HK Employers Endorse Biggest Pay Hike Since '98

Amid strong economic growth, the Employers' Federation of Hong Kong is recommending a pay hike of between 2.5 and 3.5 per cent next year, the highest since 1998, reports the South China Morning Post.

 

But the federation opposes across-the-board salary hikes, saying employers should reward good performers with bonuses.

 

"With economies improving almost everywhere, world GDP growth seems to be returning - albeit modestly," federation chairman John Chan Cho-chak told the Post. But Chan urges employers and workers to remain cautious as "there are still many unknowns in the US and Europe and their unemployment figures remain high."

 

Unionists, however, claim the pay-rise recommendation does not address the needs and expectations of workers.

 

 

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