Hong Kong raises the tide to raise the average salary increase next year 3.3%

Our correspondent Wang Dakoga at the end of the year, the Hong Kong Institute of Human Resources Management survey found that the average wage earners in the local working class received a 1.9% per cent pay increase, compared with 0.6% last year, while the vast majority of Hong Kong companies predicted that the average wage increase next year would increase to 3.3% per cent. Hong Kong's economy grew by 7.3% in the first half of the year, back to pre-crisis levels in 2008. As the economy improves, wage earners naturally expect a raise.　　Ye Weixuang, chairman of the Hong Kong Talent Management Association, said that many of the top ten local infrastructure projects had already started or would start, and many new developments were completed, so the demand for building management and construction personnel had increased and their salaries had risen considerably. An online survey of a job site in Hong Kong showed that the financial services sector had the highest pay rise of 9.3%, followed by 8.3% in the medical and pharmaceutical sectors, and 7.8% per cent in industries such as accounting, auditing and human resources consultancy.　　However, the survey found that in many industries, 87% of employees in the retail industry did not receive a raise. In this connection, the Secretary for Labour and Welfare, Mr Matthew Cheung Kin-chung, said: "I have always called upon employers to share their economic achievements with their employees if they are profitable, and employees will continue to work hard to serve the company."　　As to how much the increase is, Mr Cheung said that it should be determined by the actual operation and operating environment of each business.　　In addition to the spontaneous wage increase, the Hong Kong Special Administrative Region Government announced that the first statutory minimum wage is set at a hourly rate of HK $28 and will be formally implemented on May 1 next year.　　The Hong Kong Provisional Minimum Wage Committee estimates that more than 300,000 local employees will receive a pay rise after the implementation of the minimum wage, of which more than half of them are employees in the catering, property management, security and cleansing industries, and that Hong Kong's overall remuneration package will increase by HK $3.3 billion, with most of the cost increases being concentrated in Employers in some low-wage industries in Hong Kong expect the unemployment rate to rise by about 1.2% per cent after the implementation of the minimum wage in May next year, that is, about 45,000 people may be cut. The report of the provisional Minimum Wage Committee assumes that inflation will rise by 0.4% per cent after the company has passed the cost to consumers in full.　　This means that the wage earners in Hong Kong will be greeted with a wave of fare increases and layoffs. However, some members of the Hong Kong labour sector are still disappointed that the minimum wage is set at HK $28.　　They cautioned that some enterprises have reduced their profits under the minimum wage, and that individual employers may have to reduce their expenses by "negative strokes", such as forcing "false self employment", no time for meal breaks, no dining out, no actual working hours during the handover period, and urging staff to monitor the employers closely.　　Huang, chairman of the Hong Kong Food and Beverage Association, said that after the "everyone le" in the fast-food restaurant had deducted employees ' salaries, the industry bosses would not have been able to cut their employees ' benefits, but as the minimum wage was imminent, and the cost of food continued to rise, it was estimated that restaurants would Although most employers say they will pay a raise next year, the increase may not keep up with inflation. According to the International Monetary Fund, Hong Kong's inflation forecast for next year is expected to reach 5%. YesExperts worry that although Hong Kong employees are expected to pay a modest salary increase next year, the real wage increase may be only 0.5% per cent, excluding inflation. Ye Weixuang that, given the pressure on employers to face minimum wages, inflation and rising rents in the coming year, the pay rise may be more conservative than expected. This obviously affects the enthusiasm of the staff.　　According to the survey, over the past 12 months, 48% employers have admitted that they find it difficult to recruit and retain talents. The head of an Employment Network service company in Hong Kong has suggested that employers should handle labour relations carefully, improve the treatment of outstanding staff, provide additional benefits beyond remuneration, including providing training and promotion opportunities, and fostering an employee's sense of belonging to retain talents.