SALES & MARKETING SALARY SURVEY - Michael Page Hong Kong

3 MICHAEL PAGE SALES & MARKETING SALARY SURVEY
NATIONAL EMPLOYMENT TRENDS SURVEY 2006
The Michael Page National Employment
Survey looks at recruitment trends and
expectations in the Hong Kong labour market
as well as overall trends from an employer’s
perspective across Hong Kong, Singapore
and Japan. The survey provides employers
and employees with an insight into market
conditions and expectations.
The survey was sent to over 14,000
employees working in Hong Kong as well
as 20,000 employers across Hong Kong,
KEY FINDINGS FROM THIS STUDY:
Employer Trends
The major corporate focus in Hong Kong is on
organic growth, followed by new projects and
headcount increases. Organic growth is also
the primary objective for the employers we
interviewed in Singapore and Japan.
58% of employers interviewed are expecting a
headcount increase in 2006/07 due to business
expansion and additional project work.
Career advancement was by far the most
common reason for staff turnover in
Hong Kong. This was also the primary reason
for turnover in Singapore and Japan.
In 15% of circumstances disagreement with
management was the reason for staff turnover
in Japan, which was signifi cantly higher than
Singapore at 5% and Hong Kong at 8%.
In Hong Kong 77% of employers surveyed said
that staff retention was a primary focus in 2006.
The main strategies being adopted were career
promotion (21%), training and development
(20%) and an increase in base salary (14%).
Across the region salary increases averaged
from 2% to 5%, with the majority reviewing
staff every one to two years.
Employers in Hong Kong are more likely to
calculate bonuses as a fi xed percentage of the
base salary rather than on a discretionary basis.
Employers in Singapore generally offer higher
levels of incentives and benefi ts in comparison
to Hong Kong and Japan.
Singapore and Japan to gain a regional
viewpoint. All surveys were sent out via email.
Respondents were employers in middle to
senior management positions from a variety of
industry sectors or candidates who were either
placed by or still looking for a role through
Michael Page.
When reading the survey please bear in
mind the commentary relates to white-collar
employment across the industries in which
we operate.
Employee Trends
When asked to rank incentives and benefi ts
in order of importance, respondents placed
greatest emphasis on bonus, stock options
and fl exible working hours.
The human resources sector reported the
highest level of base salary paid as a bonus with
64% of respondents specifying 11% or more.
Bonuses formed part of the salary package for
over 70% of respondents in the fi nance, sales
and marketing and technology industries.
The majority of respondents believed that the
training and development provided by their
company was unsatisfactory, with 33% giving
it a poor or very poor rating.
The quality of training and development was
regarded most favourably in the technology
and legal industries with 28% and 31% of
respondents rating it as good or very good.
In the fi nance, sales and marketing, technology
and engineering sectors, the most common
way in which respondents found their current
job was through a friend or personal referral.
In the human resources and legal sectors,
a recruitment consultant was used on most
occasions.
When asked whether they are likely to use a
career change to increase salary in 2006, over
60% of those in Singapore and Hong Kong
said ‘yes’ at 63% and 61% respectively.