2017 Michael Page Asia Regional Salary And Employment Report: Salary Increase Is Expected

As China's local businesses quickly become employers with the ability to attract and retain talented people, competition for talent in China may also intensify.

Multinational companies, which once had strong employer brand strategies, became more cautious in recruiting talent.

Business confidence in Chinese companies has also risen. Many companies plan to increase investment in China in 2017 or increase the number of employees.

Recently, Michael Gao, who interviewed nearly 1000 employers from all walks of life in mainland China, consulted their views on recruitment trends next year, and released the 2017 Michael Page Asia regional salary and employment report. The survey results showed that 48% of mainland China plans to increase employee positions in 2017, and 45% of respondents said they expect to raise their salaries by 6%-10% in the coming year.

Andy Bonto (Andy Bentote), senior managing director of China's mainland in 2017, is optimistic about the recruitment situation in mainland China.

Some adjustments have been made, but the prospects for recruitment in the mainland of China will remain optimistic in 2017.

Overall, the employment level in the mainland will remain stable next year. The Chinese job market will still be dominated by job seekers, and the top talent is very scarce. They will usually get more job opportunities.

At the same time, he also believes that the corporate culture with commonness is gradually taking shape, and more and more companies are committed to building inclusive corporate culture and listening to employees' aspirations.

Most of these measures are aimed at the millennial generation, because the millennials pay more attention to this standard, and they will be the main force of the next generation of Chinese workforce.

"In 2017, the industry that is expected to grow is the industry with global attractiveness, such as renewable energy, financial technology, social media and consumer electronics."

In mainland China, the company regards career development (77%), salary increase (62%) and learning and development opportunities (51%) as three magic weapons to attract and retain talented people.

Andy Bonto (Andy Bentote) predicts that as China's job market matures, Chinese employees will continue to pay attention.

And development, rather than focusing solely on salary.

At the end of November, PWC released the 2016 APEC CEO research China report, which shows that 59% of mainland and Hongkong respondents plan to increase investment in China in the coming year, compared with 54% last year.

Of the other APEC Business Leaders in China, 43% say they are increasing investment in China.

Zhao Baiji, chairman of PWC Greater China, believes that the long-term vision of these enterprises is that although China's economic growth has slowed down, the size and capacity of China's economy will enable business leaders to continue to invest in China and expand their businesses.

China is still a potential economic engine for APEC to create new products and establish partnership.

The German business confidence survey 2016 in Germany released recently showed that the proportion of German owned enterprises that had "improved" attitude towards China's economic prospects in the coming year increased from 23% last year to 29%.

Looking forward to the Chinese market in the next five years, the German funded enterprises surveyed generally believe that the implementation of "made in China 2025" will bring new opportunities for development.

New changes in the Chinese market require enterprises to also accelerate.

And upgrading, so as to maintain their competitiveness, and continue to grow together with the Chinese market.

"China's economy is in a critical period of economic pformation, from export oriented to domestic demand driven, and this process also brings opportunities to the banking industry."

In an interview with reporters, Machki, managing director of China's regional finance and corporate cash management department of Deutsche Bank, said: "financial institutions always serve the actual needs of economic development. Therefore, we will focus more on local trade finance and cash management business in order to adapt to the new changes in the Chinese market.

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