The 2016 Southeast Asia Salary & Employment Outlook
by Michael Page
says this predicted rise will be modest at only one to five per cent.
In other trends, the study pointed to two key predictions which Southeast Asian HR leaders will have to be aware of over the next twelve months:
- The demand for HR generalists is on the rise. Those without much experience in areas such as staff engagement and retention should upgrade their skills so they are not left behind.
- With more businesses shifting to regional hubs, there is greater need for HR managers with global experience who have knowledge of emerging markets in Southeast Asia and beyond.
As far as recruitment goes in 2016, results are varied with 49% of survey respondents saying headcounts will increase while 44% expect them to stay the same.
“The economic uncertainty in China is having a slight impact here [in Singapore] and companies are more cautious in hiring new and replacement headcounts. The year ahead might be challenging for companies,” said Jeffrey Ng, director of Michael Page
However, this is a time when employers can be more daring especially with the job uncertainty that comes with these more difficult economic times, Shai Ganu, Mercer
’s business leader for talent consulting in Asia, told HRD
“If there is a slowdown, your talent acquisition function probably has some opportunities to pick up loose talent from your competitors,” he said. “Companies should use this as an opportunity and say, ‘How can we go and grab the best people?’”
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Sixty two per cent of HR leaders in Southeast Asia expect that salaries within the sector will rise over the next 12 months.