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back to index backASIAtalk August,  2005

Hiring outlook optimistic for Asian nations

Almost 2500 executives in seven key industries across China, Japan, Hong Kong and Singapore have expressed a high level of confidence in their hiring expectations.

The Hudson Report indicated that year on year all the markets surveyed show an increase in hiring expectations compared to this time last year. China has the highest proportion of companies planning to increase headcount (56.9%) and there is considerable optimism in Japan. In Hong Kong, employment expectations have risen by one-third since the first quarter in 2004 from 37.1% to 49.5%. Also, companies are increasing both salaries for new hires and bonuses for existing staff, with 69% of companies in Japan paying bonuses of 6% or more.

In China, an increase in headcount is expected, with less than 1% of companies planning to downsize. In Japan, 50.2% of companies surveyed are planning to increase headcount in the first quarter. In Singapore, the overall trend is upwards, with 41.2% of employers expect to increase headcount in Q1.

China has the highest anticipated rises for new managerial hires. Whereas 33.2% of employers expect to pay 6-10% more, 23.9% think rises will be in the 11-20% range and 15.8% expect that they will have to increase pay by 21% or more. Of the companies surveyed in Hong Kong, 75.8% anticipate having to increase pay to attract new managerial staff. Salary inflation is lower in Japan than in the other markets.

Chinese employers are taking the most generous approach to bonuses. Only 6.8% of employers are not planning to pay a bonus at all, whereas 27.5% of Japanese employers are planning not to pay a bonus. In Singapore and Hong Kong, the growing optimism of companies is reflected in their bonus payments. About 20.3% in Singapore are expecting to pay bonuses within the 11-20% range. In Hong Kong, 86.5% of those surveyed are planning to pay bonuses.

Source: Human Capital Asia - GAI

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