Preparing for salary review
Almost a quarter of Hong Kong’s workforce can expect a salary increase above 6 per cent this year, according to our 2012 Hays Salary Guide.
Listing your achievements and proving your value to the business are two steps towards ensuring you join this group at the top and maximise the value of your next salary increase.
The 2012 Hays Salary Guide reveals salary and recruiting trends for 1,000 roles across Hong Kong, mainland China, Singapore and Japan.
It found that 60 per cent of employers in Hong Kong intend to increase salaries between 3 and 6 per cent when they next review. A further 24 per cent will increase 6 per cent. However, 10 per cent of employers intend to increase salaries by less than 3 per cent, while 6 per cent intend to offer no increases.
We believe Asia remains a bright spot in the global economy but that doesn’t mean salary increases will be automatic. You still need to research and prepare to ensure you gain the maximum increase of the available salary pool this year.
There are several steps you can take to prepare for your next salary review meeting. Next week we will take a detailed look at these steps, such as preparing a list of your achievements beneficial to the company and discussing your performance with your manager.
Marc Burrage, regional director, Hays in Hong Kong