1、RISING ABOVE CHALLENGES:POWERING GROWTHTHE 2024 HAYS ASIASALARY GUIDEMARC BURRAGEMANAGING DIRECTOR,HAYS ASIAFOREWORDINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT US2024 HAYS ASIA SALARY GUIDE01A CRITICAL CASE FOR OPEN CONVERSATIONS AND GROWTH MAPPING REGARDLESS OF THE UNCERTAIN

2、TIESIn the face of subdued economic growth forecasts in 2024,organisations are bracing for a consequential impact on recruitment activity.Despite this,the issue of skills shortages is expected to persist,exacerbated by the disruptive influence of technologies like Artificial Intelligence(AI)which bu

3、sinesses and consumers alike have begun to embrace.Among internal hiring and human resources teams,76%of practitioners across Asia support the use of AI tools to perform their work tasks.However,the underlying sentiment is that more needs to be done to address concerns of bias that such technology b

4、rings to the table.Amidst these challenges,there has been a notable shift in employee priorities over the past year.Factors such as career progression and a desire to be challenged at the workplace have risen to prominence,surpassing salary as the primary motivators for employees to leave despite in

5、creasing financial pressures.Additionally,employees have revised their salary expectations downward,with a growing proportion of workers anticipating smaller raises in 2024.Although uncertainties seem unavoidable,it is important to recognise that the workforce is keen to contribute towards the busin

6、esss survival as well as their own.Employees are generally tuned into economic uncertainties and are still looking for opportunities to grow through these challenges.Therefore,when employers rally their teams with well-defined challenges,everyone will be better equipped to move forward together.As b

7、usinesses adapt to evolving technologies,the importance of skills development has heightened,particularly for workers grappling with the possibility of AI necessitating that they update their skillsets.While the need for upskilling has remained unchanged over the years,it has become critical in a ti

8、me where the availability of candidates possessing niche skills remain low.56.4%of respondents across Asia either disagree or are unsure if they are sufficiently equipped with the required AI skills to succeed in their current roles over the next 3-5 years.Training and development can serve as a pat

9、hway to mitigate talent shortages and enhance retention rates.If there is one takeaway Id like readers to have from this publication,it would be for leaders to have these discussions with their workforce,and for employees to examine how they can enhance their value in thisperiod of disruption.Collab

10、oration is the key to survival,and both parties will need to face these challenges with open minds and a willingness to adapt.2024 HAYS ASIA SALARY GUIDE02ABOUT THE GUIDEREGION SPOTLIGHTKEY INSIGHTS ON THELABOUR MARKET IN 2024LABOUR MARKET TRENDSHiring outlook and challengesEmployee career developme

11、nt plans Remuneration trendsEmployer value propositionAI,Skill set and developmentINDUSTRY BREAKDOWN INSIGHTS AND SALARIESAccountancy&Finance Banking&Financial ServicesConstructionEngineeringHuman ResourcesInsuranceLegalLife SciencesMarketing&DigitalOffice ProfessionalsPropertySalesSupply Chain&Proc

12、urementTechnologyABOUT USContact Us034305567799859CONTENTDisclaimer:The Hays Asia Salary Guide is representative of a value-added service to our clients and candidates.While every care is taken in the collection and compilation of data,the guide is interpretive and i

13、ndicative,not conclusive.The information in this guide should be used as a guideline only and may not be reproduced in whole or by section without written permission from hays.FOREWORD01METHODOLOGYOur Salary Guide insights are based on a survey conducted online in English,Chinese,and Japanese langua

14、ges,across six weeks in late 2023.It was completed by a representative sample of n=8,525 professionals from China Mainland,Hong Kong SAR,Japan,Malaysia,Singapore,and Thailand.We also heard from 3,089 respondents who represented their organisations in the survey as hiring managers,and from them,we he

15、ard the business perspective on hiring trends,salary policy,and business focuses they are prioritising in a new era of work.We supplemented this data with recommendations,expert comments,and remuneration analysis.THANK YOUWe would like to express our gratitude to all consultants,survey respondents,a

16、s well as our clients and candidates,for sharing valuable information and insights.Your contribution was essential in producing an informative publication that helps both professionals and employers make informed business and career decisions.ABOUT THE GUIDEINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT

17、|INDUSTRY BREAKDOWN|ABOUT US2024 HAYS ASIA SALARY GUIDE032024 HAYS ASIA SALARY GUIDE04INTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT USHIRING OUTLOOK AND CHALLENGES2024 HAYS ASIA SALARY GUIDECHINAHONG KONGSARJAPANMALAYSIASINGAPORE THAILANDINTRODUCTION|KEY INSIGHTS|REGION SPOTLIG

18、HT|INDUSTRY BREAKDOWN|ABOUT US2.6%64.4%27.6%5.4%4.8%48.2%41.7%5.3%6.1%50.2%16.8%26.9%8.6%37.2%51.0%3.2%6.1%47.7%43.2%3.0%20.3%48.2%29.1%2.5%Very OptimisticQuite OptimisticNot Very OptimisticNot Optimistic At AllEmployer PerspectivesOUTLOOK ON ECONOMIC CLIMATE AND EMPLOYMENT OPPORTUNITIES IN THE NEXT

19、 2-5 YEARSConsidering the escalating challenges posed by the current economic climates,distinct patterns of confidence in economic sentiment have emerged across various markets.China,Hong Kong SAR,Japan,and Singapore exhibit a sense of caution and less-than-enthusiastic outlooks for the upcoming 12

20、months.The apprehension within these markets is fueled by multifaceted factors,including disruptive supply chain issues,currency fluctuations,and a shifting regional landscape that necessitates cost-cutting measures,for a more streamlined and efficient operations.Supply chain disruptions have been a

21、 significant contributor to the subdued economic sentiment.As businesses grapple with interruptions to the flow of goods and services,uncertainties surrounding the availability of essential resources and components create challenges for sustained operations.Currency fluctuations add another layer of

22、 complexity,introducing volatility that impacts both international trade and the financial stability of businesses.Amidst these challenges,markets such as Malaysia emerge as potential beneficiaries of strategic corporate decisions.The establishment of centers of excellence by companies seeking to ca

23、pitalise on a more cost-effective workforce positions Malaysia as an attractive destination for businesses aiming to optimise operational efficiency.OVERALL SENTIMENT ON ECONOMIC CLIMATE AND EMPLOYMENT05HIRING OUTLOOK AND CHALLENGES2024 HAYS ASIA SALARY GUIDE2024 HAYS ASIA SALARY GUIDECHINAHiring fr

24、eeze Digital transformation DownsizingChange inrequired skills sets Soaring labour costs1234540.8%31.7%30.0%27.2%34.0%Restructuring622.3%down from 64.3%in 2022HONG KONG SARDigital transformation Soaring labour costs Hiring freezeRestructuringAging workforce 1234536.9%32.1%28.9%26.7%32.6%down from 44

25、.3%JAPANAging workforceSoaring labour costs RestructuringDigital transformation Requirement for a more flexible workforce1234535.1%33.0%28.3%25.1%33.3%down from 63.4%MALAYSIADigital transformation RestructuringHiring freeze Soaring labour costs Requirement for amore flexible workforce1234549.7%36.2%

26、35.1%31.3%44.9%down from 52.0%SINGAPOREHiring freeze Digital transformation Soaring labour costs RestructuringRequirement for amore flexible workforce1234539.9%38.7%38.1%27.4%39.3%down from 41.2%THAILANDRestructuringDigital transformation Hiring freeze Change inrequired skills sets Aging workforce 1

27、234543.0%31.6%29.1%26.6%41.8%In light of this,markets have adopted a more conservative outlook,prompting a range of strategic responses from businesses.Among the prevalent measures taken by companies,hiring freezes and restructuring initiatives have become particularly commonplace in markets such as

28、 China,Singapore,and Thailand.These actions reflect a proactive stance as aim to optimise operational efficiency and weather economic uncertainties.Japan,while grappling with soaring labor costs,faces a unique challenge stemming from its aging workforce.This demographic trend accentuates the importa

29、nce of finding innovative solutions to attract and retain talent,as more individuals find themselves delaying retirement or seeking a return to employment to supplement their life savings.Digital transformation and the evolution of relevant skill sets also continue to take centre stage with organisa

30、tions striving to keep pace with rapidly advancing technology.With the widening of skill gaps and the scarcity of quality talent,both employers and employees must proactively take measures to address and bridge these deficiencies.INTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT US

31、TOP FIVE CHALLENGESORGANISATIONS FACED IN 2023Employer Perspectives06HIRING OUTLOOK AND CHALLENGESINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT US2024 HAYS ASIA SALARY GUIDEStaff increases for 2023 did not meet the earlier projections set by the market,prompting a revision of e

32、xpectations for 2024.Moreover,there is an elevated level of uncertainty in China regarding hiring,with an increase from 7.0%to 17.8%.This shift in expectations underscores the evolving dynamics in the employment landscape,signaling a cautious approach among employers in certain markets.PERMANENT STA

33、FF LEVEL INCREASE(Y.O.Y)THAILANDSINGAPOREMALAYSIAJAPANHONG KONG SARCHINAPROJECTIONFOR 2024ACTUAL IN2023PROJECTIONFOR 202327.2%27.8%33.7%30.4%30.1%40.5%28.6%28.9%32.6%30.9%28.3%32.9%39.6%43.9%58.4%56.5%51.0%*No prior data for Thailandmarket;newly added marketto the Salary GuideHIRING TRENDSNotably,a

34、reduced number of employers in Hong Kong SAR,Japan,and Singapore anticipate an expansion in staff levels.In contrast,employers in China,Malaysia,and Thailand are optimistic about growth in the contract recruitment sector.Once again,Thailand stands out for its enthusiasm toward hiring.CONTRACT STAFF

35、LEVEL INCREASE(Y.O.Y)THAILANDSINGAPOREMALAYSIAJAPANHONG KONG SARCHINAPROJECTED INCREASEFOR 2024ACTUAL INCREASEFOR 202321.5%17.1%22.9%15.5%13.1%19.0%22.0%15.5%20.1%15.7%11.9%22.8%Employer Perspectives072024 HAYS ASIA SALARY GUIDECONFIDENCE IN HIRING(ASIA WIDE)Very ConfidentConfidentNot At All Confide

36、ntNot Very Confident51.0%36.6%8.7%3.7%HIRING OUTLOOK AND CHALLENGESINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT USEmployer PerspectivesEmployers across Asia expressed their confidence with hiring candidates with the skills required for their needs in 2024.Given the current pro

37、minence of AI,particularly in recruitment,it would be neglectful not to gauge the stance of employers in this evolving landscape.When polled about the possibility of incorporating AI into talent acquisition strategies this year,half of employers indicated that they had no plans.This hesitancy is und

38、erstandable,given the disruptive nature of AI and the ethical concerns it introduces,particularly in determining a candidates suitability for the company.Employer PerspectivesUnsureStrongly DisagreeDisagreeAgreeStrongly AgreeMY ORGANISATION IS EMBRACING AISUFFICIENTLY TO STAY RELEVANT IN THE NEAR FU

39、TURE23.7%11.4%32.5%27.4%5.0%11.4%10.5%35.1%39.5%3.5%13.6%29.6%27.2%24.8%4.8%19.7%7.3%29.0%40.7%3.3%20.6%11.0%24.5%40.0%3.9%16.7%4.8%23.8%42.8%11.9%CHINAHONG KONG SARJAPANMALAYSIASINGAPORETHAILANDEXTENT OF AI USAGE IN YOURCOMPANYS RECRUITMENT PROCESS(ASIA WIDE)Extensively,we heavily rely on AIthougho

40、ut the recruitment processModerately,we use AI in specificstages of recruitment Minimally,AI is used sparingly inour recruitment processWe dont use AI in the recruitmentprocess,but are looking to explorewithin the next yearWe dont use AI in the recruitmentprocess and have no plan in the next year22.

41、3%12.3%Employee Perspectives22.9%39.9%2.6%(HR PRACTITIONERS)08HIRING OUTLOOK AND CHALLENGESINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT USNeutralStronglyDisagreeDisagreeAgreeStronglyAgreeI BELIEVE AI TOOLS CAN HELP ORGANISATIONS RECRUITQUALITY TALENT THAT MATCHES THEIR BUSINES

42、S NEEDS3.9%7.6%52.2%31.0%5.3%5.5%6.1%43.8%37.2%7.4%3.2%7.9%52.5%31.1%5.3%4.3%6.4%39.4%39.9%10.0%4.3%6.4%38.7%41.8%8.8%6.1%7.8%30.2%43.1%12.8%CHINAHONG KONGSARJAPANMALAYSIASINGAPORETHAILANDAddressing these crucial questions becomes imperative to fully justify entrusting the fate of candidates to arti

43、ficial intelligence.Notably,HR professionals in China,Hong Kong SAR,and Japan appear to be sitting on the fence regarding the efficacy of AI tools in recruiting top-tier talent,with a smaller faction leaning towards acceptance.Conversely,a more pronounced inclination was observed in Malaysia,Singapo

44、re,and Thailand,suggesting a growing acceptance of AI utilisation for recruitment in Southeast Asia.However,despite this growing acceptance,the majority of organizations in Asia(excluding China)who have implemented AI recruitment tools have not actively evaluated bias in their use.This highlights a

45、gap between the widespread support for the use of AI tools among HR professionals across the region,who are heavily in favour of using them to help perform tasks at work.Employee PerspectivesI SUPPORT THE USE OF AI TOOLS TO PERFORM MY WORK TASKS12.7%3.7%9.0%65.9%8.7%11.4%7.0%21.9%55.3%4.4%10.4%4.0%1

46、6.8%53.6%15.2%9.0%2.7%5.3%68.3%14.7%8.4%3.2%11.0%65.8%11.6%7.1%2.4%7.1%64.4%19.0%UnsureStronglyDisagreeDisagreeAgreeStronglyAgreeCHINAHONG KONGSARJAPANMALAYSIASINGAPORETHAILANDHOW COMPANIES ASSESS THE FAIRNESS AND UNBIASE NATURE OF AI-POWERED RECRUITMENT TOOLSCHINAHONG KONGSARJAPANMALAYSIASINGAPORET

47、HAILAND30.8%38.8%6.3%23.2%0.9%20.0%30.0%20.0%30.0%0%26.6%31.6%19.0%21.5%1.3%20.2%41.7%9.2%26.6%2.3%13.4%41.2%10.3%33.0%2.1%17.9%39.3%21.4%21.4%0%Regular audits and reviews to ensure fairnessContinuous monitoring and human oversight to mitigate biasesReliance of vendor to mitigate biases in toolsWe a

48、re not actively assessing bias in AI recruitment toolsOther-Please specify2024 HAYS ASIA SALARY GUIDE2024 HAYS ASIA SALARY GUIDE(HR PRACTITIONERS)09HIRING OUTLOOK AND CHALLENGESINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT USEXTENT OF AI USAGE IN RECENT JOB APPLICATIONEmployee

49、PerspectivesCHINAHONG KONGSARJAPANMALAYSIASINGAPORETHAILANDExtensively,I heavily relied on AI throughtout the application processModerately,I leverage AI in specific stagesMinimally,I used AI sparingly2024 HAYS ASIA SALARY GUIDE2024 HAYS ASIA SALARY GUIDENevertheless,candidates have shown no hesitat

50、ion in embracing AI assistance throughout the job application process.Across all markets,except Japan,prospective employees have utilised AI to varying extents across different stages of interviews.The trajectory of AI usage and acceptance appears poised for continuous growth,suggesting that it migh

51、t only be a matter of time before companies align with this trend.The initial discussions to explore the implementation of AI in the workplace become crucial,forming the foundations that pave the way for employees eager to embrace optimisation.2.7%22.9%30.3%25.7%11.3%4.9%19.8%27.4%18.7%11.1%4.8%14.3

52、%30.5%21.1%10.8%2.6%18.4%12.4%5.4%11.9%2.4%18.7%28.2%20.6%14.3%2.5%32.1%5.0%21.5%6.6%did not use AI process as I didnt see a needI did not use AI tools due to security and privacyconsiderationsNot applicable,I have not applied for any jobs yet I did not use AI process as Im not familiar with how4.4%

53、2.7%11.6%6.5%10.6%7.9%21.4%27.9%10.7%5.1%24.0%8.3%10INTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT USCAREER PLANS IN THE NEXT 12 MONTHSEmployee PerspectivesCHINAHONG KONGSARJAPANMALAYSIASINGAPORETHAILANDPlan to change organisation/talent with alternative career plans outside of

54、current organisationLoyal employees who are also open to new opportunities or to plan to change organisationLoyal employees with plans to set up their own business,pick up additional jobs2024 HAYS ASIA SALARY GUIDE2024 HAYS ASIA SALARY GUIDEWhen it comes to employee considerations with where their f

55、uture career plans take them,we found that China possessed the most stable retention market overall,while Japan was least stable.Within Asia,employees in China were least likely to look for alternative career plans outside their current organisation,preferring to either stay in their current roles,s

56、eek promotions or search for new roles within their companies.Employees in Japan were more open towards change,with far more respondents showing receptiveness towards taking up new roles elsewhere for better opportunities.Employees in Japan were also less likely to seek growth within their own compa

57、nies,increasing the likelihood of external recruitment efforts succeeding.Employees in Hong Kong SAR,Malaysia,Singapore and Thailand displayed similar propensities to change,with respondents in Thailand most likely to possess alternative plans of growth outside of their existing workplace at 46.0%.I

58、t is worth noting that even among loyalists in Malaysia and Singapore,there was a higher propensity to sway when it came to external opportunities compared to other markets(24.0%and 25.0%respectively).Loyalty was second highest among workers in Hong Kong SAR,with 35.0%of loyalists firmly preferring

59、to stay and grow within their organisation,followed by Thailand at 33.0%,Singapore at 32.0%and Malaysia at 28.0%.27.0%20.0%3.0%42.0%19.0%2.0%51.0%17.0%3.0%2.0%4.0%28.0%39.0%25.0%46.0%33.0%Loyal employees who also plan to follow a completely different career pathLoyal looking to stay in same role or

60、be promoted or find a new role within current organisation2.0%35.0%26.0%42.0%24.0%1.0%32.0%18.0%2.0%48.0%3.0%3.0%1.0%2.0%EMPLOYEE CAREER DEVELOPMENT PLANSOVERALL CONSIDERATIONS11EMPLOYEE CAREER DEVELOPMENT PLANSINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT US2024 HAYS ASIA SALA

61、RY GUIDE1 Salary package was toolow2 Better benefits (healthcare,insurance,allowances)3 Lack of careerprogressionCHINA202320241 Lack of career progression2 Seeking new challenges3 Salary package was too low1 Salary package wastoolow2 Better benefits (healthcare,insurance,allowances)3 Seeking newchal

62、lengesMALAYSIA20231 Seeking new challenges2 Salary package was too low3 Lack of career progression20241 Salary package was toolow2 Better benefits (healthcare,insurance,allowances)3 Seeking newchallengesHONG KONG SAR20231 Lack of career progression2 Seeking new challenges3 Salary package was too low

63、20241 Salary package wastoolow2 Better benefits (healthcare,insurance,allowances)3 Seeking newchallengesSINGAPORE20231 Lack of careerprogression2 Seeking new challenges3 Salary package was too low20241 Salary package was toolow2 Seeking newchallenges3 Lack of careerprogressionJAPAN20231 Seeking new

64、challenges2 Salary package was too low3 Lack of career progression20241 Seeking new challenges2 Lack of careerprogression3 Salary package was too lowTHAILAND2024*Salary package was toolowBetter benefits(healthcare,insurance,allowances)Lack of careerprogression2024In response to the dynamic regional

65、landscape,employee priorities have undergone a significant transformation this year.Traditional factors like salaries no longer hold the top spot as the primary reason for employees contemplating job changes.Instead,a lack of career progression has ascended to the top spot in the priorities list for

66、 employees in China,Singapore,and Thailand.This suggests a heightened focus on long-term professional growth and development as a driving force behind employment decisions in these markets.Simultaneously,in Hong Kong SAR,Japan,and Malaysia,the desire for new challenges has taken precedence,ranking a

67、t the top of employee priorities.This change in attitude signals a broader reevaluation of professional goals,underscoring the growing importance of career advancement in shaping employment decisions across the region.Talent drain from the lack of career progression and new challenges are an unfortu

68、nate loss to organisations,particularly when employees ranked these higher than remuneration considerations.To manage,employers will want to look at engaging talent with early discussion on career progression and sharing business challenges that could present opportunities for growth.RECOMMENDATIONS

69、Employee PerspectivesTOP THREE REASONS FOR LEAVING PREVIOUS EMPLOYER*No prior data for Thailand market;newly added market to the Salary Guide122024 HAYS ASIA SALARY GUIDE1 Salary package2 Work-life balance3 Companys values and culture align with mineCHINA2023Salary package was toolowBetter benefits(

70、healthcare,insurance,allowances)Lack of careerprogression20241 Work-life balance2 Salary package 3 Fit in well with manager/colleagues 20241 Salary package2 Flexible working options3 Work-life balanceMALAYSIA20231 Work location/Flexible working options2 Work-life balance3 Fit in well with manager/co

71、lleagues20241 Salary package 2 Work-life balance3 Flexible working optionsHONG KONG SAR20231 Work-life balance2 Fit in well with manager/colleagues3 Salary package20241 Salary package2 Flexible working options3 Work-life balanceSINGAPORE20231 Fit in well with manager/colleagues2 Work location/flexib

72、le working options3 Work-life Balance20241 Salary package2 Flexible working options3 Work-life balanceJAPAN20231 Work location/flexible working options2 Salary package3 Work-life balance20241 Salary package2 Work-life balance3 Work location/flexible working optionsTHAILAND2024*In aligning with the s

73、hifting trends,employees choosing to remain with their employers are also exhibiting consistent patterns.Notably,the once predominant factor of salary packages being the primary reason to stay has seen a decline in prominence.Instead,work-life balance and flexible working options have taken preceden

74、ce as top-rated considerations for employee retention in China,Malaysia,Hong Kong SAR,and Japan.This shift reflects a growing emphasis on factors contributing to a holistic and adaptable work environment,signaling the importance of a healthy work-life equilibrium in retaining talent.In Singapore,a u

75、nique emphasis is placed on interpersonal dynamics within the workplace.Fitting in well with managers and colleagues has claimed the top spot,underscoring the significance of camaraderie and positive relationships in the decision of employees to stay with their current employers.This nuanced variati

76、on in priorities further emphasizes the diverse factors influencing employee retention across different markets,reflecting the intricate balance between professional and interpersonal aspects in the evolving landscape of workplace preferences.EMPLOYEE CAREER DEVELOPMENT PLANSINTRODUCTION|KEY INSIGHT

77、S|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT US*No prior data for Thailand market;newly added market to the Salary GuideEmployee PerspectivesTOP THREE REASONS FOR STAYING WITH CURRENT EMPLOYER13EMPLOYEE CAREER DEVELOPMENT PLANSINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT USTALE

78、NT RETENTION AND ENGAGEMENT|CHINA|TOP REASONS TO STAYWork-life balance Salary package Fit in well withmanager/colleagues Work location/Flexibleworking options Good job security 41.0%28.8%21.4%18.9%32.2%RESPONDENTS WHO ARE COMMITTED OR VERY COMMITTED TO THEIR WORK OR ORGANISATIONWork-life balance Fit

79、 in well withmanager/colleagues Work location/Flexibleworking options Salary package Good job security 37.5%32.8%32.6%17.9%34.2%RESPONDENTS WHO ARE NOT COMMITTED OR ACTIVELY NOT COMMITTED TO THEIR WORK OR ORGANISATIONSalary package Good job security Waiting for a bonus/promotion/internal transfer Wo

80、rk location/Flexibleworking options35.4%34.2%24.9%18.3%Work-life balance38.1%Work-life balance plays a key role for talent retention,above salary packages.Work location/flexible work options formed a powerful driver among employees who chose to stay,particularly more so among those who felt less com

81、mitted to their current employer.Committed talent do prioritise other factors like work-life balance and people-fit.Good job security was cited across the board for all employees who stayed as well,reflecting the nature of the employment landscape and the financial responsibilities individuals face

82、today.To manage potential turnover,employers will want to look at finetuning their Employee Value Propositions to evaluate workloads and encourage office camaraderie to secure existing committed talent.Meanwhile,employers should look to re-energise disengaged employees through other means if flexibl

83、e work options are reverting to more on-site arrangements.RECOMMENDATIONS2024 HAYS ASIA SALARY GUIDEEmployee Perspectives14Although work location/flexible work options were present within considerations of employees who stayed,those same employees also ranked other benefits such as good work-life ba

84、lance and being able to fit well with managers and colleagues higher.There were also strong indications that non-committed employees were staying in view of practical consider-ations like potential bonus,promotion or internal transfer.Having early conversations with workers to manage expectations on

85、 bonus/promotion/internal transfer would help with labour forecast.Alternatively,work-life balance and employee fit are important considerations for Hong Kong employers looking to retain quality talent.Be sure to provide sufficient opportunities for the workforce to manage workload and integrate the

86、mselves with colleagues and managers.2024 HAYS ASIA SALARY GUIDEEMPLOYEE CAREER DEVELOPMENT PLANSINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT USTALENT RETENTION AND ENGAGEMENTTOP REASONS TO STAYRESPONDENTS WHO ARE COMMITTED OR VERY COMMITTED TO THEIR WORK OR ORGANISATIONRESPON

87、DENTS WHO ARE NOT COMMITTED OR ACTIVELY NOT COMMITTED TO THEIR WORK OR ORGANISATIONWork-life balance Fit in well withmanager/colleagues Salary package Work location/Flexibleworking options Waiting for a bonus/promotion/internal transfer35.3%32.1%24.8%21.3%34.8%Good job security 21.1%Fit in well with

88、manager/colleagues Work-life balance Salary package Work location/Flexible working optionsWaiting for a bonus/promotion/internal transfer36.6%32.8%27.2%21.9%34.7%Waiting for a bonus/promotion/internal transfer Fit in well withmanager/colleagues Work-life balanceCareer progression Salary package 32.4

89、%26.5%26.5%23.5%26.5%Work location/Flexible working options 23.5%Employee Perspectives|HONG KONG SAR|RECOMMENDATIONS15When it came to employees who stayed,work location/flexible work options were unanimously selected as the most important contribution to that decision,rated even above salary conside

90、rations.Besides the significant of work-life balance amongst all employees,less committed employees are sticking with employers who offer good job security.With flexible work options being an integral consideration for workers in Japan to remain at their place of employment,employers will need to ca

91、refully consider the ramifications of removing this benefit.A two-way conversation is crucial to avoid missed expectations.Employers may also wish to revisit career development plans to see if their workforce is being sufficiently engaged to improve and grow at the workplace2024 HAYS ASIA SALARY GUI

92、DEEMPLOYEE CAREER DEVELOPMENT PLANSINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT USTALENT RETENTION AND ENGAGEMENTTOP REASONS TO STAYWork location/Flexibleworking options Salary package Work-life balance Fit in well with my manager/colleagues Companys values and culture align w

93、ith mine 41.5%36.8%28.0%20.7%37.6%RESPONDENTS WHO ARE COMMITTED OR VERY COMMITTED TO THEIR WORK OR ORGANISATIONWork location/Flexibleworking options Salary package Work-life balance Fit in well with my manager/colleaguesCompanys values and culture align with mine 41.9%36.8%33.4%22.1%38.0%RESPONDENTS

94、 WHO ARE NOT COMMITTED OR ACTIVELY NOT COMMITTED TO THEIR WORK OR ORGANISATIONWork location/Flexibleworking optionsWork-life balanceSalary package Good job security 42.4%34.5%28.8%38.1%Companys values and culture align with mine15.1%Employee Perspectives|JAPAN|RECOMMENDATIONS162024 HAYS ASIA SALARY

95、GUIDEAmong those who opted to remain with their companies,work location/flexible work options emerged as the most crucial factor,consistently rated higher than salary considerations.This was followed by having good work-life balance and experiencing a good fit in the organisation.Those less committe

96、d also took a practical view in prioritising remuneration.Employers should consider the potential consequences of eliminating flexible work options,especially since it has now become a primary factor,surpassing remuneration,for retaining workers.Committed talent may be given more autonomy,whilst les

97、s committed ones will require other means of engagement.Reviewing work-life balance suitably will also keep talent engaged.EMPLOYEE CAREER DEVELOPMENT PLANSINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT USTALENT RETENTION AND ENGAGEMENTTOP REASONS TO STAYWork location/Flexiblewo

98、rking options Work-life balanceFit in well with mymanager/colleagues Salary package Waiting for a bonus/promotion/internal transfer36.4%32.8%31.6%21.6%36.2%RESPONDENTS WHO ARE COMMITTED OR VERY COMMITTED TO THEIR WORK OR ORGANISATIONWork location/Flexibleworking options Work-life balanceFit in well

99、with my manager/colleaguesSalary packageWaiting for a bonus/promotion/internal transfer38.3%34.6%30.8%21.8%35.8%RESPONDENTS WHO ARE NOT COMMITTED OR ACTIVELY NOT COMMITTED TO THEIR WORK OR ORGANISATIONWork location/Flexibleworking options43.6%Work-life balanceSalary package 30.8%30.8%Fit in well wit

100、h my manager/colleagues35.9%Waiting for a bonus/promotion/internal transfer33.3%Employee Perspectives|MALAYSIA|RECOMMENDATIONS17Employees who fit in at the workplace were more likely to stay and remain committed to the company.In fact,positive people fit outpaced flexible working options as a reason

101、 for Singaporeans to stay with a company,a unique phenomenon setting the market apart from others in Asia.Job security was also a large motivator for many employees to stay,indicative of conservative outlooks towards employment in general.Amongst the less committed,remuneration was also a key motiva

102、tor to stay.A healthy working environment,positive values and a sufficiently challenging role will go a long way towards winning the hearts of employees in Singapore.However,the importance of flexible working options shouldnt be underscored for hiring managers should this not already be the norm.Emp

103、loyers should look to segment their means of engagement when executing flex working policies.2024 HAYS ASIA SALARY GUIDEEMPLOYEE CAREER DEVELOPMENT PLANSINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT USTALENT RETENTION AND ENGAGEMENTTOP REASONS TO STAYFit in well with mymanager/

104、colleagues Work location/Flexible working optionsWork-life balance Salary package Good job security 37.1%35.6%30.9%20.1%35.8%RESPONDENTS WHO ARE COMMITTED OR VERY COMMITTED TO THEIR WORK OR ORGANISATIONFit in well with my manager/colleaguesWork location/Flexible working options Work-life balanceSala

105、ry packageWaiting for a bonus/promotion/internal transfer40.1%35.4%31.5%16.9%36.2%RESPONDENTS WHO ARE NOT COMMITTED OR ACTIVELY NOT COMMITTED TO THEIR WORK OR ORGANISATIONSalary package Work-life balanceWork location/Flexible working optionsGood job security50.0%27.8%27.8%44.4%Waiting for a bonus/pr

106、omotion/internal transfer16.7%Employee Perspectives|SINGAPORE|RECOMMENDATIONS182024 HAYS ASIA SALARY GUIDEEMPLOYEE CAREER DEVELOPMENT PLANSINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT USAcross the region employees exhibited a robust interest in exploring career opportunities w

107、ithin their current organisations.This internal inclination is strikingly prominent,with overall employee interest eclipsing the 60%mark.Of particular note,China emerges as a standout,boasting an impressive 88.7%interest in internal career advancements.Japan employees were least keen about internal

108、transfer opportunities.There is a gap however,in terms of the perceived visibility employees feel they have towards internal opportunities.These gaps were most pronounced in China and Japan,with close to a 20%difference between interest and perception.This raises a crucial point about the need for o

109、rganisations to enhance communication channels,ensuring employees are well-informed and aware of the opportunities that lie within.The perception gap increases further when it came to the attractiveness of outside offers versus internal movement.Asides from China,less than half of employees felt an

110、inclination to stay instead of leave given the chance.With career growth superseding salary as a reason for employees to pack their bags,this may be the right time to reengage employees via internal communications about opportunities within the company.By bridging the information gap,highlighting in

111、ternal career pathways,and showcasing the potential for professional growth within the company,organisations can not only retain talent but also foster a culture of loyalty and commitment.EMPLOYEE PERCEPTIONS TOWARDS INTERNAL HIRINGTHAILANDSINGAPOREMALAYSIAJAPANHONG KONG SARCHINAWANTS TO KNOW ABOUTC

112、AREER OPPORTUNITIES INSIDE ORGANISATIONHAS VISIBILITY INTO INTERNAL OPPORTUNITIESBELIEVES AN INTERNALTRANSFER IS AS ATTRACTIVEOR MORE SO THAN A NEW OPPORTUNITY OUTSIDE88.7%69.8%60.7%78.3%77.1%81.9%69.5%61.7%42.9%68.0%67.0%70.5%54.9%43.8%24.8%42.5%47.1%48.1%Employee PerspectivesINTERNAL HIRING TRENDS

113、RECOMMENDATIONS192024 HAYS ASIA SALARY GUIDEINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT US2024 HAYS ASIA SALARY GUIDEEmployee PerspectivesEMPLOYEE CAREER DEVELOPMENT PLANSGLOBAL MOBILITYCharting where employees stood regarding overseas career opportunities in the next two yea

114、rs revealed varying levels of readiness exist within the region.A compelling majority,exceeding 50%in all markets,express a keen interest in relocating.Leading the charge in this regard are Thailand,Malaysia,and Japan,where employees displayed a collective enthusiasm for international career experie

115、nces.When breaking down reasons to want to work overseas,career advancement and personal growth both stood out as leading reasons for employees to relocate.Notably,regional nuances in motivation become apparent when examining specific markets.In Southeast Asia,financial considerations emerge as a si

116、gnificant motivator,with 51.7%of talent in Malaysia identifying it as a key reason for contemplating overseas employment.This underscores the importance of recognizing and addressing financial concerns when formulating international assignment packages in this region.The opportunity for travel and a

117、dventure was noteworthy for employees in Singapore and Thailand.Talent in Thailand also appreciate the global networking opportunity with an overseas work stint.Not at all keenNot so keenSomewhat keenVery keenExtremely keenINCLINATIONS TO WORK OVERSEAS IN THE NEXT TWO YEARSTHAILANDSINGAPOREMALAYSIAJ

118、APANHONG KONG SARCHINA36.1%33.7%34.4%37.6%32.4%38.8%16.8%13.4%13.9%15.7%12.7%17.5%14.4%4.6%7.4%15.0%10.1%19.1%16.4%13.5%13.1%15.4%15.3%9.3%29.5%22.1%21.3%24.2%31.0%15.3%202024 HAYS ASIA SALARY GUIDEINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT USEmployee Perspectives2024 HAYS A

119、SIA SALARY GUIDEEMPLOYEE CAREER DEVELOPMENT PLANSGLOBAL MOBILITYREASON FOR CONSIDERING AN OVERSEASWORK ASSIGNMENT IN THE NEXT TWO YEARSCHINAHONG KONG SAR41.8%Personal growth41.0%Career advancement24.7%Global networkingJAPAN48.7%Personal growth47.4%Career advancement31.3%Cultural immersionMALAYSIA55.

120、1%Career advancement51.7%Financial motivations48.0%Personal growthSINGAPORE55.9%Career advancement53.6%Personal growth33.5%Travel/adventure explorationTHAILAND58.7%Career advancement44.2%Personal growth37.0%Financial motivationsEmployees in China ranked career advancement,personal growth and a fresh

121、 start as the top 3 reasons to consider a move.Domestic companies looking to expand overseas could expound on these motivations for talent mobility.A distinctive pattern surfaces in Hong Kong SAR,where employees express a pronounced desire to leave based on political considerations.This unique aspec

122、t underscores the impact of geopolitical factors on workforce mobility and necessitates a nuanced approach to international talent management in such environments.Furthermore,employees in Japan exhibit a distinctive profile,with anotable proportion expressing a desire to work abroad for a fresh star

123、t in their lives.Additionally,a strong inclination towards cultural immersion emerges as a motivator for those seeking international opportunities.Organisations aiming to attract and retain talent from Japan should consider these factors when designing international assignments,focusing on the broad

124、er lifestyle and cultural experiences that employees seek.Considerations for talent hire internationally will depend on your organisations ability to support them in this transition.Communicatinginternational career opportunities to employees gives them the option to contribute from elsewhere while

125、being exposed to new challenges,markets,and teammates.Beyond addressing the intrinsic motivations for accepting an overseas position,relocation support such as language training,assistance with visas and housing,and other crucial factors to ease integration will smoothen transitions.RECOMMENDATIONS5

126、7.9%Career advancement53.2%Personal growth26.2%Fresh start21With the prospect of a challenging economic climate in mind,we wanted a sense of whether employees were working at more than one job today.Among Asian markets,Japan and Thailand emerge as notable outliers,demonstrating a significant propens

127、ity among employees to embrace the practice of holding down more than one job.Particularly striking is the fact that over 25%of employees in Japan and just over 40%of their counterparts in Thailand are actively pursuing this multi-faceted professional approach.Across most markets,the primary driver

128、for seeking additional employment is the pursuit of extra income.Workers in Malaysia lead the charge in this aspect,with 36.3%citing financial gain as their primary motivation for engaging in multiple job roles.This underscores the financial resilience and adaptive nature of the workforce in Malaysi

129、a,where employees actively seek diversified income streams to navigate economic uncertainties.Singapore,however,presents a unique perspective in this landscape,with 30%of workers engaging in moonlighting for reasons beyond financial considerations.In contrast to the prevailing trend,a significant po

130、rtion of employees in Singapore pursues secondary employment as a hobby or to fulfill personal interests.It is worth re-examining how we view the prospect of employees moonlighting,especially with the challenges ahead.The gig economy has made pathways to extra income much easier today and is an attr

131、active option formany workers seeking to meet growing financial obligations.These also present an opportunity for enterprising individuals looking to gather experience in particular fields or industries that necessitate fluency in certain technical skills.Having that conversation with workers to fin

132、d out what motivates them today,and matching that to existing support offered by your organisation will keep employees engaged and happy.RECOMMENDATIONS2024 HAYS ASIA SALARY GUIDEINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT USEMPLOYEE CAREER DEVELOPMENT PLANSEmployee Perspecti

133、vesADDITIONAL JOBS123More than 3NO.OF ADDITIONAL JOB(S)APART FROM THE PRIMARY ONETHAILANDSINGAPOREMALAYSIAJAPANHONG KONG SARCHINAREASON FOR PURSUING ADDITIONAL JOB(S)CHINA57.9%Career advancement53.2%Personal growth26.2%Fresh startHONG KONG SAR41.8%Personal growth41.0%Career advancement24.7%Global ne

134、tworkingJAPAN48.7%Personal growth47.4%Career advancement31.3%Cultural immersionMALAYSIA55.1%Career advancement51.7%Financial motivations48.0%Personal growthSINGAPORE55.9%Career advancement53.6%Personal growth33.5%Travel/adventure explorationTHAILAND58.7%Career advancement44.2%Personal growth37.0%Fin

135、ancial motivations12.4%1.5%0.3%0.4%12.1%4.0%2.9%4.3%19.9%5.5%0.6%0.3%11.9%4.4%1.5%2.0%10.7%2.4%0.7%1.3%21.3%8.7%3.3%8.2%05024 HAYS ASIA SALARY GUIDECHINA202220232024HONG KONG SARJAPANMALAYSIASINGAPORETHAILAND2022202320242022202320244.7%4.4%16.5%27.0%47.0%0.4%6.4%4.3%16.5%25.8%46.6%0.4%21.

136、0%14.7%29.9%15.1%15.1%4.2%Throughout Asia,employees have revised their salary expectations downward.A reduced number of employees in the region anticipate a salary increase surpassing 6%,while a growing proportion foresees either no change or a decrease in their salary.2024 HAYS ASIA SALARY GUIDEREM

137、UNERATION TRENDSINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT USEmployee PerspectivesSALARY EXPECTATIONS IN 202419.6%24.5%22.2%11.9%20.4%1.4%14.6%22.7%25.4%13.1%22.0%2.2%18.0%22.0%29.3%12.2%14.6%3.9%37.4%33.2%15.4%5.3%5.9%2.8%29.3%38.2%16.5%6.4%7.4%2.2%41.1%28.9%14.3%5.3%5.6%4.

138、8%202220232024202220232024202415.4%16.9%23.8%18.4%23.9%1.6%11.9%14.0%25.3%19.0%28.6%1.2%12.6%19.0%29.3%15.3%22.8%1.0%19.4%25.7%24.8%12.9%16.4%0.8%2.0%22.7%27.1%13.5%20.6%14.1%19.4%29.5%29.2%10.8%9.4%1.6%6.7%12.1%31.5%27.9%21.8%0%DecreaseNo changeIncrease 10%*No prior data for Thailand market;newly a

139、dded market to the Salary Guide23CHINA202220232024DecreaseNo changeIncrease10%HONG KONG SARJAPANMALAYSIASINGAPORETHAILAND20222023202420222023202417.9%13.8%41.8%17.1%7.4%2.0%23.1%13.5%34.6%18.2%6.4%4.2%19.4%22.1%40.9%11.7%2.3%3.6%*No prior data for Thailand market;newly added market to the Salary Gui

140、deTrends among employers differ between markets.While readiness to provide increments above 10%declined unilaterally,both Japan and Malaysia experienced greater willingness for increments between 6-10%.All markets also saw an upward trend for raises between 3-6%.Hong Kong SAR,China and Malaysia saw

141、the most significant improvement in this area.Raises of up to 3%saw mixed reactions from markets,with only China,Hong Kong SAR and Singapore trending up.Japan saw a significant drop,with over 13%less employers in this bracket.The proportion of employers not foreseeing salary increments in the coming

142、 year fell across the board,except in Japan and Singapore.Employers looking at salary cuts remain low across all markets.REMUNERATION TRENDSINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT USEmployer PerspectivesSALARY EXPECTATIONS IN 202431.8%30.4%22.8%6.8%6.5%1.7%25.2%27.8%24.6%

143、8.0%10.3%4.1%14.4%31.3%38.9%8.2%2.6%4.6%27.0%41.8%20.6%5.6%3.2%1.8%15.4%52.2%22.3%3.4%3.9%2.8%22.0%38.9%23.7%9.8%2.8%2.8%202220232024202220232024202433.1%24.6%24.5%7.8%5.7%4.3%15.9%25.0%35.6%10.8%10.4%2.3%12.6%22.2%43.0%14.7%5.7%1.8%26.0%36.6%25.1%6.8%4.3%1.2%16.0%31.4%33.2%10.2%8.2%1.0%17.9%33.0%37

144、.7%5.4%3.6%2.4%7.2%22.9%47.0%16.9%4.8%1.2%2024 HAYS ASIA SALARY GUIDE24HONG KONG SARMALAYSIATHAILANDDecreaseIncreaseby 3%Increase by3%6%Increase by6%10%Increase by 10%No Change18.0%14.4%3.9%4.6%31.3%22.0%38.9%29.3%8.2%12.2%14.6%2.6%-3.6%+0.7%+9.3%+9.6%-4.0%-12.0%Consumer Price Inflation(CPI)-1.6%*De

145、creaseIncreaseby 3%Increase by3%6%Increase by6%10%Increase by 10%No Change12.6%12.6%1%1.8%22.2%19.0%43.0%29.3%14.7%22.8%15.3%5.7%0%+0.8%+3.2%+13.7%-0.6%-17.1%Consumer Price Inflation(CPI)-1.9%*CHINAJAPANSINGAPOREDecreaseIncreaseby 3%Increase by3%6%Increase by6%10%Consumer Price Inflation(CPI)-1.9%*I

146、ncrease by 10%No Change21.0%19.4%4.2%3.6%22.1%14.7%40.9%29.9%11.7%15.1%15.1%2.3%-1.6%-0.6%+7.4%+11.0%-3.4%-12.8%DecreaseIncreaseby 3%Increase by3%6%Increase by6%10%Increase by 10%No Change41.1%22.0%4.8%2.8%38.9%28.9%23.7%14.3%9.8%5.6%5.3%2.8%-19.1%-2.0%+10.1%+9.4%+4.5%-2.8%Consumer Price Inflation(C

147、PI)-1.5%*DecreaseIncreaseby 3%Increase by3%6%Increase by6%10%No Change19.4%17.9%1.6%2.4%33.0%29.5%37.7%29.2%5.4%Increase by 10%9.4%10.8%3.6%-1.5%+0.8%+3.5%+8.5%-5.4%-5.8%Consumer Price Inflation(CPI)-3.2%*DecreaseIncreaseby 3%Increase by3%6%Increase by6%10%No Change6.7%7.2%1.2%22.9%12.1%47.0%31.5%16

148、.9%Increase by 10%21.8%27.9%4.8%+0.5%+10.8%+1.2%+15.5%-11.0%-17.0%Consumer Price Inflation(CPI)-2.4%*REMUNERATION TRENDSINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT USSALARY EXPECTATIONS IN 2024Employees EmployersOverall,more employers across Asia emerge hopeful in terms of av

149、oiding salary cuts or a lack of raises this year,as compared to employees who remain cautious over expectations.The opposite is also true on the higher end of the spectrum.Employees hopeful for a large increase are likely to experience higher odds of disappointment,as more employers were not as will

150、ing to match their expectations.Adjusted to each respective markets Consumer Price Inflation,workers in Japan and Singapore stand to be hit the hardest,with a large proportion of wages(up to 53.3%of employees)falling behind economic changes.*Source:Economist Intelligence_Asia,2024 forecast2024 HAYS

151、ASIA SALARY GUIDE25Bonuses across the region were also impacted,with all markets experiencing declining percentages of employers looking to offer them.Those who were continuing to offer bonus-es were also considering to offer them at lower amounts compared to 2023.Less employees will find themselves

152、 eligible for bonus this year.This dip was most pronounced in Japan and Singapore,which both saw close to a 10%decline in the number of employers looking to offer bonuses in 2024.80.3%CHINA202220232024NoYes,but for lower amounts than previouslyYes,but for less staff than previouslyYesHONG KONG SARJA

153、PANMALAYSIASINGAPORETHAILAND6.2%7.6%6.0%60.4%13.8%31.0%6.3%59.3%15.5%19.7%6.1%REMUNERATION TRENDSINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT USBONUS EXPECTATIONS IN 202420222023202465.3%5.7%12.5%16.5%58.4%11.5%21.7%11.6%57.9%15.7%18.3%11.8%20222023202475.0%2.9%9.1%13.0%72.1%4

154、.3%11.8%17.1%65.5%9.4%9.6%14.0%20222023202461.3%4.8%17.5%16.4%66.7%6.4%22.5%12.0%64.9%11.3%14.4%12.5%20222023202469.0%6.6%12.3%12.1%71.6%6.9%23.1%11.8%64.2%11.8%13.1%8.4%202456.6%16.9%12.0%16.9%*Note:The response percentages in 2024 may exceed 100%as participants were allowed to select multiple opti

155、ons in this years survey.2024 HAYS ASIA SALARY GUIDEEmployer Perspectives262024 HAYS ASIA SALARY GUIDEINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT USREMUNERATION TRENDSIn 2024,salary predictions appeared to take a more conservative turn compared to previous years.Both employer

156、s and employees were anticipating increments of 6%and under,reflecting a general sentiment of caution.Notably,expectations for raises exceeding 10%experienced a significant reduction,with over 50%of such optimistic projections being trimmed.The most pronounced gap between employee expectations and e

157、mployer readiness emerged in the bracket of raises surpassing 10%.This calls for candidates to carefully manage their expectations considering the apparent disparities in preparedness between the two parties.Candidates should feel emboldened to push for raises between 3-6%,which employers were most

158、prepared to offer.Even within the 6-10%range,both employees and employers demonstrated a marked decline in expectations for such increments.Contrastingly,there was a noticeable shift in focus towards increments falling between 3 to 6%.Both employees and employers expressed an increased interest in t

159、his range compared to the preceding year.Simultaneously,the number of workers expecting increments below 3%tripled,indicating a broader expectation of more modest raises.A parallel increase was observed in the number of employees foreseeing no change to their salaries in the upcoming year.In this co

160、ntext,employer trends reflected a decrease in readiness to maintain stagnant wages.With Consumer Price Inflation trending at 1.9%,up to 45.1%of the workforce may find themselves just keeping pace with the economic pressures anticipated in the coming year.SALARY PREDICTIONS FOR|CHINA|Employees Employ

161、ersConsumer Price Inflation(CPI)-1.9%*Source:Economist Intelligence_Asia,2024 forecastDecreaseIncreaseby 3%Increase by3%6%Increase by6%10%Increase by 10%No Change21.0%19.4%4.2%3.6%22.1%14.7%40.9%29.9%11.7%15.1%15.1%2.3%-1.6%-0.6%+7.4%+11.0%-3.4%-12.8%DecreaseNo changeIncrease10%2024 COMPARISON202220

162、2320244.7%4.4%16.5%27.0%47.0%0.4%6.4%4.3%16.5%25.8%46.6%0.4%21.0%14.7%29.9%15.1%15.1%4.2%20222023202417.9%13.8%41.8%17.1%7.4%2.0%23.1%13.5%34.6%18.2%6.4%4.2%19.4%22.1%40.9%11.7%2.3%3.6%Y.O.Y.COMPARISON 272024 HAYS ASIA SALARY GUIDEINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT U

163、SREMUNERATION TRENDSSalary trends were muted for 2024,with a majority of the workforce anticipating increments of 6%and under.Notably,the prospect of employers giving out raises exceeding 10%faced a significant reduction by approximately half,underscoring a more conservative approach to compensation

164、.The most pronounced gap between employee expectations and employer readiness emerged in the bracket of raises surpassing 10%.This calls for candidates to carefully manage their expectations considering the apparent disparities in preparedness between the two parties.Candidates should feel emboldene

165、d to push for raises of up to 6%,which employers were most prepared to offer.Within the range of 6-10%,expectations for salary increases saw a decline on both sides of the employment spectrum.The decrease in the number of employees anticipating raises in this bracket was mirrored by a corresponding

166、decrease in employers expressing willingness to offer such increments.In contrast,a slightly higher number of workers and employers were aligning their expectations and preparations for raises falling between 3 to 6%,compared to the previous year.However,deviations surfaced in the category of increm

167、ents below 3%,where a slight reduction in employee expectations contrasted with a marginal increase in employer preparedness to offer it.Conversely,a noteworthy shift was observed in the perception of salary stagnation,as more employees expressed an expectation of no change in their compensation for

168、 the coming year.This sentiment ran counter to employer preparedness,where a reduced inclination to maintain current salary levels was evident.A minor uptick in the anticipation of salary reductions was noted among both employees and employers.With Consumer Price Inflation trending at 1.6%,up to 50.

169、3%of the workforce may find themselves just keeping pace with economic pressures in the coming year.SALARY PREDICTIONS FOR|HONG KONG SAR|Consumer Price Inflation(CPI)-1.6%*Source:Economist Intelligence_Asia,2024 forecastDecreaseIncreaseby 3%Increase by3%6%Increase by6%10%Increase by 10%No Change18.0

170、%14.4%3.9%4.6%31.3%22.0%38.9%29.3%8.2%12.2%14.6%2.6%-3.6%+0.7%+9.3%+9.6%-4.0%-12.0%20222023202419.6%24.5%22.2%11.9%20.4%1.4%14.6%22.7%25.4%13.1%22.0%2.2%18.0%22.0%29.3%12.2%14.6%3.9%20222023202431.8%30.4%22.8%6.8%6.5%1.7%25.2%27.8%24.6%8.0%10.3%4.1%14.4%31.3%38.9%8.2%2.6%4.6%Employees EmployersY.O.Y

171、.COMPARISON 2024 COMPARISONDecreaseNo changeIncrease10%282024 HAYS ASIA SALARY GUIDEINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT USREMUNERATION TRENDSNotable fluctuations were observed,particularly around the upper and lower ranges.Both employees and employers exhibited lower

172、confidence when it came to navigating raises exceeding 10%.Interestingly,the proportion of employers looking to offer increments in the 6-10%range almost tripled from the previous year.However,employees seemed to hold more conservative estimates within this bracket.The most pronounced gap between em

173、ployee expectations and employer readiness emerged in the bracket of no salary increments.Candidates may take this in stride this year,and feel empowered to push for a raise of up to 6%,which was the range that more employers are prepared to offer.A parallel trend unfolded in the 3-6%range,with a hi

174、gher proportion of employers expressing willingness to provide this increment compared to 2023.In contrast,a lower proportion of employees shared a similar sentiment,reflecting a nuanced discrepancy in expectations.Expectations for raises under 3%experienced a decline compared to 2023 among both emp

175、loyees and employers alike.The prevailing sentiment among the bulk of employees was an expectation of no changes to their remuneration in the current year.This marked a significant increase compared to previous years,a trend also observed among employers,albeit at a comparatively lower rate.Minimal

176、adjustments were noted in the proportion of employees expecting a loss of salary,mirroring similar stability in the stance of employers willing to implement such reductions.With Consumer Price Inflation trending at 1.5%,up to 63.8%of the workforce will have some trouble keeping pace with economic pr

177、essures in the coming year.SALARY PREDICTIONS FOR|JAPAN|Consumer Price Inflation(CPI)-1.5%*Source:Economist Intelligence_Asia,2024 forecastDecreaseIncreaseby 3%Increase by3%6%Increase by6%10%Increase by 10%No Change41.1%22.0%4.8%2.8%38.9%28.9%23.7%14.3%9.8%5.6%5.3%2.8%-19.1%-2.0%+10.0%+9.4%+4.5%-2.8

178、%20222023202437.4%33.2%15.4%5.3%5.9%2.8%29.3%38.2%16.5%6.4%7.4%2.2%41.1%28.9%14.3%5.3%5.6%4.8%20222023202427.0%41.8%20.6%5.6%3.2%1.8%15.4%52.2%22.3%3.4%3.9%2.8%22.0%38.9%23.7%9.8%2.8%2.8%Employees EmployersY.O.Y.COMPARISON 2024 COMPARISONDecreaseNo changeIncrease10%292024 HAYS ASIA SALARY GUIDEINTRO

179、DUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT USREMUNERATION TRENDSThe most pronounced gap between employee expectations and employer readiness emerged in the bracket of raises surpassing 10%.This calls for candidates to carefully manage their expectations considering the apparent d

180、isparities in preparedness between the two parties.Candidates should feel emboldened to push for raises of between 3-6%,which employers were most prepared to offer.Employee expectations for increments fell among the range of 6%and above compared to previous year.There was also a minor increment in c

181、andidates who foresaw salary cuts in 2024.Among employers,wage increases between 3 to 10%went up compared to 2023,with expectations in other brackets falling.With Consumer Price Inflation trending at 1.9%,up to 36.6%of the workforce will have some trouble keeping pace with economic pressures in the

182、coming year.SALARY PREDICTIONS FOR|MALAYSIA|Consumer Price Inflation(CPI)-1.9%*Source:Economist Intelligence_Asia,2024 forecastDecreaseIncreaseby 3%Increase by3%6%Increase by6%10%Increase by 10%No Change12.6%12.6%1%1.8%22.2%19.0%43.0%29.3%14.7%22.8%15.3%5.7%0%+0.8%+3.2%+13.7%-0.6%-17.1%2022202320241

183、5.4%16.9%23.8%18.4%23.9%1.6%11.9%14.0%25.3%19.0%28.6%1.2%12.6%19.0%29.3%15.3%22.8%1.0%20222023202433.1%24.6%24.5%7.8%5.7%4.3%15.9%25.0%35.6%10.8%10.4%2.3%12.6%22.2%43.0%14.7%5.7%1.8%Employees EmployersY.O.Y.COMPARISON 2024 COMPARISONDecreaseNo changeIncrease10%302024 HAYS ASIA SALARY GUIDEINTRODUCTI

184、ON|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT USREMUNERATION TRENDSThe most pronounced gap between employee expectations and employer readiness emerged in the bracket of raises surpassing 6%.This calls for candidates to carefully manage their expectations in light of the apparent dispari

185、ties in preparedness between the two parties.Employers are most likely to offer salary increments of up to 6%,trending slightly more towards a range between 3-6%.The largest shifts in employee expectations compared to last year were within the bracket of raises above 10%,with expectations cut by mor

186、e than half.There was also a dip in expectations for salaries between 6-10%,as well as from employees expecting to take a pay cut.Expectations grew instead for increments of up to 6%,as well as among those expecting no salary changes at all.Meanwhile,employers saw a shift towards more conservative e

187、stimates,with an overall rise in all brackets below 6%increments,as well as those foreseeing a drop in pay and no change in pay.Employers looking to give raises surpassing 6%fell in comparison to 2023.With Consumer Price Inflation trending at 3.2%,up to 53.3%of the workforce will have some trouble k

188、eeping pace with economic pressures in the coming year.SALARY PREDICTIONS FOR|SINGAPORE|Consumer Price Inflation(CPI)-3.2%*Source:Economist Intelligence_Asia,2024 forecastDecreaseIncreaseby 3%Increase by3%6%Increase by6%10%No Change19.4%17.9%1.6%2.4%33.0%29.5%37.7%29.2%5.4%Increase by 10%9.4%10.8%3.

189、6%-1.5%+0.8%+3.5%+8.5%-5.4%-5.8%20222023202419.4%25.7%24.8%12.9%16.4%0.8%2.0%22.8%27.1%13.5%20.6%14.0%19.4%29.5%29.2%10.8%9.4%1.6%20222023202426.0%36.6%25.1%6.8%4.3%1.2%16.0%31.4%33.2%10.2%8.2%1.0%17.9%33.0%37.7%5.4%3.6%2.4%Employees EmployersY.O.Y.COMPARISON 2024 COMPARISONDecreaseNo changeIncrease

190、10%312024 HAYS ASIA SALARY GUIDEINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT USREMUNERATION TRENDSThe most pronounced gap between employee expectations and employer readiness emerged in the bracket of raises surpassing 6%.Although lower compared to previous year,there is still

191、 a significant proportion of candidates who are looking towards raises above 10%,almost four times greater compared to employer preparedness.In comparison,employers are most likely prepared to offer increments between 3 to 6%.SALARY PREDICTIONS FOR|THAILAND|Meanwhile,employers saw a shift towards mo

192、re conservative estimates,with an overall rise in the 3-10%raise brackets,as well as those foreseeing no change in pay.With Consumer Price Inflation trending at 2.4%,up to 31.3%of the workforce will have some trouble keeping pace with economic pressures in the coming year.Employees EmployersConsumer

193、 Price Inflation(CPI)-2.4%*Source:Economist Intelligence_Asia,2024 forecast6.7%7.2%1.2%22.9%12.1%47.0%31.5%16.9%21.8%27.9%4.8%+0.5%+10.8%+1.2%+15.5%-11.0%-17.0%2024 COMPARISONDecreaseNo changeIncrease10%32Beyond remuneration,we sought insights into what employees across different markets consider mo

194、st crucial in terms of Employee Value Propositions(EVPs).Notably,both respondents in China and Hong Kong highly valued organizational support in achieving a balance between their professional and personal lives.This underlines a shared appreciation for workplace environments that prioritize the holi

195、stic well-being of employees.On the other hand,workers in Malaysia and Singapore expressed a distinct priority for flexible work arrangements within their EVP considerations.This preference highlights the growing importance of adaptability and work-life balance in the evolving expectations of employ

196、ees in these markets.In Japan,employees displayed a strong inclination towards being empowered by engaging in challenging and impactful work.This signifies a desire for meaningful contributions and opportunities for professional development as central components of the EVP in the Japanese workplace.

197、Conversely,in Thailand,employees placed a premium on opportunities for internal growth when considering their EVPs.This indicates a strong aspiration for career advancement and skill development within the confines of the existing organisational structure.CHINAHONG KONG SARiiiiiiiiiiiiiiiiiiOrganisa

198、tion support to balance work and person life -37.2%Clear goals and direction from senior leadership -32.7%Good-fit with team -29.0%iiiiiiOrganisation support to balance work and person life -28.7%Good-fit with team -27.6%Opportunities for career growth within the company -27.4%JAPANiiiiiiiiiiiiChall

199、enging and impactful work-35.3%Flexible work arrangements-31.1%Good-fit with team-27.8%SINGAPORETHAILANDMALAYSIAiiiiiiiiiiiiFlexible work arrangements-34.5%Opportunities for career growth within the company-32.2%Organisation support to balance work and person life -27.8%iiiiiiiiiiiiFlexible work arr

200、angements-35.6Helpful and supportive direct managers-29.3%Opportunities for career growth within the company-29.1%iiiiiiiiiiiiOpportunities for career growth within the company-44.2%Opportunities to learn new,highly desired skills-30.3%Organisation support to balance work and person life-30.3%EMPLOY

201、ER VALUE PROPOSITIONINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT USEmployee PerspectivesTOP EMPLOYER VALUE PROPOSITIONS(BEYOND COMPENSATION AND BENEFITS)2024 HAYS ASIA SALARY GUIDE33THAILANDSINGAPOREMALAYSIAJAPANHONG KONG SARCHINAA universal trend is emerging with a noticeable

202、 shift back to office work across all markets.Notably,MNCs are demonstrating a significantly higher degree of flexibility,with more than 60%of these organizations providing various forms of flexible work arrangements to their staff.Strikingly,Japan stands out as a leader in flexible working,with onl

203、y 22.9%of companies mandating their employees to be fully present in the office.This alignment with the shift to return to the office is reflected in the sentiments of employees,especially those within MNCs who exhibit a higher level of agreement towards flexible work arrangement policies.Despite th

204、is,there is a prevailing amicability among employees across the board in allowing employers to determine these policies.INTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT USFLEXIBLE WORKINGEmployee Perspectives00202220232024%OF EMPLOYEES WITH NO FLEXIBLE WORK ARRANGEMENTC

205、OMPARISON BETWEEN DOMESTIC COMPANIES AND MULTINATIONAL CORPORATIONS45.0%23.6%34.8%45.7%40.7%53.9%14.8%22.8%35.6%31.2%36.7%43.6%17.8%25.5%34.8%41.4%SINGAPOREMALAYSIAJAPANHONG KONGSARCHINALOCALINTERNATIONAL44.2%68.8%47.4%61.4%48.2%30.0%40.9%22.9%30.9%29.6%OF EMPLOYEES WHO AGREES WITH THEIR WORK ARRANG

206、EMENT POLICYSINGAPOREMALAYSIAJAPANHONG KONGSARCHINALOCALINTERNATIONAL63.7%64.9%57.0%66.6%61.0%76.9%76.9%75.5%77.9%77.0%THAILANDOVERALL77.7%EMPLOYER VALUE PROPOSITION2024 HAYS ASIA SALARY GUIDEY.O.Y.COMPARISON72.3%72.8%66.7%74.0%72.7%342024 HAYS ASIA SALARY GUIDEINTRODUCTION|KEY INSIGHTS|REGION SPOTL

207、IGHT|INDUSTRY BREAKDOWN|ABOUT USEMPLOYER VALUE PROPOSITIONWHO SHOULD DECIDE ON WORK ARRANGEMENTS?Employee PerspectivesCHINAHONG KONG SARJAPANMALAYSIASINGAPORETHAILAND#1 Leadership30.2%#2 Working team and self#3 Employer/leadership AND working team and self 30.7%12.3%vs43.0%#1 Leadership38.6%#2 Worki

208、ng team and self#3 Direct manager 15.9%11.5%vs37.0%#4 Leadership+direct manager+working team&self9.6%#1 Leadership28.5%#2 Working team and self#3 Employer/leadership AND working team and self 21.9%19.2%vs41.1%vsLeadership32.0%Employer/leadership+direct manager+working team&self Working team and self

209、29.3%vsLeadership25.7%Employer/leadership+direct manager+working team&self Working team and self32.8%#1 Leadership25.2%#2 Working team and self#3 Employer/leadership+direct manager+working team&self 21.3%16.1%vs37.4%When respondents were prompted to delve into their perspectives on who should be res

210、ponsible for establishing the organizations work arrangement policies,opinions were notably diverse.While a substantial number leaned towards assigning sole discretion to leadership,an equally or even more significant number advocated for shared decision-making between employees and leadership.Notab

211、ly,Japan emerges as a noteworthy advocate for pushing the boundaries of employee involvement in decision-making.Approximately 19.2%of Japanese employees believe they should have the final say in determining work arrangements,and a total of 41.1%express the view that such decisions should be a collab

212、orative effort between them and their work team.This nuanced approach in Japan underscores the evolving dynamics of the relationship between employer and employees,emphasising the importance of shared decision-making and inclusivity in shaping the future of work arrangements.35THAILANDSINGAPOREMALAY

213、SIAJAPANHONG KONG SARCHINAFully on-site4 days/week3 days/week2 days/weekWORK ARRANGEMENT POLICIES AMONGST DISSATISFIED EMPLOYEES1 day/week1-3 days/monthFull remote48.8%15.3%23.8%6.8%1.9%1.7%1.7%64.7%9.3%9.9%6.8%3.1%3.7%2.5%57.5%7.6%15.8%8.0%2.7%4.3%4.1%58.4%12.1%14.3%7.6%3.2%2.2%2.2%55.2%14.8%16.9%5

214、.2%3.4%2.1%2.4%41.4%15.3%22.9%8.9%4.5%1.9%5.1%2024 HAYS ASIA SALARY GUIDEINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT USEMPLOYER VALUE PROPOSITIONFLEXIBLE WORKINGEmployee PerspectivesFurthermore,employees who express dissatisfaction with their current work arrangements predomi

215、nantly find themselves working fully in the office.This discontentment diminishes among those who are given some degree of flexibility in their work setups.In the context of employee preferences,work-life balance closely trails behind salary expectations in influencing the choice of a workplace.This

216、 highlights the imperative for organisations to reassess their EVPs and consider incorporating hybrid work arrangements.Furthermore,actively involving employees in the decision-making process pertaining to work arrangements becomes pivotal,presenting an opportunity for companies to align their offer

217、ings with the evolving expectations and priorities of their workforce.2024 HAYS ASIA SALARY GUIDE36AgreeDisagreeUnsureUSAGE OF AI TOOLS TO PERFORM WORK TASKSTHAILANDSINGAPOREMALAYSIAJAPANHONG KONG SARCHINAAI,SKILL SET AND DEVELOPMENTINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT

218、 USAIEmployee Perspectives2024 HAYS ASIA SALARY GUIDEIn the contemporary workplace,amidst the myriad skills expected of workers,the significance of mastering Artificial Intelligence(AI)is on the rise.There is a discernible trend indicating that employees across Asia are largely supportive of integra

219、ting AI to enhance their work.The lowest levels of support are observed in Hong Kong SAR,where 59.7%of employees endorse AI adoption,and in Japan,where support stands at 68.8%.Contrary to the eagerness exhibited by employees,many companies do not appear to be embracing AI with the same enthusiasm.Ac

220、ross all markets,except Thailand,a notable majority of employees express a lack of confidence in their organisations readiness to embrace AI and stay relevant.72.0%70.0%76.4%71.0%68.1%73.4%13.5%15.0%19.8%18.7%16.9%14.8%10.1%13.0%12.1%11.3%12.1%11.9%MY COMPANY IS EMBRACING AI SUFFICIENTLY TO STAY REL

221、EVANTTHAILANDSINGAPOREMALAYSIAJAPANHONG KONG SARCHINA36.3%34.9%43.7%44.8%41.5%48.8%39.0%41.3%39.4%48.9%35.7%35.7%17.3%22.4%19.1%16.2%19.5%15.3%AgreeDisagreeUnsure37AgreeUnsureDisagreeI FEEL SUFFICIENTLY EQUIPPED OR HAVE A CLEAR SENSE OF HOW TO ACQUIRETHE REQURIED AI SKILLS TO SUCCEED IN MY CURRENT R

222、OLE IN THE NEXT 2-5 YEARSTHAILANDSINGAPOREMALAYSIAJAPANHONG KONG SARCHINAAI,SKILL SET AND DEVELOPMENTINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT USAIEmployee Perspectives2024 HAYS ASIA SALARY GUIDEAgainst this backdrop,employees across the region candidly acknowledge the exis

223、ting gaps in their AI skill sets that are deemed crucial for future success in their roles.Despite these acknowledged gaps,a prevailing sentiment of confidence prevails,underpinned by the belief that with workplace support,they can overcome these deficiencies and acquire the necessary AI competencie

224、s.Notably,Japan emerges as an exception in this narrative,standing out with the lowest levels of confidence,both in employees own ability to acquire AI skills and in their employers capacity to support them in this endeavor.54.1%30.6%46.5%39.1%45.0%56.2%35.9%24.3%36.6%55.0%41.5%30.7%17.6%21.6%18.4%1

225、4.4%19.4%13.1%IM CONFIDENT MY EMPLOYER WILL SUPPORT ME IN DEVELOPING THE NECESSARY AI SKILLS NEEDED ON THE JOBTHAILANDSINGAPOREMALAYSIAJAPANHONG KONG SARCHINA66.4%65.1%56.0%52.3%50.5%55.5%25.7%14.3%30.0%21.7%27.2%34.3%18.3%19.3%19.5%13.2%20.5%10.2%AgreeUnsureDisagree38THAILANDSINGAPOREMALAYSIAJAPANH

226、ONG KONG SARCHINA007080007080Prioritise candidates with specific skills over traditional qualificationsOffer more training programs for employeesNo change in hiring practicesINFLUENCE OF SKILL-BASED HIRING AND DEVELOPMENT IN THE PAST YEARWellNot wellHOW WELL DOES YOUR EMPLOYER

227、SUPPORT YOUR EFFORTS TO DEVELOP NEW SKILLS?63.2%22.2%28.9%41.9%24.6%44.7%24.8%19.9%63.5%58.3%30.4%34.6%51.1%21.2%45.9%52.1%26.0%28.8%THAILANDSINGAPOREMALAYSIAJAPANHONG KONG SARCHINAAI,SKILL SET AND DEVELOPMENTINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT USSKILL-BASED HIRING AN

228、D TRAININGEmployee Perspectives2024 HAYS ASIA SALARY GUIDEAs the world of work continues to change rapidly,many markets today are experiencing a skills shortage,beyond AI.The imperative to address this gap has led to a shifting emphasis towards skills-based hiring and training,overshadowing the conv

229、entional reliance on traditional qualifications.Recognising the evolving nature of skill requirements in the workforce,organisations are increasingly prioritising candidates practical abilities and aptitudes over academic credentials.Leading this charge is China,emerging as a trendsetter in the real

230、m of skills-based hiring and development.Here,a robust correlation between prioritising skills and employee satisfaction has been established.Contrastingly,Japan has been slower to adopt this paradigm shift and remains entrenched in traditional hiring methods.In terms of employer support and skill d

231、evelopment,Japan also lags behind other markets,signaling a potential mismatch as workforce needs evolve.83.2%65.4%49.9%72.8%68.3%71.3%16.8%34.6%50.1%31.7%27.2%28.7%39Yes,definitelyYes,somewhatNot sureNo,not reallyCORRELATION BETWEEN EMPLOYEES SKILL LEVELS AND OVERALL JOB SATISFACTION AND PEFORMANCE

232、THAILANDSINGAPOREMALAYSIAJAPANHONG KONG SARCHINAAI,SKILL SET AND DEVELOPMENTINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT USSKILL-BASED HIRING AND TRAININGEmployer Perspectives2024 HAYS ASIA SALARY GUIDEThe effect this has on job satisfaction and performance should not be under

233、estimated.The impact of this dynamic interplay becomes evident in the outcomes observed in different markets,where the level of employer commitment to supporting employees directly influences their confidence levels and,subsequently,their professional trajectories.In markets where employers demonstr

234、ate a robust belief in actively supporting employees,the reciprocal response is a workforce reporting higher confidence levels in their ability to grow in their careers.China emerges as a standout in this regard,with respondents displaying a pronounced assurance in the unwavering support provided by

235、 their employers for their career development.This positive correlation suggests that a proactive stance from employers in fostering skill development translates into a more confident,engaged,and satisfied workforce.Japan paints a contrasting picture,recording one of the highest rates of employees s

236、eriously contemplating a change of role or even a shift to a different industry.This inclination could relate to the evolving skill requirements and the perceived lack of proper support from employers.The potential consequences are substantial,with the looming risk of a brain drain as employees,face

237、d with inadequate support,may find themselves compelled to switch careers to remain relevant in the swiftly evolving professional landscape.46.4%21.8%30.4%23.5%19.6%38.4%53.1%34.6%49.2%46.6%54.3%42.4%12.2%16.8%22.3%26.3%15.0%13.7%Employee Perspectives2.2%8.9%5.3%4.3%7.2%5.5%Yes,definitelyYes,somewha

238、tNot sureNo,not reallyCONSIDERED SWITCHING INDUSTRIES/ROLES DUE TO CHANGING SKILL REQUIREMENTS IN THE JOB MARKETTHAILANDSINGAPOREMALAYSIAJAPANHONG KONG SARCHINA20.1%40.8%30.5%25.0%17.4%43.5%43.2%44.5%46.0%24.1%41.6%38.2%20.7%28.4%29.2%25.4%26.3%15.4%7.0%7.4%9.7%5.6%7.1%2.9%As the integration of AI b

239、ecomes more widespread in the workforce,the gaps in skill development will become increasingly apparent,with a direct correlation between employers supporting skill development and employee confidence in acquiring AI skills in the future.Should these gaps not be addressed,workers run the risk of bei

240、ng unable to catch up with the evolving needs of the industry.Ensuring that your workforce is one that is equipped for the future ahead will come down to how your organisation approaches hiring(skills-based instead of traditional)and its readiness to keep pace with the necessary upskilling support f

241、or existing employees.RECOMMENDATIONS40LIKELIHOOD TO HIRE FREELANCERS OR CONTRACTORS OVER FULL-TIME EMPLOYEES FOR SPECIFIC SKILL-BASED PROJECTSAI,SKILL SET AND DEVELOPMENTINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT USSKILL-BASED PROJECTS AND CONTRACTORSEmployer PerspectivesWi

242、th skills gaps continuing to pose a challenge to companies needing to bulk up its workforce for the coming year,the imperative to seek alternative sources of talent becomes increasingly pronounced.One such alternative that has garnered attention is the utilisation of contract workers,presenting a fl

243、exible solution to talent deficits that many companies face today.Contract workers,often possessing highly specialized skills,offer companies the capacity to integrate professionals seamlessly into their organisational framework for the duration of specific projects,thereby addressing immediate skil

244、l shortages.However,there is still resistance towards this form of recruitment,with all markets still not being likely to hire freelancers or contractors to plug these gaps.Companies that strategically leverage contract workers alongside traditional hiring methods stand to build a more resilient,ada

245、ptable,and resourceful workforce.By embracing the potential of alternative talent sources,organisations position themselves to thrive in an environment where skill requirements are dynamic and diverse,ensuring sustained success in the face of ongoing challenges in the talent market.(CN market not po

246、lled)RECOMMENDATIONS2024 HAYS ASIA SALARY GUIDEYes,much more likelySomewhat more likelyNot very likely Not likely at all 10.6%8.6%10.3%6.5%16.4%26.3%23.3%31.7%31.3%28.8%41.3%42.2%41.3%41.0%42.5%21.8%25.9%16.7%21.2%12.3%SINGAPOREMALAYSIAJAPANHONG KONG SARTHAILAND412024 HAYS ASIA SALARY GUIDE42INTRODU

247、CTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT USREGION SPOTLIGHTEMPLOYEE PERSPECTIVESTOP THREE REASONS FOR STAYING WITH CURRENT EMPLOYERWork-lifeBalanceSalaryPackage32.2%1Fit in well withmanager/colleagues 28.9%40.9%232.2%232.2%328.9%328.9%Lack of careerprogression Seeking newchalleng

248、es Salary package wastoo low 45.3%145.3%145.3%236.7%322.6%WHAT ARE YOUR CAREER PLANS IN THE NEXT 12 MONTHS?Stay in the same role with my current organisation50.1%37.9%Be promoted or find a new role within my current organisationFollow a completely different career path3.8%4.3%Set up my own business/

249、become self-employed29.8%Change organisation but stay within the same role/industry9.7%Pick up additional jobs apart from my primary job26.6%Open to new opportunitiesTOP FIVE BENEFITSCareer progressionopportunitiesFlexible working Over 20 days annual leave Mental/physical wellbeing-related Learning

250、and development-related What Employees Want1234560.6%47.6%45.1%40.7%56.2%What Employers OfferCongratulatory orcondolence leave Childcare leave/benefits/programsInsuranceExtended medicalcoverageFlexible working1234574.7%58.7%54.0%67.5%54.9%Bold text:Similar benefitsREGION SPOTLIGHT2024 HAYS ASIA SALA

251、RY GUIDE42CHINAINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT US2024 HAYS ASIA SALARY GUIDE43TOP THREE REASONS FOR LEAVING PREVIOUS EMPLOYERKEY ROLES TO HIRE32.0%IT/Technology 49.2%Sales18.8%Marketing/Public Relations RECRUITMENT PLAN IN 2024More Full-Time StaffMore Contract Sta

252、ff21.9%27.1%REGION SPOTLIGHTCHINAINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT USEMPLOYER PERSPECTIVESEMPLOYEE&EMPLOYER PERSPECTIVES2024 HAYS ASIA SALARY GUIDE44TOP THREE EMPLOYER VALUE PROPOSITION(beyond compensation&benefits)29.0%37.2%iii32.7%iiiOrganisation support to balanc

253、e work and person life -37.2%Clear goals and direction from senior leadership -32.7%Good-fit with team -29.0%iiiiiiSALARY EXPECTATIONS IN 2024EmployeesEmployersConsumer Price Inflation(CPI)-1.9%*Source:Economist Intelligence_Asia,2024 forecastEMPLOYEE PERSPECTIVESDecreaseIncreaseby 3%Increase by3%6%

254、Increase by6%10%Increase by 10%No Change21.0%19.4%4.2%3.6%22.1%14.7%40.9%29.9%11.7%15.1%15.1%2.3%-1.6%-0.6%+7.4%+11.0%-3.4%-12.8%REGION SPOTLIGHTHONG KONG SARINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT USEMPLOYEE PERSPECTIVESWork-lifeBalanceFit in well withmanager/colleagues

255、34.8%1SalaryPackage32.2%35.5%234.8%234.8%332.2%332.2%WHAT ARE YOUR CAREER PLANS IN THE NEXT 12 MONTHS?Open to new opportunities 38.9%34.8%Stay in the same role with my current organisation Set up my own business/become self-employed 2.8%5.6%Pick up additional jobs apart from my primary job 32.9%Chan

256、ge organisation but stay within the same role/industry6.1%Follow a completely different career path 30.1%Promoted or find a new role within my current organisationTOP FIVE BENEFITSWhat Employees WantWhat Employers OfferInsuranceFlexible workingCongratulatory orcondolence leaveLearning and developmen

257、t related Over 20 daysannual leave 1234571.9%48.0%35.7%53.1%38.8%Bold text:Similar benefits2024 HAYS ASIA SALARY GUIDE422024 HAYS ASIA SALARY GUIDE45Lack of careerprogression Seeking newchallenges Salary package wastoo low 33.1%133.1%133.1%233.1%329.5%Over 20 daysannual leave Flexible working Career

258、 progressionopportunities Insurance Extended medicalcoverage 1234561.8%52.2%50.1%34.8%58.9%TOP THREE REASONS FOR STAYING WITH CURRENT EMPLOYERTOP THREE REASONS FOR LEAVING PREVIOUS EMPLOYERKEY ROLES TO HIRERECRUITMENT PLAN IN 2024REGION SPOTLIGHTHONG KONG SARINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGH

259、T|INDUSTRY BREAKDOWN|ABOUT USEMPLOYER PERSPECTIVESEMPLOYEE&EMPLOYER PERSPECTIVES2024 HAYS ASIA SALARY GUIDE46TOP THREE EMPLOYER VALUE PROPOSITION(beyond compensation&benefits)Organisation support to balance work and person life -28.7%Good-fit with team -27.6%Opportunities for career growth within th

260、e company -27.4%iiiiii27.4%28.7%iii27.6%iiiSALARY EXPECTATIONS IN 2024EmployeesEmployersConsumer Price Inflation(CPI)-1.6%*Source:Economist Intelligence_Asia,2024 forecastEMPLOYEE PERSPECTIVESMore Full-Time StaffMore Contract Staff15.1%27.4%30.6%IT/Technology 31.7%SalesAccountancy&Finance15.6%Decrea

261、seIncreaseby 3%Increase by3%6%Increase by6%10%Increase by 10%No Change18.0%14.4%3.9%4.6%31.3%22.0%38.9%29.3%8.2%12.2%14.6%2.6%-3.6%+0.7%+9.3%+9.6%-4.0%-12.0%REGION SPOTLIGHTJAPANINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT USEMPLOYEE PERSPECTIVESWork location/Flexibleworking o

262、ptions Salary package 37.6%1Work-lifebalance36.8%41.5%237.6%237.6%336.8%336.8%WHAT ARE YOUR CAREER PLANS IN THE NEXT 12 MONTHS?Open to new opportunities 39.6%34.7%Change organisation but stay within the same role/industry Set up my own business/become self-employed 6.1%14.3%Follow a completely diffe

263、rent career path 29.5%Stay in the same role with my current organisation 15.2%Pick up additional jobs apart from my primary job 25.0%Promoted or find a new role within my current organisationTOP FIVE BENEFITSWhat Employees WantWhat Employers OfferFlexible working Congratulatory orcondolence leave Ov

264、ertime pay Childcare leave Insurance 1234567.6%58.9%49.5%63.1%58.2%Bold text:Similar benefits2024 HAYS ASIA SALARY GUIDE422024 HAYS ASIA SALARY GUIDE47Seeking newchallenges Salary packagewas too low Lack of careerprogression 33.9%133.9%133.9%231.7%331.4%Flexible working Over 20 daysannual leave Care

265、er progressionopportunities Housing allowance Financial support forprofessional study 1234563.6%40.3%33.2%30.5%44.3%TOP THREE REASONS FOR STAYING WITH CURRENT EMPLOYERTOP THREE REASONS FOR LEAVING PREVIOUS EMPLOYERKEY ROLES TO HIRERECRUITMENT PLAN IN 2024REGION SPOTLIGHTJAPANINTRODUCTION|KEY INSIGHT

266、S|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT USEMPLOYER PERSPECTIVESEMPLOYEE&EMPLOYER PERSPECTIVES2024 HAYS ASIA SALARY GUIDE48TOP THREE EMPLOYER VALUE PROPOSITION(beyond compensation&benefits)Challenging and impactful work -35.3%Flexible work arrangements -31.1%Good-fit with team -29.3%iiiiii29.3%35

267、.3%iiiiii31.1%SALARY EXPECTATIONS IN 2024EmployeesEmployersConsumer Price Inflation(CPI)-1.5%*Source:Economist Intelligence_Asia,2024 forecastEMPLOYEE PERSPECTIVESMore Full-Time StaffMore Contract Staff20.1%33.7%Sales33.7%IT/Technology 37.3%15.4%Marketing/Public Relations DecreaseIncreaseby 3%Increa

268、se by3%6%Increase by6%10%Increase by 10%No Change41.1%22.0%4.8%2.8%38.9%28.9%23.7%14.3%9.8%5.6%5.3%2.8%-19.1%-2.0%+10.0%+9.4%+4.5%-2.8%MALAYSIAREGION SPOTLIGHTINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT USEMPLOYEE PERSPECTIVESWork location/Flexibleworking options Work-lifebal

269、ance 36.3%1Fit in well with mymanager/colleagues 32.6%36.4%236.3%236.3%332.6%332.6%WHAT ARE YOUR CAREER PLANS IN THE NEXT 12 MONTHS?Open to new opportunities 49.5%38.1%Change organisation but stay within the same role/industry Set up my own business/become self-employed 5.9%9.0%Pick up additional jo

270、bs apart from my primary job 35.5%Promoted or find a new role within my current organisation10.4%Follow a completely different career path 30.5%Stay in the same role with my current organisationTOP FIVE BENEFITSWhat Employees WantWhat Employers OfferInsuranceFlexible working Learning anddevelopment-

271、related Congratulatory orcondolence leave Over 20 days annual leave 1234575.3%57.5%46.5%57.5%51.1%Bold text:Similar benefits2024 HAYS ASIA SALARY GUIDE422024 HAYS ASIA SALARY GUIDE49Seeking newchallenges Salary packagewas too low Lack of careerprogression 38.9%138.9%138.9%232.3%331.7%Flexible workin

272、g Career progressionopportunities Insurance Over 20 daysannual leave Learning and development-related 1234571.6%54.8%42.1%32.8%58.3%TOP THREE REASONS FOR STAYING WITH CURRENT EMPLOYERTOP THREE REASONS FOR LEAVING PREVIOUS EMPLOYERKEY ROLES TO HIRERECRUITMENT PLAN IN 2024REGION SPOTLIGHTMALAYSIAINTRO

273、DUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT USEMPLOYER PERSPECTIVESEMPLOYEE&EMPLOYER PERSPECTIVES2024 HAYS ASIA SALARY GUIDE50TOP THREE EMPLOYER VALUE PROPOSITION(beyond compensation&benefits)Flexible work arrangements -34.5%Opportunities for career growth within the company -32.2

274、%Organisation support to balance work and person life -27.8%iiiiii27.8%34.5%iiiiii32.2%SALARY EXPECTATIONS IN 2024EmployeesEmployersConsumer Price Inflation(CPI)-1.9%*Source:Economist Intelligence_Asia,2024 forecastEMPLOYEE PERSPECTIVESMore Full-Time StaffMore Contract Staff15.7%30.5%Accountancy&Fin

275、ance20.9%33.4%IT/Technology 35.3%SalesDecreaseIncreaseby 3%Increase by3%6%Increase by6%10%Increase by 10%No Change12.6%12.6%1%1.8%22.2%19.0%43.0%29.3%14.7%22.8%15.3%5.7%0%+0.8%+3.2%+13.7%-0.6%-17.1%SINGAPOREREGION SPOTLIGHTINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT USEMPLOYE

276、E PERSPECTIVESFit in well with mymanager/colleagues Work location/Flexible working options 35.9%1Work-lifebalance 35.5%37.2%235.9%235.9%335.5%335.5%WHAT ARE YOUR CAREER PLANS IN THE NEXT 12 MONTHS?Open to new opportunities 47.3%37.9%Stay in the same role with my current organisationSet up my own bus

277、iness/become self-employed 5.0%7.1%Pick up additional jobs apart from my primary job 35.2%Change organisation but stay within the same role/industry 7.1%Follow a completely different career path 31.9%Promoted or find a new role within my current organisation TOP FIVE BENEFITSWhat Employees WantWhat

278、Employers OfferInsuranceChildcare leave Flexible working Learning and development-related Over 20 days annual leave 1234571.2%63.5%50.7%70.9%53.7%Bold text:Similar benefits2024 HAYS ASIA SALARY GUIDE422024 HAYS ASIA SALARY GUIDE51Lack of careerprogression Seeking newchallenges Salary packagewas too

279、low 38.2%138.2%138.2%232.1%330.2%Flexible working Career progressionopportunities Over 20 daysannual leave Insurance Learning and development-related 1234574.3%59.3%50.6%35.8%61.7%TOP THREE REASONS FOR STAYING WITH CURRENT EMPLOYERTOP THREE REASONS FOR LEAVING PREVIOUS EMPLOYERKEY ROLES TO HIRERECRU

280、ITMENT PLAN IN 2024REGION SPOTLIGHTSINGAPOREINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT USEMPLOYER PERSPECTIVESEMPLOYEE&EMPLOYER PERSPECTIVES2024 HAYS ASIA SALARY GUIDE52TOP THREE EMPLOYER VALUE PROPOSITION(beyond compensation&benefits)Flexible work arrangements -35.6%Helpful

281、 and supportive direct managers -29.3%Opportunities for career growth within the company -29.1%iiiiii29.1%35.6%iiiiii29.3%SALARY EXPECTATIONS IN 2024EmployeesEmployersConsumer Price Inflation(CPI)-3.2%*Source:Economist Intelligence_Asia,2024 forecastEMPLOYEE PERSPECTIVESMore Full-Time StaffMore Cont

282、ract Staff11.9%29.9%Office Professional14.9%30.8%IT/Technology 37.5%SalesAccountancy&Finance14.9%DecreaseIncreaseby 3%Increase by3%6%Increase by6%10%No Change19.4%17.9%1.6%2.4%33.0%29.5%37.7%29.2%5.4%Increase by 10%9.4%10.8%3.6%-1.5%+0.8%+3.5%+8.5%-5.4%-5.8%THAILANDREGION SPOTLIGHTINTRODUCTION|KEY I

283、NSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT USEMPLOYEE PERSPECTIVESSalarypackage Work-lifebalance 34.4%1Work location/Flexible working options 32.3%36.5%234.4%234.4%332.3%332.3%TOP THREE REASONS FOR LEAVING PREVIOUS EMPLOYERWHAT ARE YOUR CAREER PLANS IN THE NEXT 12 MONTHS?Open to new opportuni

284、ties 49.4%30.6%Promoted or find a new role within my current organisation Set up my own business/become self-employed 5.6%7.2%Pick up additional jobs apart from my primary job 28.9%Change organisation but stay within the same role/industry 7.8%Follow a completely different career path 28.3%Stay in t

285、he same role with my current organisation TOP FIVE BENEFITSWhat Employees WantWhat Employers OfferInsuranceFlexible working Career progressionopportunities Learning and development-related Congratulatory orcondolence leave 1234574.7%49.4%37.3%59.0%45.8%Bold text:Similar benefits2024 HAYS ASIA SALARY

286、 GUIDE422024 HAYS ASIA SALARY GUIDE53Seeking newchallenges Lack of careerprogression Salary packagewas too low 39.7%139.7%139.7%230.6%320.7%Flexible working Insurance Career progressionopportunities Learning anddevelopment-related Over 20 days annual leave 1234561.8%58.2%38.8%37.6%61.8%TOP THREE REA

287、SONS FOR STAYING WITH CURRENT EMPLOYERKEY ROLES TO HIRERECRUITMENT PLAN IN 2024REGION SPOTLIGHTTHAILANDINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT USEMPLOYER PERSPECTIVESEMPLOYEE&EMPLOYER PERSPECTIVES2024 HAYS ASIA SALARY GUIDE54TOP THREE EMPLOYER VALUE PROPOSITION(beyond com

288、pensation&benefits)Opportunities for career growth within the company -44.2%Opportunities to learn new,highly desired skills -30.3%Organisation support to balance work and person life -30.3%iiiiii30.3%44.2%iiiiii30.3%SALARY EXPECTATIONS IN 2024EmployeesEmployersConsumer Price Inflation(CPI)-2.4%*Sou

289、rce:Economist Intelligence_Asia,2024 forecastEMPLOYEE PERSPECTIVESMore Full-Time StaffMore Contract Staff22.8%40.5%Office Professional17.7%34.2%IT/Technology 35.4%Sales6.7%7.2%1.2%22.9%12.1%47.0%31.5%16.9%21.8%27.9%4.8%+0.5%+10.8%+1.2%+15.5%-11.0%-17.0%DecreaseNo changeIncrease10%INTRODUCTION|KEY IN

290、SIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT US2024 HAYS ASIA SALARY GUIDE55INDUSTRY BREAKDOWNSURVEY HIGHLIGHTS ACROSS ASIACAREER PLANS IN THE NEXT 12 MONTHSChange organisation but stay within the same role/industry35.3%30.8%Be promoted or find a new role within my current organisation35.7%Stay

291、in the same role with my current organisation42.9%Open to new opportunitiesSALARY EXPECTATIONS IN 202418.6%23.5%28.5%10.8%EMPLOYEE PERSPECTIVES?ecrease2.7%Increaseby 3%Increase by3%6%Increase by6%10%Increase by 10%No Change15.9%TOP FIVE REASONS FOR STAYINGWork-lifebalance?ork location?le?ibleworking

292、 options32.7%1Salarypackage32.1%37.5%232.7%232.7%332.1%332.1%?it in well withmanager?colleagues28.5%428.5%428.5%Waiting for bonus/promotion/internal transfer20.6%520.6%520.6%TOP FIVE REASONS FOR LEAVINGSeeking newchallengesLack of careerprogression32.2%1Salary packagewas too low31.7%37.9%232.2%232.2

293、%331.7%331.7%Poor work-lifebalance18.5%418.5%418.5%Did not identify with valuesand culture of company13.6%513.6%513.6%ACCOUNTANCY&FINANCE TRENDSINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT US202?S?SI?S?L?G?I?56 Echo Wang|Senior Business Director?hile large multinational compan

294、ies will e?perience a slowdown in recruitment,key regional positions in particular show a slow rising trend.?ccounting related?obs remain on the decline due to work being outsourced to financial sharing centres in Southeast?sia.?t the same time,there is a shortage of candidates to fill key finance r

295、oles.?ecent?ob openings come with higher candidate prere?uisites,emphasising a preference for indi?iduals with e?tensi?e industry and pro?ect e?perience.?ecruitment cycles for these positions ha?e also lengthened.Simultaneously,budget constraints are more pronounced compared to 2023 as employers loo

296、k to ma?imise output within these constrained financial parameters.CHINAIN-DEMAND JOBS?sia Pacific Compliance?fficer?sia Pacific?uditor?inancial BP?C?he commercial sector has e?perienced a notable shift in recent years,dri?en by the rise of digitalisation and the establishment of centres ofe?cellenc

297、e and shared ser?ice centres.?oteworthy changes include the incorporation of?I in accountancy recruitment,the ongoing adoption of hybrid work models,and a heightened emphasis on di?ersity and inclusion initiati?es aimed at attracting and retaining top talent.In a period marked by a talent e?odus and

298、 heightened company efforts for retention,these initiati?es become particularly crucial.?mployers are compelled to present enticing career paths and competiti?e packages to attract suitable indi?iduals.IN-DEMAND JOBS?inance?ransformation Lead?C?P?anager?irector?a?anager?irector?reasury?anager?irecto

299、r?Internal?udit?anager?irector Credit Controller?ccounts Payable?anager?inancial Controller?Commercial?anager?Corporate?inance?anager?irector HONG KONG SARLorraine Shan|Manager202?S?SI?S?L?G?I?57 ACCOUNTANCY&FINANCE TRENDSINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT US56?inanc

300、e?irector?inancial Planning?irector?a?irector?Internal?udit?compliance?ead?he market for accounting and finance professionals in?alaysia remains relati?elysteady.Indi?iduals with a combination of soft skills and robust technical e?pertise hold an edge in securing opportunities that align with their

301、skill set.Organisations adept at responding to market demands are increasingly seeking talent from specific functions to meet business re?uirements and enhance efficiency through the integration of automation.?ith more companies mobilising roles from?urope to?sia due to geopolitical instability,we f

302、oresee an increase in demand for?uropean?oreign Language specialists to meet this trend.IN-DEMAND JOBS?inancial Controller SSC Transformation Lead?oreign Language Speakers?aluation?anager IPO Consultant?P?anager?reasury?anager?Internal?uditor?inancial?nalyst?inance?anager MALAYSIAVishalane Devi|Mana

303、ger?apan is currently in an interesting position of slow and steady growth in wages and prices within its economy that is being dri?en by success in its domestic?manufacturers,a buoyant?okyo Stock?change and large outside in?estment.?owe?er,all this is being s?uee?ed by the weak?en and a moderate up

304、tick in inflation.Both domestic and foreign companies are anticipated to approach recruitment budgets with caution amid ongoing global uncertainty.?owe?er,fle?ibility will be key in making hiring decisions to establish solid candidate pipelines,for fear of missing out on top talent in the market due

305、 to a lack of speed.IN-DEMAND JOBS?Senior?P?nalyst?P?anager?Senior?ccountant?Staff?ccountant JAPANJair Riley|Team Manager57 202?S?SI?S?L?G?I?58ACCOUNTANCY&FINANCE TRENDSINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT USSINGAPOREIn Singapores pursuit of leadership in innovation an

306、d technology,employers are acti?ely searching for candidates e?uipped with strong digital skills.?orkers with proficiency in areas like data analytics,artificial intelligence,cloud computing,and cybersecurity will ha?e a competiti?e edge and are more likely to secure better opportunitiesand higher s

307、alaries.Se?eral companies ha?e chosen to relocate their regional head?uarters from China to Singapore as a strategic mo?e to mitigate geopolitical risks.?otably,Chinese groups are acti?ely establishing holding companies to future-proof their businesses amidst e?ol?ing perceptions of corporate China.

308、Singapore is benefiting from this trend,le?eraging its status as a global financial centre with substantial capital flows.Kelly Wee|Business DirectorTrends InContract Recruitment?here is a consistent demand for?ccountancy and?inance contract professionals,predominantly for low to mid-le?el roles.?ow

309、e?er,due to the uptick in total employment and an e?ceptionally low unemployment rate,candidate a?ailability for contracting roles can still be challenging.?his is despite an increase in layoffs that have been primarily attributed to restructures and cost concerns,contributing to a flattening of wag

310、es compared to the growth obser?ed in recent years.?ob numbers ha?e declined from their peak in?arch 2022,but there is still a consistent demand for?ccountancy and?inance contractors in instances where organisations don?t want or need to commit to a permanent?.John Borneman|Regional DirectorCandidat

311、es increasingly prioritise additional benefits beyond the remuneration package,including accessibility,fle?ibility,o?erall non-financial perks,and working hours.Bilingual proficiency,especially in?nglish and?hai,remains crucial,while additional language skills such as?andarin or?apanese are gaining

312、prominence in the?ob market.?pen positions are speedily closed despite multiple rounds of inter?iews,demonstrating that companies are willing to speed up the process for good talent.Senior leadership roles now necessitate candidates to be hands-on rather than relying solely on delegation.IN-DEMAND J

313、OBSTHAILANDJet Wong|ManagerIN-DEMAND JOBS Business Partner?inance?nalyst?Corporate?inance?inance?ransformation Lead?Commercial?inance?inancial Planning?nalysis?Sustainability?ccounting?inancial Controller?ead of?inance?ccounting Costing Plant Controller?a?Corporate?inance?Budgeting?orecasting202?S?S

314、I?S?L?G?I?59ACCOUNTANCY&FINANCE TRENDSINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT US202?S?SI?S?L?G?I?60INTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT USNOTES:Salary ranges are represented in local currencies in 000 excluding Japan which is stated in milli

315、ons.All salaries are representative of the total package value.SME-Small to medium enterprise|MID-Medium to large|MNC-Multinational companies2,000-3,6003,250-5,0004,000-9,0001,500-2,8002,500-4,2503,600-6,000960-1,5001,200-2,0001,500-2,500FINANCE DIRECTOR/CFOSME600-15001,000-1,50014--240M

316、ID1,200-2,5001,400-3,00016--350MNC1,200-4,000 1,400-4,00018--650FINANCIAL CONTROLLERSME-95012--180MID600-1,000840-1,08015--210MNC800-1,500840-1,35015--260(SENIOR)FINANCE MANAGERSME-7008-1284-15685-100MID-78010-

317、16120-19291-150MNC-96014-18144-24097-180CHINAHONG KONG SAR JAPANSINGAPOREMALAYSIASINGAPOREMALAYSIACHINAHONG KONG SAR JAPANSINGAPOREMALAYSIACHINAHONG KONG SAR JAPANTHAILANDTHAILANDTHAILAND650-1,100750-1,300800-1,500(SENIOR)MANAGEMENT ACCOUNTANTSME-4206-872-10865-100MID-5

318、048-1084-12071-120MNC-5408-1296-18072-150SINGAPOREMALAYSIACHINAHONG KONG SAR JAPANTHAILANDCOMMERCE&INDUSTRY|SENIOR FINANCEACCOUNTANCY&FINANCE202?S?SI?S?L?G?I?61ACCOUNTANCY&FINANCECOMMERCE&INDUSTRY|SENIOR FINANCENOTES:Salary ranges are represented in local currencies in 000 excluding Japan

319、which is stated in millions.All salaries are representative of the total package value.SME-Small to medium enterprise|MID-Medium to large|MNC-Multinational companiesINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT US650-1,100750-1,300800-1,5001,500-2,5001,800-3,0002,500-4,000960-1

320、,5001,200-2,0001,500-2,500(SENIOR)FINANCIAL ACCOUNTANTSME-4206-884-12065-90MID-5406-10120-15670-110MNC-5408-10132-18078-120FP&A DIRECTORSME800-1,000840-1,00010-15180-240MID800-1,200960-1,20012-18216-300MNC800-1,6001,080-1,50014-25360-480FP&A MANAGERSME-7209-12

321、120-144MID-84012-15120-180MNC-90013-16144-240CHINAHONG KONG SAR JAPANSINGAPOREMALAYSIASINGAPOREMALAYSIACHINAHONG KONG SAR JAPANSINGAPOREMALAYSIACHINAHONG KONG SAR JAPANTHAILANDTHAILANDTHAILAND750-1,200960-1,3001,000-1,600FINANCIAL ANALYSTSME-4566-872-108MID-54

322、06-1096-144MNC-5406-9120-168SINGAPOREMALAYSIACHINAHONG KONG SAR JAPANTHAILAND-220200-28075--19060-8075-?S?SI?S?L?G?I?62ACCOUNTANCY&FINANCECOMMERCE&INDUSTRY|SENIOR FINANCENOTES:Salary ranges are represented in local currencies in 000 excluding Japan which is

323、 stated in millions.All salaries are representative of the total package value.SME-Small to medium enterprise|MID-Medium to large|MNC-Multinational companiesINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT US1,500-2,0002,000-3,0002,500-4,000800-1,2001,000-1,5001,200-2,000600-90065

324、0-1,000800-1,400TAX DIRECTOR/HEADSMEMIDMNCTAX MANAGERSMEMIDMNCTAX ACCOUNTANTSMEMIDMNCCHINAHONG KONG SAR JAPANSINGAPOREMALAYSIASINGAPOREMALAYSIACHINAHONG KONG SAR JAPANSINGAPOREMALAYSIACHINAHONG KONG SAR JAPANTHAILANDTHAILANDTHAILANDN/A2,000-3,0002,500-4,800HEAD OF TREASURY/CORPORATESMEMIDMNCSINGAPOR

325、EMALAYSIACHINAHONG KONG SAR JAPANTHAILAND-1,000800-1,-500 --1,--960840-1,2001,500-2,-840720-1,080840-1,080960-1,2001,200-2,-600450-660N/A14-2015-30N/A10-1412-18N/A12-1515-185-85-87--300300-6

326、---60060------220240-34065-8070-?S?SI?S?L?G?I?63ACCOUNTANCY&FINANCECOMMERCE&INDUSTRY|SENIOR FINANCENOTES:Salary ranges are represented in local currencies in 000 excluding Japan which is

327、stated in millions.All salaries are representative of the total package value.SME-Small to medium enterprise|MID-Medium to large|MNC-Multinational companiesINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT USN/A1,500-2,2001,700-2,800N/A700-1,000800-1,400N/A-1,000SENIOR TR

328、EASURY MANAGERSMEMIDMNCTREASURY SPECIALISTSMEMIDMNCTREASURY ACCOUNTANTSMEMIDMNCCHINAHONG KONG SAR JAPANSINGAPOREMALAYSIASINGAPOREMALAYSIACHINAHONG KONG SAR JAPANSINGAPOREMALAYSIACHINAHONG KONG SAR JAPANTHAILANDTHAILANDTHAILANDN/A1,000-2,0001,200-2,400PROJECT CONTROLLERSMEMIDMNCSINGAPOREMALAYSIACHINA

329、HONG KONG SAR JAPANTHAILANDN/A-780N/AN/AN/A-185 ------800600-1,----650600-1,000N/A6-98-10N/A7-96-86-96-10N/A10-156-812-1884--13250-6060-8472-

330、-180180-26458-7065-8575-11055-8060-9080--?S?SI?S?L?G?I?64ACCOUNTANCY&FINANCEINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT USNOTES:Salary ranges are represented in local currencies in 000 excluding Japan which is stated in millions.All salar

331、ies are representative of the total package value.SME-Small to medium enterprise|MID-Medium to large|MNC-Multinational companiesN/A1,200-1,8001,200-2,000800-1,0001,000-1,8001,500-2,400PROJECT FINANCE MANAGERSME200-400N/A7-12108-14490-120MID-6608--130MNC-7808-14144-180

332、120-140SHARED SERVICE CENTRETeam Lead-520N/A108-18060-75Manager-660N/A180-24091-130Senior Manager-960N/A-150CHINAHONG KONG SAR JAPANSINGAPOREMALAYSIASINGAPOREMALAYSIACHINAHONG KONG SAR JAPANTHAILANDTHAILANDCOMMERCE&INDUSTRY|SENIOR FINANCE2,000-4,000Head of Sha

333、red Service Centre600-1,5001,000-1,500N/A-250202?S?SI?S?L?G?I?65ACCOUNTANCY&FINANCEINTRODUCTION|KEY INSIGHTS|REGION SPOTLIGHT|INDUSTRY BREAKDOWN|ABOUT USNOTES:Salary ranges are represented in local currencies in 000 excluding Japan which is stated in millions.All salaries are representative of the total package value.--900500-900GRADUATESAssistant 80-150144-1804-65