Randstad Hong Kong’s 2023 market and salary outlook report includes key labour market trends and employer insights on salaries, bonuses, hiring outlooks and talent expectations. Download the full report for more information to guide your talent attraction and workforce planning strategy for 2023.
As the world struggles with a shortage of raw materials and rising costs, manufacturing and supply chain companies are turning to digital transformation to drive operational and cost efficiencies.
Employers are now looking for supply chain professionals equipped with the necessary technical skills who can work on transformation projects to ensure the smooth operation of processes in a digitally-enabled, fast-paced and agile supply chain environment.
manufacturing: a focus on essential services
Essential services food and beverage (F&B) manufacturing will continue to hire in 2023, particularly for high demand roles in production, quality assurance and business operations.
However, the competition for talent is intense due to the limited pool of experienced F&B manufacturers and engineers who are equipped with the relevant ISO certifications, skills and product category expertise.
merchandise: refilling empty roles lost to the pandemic
After a significant drop in demand for buyer and merchandising professionals, companies are starting to hire them back in 2022 to meet business expectations.
This has been largely stimulated by the desire of the global business to move forward after COVID regulations have been lifted.
procurement: high demand for digital-savvy and IT procurement professionals
Improvements in procurement software and digital processes have resulted in higher hiring expectations for talent, such as knowledge in operating specific software applications.
project management: expedite digital transformation for impactful results
With the ongoing digital transformation projects, many companies are hiring project managers with Six Sigma experience to lead and execute process improvement strategies for a quicker return on investment.
Talent skilled in manufacturing process enhancement, budget allocation and management, workforce planning and rescheduling as well as stock reallocation would be high in-demand in 2023.
talent benefits and salary expectations
When switching jobs, merchandise and supply chain workers would likely expect a 10% to 15% salary increase.
Given the talent shortage in the job market, procurement specialists are expecting a minimum of 15% salary increment, and those with niche skills like analytical skills and experience in high demand areas like IT will negotiate up to 25% increase in their salaries when switching employers.
With the strong salary competition in the market, some professionals have rejected attractive salaries because of strong counter offers from their current employers.
download the randstad hong kong’s 2023 market and salary outlook report
The 2023 Hong Kong’s Market Outlook and Salary Snapshot report looks at talent analysis and new salary benchmarks in the following industries:
- Banking & Financial Services
- Accounting & Finance
- HR & Business Support
- Sales & Marketing
- Life Sciences
- Property, Construction & Engineering
- Sourcing & Supply Chain
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Our specialised recruiters partner closely with employers and talent for the perfect match with our true-fit methodology - a qualitative measurement designed to evaluate a talent’s suitability across three dimensions - job fit, boss fit and company fit. Connect with our recruitment consultants for the latest market insights and your talent recruitment needs.