Ranstad research: Hong Kong employees to seek pay increases up to 10%

Employees in Hong Kong will seek pay increases of up to 10% in the year ahead as business leaders see promising local growth, according to research by Ranstad.

The Ranstad World of work report 2011/2012 is part of Ranstad’s annual Asia Pacific study that gathered the perceptions of 8,200 employees and employers.

It found 43% of employees will be seeking a salary increase of up to 5-10%, while 29% felt that a 10% rise was more appropriate, and just 19% will be seeking a 4% rise.

Two-thirds (69%) of employees said they would take a pay rise over a promotion to a more senior position if they had the choice.

Brien Keegan, Hong Kong director at Ranstad, said: “Hong Kong employers have largely been insulated from the financial woes experienced in North America or Europe and this is reflected by the positive outlook business leaders have for the next year.

“However, this optimism is tempered by challenges in connection with retaining and attracting talented professionals in an increasingly more expensive and competitive market.”

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