90% of Hong Kong employers plan to increase pay in 2012, but still struggle to retain talent

(Hong Kong) ORC International’s latest HR Reflections survey has revealed that HR professionals in the Hong Kong region are significantly more positive than in other global regions. There are however, issues on retention given the more fluid market.

Pay and bonuses stand out as areas where the region far exceeds the global norms. In Hong Kong 90% compared to 55% globally are considering pay rises at or above the levels of previous years. And, 41% compared to a global 26% award bonuses to all employees regardless of individual performance or grade.

Other key findings of the survey are:

- 74% of Hong Kong employers compared to a global 55% said that their organisation's performance was better than it was 12 months ago
- 41% of Hong Kong Employers thought the recession had ended and the economic outlook is brighter. The global norm was 12%
- 78% compared to a global 60% said that their organisation's main focus for the next 12 months was growth above stability

While the buzz coming out of this region does stand out as exceptionally positive, feelings around staff turnover and retention are clearly less positive. 44% compared to a global 23% think that their ability to retain talent is worse than it was 12 months ago. Furthermore, 30% compared to a global 12% think that turnover is higher than in previous years and are concerned that they aren’t retaining staff.

Rory MacNeill, Global Managing Director of ORC International’s Employee Research division comments: “There are a number of cultural differences between Hong Kong and the other global regions. Pay and bonuses are often seen as an expectation, so these results are not hugely surprising. However, the indication that things are getting worse is a concern for the regions employers. The overall sentiment coming out of this region is very positive compared to global norms. As this is the first time Hong Kong has been included in the HR Reflections survey, it will be interesting to monitor the development of this pay vs. retention trend moving into 2012.”

About HR Reflections

HR Reflections was conducted in July 2011. The survey was sent out to HR professionals, internal communications consultants and employee engagement specialists in the USA, Canada, UK, Ireland, Australia, Singapore and Hong Kong. The purpose of the survey was to understand their views on a range of organisational and HR issues, the current economic climate and their predictions in the next 12 months. 1,148 responses were received from a variety of different industries and sectors

About ORC International

ORC International is a leading global research firm with offices across the US, Europe and Asia Pacific. The company offers a platform of integrated intelligence that combines forward-thinking methodologies, cutting-edge technology, skilled researchers and in-depth industry experience to provide clients with valuable insight to help solve their most pressing business challenges. Specifically, the company has more than 25 years of employee research experience and manages some of the largest employee-related research/surveys worldwide. To learn more about ORCInternational, visit www.orcinternational.co.uk