Companies respond to tourism-driven economic recovery
Most Hong Kong workers could find their pay packets a little fatter next year.
Companies responding to a pay trend survey have predicted increases averaging from 2.6 to 3 per cent as they compete for and try to retain talent in a strong retail- and tourism-led economic rebound.
In the annual survey, 74 companies in nine industries with a total of 36,314 employees were sent questionnaires between June and August. The 41 that provided the required data expected an average increase of 2.8 per cent in the year to come. The biggest rises, 3 per cent, are tipped for general staff and the smallest, 2.6 per cent, to managers and above. Eight firms, however, predicted a pay freeze for at least one staff level.
The predicted average increase was strongest in logistics and transport - 5.3 per cent - compared to an actual 1.2 per cent in the 12 months to August.
This was followed by an expected 4 per cent in retailing, up from 2.8 per cent. The smallest rise, 0.4 per cent, is tipped in construction.
On average, the planned increases are a little higher than the actual average increases of 1.5 per cent and 2.1 per cent in the 12 months to August.
