Want to Know About the Latest Employment Trends in Asia?
As most locations adapt to the impacts of COVID-19, we are seeing new employment trends arise!
Businesses in Hong Kong and Singapore are aggressively revamping their operations to meet the demands for “Hybrid Work”, as increasing challenges from a phenomenon known as the “Great Resignation” is affecting their ability to attract and retain talent. In Mainland China, businesses risk stagnation due to a hot issue affecting all industries known as “Involution”.
Our Asia Pacific Salary Guide explores these latest trends and studies how different businesses are approaching the new era of work.
Highlights from our 2022 Asia Pacific Salary Guide:
- With 41% of the global workforce now considering leaving their current employer within the next year as part of the “Great Resignation”, leading corporations have taken steps to attune to the trend. Although they are taking their own approach to the situation, they tend to agree that a “hybrid” work model is the way forward.
- Salary increments are projected to be strong in all locations and functions, ranging from 3-8%. For talent changing jobs, salary increments are expected to be around 10-35% depending on function and role.
Hong Kong
- A strong economic recovery combined with a shrinking talent pool in Hong Kong has resulted in one of the most candidate favourable Hong Kong job markets in recent memory. Job postings in Hong Kong increased over 75% from the start of 2021 to the highs in September 2021.
Mainland China
- China is tapping into its massive domestic market to drive its economic growth, however, increasing internal competition between workers is creating a stagnation risk for many companies, in a phenomenon known as “involution”.
Singapore
- Singapore’s Government support schemes like the SGUnited Jobs and Skills Package (SGUJS), Jobs Growth Incentive (JGI), and Jobs Support Scheme (JSS) have proven to be a success, helping place over 146,000 people in jobs and supporting over 58,000 businesses.
Want to Learn More About the Markets? Download the Asia Pacific Salary Guide for Free Now!
The world of work is changing. Business leaders and working professionals need to be up to date with the latest market trends to understand where the future of work is heading and tune their attitudes to the shift.
Our salary guide also covers projected salary increments, hot job roles, and overviews the performance of different functions in their location. Download for free now!
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