2014 HR Survey Results – Hong Kong
When we launched this survey we published it as a salary survey first and foremost, however after looking at the results and seeing some of the interesting data that has come as a result, I’ve realized that this is more of an HR trend analysis than it is a salary survey. The results on pay increases and bonuses are always useful but, for me anyway, it is the trends and demographic data that I have found particularly fascinating. In each country survey we have made comparisons with the global data that we have received, which should attempt to make the data ever more relevant for global HR leaders.
The specific HR trends for Hong Kong pull up some great facts but if I have to pick a few highlights the main three would be:
1. Hong Kong had the lowest proportion of men in HR out of our six major markets. Just 28% of HR professionals in Hong Kong were male, compared to China where this number stands at 45%. There are definitely some cultural issues at play here and a lot of work still needs to be done at degree level to encourage more men into HR. It needs to be seen as a viable and successful career choice for men and until it is actively seen this way we might continue to see this trend.
2. While Singapore held the lowest tenure for staff at 4+ years (22.36%), Hong Kong wasn’t far behind at 24.17% of people being with their companies for 4+ years. Both Singapore and Hong Kong have limitations with their population sizes, which means that top talent is always in demand, however companies should start looking at how they are hiring. Too frequently we seem to see people move after just 2 years with a company with no demonstration of either promotion or success.
3. While the global HR community seem to think that they are either at or below market with their pay, Hong Kong is the worst with this thought. Just 6% of people in Hong Kong felt that they were above market, the lowest of any of our six surveys. This is a tough one to determine, since Hong Kong slipped out of the 10 most expensive cities to live in this year and with tax at just 16.5% it makes me wonder if there are other factors at play with people’ s perception on their pay.
The data provided is obviously just a sample of people that are known to us and while we might not know everyone, some of the insights are very valuable. I’ve never looked into trends like this globally before and hope this survey shows that as a business we are truly looking to add a greater value to the global HR community.
See pdf for the full survey results. If you would like to discuss any of the results in this survey please do not hesitate to contact me direct. I hope you enjoy reading.
Managing Director, Global