Salary & EmploymEnt ForEcaSt HonG KonG 2014...93 SalES Salary & EmploymEnt ForEcaSt 2014 Sales...

Sales

Salary & EmploymEnt ForEcaSt HonG KonG 2014

SalES

92

Salary & EmploymEnt ForEcaSt 2014SalES

Sales

Strength of current hiring activity compared to the last 12 months

Stronger (21%)

Slightly stronger (18%)

Steady (32%)

Slightly weaker (18%)

Weaker (11%)

Expectation of a professional skills shortage in the next 12 months

50%

32%

18%

?

RecRuitment Activity

marKEt analySiS

Note: All infographics in this report are based on the views of survey participants. The accompanying market commentary is based on the experience and observations of the Michael Page team.

market observations:

The demand for sales professionals in Hong Kong is currently steady. Many companies are actively hiring. Not only are they focusing on recruiting for replacement roles, they are also seeking new employees to expand products and cover new geographic markets.

The requirement for sales professionals is expected to strengthen over the next 12 months. The highest demand is expected from the manufacturing, food and beverage as well as professional services sectors, due to a shortage of talent in these areas and increased competition in the marketplace. Roles such as Sales Director, Business Development Manager/Director and Account Manager/Director are anticipated to be in highest demand, as companies seek such sales talent to further grow the business and gain higher levels of market penetration.

There is an increased demand in sales professionals with software, digital or software as a service (SaaS) experience due to the transformation from traditional to online channels across most industries.

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With a relatively optimistic employment outlook in the Asia Pacific region, many sales positions in Hong Kong have regional coverage for Greater China, South East Asia or the entire Asia Pacific region.

With China’s continued robust growth, many employers have a strong preference for candidates with work experience in China, along with fluency in Mandarin.

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93


Sales

Skills shortage placing upwards pressure on salaries

Yes, it will cause salaries to rise above the inflation rate (71%)

Yes, salaries will increase but only at the rate of inflation (14%)

No, the skills shortage will not impact salary levels (15%)

Impact of skills shortage on business in Hong Kong over the next 12 months

Need to develop more

targeted attraction strategies

57%

It will be difficult to maintain

headcount

22%

Source talent from overseas

21%

RecRuitment Activity

Note: All infographics in this report are based on the views of survey participants. The accompanying market commentary is based on the experience and observations of the Michael Page team.

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Sales

Salary increases over the next 12 months

SAlARy And RemuneRAtion

All my employees will receive the same percentage increase

6%

All my employees will receive an increase, but it will vary according to performance

Only my best-performing employees will receive an increase

21%

No one in my team will receive an increase

12%

61%

Average percentage salary increases over the next 12 months

1% - 5%

6% - 10%

54%

25%

11% - 15%

16% - 20%

14%

4%

21% - 30% 3%

Combination of factors likely to impact salary levels in the next 12 months*

Global economic conditions

Domestic economic conditions

Don't expect any factors to particularly impact salaries

Other (business and employee performance, etc)

54%Competition with other companies

54%

46%

7%

7%

* More than one option could be selected.

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For sales professionals in Hong Kong, the average percentage salary increase anticipated over the next 12 months will be between 1% and 5%.

Higher than average salary increases are likely to be reserved for Sales Directors who overachieve on their targets.

Shares and stock options has been a well adopted strategy for start-ups to attract experienced and driven sales candidates.

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Sales

Basis for bonuses over the next 12 months

SAlARy And RemuneRAtion

Individual performance

Company performance

26%

Combination of all52%

Team performance

11%

11%

Average percentage bonus of gross salary

1% - 5%

6% - 10%

5%

36%

11% - 15%

16% - 20%

21%

11%

21% - 30% 11%

31% - 40% 11%

0 20 40 60 80 100

Above 40% 5%

Flexible salary packaging or fringe benefits offered to employees

74%

26%

Companies providing bonus as part of the remuneration package

91%

9%

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Sales

Most popular tools for attraction and retention

AttRAction And Retention

Global career opportunities

Recognition and rewards

Strong company culture

Work-life balance initiatives

Structured career progression

31%

19%

19%

19%

6%

Training and mentoring partnerships

6%

Most popular options offered to support employees’ work-life balance*

Flexible working arrangements

Team building / offsite activities

Other

Increased maternity / paternity leave

Sabbatical leave

61%

43%

21%

18%

11%

11%

Alternative leave options (e.g. volunteering)

Employer expectations for staff turnover in the next 12 months

59%

21%

20%

?

Key reasons employees are likely to leave

Broaden experience / opportunity

to learn

Improve salary

Gain more seniority

Overseas opportunities

50%

6% 6%

38%

$



While a competitive salary, on-target earning potential or retention bonus remains the top motivators for sales professionals in Hong Kong, some candidates prefer to receive a mix of financial and non-financial rewards from their employer.

Popular non-financial incentives include flexible hours, higher medical premiums, increased annual leave and minimum travelling with standard work hours.

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Sales

Average weekly working hours

Less than 37.5 hours 41-45 hours37.5-40 hours 46-50 hours

10% 10% 55% 25%

Combination of benefits offered to employees*

Mobile phone

Bonus

Car parking

Transport allowance

Company car

Personal loan

Other (education, etc)

86%

Medical and dental benefits89%

79%

36%

14%

11%

4%

4%

5%

WoRking houRS


AttRAction And Retention

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Sales

Salary taBlES

conSumeR pRoductS & FmcgRole Years of experience Salary HK$’000

Sales

Business Manager 7–10 700–900

General Sales Manager 7–10 700–900

Sales Director 10+ 1,000–1,500+

General Manager 12+ 1,000–1,500+

FinAnciAl SeRviceSRole Years of experience Salary HK$’000

Product Development

Product Development Manager 3–6 500–700

Product Development Director 10+ 1,200+

Sales

Corporate Sales Manager 5–8 480–900

Please note:

1. Salaries indicated are based on an annual basic salary (12 month), excluding bonus / incentive schemes.

2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information.

it & telecommunicAtionSRole Years of experience Salary HK$’000

Sales & Account Management

Channel Account Manager / Account Manager 3–5 400-600

Sales Manager / Global Account Director 6–12 600-800

Division Manager / Sales and Marketing Manager / General Sales Manager

8–11 600-800

Vice President, Sales and Marketing / Sales and Marketing Director / Marketing Director

10+ 1,200+

Sales Director / Business Development Director 12+ 1,200-1,500+

Managing Director / General Manager 12+ 1,500+

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Sales

mAnuFActuRing / induStRiAlRole Years of experience Salary HK$’000

Sales

Sales Engineer / Senior Sales Engineer 3–5 250-450

Sales Manager / Business Development Manager 6–8 400-600

General Manager / Director 12+ 800-1,200+

mediA / enteRtAinmentRole Years of experience Salary HK$’000

Sales & Business Development

Assistant Sales Manager 2–4 300–600

Sales / Business Development Manager 4–6 450–800

Advertising / Media Sales Manager 4–8 800–1,000

Sales / Business Development Director 8+ 800–1,200+

Advertising / Media Sales Director 8–12 800–1,200+

General Manager 10+ 1,200–1,800+

Please note:

1. Salaries indicated are based on an annual basic salary (12 month), excluding bonus / incentive schemes.

2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information.

pRoFeSSionAl SeRviceSRole Years of experience Salary HK$’000

Business Development & Research

Business Development Executive 3–5 300–500

Research Manager 6–8 500–850

Business Development Manager 6–8 800–1,200+

Business Development Director 10+ 1,200–1,500+

contact uS

www.michaelpage.com.hk

Hong Kong - Pacific PlaceSuite 611, One Pacific Place, 88 Queensway, hong kong Tel +852 3602 2400 Fax +852 3602 2401 [email protected]

Hong Kong - Admiralty Centre1611, Admiralty Centre Tower 1, 18 harcourt Road, Admiralty, Hong Kong Tel +852 3602 2400 Fax +852 3602 2401 [email protected]

KowloonRoom 1011-13, Tower 1, Grand Century Place, 193 Prince Edward Road West, Mongkok, Kowloon Tel +852 3602 2450 Fax +852 3602 2451 [email protected]

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