HK companies expect a 1.7% salary hike in 2022: survey

Employees with digital transformation-related jobs are most likely to benefit.

Companies in Hong Kong are anticipating a 1.7% salary hike in 2022, JobsDB’s latest “Hiring, Compensation and Benefits” survey showed. 

The expected increase is 0.9% higher compared to predictions in 2021 of 0.8%.

Employees that will likely benefit from the increase are those working in information technology (3.7%), banking (3.5%), transportation and logistics (2.5%), analytics (2.5%), hospitality or tourism (2.4%), and corporate sales and business development (2.4%).

Corporate sales and business development roles will also be the second most in-demand jobs in the first quarter of 2021, according to the study, just behind admin and HR (24%).

Meanwhile, roles in media or advertising (0.3%), beauty care or health (0.5%), and design (1%), are expected to have among the lowest salary increments.

Companies said providing an attractive salary and compensation (41%) is their main way to attract suitable talents into the company.

Bill Lee, managing director of JobsDB Hong Kong, said the salary adjustments, particularly to digital transformation-related job functions, show that “corporations are more focused on digital transformation.”

The growing demand for these roles, and other new roles, have likewise pushed companies to increase their full-time headcount, Lee said.

Based on the survey, 32% of companies are mulling to increase full-time headcount as they expect to rebound to the pre-pandemic levels of 2019 (38%) by next year.

Companies cited reasons such as business expansion (70%), growth of new roles (38%), and replacement of resigned staff (37%) as reasons for increasing their headcount.