Shanghai, 2 December 2016: 48% of companies in Mainland China are planning to increase headcount in 2017, according to initial findings from the Michael Page 2017 Asia Salary & Employment Outlook survey. In addition, 45% of companies surveyed also said they expect to offer a 6 to 10% salary increase to staff in the next 12 months. These statistics are drawn from the 2017 Asia Salary & Employment Outlook produced by global specialist recruiter Michael Page, who surveyed nearly 1000 employers in Mainland China across all industries on their views on employment trends in the coming year ahead. Andy Bentote, senior managing director of Greater China, Michael Page, is optimistic that hiring trends in China will remain positive in 2017 despite rebalancing of the Chinese economy. “We see steady levels of recruitment and China will remain a candidate-driven market where strong candidates are in demand and often receive multiple job offers. The general corporate culture is also taking shape, with more companies making the effort to be inclusive and taking the time to ensure that the workforce feels heard. Many of these efforts are aimed at millennials, who value such engagement and will form the majority of China’s next-generation workforce.” Other notable industries anticipated for growth in 2017 align with those that currently have global appeal: renewable energy, FinTech, social media, and consumer electronics. Competition for talent is also likely to intensify in China as domestic companies are rapidly becoming employers of choice with the ability to attract and retain strong candidates. In contrast, multi-national companies, who traditionally have stronger employer branding policies in place, have turned cautious around hiring. Companies in China ranked career progression (77%), salary increases (62%) as well as learning and development opportunities (51%) as the three most important factors in attracting and retaining Chinese talent. We foresee the continued focus amongst Chinese employees on career progression and development rather than the pure pursuit of higher salaries as China’s employment market matures. For more insights, please refer to our Michael Page 2017 Salary Employment Outlook infographic.
