Research from Robert Half has found 100 per cent of the surveyed CIOs in Hong Kong plan to attribute salary increases to an average of 20 per cent of their technology staff in the next 12 months. The average salary increase expected to be 7.9 per cent - which is well above the Hong Kong year-on-year average wage increase of 3.8 per cent across all industries.
As companies increasingly adopt IT-focused agendas to push their businesses into the future, the demand for highly skilled IT professionals to implement innovative projects and new technologies has increased,” said Adam Johnston, managing director of Robert Half Hong Kong. “In a market characterised by a severe shortage of skilled IT staff, this supply-demand imbalance has placed upwards pressure on salaries for IT professionals, well above the national wage growth.”
Robert Half notes that salary acts as a primary motivator for working professionals and the city’s IT workers are acutely aware of their market value – hence the risk for employers to see their top performing employees leave the organisation if they are offered a more attractive salary package elsewhere.
“To retain top talent, it’s important for employers to not only offer a competitive remuneration package, but to also diversify their incentives,” asserts Johnston. “Additional perks, such as flexible work hours, additional leave and training opportunities are highly attractive to IT workers who are looking for more work-life balance and professional development.”