Hiring, Compensation & Benefits Survey Report 2024
Hiring, Compensation & Benefits Report 2024
With economic uncertainties across the globe, employers in Hong Kong remain cautious in recruiting new talent in 2024. They have focused on retaining talent instead. This year, 11% more employers have improved the compensation and benefits of their workforce. As always, the JobsDB Hong Kong C&B Report has the definitive guide to show you the way:
Hiring plans and market expectations in 2024
Salaries and predicted adjustments
Structure of bonus and other benefits
This year, we’ve provided additional insights on job market trends on:
This year’s issue is packed with tips and solutions to help you navigate these changes, download a FREE copy now.
5 KEY TRENDS
Every HR must know in 2024
1. Hiring plans and market expectations
The surveyed employers remains reserved about the employment market in 2024 with 42% of them perceiving the employment market in Q1 2024 remaining the same as 2023.
Hiring plans show that a majority of employers (57%) are more inclined to maintain the current headcount, while 30% of employers plan to increase headcount, recording a rise of 4% compared to last year.
2. Payscale adjustment forecast
Overall salary adjustment prediction in 2024 is +2.2% (+0.6% vs 2023).
3. Bonus
62% of the surveyed employers provided performance bonuses in the past 12 months, and frontline staff reflects the highest increment in the prediction of bonuses in 2024 compared to this year.
4. Recruitment difficulty and talent retention
69% of the surveyed companies express recruitment difficulty as compared to five years ago. More companies (+11%) are using improved benefits to retain talents apart from pay rais compared to previous year.
5. Other latest trends in Hong Kong’s job market
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Disclaimer
The information provided in this report is for reference only. Whilst JobsDB endeavours to ensure the accuracy of the information in this report, no express or implied warranty is given by JobsDB as to the accuracy of the information. JobsDB shall not be liable for any damages (including, without limitation, damages for loss of business or loss of profits) arising in contract, tort or otherwise from the use of or inability to use this report, or any material contained in it, or from any action or decision taken as a result of using this report or any such material.
See also
If you would like to download the reports of previous years, please contact [email protected]