The 2015 Hays Asia Salary Guide released today also showed that 43% of Malaysia’s employers will raise pay in the next review by more than six per cent, even as Malaysians are bracing for a higher cost of living when the government implements the Goods and Services Tax in April.
“Our guide shows that hiring expectations remain steady across Asia, despite the talent shortage,” Christine Wright, managing director of Hays in Asia, said in a statement today.“Employers in all five of our surveyed countries are seeing a gap — some more significant than others — between the skills that they are looking for and the skills available in the local labour market,” she added.
Compared to 31% of Malaysia’s employers increasing salaries by 6% - 10% in the last review, only 8% of their counterparts in Singapore did so, while China topped the survey of five Asian countries with half of employers raising wages by 6% - 10%
Almost half, or 48%, of Malaysia’s employers raised pay by 3% - 6% last year, while 9% increased salaries by more than 10%, 9% gave increases of less than 3% and only 3% of employers gave no increase.
The Hays Asia Salary Guide looked at wage and recruiting trends for over 1,200 roles across Malaysia, Singapore, China, Hong Kong and Japan, and surveyed 2,361 employers, representing some 4 million employees.
In order to retain top performing employees, many businesses are also using benefits and bonuses as enticements, with 51% of employers across Asia saying they will award bonuses to over half of their best staff.
According to the study, 64% of Malaysia’s employers provide health benefits, a car or car allowance (58%), life assurance (47%), club or gym membership (23%), hardship allowance (20%), housing allowance (17%), pension (16%), tax equalisation (5%) and private expenses (2%).
The Hays report also found that Malaysia has the second-highest percentage of women in management positions at 34%, compared to 27% in Singapore, 36% in China, 31% in Hong Kong, and 19% in Japan.
/themalaymail 20-01-2015
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