Hong Kong Firms Raise Salaries to Retain Talent

Optimistic about the economy, Hong Kong's businesses awarded their employees with pay rises averaging 1.7% in January, says the South China Morning Post, citing a survey by the Hong Kong Institute of Human Resource Management.

 

"In the poll of 125 companies, the institute found 30 firms, employing about 37,500 people, adjusted wages in January. The rest froze their employees' pay but there were no reductions," says the Post.

 

The Post notes that construction firms were the most generous in giving increases (up by 3.2%), followed by banking (2.9%) and manufacturing (2.5%).

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