Are Job Market Trends Shifting Again in 2022?
Suffering from the COVID-19 pandemic, many businesses slashed bonuses and froze salary increments in 2020/2021. Working professionals were also reluctant to move to new opportunities as a cautious attitude took over Hong Kong.
However, as businesses gradually adapted to the situation, we saw a strong economic recovery for most of 2021 and the job market fast turned into one of the most candidate favourable ones in recent memory. Offering flexible working has now become a minimum to attract the best talent as the trend towards “hybrid” working picks up momentum.
Our Salary Guide explores the changing work trends, performance of the job market, projected salaries and bonuses, and hot job roles!
Highlights from the 2022 Hong Kong Salary Guide:
- 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. Larger salary increments and bonuses have also returned as businesses fight for the best talent.
- HR roles are projected to be one of the big winners in 2022 after a very challenging 2021 and HR professionals can expect a 3-10% salary increment if they stay in their current role and 10-15% if they move jobs.
- With 41% of the global workforce now considering leaving their current employer within the next year as part of “the Great Resignation”, employers are finding it increasingly difficult to attract and retain talent as workers reassess their careers and personal priorities. Many leading corporations have taken their own approach to this trend but agree that a “hybrid” work model is the way forward.
- A boom in tech-related job roles in all functions caused by businesses rushing to digitalise operations and capture more of the increasingly important digital economy.
Download the 2022 HK Salary Guide for Free Now!
Businesses are transitioning to a new era as the future of work changes! If you are interested in seeing how different businesses are approaching the new world of work, which job functions are performing the best, or whether your salary is inline with the market, download our HK Salary Guide for free to find out now!
Looking for the best talent in Hong Kong? Talk to our consultants now to learn how our award-winning recruitment services can help!
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