Similar to last year, the hiring market across Asia in 2019 is expected to remain a candidate's market. Links International's 2019 Asia Salary Snapshot revealed 46% of employers across the region expect to increase hiring this year.
In line with that, the survey of over 700 of Links International's clients and candidates across the APAC region revealed that half of employers planned to increase salaries by 3% to 4% during the next salary review.
In Singapore, 69% of employers planned for a 0% to 3% salary increase, 25% envisioned a 3% to 6% increase, while 6% were willing to increase salaries by more than 6%. A similar situation can be seen in Hong Kong where 40%, 48% and 12% of employers planned to increase salaries by 0% to 3%, 3% to 6%, and more than 6% respectively.
Notably, the survey also pointed out that candidates are generally able to obtain a 10% to 20% increment if they moved job.
HR salaries and hiring trends for 2019
Zooming in on the human resources, administrative and secretarial functions, it noted that the hiring market remains candidate-driven. At the same time, candidates fluent in English and Chinese (Mandarin) are particularly in high demand; in line with the trend for companies to expand and relocate key roles into PRC continues.
To compete for high caliber candidates, apart from a faster and smoother interview process, many companies are looking to develop a full employer value proposition. In particular, focusing on delivering a positive culture, rewarding career opportunities and competitive remuneration packages to retain those high performers.
Top six HR roles with the highest expected income are:
- Regional HR directors with 10-15 years of experience are expected to be the highest earners across all markets. These directors can expect to earn more than S$17,000 in Singapore, more than HK$120,000 in Hong Kong, and RMB50,000 to RMB120,000 in China.
- Regional training directors with more than 10 years of experience. These directors can expect HK$50,000 to HK$70,000 in Kong Kong, and S$12,000 to S$18,000 in Singapore.
- Regional organisation development directors with 12 to 15 (or more) years of experience. These directors can expect HK$100,000 or more in Hong Kong and S$18,000 or more in Singapore.
- Organisation development directors 10-12 (or more) years of experience. These directors can expect HK$85,000 to HK$100,000 in Hong Kong and S$13,000 to S$18,000 in Singapore.
- HR managers and regional HR managers with six to 10 years of experience. These managers can expect HK$45,000 to HK$60,000 in Hong Kong, S$9,000 to S$17,000 in Singapore, and RMB30,000 to RMB50,000 in China.
- Regional compensation & benefits managers and directors with more than 10 years of experience. These directors can expect HK$70,000 or more in Hong Kong, S$17,000 or more in Singapore, and RMB50,000 to RMB80,000 in China.
Lead photo / 123RF Infographic / Links International