Commentary on Sales Roles and Remuneration in Hong Kong for 2019
2019 Sales Salary Guide Hong Kong
The demand for sales professionals in Hong Kong continues to grow across all sectors from tech, telecommunications and professional services to retail, finance and FMCG.
As companies strive to set themselves apart from the competition, we see new, innovative products and services entering the market. The recruitment of sales professionals with strong networks and those possessing “hunter” sales skills will remain in high demand.
In-demand Roles, Skills and Qualifications for Hong Kong Sales Professionals
The Hong Kong sales recruitment market has always shown a high demand for successful “hunter” sales professionals. Candidates with the ability to identify new clients and expand the market reach of an organisation are rare, and companies remain eager to add these talents to their roster. Those with the ability to solicit, generate and acquire new business – particularly those possessing a track record of doing so – will continue to be the most sought-after sales professionals in the Hong Kong market.
The IT, telecommunications and FinTech sectors are all moving fast and have experienced rapid growth in recent years. 2018 saw new technology trends such as big data, artificial intelligence and cloud computing change the landscape. This gives sales professionals the opportunity to carve out new niches and take hold of a specialism to generate sales and add value to businesses. Overall, successful sales candidates remain those who can quickly catch up with technological changes, thrive in fast-paced working environments and bring expert knowledge and relevant networks to the table.
Workplace Trends Impacting Sales Professionals in Hong Kong
The emergence and growth of internet and mobile businesses, as well as startups, is driving a change in workplace culture across Hong Kong. Increased working hour flexibility and the opportunity to work from home are trends set to continue their upward trajectory. As more companies realise that taking a flexible approach not only boosts morale and productivity but reduces turnover, perks and a commitment work-life balance will increasingly become a strategy to attract the best talent.
While it is good news that unemployment in Hong Kong is at its lowest for many years – just 2.8 percent in Q4 2018 – from a hiring perspective, the war for sales talent is expected to become increasingly intense. The environment for sales workers is one of opportunity, as unemployment stays low and demand for talent driven by emerging industries continues to rise. With hiring managers becoming more open-minded towards new hires, more companies are considering part-time or a contingent workforce to fill the talent deficit.
What Does the Future Hold for Sales Professionals? Predictions for 2019 and Beyond
A key skill for sales professionals in 2019 will be online business knowledge. There will be high demand for candidates working within or for e-commerce businesses and e-tailers in fashion, beauty, consumer electronics, FMCG, as well as travel and finance. Candidates that set themselves apart will have a clear understanding of business models and the particular pain points of running a business. Since many major e-tailers and e-commerce players are coming from the Greater China area, companies will be increasingly keen to hire candidates with a network in Greater China for their 2019 hiring.
A major challenge for companies comes in the form of different payment and tech system barriers between Hong Kong and Greater China. Candidates that possess the knowledge to help organisations bridge this gap and overcome sales barriers will be a major asset in 2019.
Overall, salaries will remain stable in 2019. The general market can expect to see an increase of 3 - 6 percent for salary reviews and adjustments. Job movers can expect this to increase 10 - 20 percent when switching between organisations and those with specialist digital and tech-related skills can command a salary increase of around 30 percent.
All Figures shown are in HK$
Source: Morgan McKinley Salary Guide 2019