More than half of Hong Kong technology professionals have experienced a salary increase in the past 12 months, but only 29% have received an increase of more than 10%, finds the inaugural 2010/2011 Robert Half Asia Pacific Technology Salary Guide. Despite this salary increase, only 5% of technology professionals indicate that they are very satisfied with their current salary and benefits package.
According to the survey, 62% of Hong Kong professionals received a bonus in 2009 in comparison to the Asia Pacific average of 48%. Although they got bonuses in 2009, a significant portion (41%) of Hong Kong technology professional still do not believe that their salary package is fair or in line with the market.
In the face of growing dissatisfaction among technology employees, Hong Kong employers are the most apprehensive of the Asia Pacific region, with 81% admitting that they are concerned about losing top performers to other job opportunities in the next year.
Despite Hong Kong technology professionals’ dissatisfaction with their current salaries, nearly one third (30%) of employees surveyed have never negotiated their salary. The survey also reveals that an astonishing 86% of Hong Kong technology employees believe that it is necessary to switch jobs in order to gain greater bargaining power in salary negotiations.
“As a result of the technology sector upturn, there is a greater demand for qualified technology professionals across the region. With 79% of Hong Kong employers planning to hire technology staff in the next six months, the market will become increasingly competitive and employers who fail to gain greater understanding of what their employees want will see their staff walking out the door,” says Andrew Morris, Managing Director of Robert Half Hong Kong.
With growing market optimism across the Asia Pacific region, the majority (80%) of Hong Kong employees are confident in their company’s growth prospect in the next year and are recognising the potential for greater career progression. In line with this growing confidence, a significant portion (71%) of Hong Kong employees are also expecting a bonus payout this year.
According to the survey, in addition to remuneration, technology professionals in Hong Kong also want their employers to provide training and development in leadership and management skills (35%), communications skills (20%), and project management skills (14%).
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