The August edition of our StayConnected newsletter is out! This month, we dive deep into the Hong Kong employment market with insights from our Technology Candidate Sentiment Survey and Commercial Finance 2024 Mid-Year Salary Report. We also explore the evolving workforce landscape in our article, "Navigating the workforce revolution: From resignation to retention", highlighting the factors driving change and strategies for organizational success. Plus, we list our must-read books recommended by our ConnectedGroup team! #StayConnected #TalentAcquisition #Recruitment #HongKong #Newsletter #ConnectedGroup
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The findings of the Hong Kong Executive Salary Outlook 2024 indicate that while overall hiring intentions are softer, there is still optimism in the C-suite. Click here for more insights into this year’s talent market: 𝗘𝗻𝗴𝗹𝗶𝘀𝗵 𝗩𝗲𝗿𝘀𝗶𝗼𝗻 | https://lnkd.in/gcg-E5ph 𝗧𝗿𝗮𝗱𝗶𝘁𝗶𝗼𝗻𝗮𝗹 𝗖𝗵𝗶𝗻𝗲𝘀𝗲 𝗩𝗲𝗿𝘀𝗶𝗼𝗻 | https://lnkd.in/gtPksT5S 𝗦𝗶𝗺𝗽𝗹𝗶𝗳𝗶𝗲𝗱 𝗖𝗵𝗶𝗻𝗲𝘀𝗲 𝗩𝗲𝗿𝘀𝗶𝗼𝗻 | https://lnkd.in/gx_dcjYX #PeopleServices #HumanResources #Employment
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For top talent in the U.S. and the U.K. a company’s brand and reputation brings them on board, but ultimately, salary and satisfying work are what make them stay. Workers in China see it differently – good pay and rewarding work are what attract employees, but strong corporate governance is the key to retention. As companies around the world continue to compete for the top talent, regional and sector insights like these are indispensable to the development of successful hiring and retention strategies. Brand Finance meets this demand for data with our new Employer Brand Index, launching on 6 June 2024. To understand what workers, consider when accepting a role, the Index uses external perceptions of employer brands in 16 countries, revealing which have the best reputation as places to work. Will your company make the cut? #EmployerBrand
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Almost half of Singapore employers plan to hire in Q4 Singapore’s Net Employment Outlook (NEO) for Q4 2024 is +29%, improving 9% from Q3 2024, but weakening 7% year-over-year. At Elliott Scott HR, we've observed a subtle increase in job roles, including newly created positions. This suggests that the wave of restructuring may be subsiding, allowing companies to refocus on their HR strategies and prepare for a potentially improving economic climate. #Singapore #Employment #HR #JobOpportunities #EconomicOutlook
Almost half of Singapore employers plan to hire in Q4: ManpowerGroup poll
businesstimes.com.sg
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📢 KOS 2024 Mainland China Salary Guide is Here! 📢 We are excited to announce the release of our KOS 2024 Mainland China Salary Guide, providing invaluable insights into market trends and salary benchmarks across various industries. This comprehensive report covers key sectors including human resources, finance and accounting, legal and compliance, fintech, consumer and retail, financial services, property, digital, industrial manufacturing, renewable energy and education. 📊 Key highlights shared by our team leaders include: 👥 Human Resources: Stable or slightly rising salaries for HR executives amid a cautious recruitment landscape. Ring Huang 💼 Finance and Accounting: Increased demand for finance executives with advanced data analysis skills due to digital transformation. Ring Huang ⚖️ Legal and Compliance: Higher compensation for legal professionals skilled in compliance and international matters. Ring Huang 💻 Fintech: Slower salary growth due to increased uncertainty in the sector. Rachel Lun 🛍️ Consumer and Retail: Emphasis on skill-based and performance-driven pay structures. Calvin Lam 🏦 Financial Services: Conservative salary growth in response to sector challenges. Daphny Liang 🏢 Property: Rationalised salary increases with a focus on productivity. Cecilia Liang 📱 Digital: Steady compensation growth driven by technological advancements and market demands. Joyce Zhou 🏭 Industrial Manufacturing: Higher salary increments in private enterprises and new technology fields. Andy Zhang 🌱 Renewable Energy: Robust growth with premium pay for key roles. Andy Zhang 🎓 Education: Varied influences on compensation amid sector transformation. Andy Zhang Stay ahead of the curve with the latest salary trends and ensure your organisation remains competitive in attracting and retaining top talent. For further recruitment or job search needs, please contact us, follow us on social media platforms (LinkedIn, Facebook, Instagram, WeChat and Red Book) and visit our website. #KOS #kosinternational #Recruitment #recruiting #recruitmentagency #recruiter #headhunting #bestrecruiter #bestworkplace #bestemployer #HRTrends #Compensation #Recruitment #TalentManagement #SalaryGuide #chinajobs
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It's evident that hiring optimism within Singapore's financial sectors is on a downward trajectory, reflecting broader economic challenges. While this presents hurdles, it also underscores the importance of strategic workforce planning and talent acquisition. Amidst this, leveraging innovative solutions like remote work arrangements and prioritizing skill development can be transformative. Now more than ever, adaptability and forward-thinking strategies are essential for navigating these uncertain times and emerging stronger! #Hays #HaysRecruitment #RecruitmentInsights
Hiring outlook in S’pore weakens for third quarter in a row as sentiment dips: Survey
straitstimes.com
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Insightful article on the current hiring outlook in Singapore for the upcoming Q3 2024. According to results from the latest quarterly employment outlook survey conducted by ManpowerGroup, hiring sentiment has declined for three consecutive quarters, with finance and real estate employers turning more cautious amid subdued growth and cost challenges. #hiringtrends #ManpowerGroup #EmploymentOutlookSurvey
Hiring outlook in S’pore weakens for third quarter in a row as sentiment dips: Survey
straitstimes.com
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🌍 We just read an insightful article from CNN that sheds light on the evolving employment landscape in China, particularly for blue-collar workers. As the nation grapples with economic challenges and a transition towards a more service-oriented model, the implications for millions of workers are profound: https://lnkd.in/dW9beTiu As we witness these changes, it’s a reminder of the importance of adaptability and continuous learning in today's fast-paced job market. 💬 We'd love to hear your thoughts on how we can best support workers during such a significant economic transformation. What strategies have you seen work in similar transitions? #WorkforceDevelopment #SkillsTraining #EconomicTransition #FutureOfWork
They used to work for China’s biggest companies. Now they’re doing manual labor | CNN Business
edition.cnn.com
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Consultant - Sales, Marketing & Digital (FMCG, Beauty & Retail & Life Sciences SEA) at Cornerstone Global Partners
Happy Monday everyone! As we enter 2024, both hiring managers and candidates may seek to understand the landscape for this year to stay abreast in the market as well as make informed decisions on a career move. As such, Cornerstone Global Partners(Operates as CGP in Mainland China)have launched our 2024 salary report that covers multiple industries in major Asian countries and regions, including Chinese Mainland, Hong Kong SAR, Singapore, Malaysia, Thailand, Vietnam and Japan. This report would shed some light into the latest talent trends including organizational structure, compensation design, and popular positions, and view salary data of all functional positions. You may download a free copy via these links: ✔Asia Region: https://lnkd.in/gB2eFjmA ✔Southeast Asia Region: https://lnkd.in/gHJ4-W4g #talenttrends2024 #salaryguide2024 #jobopportunites #marketinsights
📢 𝑺𝒕𝒂𝒚 𝑼𝒑𝒅𝒂𝒕𝒆𝒅 𝒘𝒊𝒕𝒉 𝑪𝑮𝑷 𝑮𝒓𝒐𝒖𝒑'𝒔 𝑨𝒔𝒊𝒂 𝑺𝒂𝒍𝒂𝒓𝒚 𝑻𝒓𝒆𝒏𝒅𝒔 2024 𝑹𝒆𝒑𝒐𝒓𝒕! As 2024 kicks in, >75% of professionals in Asia are considering taking new jobs this year and at the same time, 85% of hiring managers are planning to grow their workforce this year - a new LinkedIn report. As the the world of opportunities is shifting around us … we as both #candidates and #hiringmanagers need to make sure we understand how the world is changing and respond. That being said, Cornerstone Global Partners(Operates as CGP in Mainland China)launches our 2024 Asia Salary Trends covering over 20 representative industries in major Asian countries and regions, including Chinese Mainland, Hong Kong SAR, Singapore, Malaysia, Thailand, Vietnam and Japan. 💡 From this report, you will have deep insight into the latest talent trends including organizational structure, compensation design, and popular positions, and view salary data of all functional positions, which would help you seize the initiative in the talent market. 🔗 Get your free copy here: 🔴 Asia Region: https://lnkd.in/gB2eFjmA 🔴 Southeast Asia Region: https://lnkd.in/gHJ4-W4g #CGPGroup #CGPSingapore #talenttrends #talenttrends2024 #employment #jobopportunities #marketinsights #salaryguide #salaryguide2024 #jobmarket #jobmarketinsights #jobmarkettrends
2024 Southeast Asia Market Insights & Salary Trends Report
cgpo2o.sg
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A major labor market problem could be solved - but employers lack of resources💸🕑🧠 Recent CV.ee labor market survey reveals that while employers invest in sustainability (ESG), they often lack the necessary resources and knowledge to make significant improvements. Previous studies have shown that 75.6% of Estonians have experienced work-related stress, with many feeling anxiety and burnout. This indicates that companies still have much work to do in ensuring employee well-being and improving the work environment. Globally, companies are increasingly recognizing the importance of environmental, social, and governance (ESG) factors. However, the survey data highlights a worrying gap between sustainable practices and the current state of the labor market. The CV.ee survey found that 90% of companies understand that sustainable practices ensure long-term success and attract top talent, but they are hindered by: ✅Lack of time resources (43.2%) ✅High additional financial costs (42.2%) ✅Limited knowledge and skills in sustainability (41.1%) Despite the urgent need to address employee stress and mental health issues, many employers struggle to improve occupational health and safety due to these resource constraints. ✊My opinion is that sustainability has become an essential competitive advantage for companies and a key factor in attracting and caring for talent. However, many companies face serious obstacles, such as a lack of resources and knowledge. Supporting the mental and physical health of employees is challenging without sufficient resources. Employers, government organizations, and experts must share the responsibility of providing the necessary resources and knowledge to help companies achieve their sustainability goals, remain competitive in the global labor market, and care for their employees. While companies are taking concrete steps to promote sustainability, significant labor market issues remain unresolved. The survey found that sustainable measures implemented by companies include: ✅Waste reduction, sorting, recycling, and reusing (81.3%) ✅Occupational health care and safety, such as sports subsidies, psychological service compensation, and work-family life balance initiatives (68.9%) ✅Allowing employees to work remotely (65.8%) ✅Flexible working hours (61.1%) The survey was conducted by Alma Career Estonia (CV.ee), a recruitment partner with extensive experience offering a wide range of services and special solutions for employers and job seekers. Get inspired👇 Ask Share Like Comment #recruitment #hr #career #management #leadership #marketing #sales
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This year’s Hong Kong Executive Salary Outlook shows that employers overwhelmingly experienced hiring challenges in 2023. To address these issues, organisations are exploring and expanding their talent sourcing channels. For more employment insights about Hong Kong (SAR) and the Greater Bay Area, check out this year’s report: 𝗘𝗻𝗴𝗹𝗶𝘀𝗵 𝗩𝗲𝗿𝘀𝗶𝗼𝗻 | https://lnkd.in/gcg-E5ph 𝗧𝗿𝗮𝗱𝗶𝘁𝗶𝗼𝗻𝗮𝗹 𝗖𝗵𝗶𝗻𝗲𝘀𝗲 𝗩𝗲𝗿𝘀𝗶𝗼𝗻 | https://lnkd.in/gtPksT5S 𝗦𝗶𝗺𝗽𝗹𝗶𝗳𝗶𝗲𝗱 𝗖𝗵𝗶𝗻𝗲𝘀𝗲 𝗩𝗲𝗿𝘀𝗶𝗼𝗻 | https://lnkd.in/gx_dcjYX #PeopleServices #HumanResources #TalentManagement
Hong Kong Executive Salary Outlook 2024
kpmg.com
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