Introducing our eleventh salary guide is one of my early duties as the new Managing Director of Hays Asia. I am so impressed with the quality and depth of the insights provided by our clients, candidates and dedicated team across Asia to produce this guide.
I took up my new role in November 2017, but have been working for Hays since 1988 in the UK and Ireland. While Europe is facing some interesting times ahead, it’s hard to imagine a more dynamic part of the world to work in than Asia.
Our 2018 Hays Asia Salary Guide provides an important snapshot of the key factors influencing the region’s recruitment market over the year ahead. Our insights point to risks and opportunities for employers and candidates alike as they navigate changing conditions.
On the plus side, a higher proportion of employers in all countries expect increased levels of business activity in 2018. The vast majority of employers are concerned about the impact of skill shortages, yet most plan fairly modest salary increases.
It’s interesting to note that many of the “in demand” candidates we surveyed plan to leverage their power to secure salary increases of 15 to 20 per cent and in some cases 30 to 40 per cent.
I also note that levels of unpaid overtime are up in all countries but Japan where levels of paid overtime increased, yet candidates rated work life balance above salary when asked what makes them stay with an employer.
In answer to a new question this year, most candidates told us they are confident the skills they have today will still be current in five years time. Interesting to note that our research also shows candidates are spending less of their own time on professional development. Another opportunity? Certainly our research shows career development rates well as both a pull and a push factor.
I look forward to discussing the full range of issues shaping the talent market in Asia with many of you soon.
Richard Eardley – Managing Director Asia