2020 New Year special: Trends shaping the HR sphere in Asia

2020 New Year special: Trends shaping the HR sphere in Asia

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With a new year, brings new beginnings and new trends influencing the way we work. In the HR sphere itself, countless reports have revealed interesting, thought-provoking trends that are set to shape the industry in 2020 and beyond.

In this special edition of the bulletin, we present to you the most popular trend stories centering around salaries, employee benefit priorities of employers, rising medical costs, and more.

1. Salary increases in 2019 and 2020: Asia Pacific outlook

With continuous pressure on businesses in the region to keep costs down, salary increases in APAC remain stable at an average of 5.6% this year (same as 2018), slightly lower than the projected increase of 5.9% last year, per the Salary Budget Planning Survey Report (Q3).

[Read the full story here]

2. World Economic Forum: Top 10 skills and workforce strategies in 2020

The World Economic Forum predicted current trends could lead to a net employment impact of more than 5.1mn jobs lost to disruptive labour market changes over the period 2015-2020, with a total loss of 7.1mn jobs.

[Read the full story here]

3. Expected salary increases in Asia Pacific for 2020

A total of 13 out of the top 20 increases in real salaries have been observed in Asian countries, with India, Vietnam, and Indonesia occupying the top three spots globally according to forecasted real salary increase for 2020.

[Read the full story here]

4. The top employee benefit priorities of Singapore employers for the next 3 years


A survey revealed this year found that employers in Singapore are now expanding their focus to address emotional, financial and social wellbeing, apart from simply focusing on physical wellbeing.

[Read the full story here]

5. Key recommendations for HR to note: NWC Guidelines 2019/2020


The NWC raised the basic wage threshold for low-wage workers in 2019/2020 from S$1,300 to S$1,400, to cover more employees within the quantitative guidelines.

6. HR directors in Singapore can earn S$300,000 or more in 2020


According to Robert Walters' 2020 Salary Survey, this places the role as the highest earning in the HR function. This was followed by directors of compensation & benefits, and talent management experts.

[Read the full story here]

7. Salaries in Malaysia set to increase by 5.3% in 2020

According to the Aon Malaysia 2019 Salary Increase & Total Compensation Measurement Survey, salaries in Malaysia are set to increase by 5.3% in 2020. This is slightly higher than the 5.1% actual average increases in 2019.

[Read the full story here]

8. The highest-paying HR roles in Indonesia, Malaysia, and Thailand in 2020


Professionals in these roles can expect to bring home an annual income of up to RP1,040mn, RM750k, and THB4.2mn, respectively.

[Read the full story here]

9. Malaysia expects the highest increase in medical benefit costs in APAC in 2020


Expecting the second-highest increase is Thailand, with 13.9%. On the other hand, China can expect to see the smallest increase at 7.5%.

[Read the full story here]

10. 2030 outlook: 6 trends shaping the future of boards in Asia


Board leadership must be ready for evolving contexts and the allowance for discomfort, and even failure to happen, says an Asia-based board director.

[Read the full story here]

Individual photos / 123RF & iStock Lead image / iStock

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