases of 6-10%.
The majority of employers in Hong Kong
(65%) expect to offer salary increases of 1-
5%.
In Taiwan, like Hong Kong, most employers
(65%) expect to offer between 1-5%.
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EXPECTED SKILLS SHORTAGES ACROSS THE REGION
Employers expect a shortage of professionals
with experience in the following areas:
1. An overall shortage of talent is creating
upward pressure on salaries.
2. Soft skills are of increasing importance,
with employers looking for candidates with
communication and presentation skills,
commercial acumen alongside those who
think laterally.
3. Bilingual Chinese speakers who have
worked at multinationals and spent time
abroad are highly sought after by
employers in mainland China.
SUMMARY1. Hiring activity is picking up - most surveyed employers in Greater China report
recruitment activity is stronger now than in the last 12 months.
2. Salary concerns are driving turnover across the region.
3. Employers are turning to non-financial rewards as a retention strategy.
4. Salary increases across the region are typically 1-5%.
5. Soft skills are increasingly sought after by employers.
Download the full report here.
For further enquiries, please contact us at: • Hong Kong: http://www.michaelpage.com.hk/contact-us• China: http://www.michaelpage.com.cn/contact-us/shanghai-puxi• Taiwan: http://www.michaelpage.com.tw/contact-us.html
2015 GREATER CHINA SALARY & EMPLOYMENT OUTLOOK