It's bonus season: How much can marketing folks make this year in your job?

Higher compensation offered elsewhere and the lack of learning and development opportunities to upskill current employees are among the top three reasons for skills shortage in Singapore, Malaysia, Hong Kong, China, and Japan. This is according to the latest 2022 Hays Asia Salary Guide which surveyed 9,598 skilled professionals in those countries.

In Singapore, employers are challenged by higher compensation offered elsewhere (53%), skills needed being too niche or hard to source in the current market (37%), and the lack of learning and development opportunities to upskill current employees (29%). Malaysian employers also face the issue of compensation (50%), followed by lack of opportunities (41%), and the skills needed being too niche (39%).

Similarly, compensation is also a challenge for employers in Hong Kong Kong (43%), followed by the lack of opportunities (36%). Unlike those in Singapore and Malaysia, however, the third reason for skills shortage in the city is attributed to the brand identity, culture or employer value proposition needing to be improved (30%).

Meanwhile, employers in China also face the issue of the lack of opportunities (52%), followed by compensation (38%), and the need to improve brand identity (26%). Separately, Hays also found that 87% of skilled professionals in China prefer to work for Western MNCs and SMEs.

With compensation being the main concern for most employees in the region, here is a look at what individuals in the marketing, digital, and tech sectors should be earning this year. The salary ranges are represented in local currencies in '000 excluding Japan which is stated in millions. All salaries are representative of the total package value, according to Hays. 

When it comes to the level of confidence in finding the skilled talent they need, employers in Hong Kong (67%) are confident/very confident. Those in China (66%) also had similar confidence levels followed by Malaysia (62%) and Singapore (57%). 

While hard skills are important to keep up with the changing times, employees are doubling down on soft skills to improve their job prospects. This sentiment holds true for most employees in China (65%), Malaysia (55%), Singapore (50%), and Hong Kong (46%).

Top three soft skills employers are looking for in permanent employees:

1. Singapore: Problem-solving (19%), communication skills (18%), and teamwork (17%)
2. Malaysia: Communication skills (21%), problem-solving (19%), and teamwork (16%)
3. Hong Kong: Communication skills (22%), problem-solving (22%), and teamwork (17%)
4. China: Problem-solving (25%), communication skills (21%), and teamwork (15%)

Top three hard skills employers are looking for in permanent employees:

1. Singapore: Analytical skills (23%), technical skills (22%), and presentation skills (11%)
2. Malaysia: Technical skills (22%), analytical skills (22%), and management skills (11%)
3. Hong Kong: Analytical skills (20%), technical skills (20%), and presentation skills (12%)
4. China: Analytical skills (22%), technical skills (21%), and project skills (16%)

To ensure continued competitiveness, employers are advised to increase their investment in the skills development of their employees through the implementation of a structured upskilling or reskilling programme. According to Hays, such programmes could include investing in additional education, formal mentorship structures, and creating dedicated career pathways for growth.

This internal staff development will not only complement recruiting strategies to overcome skills shortages but also be a successful employee and retention and attraction tool, given that skills development is currently a top priority for people.

Meanwhile, employees should tailor skills development to what their organisation needs. According to Hays' data, most skilled professionals understand the need to upskill to remain competitive and are taking the initiative to develop their skills. That said, employees should try to tailor the skills they choose to work on to what employers need.

Aside from technical skills required by the role, employers are increasingly valuing soft skills and digital skills. Competence in these areas typically indicate a high level of adaptability and flexibility which is critical in today’s business landscape. 

Photo courtesy: 123RF

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