KPMG’s sixth annual Hong Kong Executive Salary Outlook analyses a survey of 794 business executives in six industry sectors to take a measure of the employment market and trends in Hong Kong and the Greater Bay Area.
Hong Kong’s economy and labour market had been on the road to recovery from the second half of 2021, with business activity gradually picking up amid loosening social distancing measures. This optimism also carried over into the start of 2022 – when the survey was conducted – with executives across all sectors having strong expectations of headcount increases this year.
The findings of the survey suggest that talent retention and attraction are major concerns for employers in Hong Kong. Apart from the remuneration package, candidates also consider job satisfaction, career progression and promotion, and work flexibility and work-life balance as key factors when evaluating job opportunities. Going forward, employers must adjust their employer value proposition to secure the talent they need in this tight labour market.
Alongside a salary outlook for a number of key sectors in Hong Kong, the report also looks into the views of talents regarding their expectations of the Greater Bay Area and its job opportunities. The willingness of Hong Kong executives to relocate to the GBA has consistently increased over the years, but concerns about maintaining net income levels upon relocation remain.
Head of People Services
Partner, People Services
Director, Executive Search and Recruitment