Japan may be losing in the global race for talent as salaries continue to lag behind in Asia

By on February 8, 2017

According to the 2017 Hays Asia Salary Guide released by Global specialist recruiting group Hays ,  salary increases in Japan continue to lag behind in Asia.

Continuing on from last year’s trend, it also reveals that for roles demanding experience and skills, salary ranges are much higher in China, Hong Kong and Singapore.

The Guide highlights salary and recruiting trends drawn from more than 3,000 employers across Japan, China, Hong Kong, Malaysia and Singapore representing six million employees as well as the salary ranges from more than 1,200 roles.

Salaries for R&D

 

Unit: 1 million yen, compared by maximum salary; based on currency rates as of Jan 18, 2017 1 CNY = 16.9, 1 HKD =15.09, 1 MYR = 26.15, 1 SPD = 81.27; salaries do not include bonuses for R&D Director (Life Sciences). Other roles are representative of the total package value.

 

Salaries for Management roles

Unit: 1 million yen, compared by maximum salary; based on currency rates as of Jan 18, 2017 1 CNY = 16.9, 1 HKD =15.09, 1 MYR = 26.15, 1 SPD = 81.27; salaries do not include bonuses for CFO; other roles are representative of the total package value

The Guide highlights salary and recruiting trends drawn from more than 3,000 employers across Japan, China, Hong Kong, Malaysia and Singapore representing six million employees as well as the salary ranges from more than 1,200 roles.

“We found in our survey that in Japan, top reasons for candidates to move to a new employer is to seek new challenges (50%), closely followed by salary (49%),” says Marc Burrage, Managing Director of Hays in Japan. “Money as a key motivator is a significant increase, up 12% from last year, when only 37% said salary was the reason for looking for a new job.

“We also learned that over half of the employees surveyed are not satisfied with their current compensation package. “

“In the 4th Industrial Revolution, Japan will lose in the global race for talent if employers continue to depend on the government for further action. As in any race, speed is the key and businesses should now take the lead on key initiatives such as equal pay for equal work and quickly align salaries with the global standard to maintain competitiveness.

You can get your copy of the of the 2017 Hays Asia Salary Guide by visiting www.hays.co.jp.

 

About Hays

Hays is the only foreign recruitment company in Japan that recruits qualified, professional and skilled people worldwide with expertise in the sectors they cover. Hays Japan’s thirteen specialisms span Accountancy & Finance, Banking, Finance Technology, Human Resources, Information Technology, Insurance, Legal, Life Sciences, Office Professionals, Property, Sales & Marketing, Supply Chain and Manufacturing & Operations. Hays operates four local offices, serving the Kanto region from 2 offices in Tokyo, Yokohama, and West Japan from central Osaka.

 

 

 

 

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