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Written by: Yuan Shu
2020-11-18 14:03
Last update date: 2020-11-18 14:04
The new crown pneumonia epidemic continues and the local job market is in a downturn. The latest announcement that the unemployment rate remained at 6.4% from August to October is the highest figure in 16 years. The unemployed army is approaching 260,000. The situation makes many workers feel pessimistic about their employment prospects.
JobsDB announced today (18th) the latest "Recruitment, Salary and Benefits Survey Report". It is expected that wages will increase by 0.8% in the first quarter of next year, and 64% of companies will respond to their recruitment plans to the pre-epidemic level within next year; the survey also shows that, About 70% of employers will pay double salary and double pay at the end of the year. The average bonus is 1.4 months, which is similar to last year.
JobsDB Hong Kong Chief Executive Officer Qiu Kunshi said that companies will resume their previous recruitment levels in the second and third quarters of next year. Large companies will be relatively quicker, while small and medium-sized companies will be more cautious. At present, the salary increase for digital transformation jobs is relatively large, and wage earners do not need to pay too much. To be pessimistic, but it may take a long time to apply for a job and requires psychological preparation.
More than 60% of employers freeze their manpower in the first quarter of next year. However, it is expected that mid-year recruitment can return to the pre-epidemic level.
JobsDB commissioned an independent investigation agency in September to visit 436 entrepreneurs and business organizations in Hong Kong to discuss their recruitment, salary and benefits intentions in the first quarter of 2021 According to a survey, employers expect an average salary increase of 0.8% for employees in the coming year; 64% of employers expect the recruitment plan to return to pre-epidemic levels in 2021, and in the first quarter of 2021, 63% of employers tend to freeze Or maintain the existing manpower, 14% of employers expressed their intention to hire more full-time manpower to expand their business.
In the first quarter of 2021, 63% of companies are expected to freeze their manpower, and about 40% of companies will resume recruitment plans in the second and third quarters.
(Profile picture)
About 40% of companies resume recruitment plans in the second and third quarters
Regarding 64% of companies expecting that market conditions will return to pre-epidemic levels within 2021, employers conservatively estimate that they will recover in the second and third quarters, accounting for 19% and 20% respectively; as for companies with a larger staffing scale, it is expected The recruitment plan was resumed earlier, and 50% of them believe that it can be restored in the first half of 2021, while SMEs are relatively cautious in recruitment.
In the first quarter of 2021, 63% of companies will freeze their manpower, which is a significant increase from 35% last year. Among them, frontline and grassroots staff are most affected by 78%.
14% companies are still launching recruitment plans
However, the survey also found that there are still 14% of enterprises in the epidemic city to launch recruitment plans, 52% hire front-line and grassroots staff and 50% hire middle-level management staff, so it is expected that the frontline and grassroots staff recruitment situation will be relatively fluctuating.
The six job types with greater market demand include sales and business development (24%), accounting (18%), administration and human resources (12%), finance (12%), purchasing and comprador (12%), and retail and sales (12%).
55% of employers indicated that they would hire part-time, contract or temporary staff in the first quarter of next year to increase flexibility in work arrangements and save manpower costs.
Qiu Kunshi, CEO of JobsDB Hong Kong.
(Photo by Lu Yiming)
Qiu Kunshi, Chief Executive Officer of JobsDB Hong Kong, pointed out that wage earners need not be too pessimistic. On the one hand, the job market will start to improve in the second quarter. Job seekers must understand that "jobs must be prolonged or less time" and can continuously improve themselves in the process; In the first quarter, 14% of companies will still recruit, not without opportunities.
Salary will increase by 0.8% in the coming year
The survey shows that employers expect an overall salary adjustment of +0.8% in the coming year, which is a further reduction of nearly 2% from the +2.7% expected in the 2019 survey. The types of jobs with relatively large salary increases are expected to be data analysis (+3.8%), marketing and business Expansion (+2.4%), education (+2.1%), transportation and logistics (+2.1%), information technology (+1.5%), design (+1.4%), etc., have the highest increase in the “epidemic” city.
Salary adjustments for other types of jobs are similar to the average.
He pointed out that the larger salary increase for jobs related to digital transformation reflects that many companies have continued to increase their demand for data analysts, program developers, interface design, etc., and are closer to customers' consumption patterns through their expertise.
Affected by the epidemic, the report stated that 48% of employers indicated that they provided support for on-the-job training to their employees this year, a decrease of more than 20% from 71% last year.
Although companies will focus their resources on dealing with operational challenges brought about by the epidemic this year, he hopes that in the coming year employers can devote more resources to employee training to maintain steady corporate development.
The percentage of bonus payouts fell in the same amount as last year
As the end of the year approaches, bonuses and double pay are also issues of great concern to employees. According to the survey, more than 70% of employers (72%) indicated that bonuses and double pay are distributed in 2020, and the average bonus is 1.4 months.
Qiu Kunshi pointed out that the proportion was down 12% from last year, but the amount was similar to last year. "It can be said that most employees still have double pay."
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