Out now, the 2012 Hays Salary Guide reveals salary and recruiting trends for 1,000 roles across Hong Kong, China, Singapore and Japan.
It found that 60 per cent of employers in Hong Kong intend to increase salaries between three and six per cent when they next review. A further 24 per cent will increase above six per cent. But 10 per cent of employers intend to increase salaries less than three per cent and six per cent intend to offer no increases when they next review.
“Asia remains a bright spot in the global economy but that doesn’t mean salary increases will be automatic,” said Marc Burrage, Regional Director of Hays in Hong Kong. “You still need to research and prepare to ensure you gain the maximum increase of the available salary pool this year.”
According to Hays, there are several steps you can take to prepare for your next salary review meeting.
- Prepare a list of your recent achievements that exceed your objectives; you may need to look back at your original job description. Also list any changed or rising work volumes or duties you’re now undertaking and consider projects you’ve been involved in.
- Then list the resulting benefit to the company of your results. The aim here is to provide strong evidence to support the value you provide, so focus on outcomes.
- Then research the salary you feel your performance and results are worth by reviewing a recent Salary Guide. This enables you to back up your request with evidence and demonstrate that the salary you are asking for is in line with current market rates.
- Ask your manager for a meeting to review your salary. When it comes time for this meeting, keep it professional. Stay calm and focused. Do not become emotional and do not talk of how much money you need, such as rising bills or mortgage repayments. Keep your review purely professional.
- Have a fall-back position. If your employer cannot afford to increase your salary, can you agree a date for another pay review in three or six months? What about additional benefits?
Marc stresses: “Above all, use your accomplishments and the value you add to the organisation as the basis of your negotiation. In this way, you’ll clearly demonstrate your worth and will be in a stronger position to secure the maximum of the available salary pool this year.”
Access the 2012 Hays Salary Guide at www.hays.com.hk/salary, by contacting your local Hays office or by downloading The Hays Salary Guide 2012 iPhone app from iTunes.
Hays, the world’s leading recruiting experts in qualified, professional and skilled people.
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For further information please contact Paula Tychsen, Marketing Executive – PR & Communications of Hays, on +612 8226 9739 or firstname.lastname@example.org