asia braces for change: tailoring talent …my/@content/... · asia braces for change: tailoring...
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ASIA BRACES FOR CHANGE:TAILORING TALENT STRATEGIES FOR UNCERTAINTYWelcome to the launch of the 2017 Hays Salary Guide
A CAUTIOUS ECONOMIC OUTLOOK
11%
28%
61%
Decrease
Remain thesame
Increase
33%
51%16%
Weakening
Static
Strengthening
Expected business activity across Asia General outlook for the economy across Asia
45%in Malaysia expect static conditions
63%in Malaysia expect an increase
-5%
3-6% SALARY INCREASES WERE THE NORM IN ASIA
0
3-6% 50% in Malaysia gave between 3%- 6%
10% in Asia never gave an increase
3% 58% in Japan gave up to 3%
MOST EMPLOYERS IN MALAYSIA WILL AWARD 3-6% INCREASES
BUT… 50%of candidates in Malaysia expect more than 6%
36%of employers in Malaysia will give more than 6%
% SALARY INCREASES FOR THE YEAR AHEAD
between 6%-10% in China
up to 3% in Japan
between 3-6% in Hong Kong and Singapore
CANDIDATE CONFIDENCE IN ASIA
anticipate moving within six months25%
anticipate moving within 12 months20%
interested in learning about a new opportunity 46%
+4%
actively looking for a new job34%-10%
65% OF EMPLOYERS IN ASIA OFFER BONUSES
a further 28%offer up to 10%
in Malaysia, 33%offer between 11-50%
BUT…56% of candidates in Malaysia are not happy with their total compensation package
85% OF EMPLOYERS IN ASIA OFFER BENEFITS
Most popular in Malaysia are:
Flexible working hours/compressed working weeks
Flex-place, such as working from home
Part-time employment
Car/car allowance
Life assurance
Popular flexible working benefits:
Club/gym membership
DIVERSITY POLICIES
52% said they have a diversity policy in place
18% said they are adhered to ‘well’’
36% said they are adhered to ‘fairly well’’
31% OF WOMEN IN MANAGEMENT POSITIONS IN ASIA
Malaysia
35% 35%China
33%Hong Kong
31%Singapore
22%Japan
-2%
SKILL SHORTAGES CONTINUE TO BURDEN EMPLOYERS
96%
said skills shortages have the potential to hamper effective operations
36%
don’t have the talent needed now to achieve business objectives
59%
of employers would consider sponsoring an expat
-6%
ACCOUNTANCY & FINANCE
• Jobs growth thanks to Malaysia’s positioning as a shared services hub
• The introduction of the goods and services tax in 2015 continues to create new openings
• Replacement hiring will be prevalent throughout the year
• Hiring managers placing greater emphasis on candidates’ soft skills
BANKING & FINANCIAL SERVICES
• Demand high for relationship managers, client and credit professionals
• Malaysia’s Islamic finance industry continues to grow in terms of product lines and market share
• Fintech continues to grow in Malaysia
HUMAN RESOUCES
• Healthy hiring activity at all levels
• Organisations committed to making employee retention and engagement a key priority for 2017
• C&B candidates will be in high demand
INFORMATION TECHNOLOGY
• Jobs boost thanks to digital transformation
• Software developers with C++, .Netand Java language skills highly sought after
• IT contracting becoming an increasingly popular option for candidates
• Organisations reviewing salary packages to stop exodus of talent from critical projects
MANUFACTURING & OPERATIONS
• Candidate attraction will pose challenges for employers
• Overall candidate market is rich but restructuring of remuneration and benefits packages is a must
• Foreign start-ups targeting candidates with a strong background in project management
• Significant talent acquisition across medical devices, pharmaceuticals, chemicals and food manufacturing
OIL & GAS
• Contraction in labour market due to lack of new field development projects
• Many oil and gas companies looking to move operations from Singapore to Kuala Lumpur
• Hope remains the oil price will recover throughout the year
SALES & MARKETING
• Organisations will target candidates with strategic niche skill sets
• Salary structures will be reviewed in an attempt to attract high-level hires
• Business development roles within FMCG will be key growth areas in 2017
FOOD FOR THOUGHT
Plan your business strategy & talent pipeline simultaneously
Evaluate & enhance talent management practices
Open lines of communication
Develop smarter training programs
Future-proof against skill shortages