Salary & Employment Forecast - Michael Page Hong Kong

Human Resources
Employment conditions
Hiring activity in the human resources (HR)
sector steadily increased over the last 12
months, as a growing number of employers
restructured or expanded their operations in
order to take advantage of positive business
conditions in Hong Kong and the growth
potential of neighbouring countries. As
companies continue to expand their HR teams
and invest in new systems and processes, the
requirement is growing for HR professionals
with experience in organisational development
and change management. Demand is also
growing for HR Business Partners with a
strong strategic focus, as companies look
to these professionals to help support and
facilitate business growth.
Skills in demand
There is a demand for senior HR professionals
such as Regional Head of Talent Management,
Senior Talent Management Leader,
Organisation Development Director, Group
Talent Director, Head of Talent Acquisition
and HR Business Partner. There is also a
requirement for professionals with Mandarin
language skills and experience working in
China. These professionals are sought-after
to help businesses in Hong Kong expand
their operations in China and set up local HR
teams, policies and systems.
Salary expectations
Most employers in Hong Kong will be
reviewing the salaries of HR professionals
throughout the year. The average percentage
salary increase is likely to be in the 4% to 8%
range. Above average salary increases will be
reserved for in-demand roles like HR Directors
and HR Business Partners. Professionals
with specialist skills in areas like change
management, organisational development
and talent management are also likely to
receive higher than average salary increases.
Most employers will also be offering their top
performing HR professionals an annual bonus
for high achievement.
Market outlook
Over the next six to 12 months, economic
conditions in the US and Europe are likely to
have a varied impact on HR opportunities in
Hong Kong. A growing number of expatriates
are expected to return from troubled overseas
markets to take advantage of the career
progression opportunities on offer in the Asia
region. More firms are also expected to move
key talent from overseas offices into key
positions in Hong Kong, particularly within the
banking sector. Continued business expansion
in the Asia region will also drive an increasing
requirement for senior level roles.
In order to retain their most talented people,
companies in Hong Kong will be increasingly
offering guaranteed job and retention bonuses
for the completion of key projects. To attract
the best HR talent in the market, employers
will be offering above average salaries, the
opportunity to work on regional projects,
and sign-on bonuses. For many employers,
medium and long term incentive plans and
bonuses will also be offered in order to
remain competitive.
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