Survey: Only 24% of commercial organizations plan to hire additional staff in the first quarter of next year and expect a salary increase of 2.7%

Financial news

Written by: Zhang Weilun

2019-11-28 14:50

The government ’s proposal to amend the “Fugitive Offenders Ordinance” has caused multiple consecutive months of protests and demonstrations. Hong Kong ’s economy is unavoidable. In the third quarter of this year, the economy contracted 2.9% year-on-year, and the quarterly decrease was 3.2%. The annual economic contraction is 1.3%, the first time since 2009 that the economy has contracted throughout the year. In September this year, an investigation of 356 commercial organizations found that nearly half of the interviewed organizations were more pessimistic about the employment market next year; at the same time, 35% of the interviewed organizations indicated that they intend to freeze their manpower, and the ratio will increase year-on-year. It's 11 percentage points.

JobsDB released the latest "Recruitment, Remuneration and Benefits Survey Report" and found that the average salary increase of Hong Kong wage earners next year will be 2.7%, of which the telecommunications industry will increase the most, reaching 5%, and the e-commerce and medical / pharmaceutical industries will increase by 4.8% 4.1%.

Only 9% think the first quarter of next year is better than the current job market

However, the interviewed organizations are more pessimistic about the employment market next year. It is expected that the first quarter of next year will be 47% and 10% more uncertain than the current quiet rate, and another 34% are expected to remain flat. Only 9% of the interviewed organizations The view was that the job market would be better than it is now.

As for the companies that intend to hire more people in the first quarter of the next year, 24% will decrease by 14% year-on-year. The intention is to freeze the recruitment rate of 35%, and the proportion of surveyed organizations that intend to reduce staffing will be 7%, which will increase 4% year-on-year.

The survey showed that 35% of the organizations surveyed plan to freeze their manpower next year. (Profile picture)

Nearly 70% of interviewed organizations hire additional staff for business development

For companies looking to hire more staff, the most sought-after job types include administration and human resources (29%), accounting (28%), marketing and branding (16%), corporate sales and business development (13%), Other professional services (13%), general management (12%) and information technology (12%).

Regarding the reasons for companies' intention to recruit more people, 69% are to support the company's business development, 44% are to fill vacancies of departing employees, and 39% have new jobs and new skills.

Kunqiu Qiu, Chief Executive Officer of jobsDB Hong Kong, pointed out that the current social and market environment in Hong Kong is difficult to predict, and some industries are also negatively affected. However, according to the latest job advertisements from September 1 to November 24 this year, the highest year-on-year increase The five major types of work are management trainees, data scientists, asset management practitioners, sales logistics staff, and medical service technicians.

He also pointed out that in the current uncertain market environment, job seekers may have some concerns, so employers and job seekers should provide clear information, such as corporate culture, company philosophy, and promotion opportunities, to increase job applicants ’recruitment. Business confidence.

Local and Chinese companies are more willing to hire more staff

The survey report also pointed out that about 30% of local companies, Chinese-funded enterprises and multinational companies based in Hong Kong intend to increase staffing, while only 13% of multinational companies stationed overseas intend to increase employment. The report also pointed out that multinational companies stationed overseas have adopted a more prudent attitude towards future manpower requirements, and 42% of them have not yet formulated an annual recruitment plan.

Looking forward to the second half of next year, 12% of the interviewed organizations believe that the employment market will be more active then, but 23% of the organizations holding a wait-and-see attitude.

Employers allow employees to stay at home in adverse weather conditions. (Profile picture)

24% of companies have launched home work arrangements for employees

With regard to employee benefits, the survey found that 24% of employers have implemented related measures for employees to work from home. Among related companies, 83% of the interviewed organizations allow employees to stay at home when public transport services are suspended, and 81% of the interviewed organizations will implement related measures in bad weather. Other reasons for employees to work from home include transportation difficulties due to other reasons (51%), and personal reasons (49%).

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