PricewaterhouseCoopers recently followed annual tradition by conducting a compensation and benefits survey across all major industries in Hong Kong. The aim of the exercise was to identify and analyse related policies and practices among organisations.
The survey covered construction, consumer products, media and entertainment, finance and banking, medical and health care, academics and professional bodies, retail and trading, transportation and logistics, government and utilities and non-government organisations.
One positive finding was that employers were prepared to give a salary raise to key performers. Employees should welcome this bit of good news, especially if they had not received salary increments or benefits over the past three years, or even had to accept a salary cut.
'We are not surprised by the finding - the United States economy is picking up and there is movement in the market,' said PricewaterhouseCoopers human resources services director Vivian Leigh.
The median salary increase for this year is projected to be 1.5 per cent for performing staff. Those working for the insurance industry would receive the highest average pay rise - 2 per cent.
'This is the salary budget employers had set aside when they responded to the survey,' Ms Leigh said.