LINKS INTERNATIONAL Releases 2022 Asia Pacific Salary Guide

HONG KONG,March 10,2022 -- Award-winning recruitment and HR outsourcing firm Links International has released its 2022 Asia Pacific Salary Guide.

Links' 2022 Asia Pacific Salary Guide explores how work trends are changing in Asia as the region enters the "hybrid" era of work. Gain a better understanding of the performance of the job market,projected salary increments,and hottest job roles.

Top key 5 findings from the 2022 Asia Pacific Salary Guide include:

1. Strong Projected Corporate Salary Increments in 2022 for HK,Singapore & Mainland China

The strong economic recovery throughout the APAC region has meant salary increments and bonuses are projected to recover in all functions. In most functions,projected salary increments are expected to range from 3-8% if employees stay at their current jobs. For talent changing jobs,salary increments are predicted to be from 10-35%.

Salary increments in the best performing functions like IT and Life Science & Healthcare are expected to be especially high due to businesses offering higher wages to attract the best workers from the small talent pool.

Location

Projected Salary Increment

Salary Increment with Job Change

Hong Kong

3 – 8%

11 - 23%

Mainland China

4 - 6%

8 - 29 %

Singapore

3.5 - 9%

11 - 24%

*Although it looked promising at the start of the year,Hong Kong now faces challenges from a 5th wave of COVID. Businesses were initially anticipating strong growth and re-opening of borders,the development of the situation and response from companies could potentially impact salary increments in HK.

2. Winning & Losing Job Roles

The pandemic has given rise to new opportunities as businesses work towards transforming and digitalising their operations to tackle the challenges of COVID-19. Digital-related roles in all functions are in particularly high demand:

Winning Job Roles:

Finance Transformation Role

Business Strategy Manager

Cloud Architect/Specialists

Cyber Security Analyst/Consultant

Customer Lifecycle/Growth Marketing Specialists

HRIS Specialist

HR Mobility Specialist

Regulatory Affairs Specialist

Losing Job Roles:

Operations Accounting Roles

Events Marketing

Executive Assistant

3. Talent Becoming Increasingly Difficult to Retain

The pandemic has allowed workers to reassess their careers and personal priorities,leading to 41% of the global workforce considering leaving their current employer within the next year. Dubbed the "Great Resignation",employers are finding it increasingly difficult to attract and retain the best talent. To counter this phenomenon,businesses are taking different approaches to flexible work but generally agree that a "hybrid" work model is the way forward if they want to attract talent in the future.

4. Mainland Chinese Companies Dealing with "Involution"

Involution is a growing trend seen in many Mainland Chinese companies across all industries. Increasing internal competition between workers is getting fiercer as they compete for limited resources. This has led to the stagnation of companies that are suppressing the promotion of outstanding talent and limiting creativity because of internal competition. Although industries are experiencing different levels of involution,it is a common issue all companies have to address for long-term growth.

5. Singapore's Economy Roars Back as Road to Recovery on Track

Singapore's "living with COVID" approach places the city-state on track to reopen international trade and travel. High vaccination rates,government support schemes like the SGUnited Jobs and Skills Package (SGUJS) and Jobs Growth Incentive (JGI) has helped GDP rebound throughout 2021,growing as much as 15.2% in Q2 of 2021.

Links International's2022 Asia Pacific Salary Guidecan beviewedonline here.

About Links International

Links International's vision is to provide the best-Managed Payroll and HR tech experience for clients in Asia by using 100% in-country service delivery and highly integrative and user-friendly Payroll and HR tech. Voted Asia's Best HR Outsourcing Partner for 7 consecutive years and recognized as a Main Contender by Everest Group,our team of 200+ Asia HR Experts provide in-country support from 12 offices across Asia,delivering local market expert HR advice including best industry practices and practical solutions to Asia's leading businesses.

Website:www.linksinternational.com

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