Good news is on the horizon for those working in the IT department, as they can look forward to generous salary increase next year. The latest independent research commissioned by specialised recruiter Robert Half identified that Hong Kong IT workers can expect well above industry average salary growth in 2018.
Managing Director of Robert Half Hong Kong, Adam Johnston said that seeing how more companies in the country are increasingly adopt IT-focused agendas to push and expand their businesses into the future, it has increased the demands for highly skilled IT professionals to carry out innovative projects and new technologies. Given that there is severe shortage of skilled IT staff, this supply-demand imbalance has impacted on upward salaries for IT professionals to above national wage growth.
According to the research press release, an overwhelming 100 percent of Hong Kong CIOs/CTOs plan to give pay raises to an average of 20 percent of their technology staff in the next 12 months. The average salary increase is expected to be 7.9 percent, almost two-times higher than the Hong Kong year-on-year average wage increase of 3.8 percent across all industries.
Mr Johnston added that salary often acts as a primary motivator for working professionals, and the city’s IT workers are aware of their market value in today’s talent crunch. Therefore, unless employers are willing to offer their IT staff with an attractive salary and benefit package, they are at the risk of seeing their top performing employees leave the organisation.
“To retain top talent, it’s important for employers to not only offer a competitive remuneration package, but to also diversify their incentives. Additional perks, such as flexible work hours, additional leave and training opportunities are highly attractive to IT workers who are looking for more work-life balance and professional development,” he said.