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China’s employment market has not slowed by the collapse of the stock market and depreciation of the RMB. In the second quarter (Q2) of 2015, the job market remained strong, with more employers willing to provide competitive salary packages compared to Q1.
According to the 2015 Q2 RMG Recruitment Insider Report by RMG Selection, 41% of new recruits were offered pay increases of between 5-10% compared with their previous positions, up from 40% in the first quarter.
Another 14% of new staff got pay rises of between 10-20% in the second quarter, compared with 12.1% in the first; while 6% of new hires reported receiving salary increases between 20-30%, up from 3.8% in the previous quarter.
The report was compiled by talking to 1,600 HR managers, line managers and C-level executives working in more than 10 cities across 20 industries in China, about headcount, salary, and employment.
Overall recruitment demand in the second quarter was 90.8%, similar to the first quarter at 92%.
Medical, logistics and internet sectors are top on the list of hot openings in the job market.
RMG Selection chief executive Robert Parkinson also said there was huge demand in the logistics, technology, health care and legal sectors in Q2 after some employers put recruitment on hold in the first three months of the year because of Lunar New Year.
“The technology sector is always an important part of China’s growth prospects, and companies are more willing to pay to retain or attract young talent,” Parkinson said.
Sales, marketing and product management were, however, still the top 3 job specialisms that had the highest talent demand, which are 62%, 50% and 40% respectively.
While the Internet industry has the highest recruitment demand, product management talent is in short supply especially in the automotive industry.
“Due to severe talent competition in the automotive industry, over 14% of new recruits could have large pay rises of more than 20%,” Parkinson said.
On the other hand, the hiring needs in various manufacturing industries remain at the lowest level, with 20% of firms not having any new open positions.
Multinational corporations were found to be the more generous employers, offering 20% more high-paying jobs at RMB 10,000 per month, compared to state-owned enterprises in terms of the scale of high-paying job volume.
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