Industry Research : Hays Salary Guide Reveals Japan’s Salary Increases in Asia
The Hays Salary Guide highlights salary and recruiting trends drawn from more than 3,000 employers across China, Singapore, Malaysia, Hong Kong, and Japan representing six million employees as well as the salary ranges for more than 1,200 roles.
The Guide reveals the majority of employers in Japan (63 per cent) plan increases of up to three per cent in the next review period. By contrast, employers in China (60 per cent) expect an increase of more than six per cent, while the majority of companies in Hong Kong, Singapore and Malaysia expect an increase of three to six per cent.
"The Guide reveals that up to a certain role level in Asia, salaries are comparatively higher in Japan. Salaries for roles in Japan such as Project Managers (IT), Programmers or R&D Engineers (Automotive) are offered a higher salary range compared to China," says Marc Burrage, Managing Director of Hays in Japan.
"But when it gets to a certain level where the role demands experience and skills, the situation flips, where you begin to see the salary range become much higher in China."
"In Japan, one of the key reasons for candidates to move to a new employer is to seek new challenges (54%) followed by lack of career progression in their current role (48%), so you can see that it’s not always about the money," said Marc.
"The biggest challenge employers have been facing is the talent shortage caused by the significant gap between the skills they need and those available, but although wages have been increasing much quicker than we have historically seen, most employers can still keep salaries in check. To fill shortages, Japan’s employers should focus more on strategies to retain their best talent and provide opportunities for upskilling and new challenges."
Laura Collins, Editorial Management
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Published: Monday, February 1, 2016