There is a positive outlook on hiring by Chinese companies in 2017 according to a recent survey conducted by an international recruiter. The global recruitment specialist took a sample of 3400 employers in Asia in order to find out more about employment trends, salary standards and expected employment growth in popular industries.
According to its 2017 China Salary & Employment Outlook, more than half of Chinese companies are planning to boost their budget on headcount this year, and 44% of these companies are willing to increase salaries 6%-10% this year. Moreover, the rising demand for innovative technology and cyber security professionals for the Fintech sector is expected to lead to a 15% salary increment. Because of the need for help on implementation of new solutions and the development of application features, contract employees will be in demand for the Information Technology sector.
On the other hand, the salary range in manufacturing and other industrial sectors will continue to stagnate due to a continuous decline in domestic and international demand. The survey also highlights that a significant amount of local companies have evolved into multinational brands over the years and that employee retention and a strong portfolio of business leaders have become important assets across all departments, especially in finance, digital and marketing.
As strong candidates are always in demand in China’s candidate-driven market, traditional conditions such as career progression, salary increase, and learning and development opportunities are still essential in order to be able to hire suitable and motivated individuals, and to retain them over time.
Next to that, due to fierce competition in acquiring talents, companies have started to put a lot of emphasis on employer branding. According to the survey, over 65% of the companies are aware of the importance of employer branding and have been actively involved in it. Furthermore, 86% of the companies that participated in the survey find it important to deal with diversity. The top three diversity priorities are gender, minority ethnic groups and religion