• Follow Us On : 

Technology Companies in Asia-Pacific Plan for Robust Salary Increases in 2019


Redaksi | Sabtu,10 November 2018 - 03:14:57 WIB
Dibaca: 171 kali 
Technology Companies in Asia-Pacific Plan for Robust Salary Increases in 2019
  • Salary budgets are expected to increase in China, India, Japan and South Korea in 2019, but remain flat at 4.0% in Singapore
  • The prevalence of technology companies across Asia-Pacific with aggressive hiring plans rose for the second consecutive quarter. In Singapore, the percentage of technology companies that plan to hire aggressively increased to 4.9%

SINGAPORE - Media OutReach - 9 November 2018 - Salary increase budgets at technology companies are expected to increase in China, India, Japan and South Korea in 2019 according to new data from Radford, a division of the rewards solutions practice at Aon plc (NYSE: AON). In Singapore, salary budgets are expected to remain flat at 4.0% in 2019. The fast-growth, developing markets of China and India report the highest increases in salaries at 7.8% and 10.5%, respectively.

Median Overall Salary Increase Budgets

Market

2018 Actual

2019 Planned

Australia

3.4%

3.3%

China

7.2%

7.8%

Hong Kong

4.2%

4.0%

India

10.4%

10.5%

Japan

2.8%

3.0%

Singapore

4.0%

4.0%

South Korea

4.6%

4.8%

Taiwan

4.0%

4.0%

Source: Radford Global Technology Survey Quarterly Workforce Trends Report, Q3 2018

Meanwhile, technology companies across Asia-Pacific also report increasingly optimistic hiring plans despite battling high employee turnover at the same time. The prevalence of technology companies reporting aggressive hiring plans-- defined as actively planning and recruiting for organisational growth-- increased during the third quarter of this year in five of eight key Asia-Pacific markets.

In Singapore, the percentage of technology companies that plan to hire aggressively increased for the second consecutive quarter to 4.9%. Companies reporting aggressive hiring plans in India saw the biggest jump with an increase from 16.8% in Q2 2018 to 21.1% in Q3 2018.

Percentage of Technology Companies Reporting Aggressive Hiring Plans

Market

Q2 2018

Q3 2018

Australia

6.9%

5.9%

China

9.2%

8.6%

Hong Kong

1.8%

2.4%

India

16.8%

21.1%

Japan

4.0%

4.8%

Singapore

4.4%

4.9%

South Korea

2.2%

2.9%

Taiwan

2.5%

1.2%

Source: Radford Global Technology Survey Quarterly Workforce Trends Report, Q3 2018

Voluntary employee turnover-- another key metric on the health of the overall technology sector-- is up for the past quarter in six out of eight markets. Voluntary employee turnover is highest in Australia at 13.8% followed by China (13.7%), Singapore (13.2%) and India (12.6%).

Average Voluntary Employee Turnover at Technology Companies

Market

Q2 2018

Q3 2018

Australia

12.8%

13.8%

China

12.4%

13.7%

Hong Kong

10.9%

12.2%

India

12.7%

12.6%

Japan

10.1%

9.7%

Singapore

12.0%

13.2%

South Korea

8.4%

8.5%

Taiwan

9.2%

10.2%

Source: Radford Global Technology Survey Quarterly Workforce Trends Report, Q3 2018

While salary increase budgets are forecasted to be up in several markets, merit increases alone won't be enough to hire, engage and retain talent in a hot labor market. "Companies must assess what jobs are needed for future growth and hire for those roles in a competitive marketplace while also engaging and retaining their current talent when many other job opportunities exist. Businesses with a voluntary turnover of above 10% should evaluate their employee value proposition and talent practices carefully" says Alexander Krasavin, Partner and Radford Leader for Asia Pacific, Middle East, and Africa.

About Radford
Radford partners with technology and life sciences companies to reimagine their approach to rewards, empowering them to achieve superior levels of people and business performance. Radford is part of Aon plc (NYSE: AON). For more information, please visit radford.aon.com.

About Aon
Aon plc (NYSE:AON) is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance. For further information, please visit aon.com.


Akses Wahanariau.com Via Mobile m.Wahanariau.com
Untuk Berbagi Berita / Informasi / Peristiwa
Silahkan SMS ke nomor HP : 085271472010
atau email ke alamat : [email protected]
Harap camtumkan detail data diri Anda
Pengutipan Berita dan Foto, Cantumkan Wahanariau.com Sebagai Sumber Tanpa Penyingkatan
TULIS KOMENTAR
BERITA TERKAIT
Kamis,13 September 2018 - 04:10:20 WIB

Accounting and Finance Show Asia (16 – 17 October 2018) - Showcasing The Latest Technology & Solutions by Experts

SINGAPORE - Media OutReach - 12 September 2018 - A survey by Xero, the glob

Rabu,31 Januari 2018 - 20:06:12 WIB

Avnet signs MOU with the Hanoi University of Science and Technology to Launch IoT Masterclass Series for Engineering Students

HANOI, VIETNAM - Media OutReach - JANUARY 31, 2018 - Avnet Asia Pte Ltd signed a Memorandum of

Rabu,15 Agustus 2018 - 14:20:48 WIB

Alpha7, a Singapore Cloud Technology Company, Raises Over US$5.2 Million in Private Funding

• Business Digital dashboard A7 IoB® allows user to customize KPIs that matters to the

Rabu,19 September 2018 - 06:28:57 WIB

SingularDTV Asia Crypto Artist Music Tour Proven a New Way to Embrace Entertainment Technology Empowered by Blockchain

CHINA - Media OutReach - 18 September 2018 - The business model of the music industry is n

Senin,15 Oktober 2018 - 00:03:36 WIB

Cushman & Wakefield Releases Research on Innovation and Technology Development and Property Opportunities in the Greater Bay Area

Development of Innovation & Technology in the Greater Bay Area Hinges on "Joint Forces

Sabtu,11 Agustus 2018 - 03:17:50 WIB

Technology Companies in Asia-Pacific Raise Hiring Expectations

* The percentage of technology companies in Singapore that plan to hire aggressively increased by 29

BERITA LAINNYA
Kamis,17 Januari 2019 - 19:41:28 WIB

China Dongxiang Achieves Growth In Retail Performance And Same-Store-Sales For 4Q2018

HONG KONG, CHINA - Media OutReach - 17 January 2019 - The leading international

Kamis,17 Januari 2019 - 19:35:56 WIB

Nearly Half Of Asia Pacific Enterprises Are Proceeding On A Hybrid Cloud Pilot Without A Formal Strategy, NTT Communications Warns

HONG KONG, CHINA - Media OutReach - 17 January 2019 - NTT Communications Co

Kamis,17 Januari 2019 - 19:31:13 WIB

Surf’s Up As Leading Sydney Prime Broker Opens Shop In Hong Kong

HONG KONG, CHINA - Media OutReach - 17 January 2019 - Riding a wave of grow

BERGABUNG DI SINI
KABAR POPULER
IKUTI BERITA KAMI