According to PR Newswire, Aon Hewitt (Aon Hewitt) released the results of a 2017 survey of China's human capital. The average salary of Chinese companies rose 6.5 per cent in 2017, the smallest increase since 2010, and is expected to grow by 6.6 per cent next year.
This survey covers more than 3,000 enterprises in Beijing, Shanghai, Guangzhou, Shenzhen and major second-and third-tier cities, involving more than 10 key industries, such as high-tech, Internet, real estate, finance, health care, automotive, machinery and equipment and industrial manufacturing, consumer goods, retail, chemical, logistics, engineering, hotels and so on.
This year, the national average salary rose 6.5% (excluding promotion), the lowest since 2010. The national average salary increase is expected to be 6.6% in 2018 (excluding promotion). The Internet industry, the bellwether of wage increases, has seen a 9% increase this year, down 1.3 percentage points from 10.3% in the same period last year. Salaries in the high-tech industry rose 7.4 per cent this year, down 0.5 percentage points from 7.9 per cent in the same period last year. Salary increases in medical devices, foreign-funded pharmaceuticals, retail, consumer goods, logistics, engineering and other industries have decreased to varying degrees.
Zhang Zhuolei, chief operating officer of Aon Hanwei China, said: "in recent years, the labor cost of enterprises is getting higher and higher, which brings greater pressure on the sustained and rapid growth of compensation. In recent years, the salary growth has been declining or flat year by year. Enterprises pay more attention to how to differentiate pay in a targeted way, so as to improve corporate performance. According to a survey of Aon's best employers in China in 2017, the best employers pay 44% more for high-performance employees than the average employee.
Overall mobility slows down and passive turnover rate rises
This year, the national average employee turnover rate is 19.7%, down 1.1 percentage points from last year (20.8%), of which the active turnover rate is 14.4% and the passive turnover rate is 5.3%. The passive turnover rate has increased in many industries. For example, compared with the same period last year, the active turnover rate of the engineering industry increased by 2.1 percentage points, while the passive turnover rate increased by 4.7 percentage points; the active turnover rate of the foreign pharmaceutical industry remained almost unchanged, while the passive turnover rate increased by 1.9 percentage points; the logistics industry's active turnover rate decreased by 4.6 percentage points, while the passive turnover rate increased by 1.1 percentage points.
Zhang Zhuolei explained, "in the face of downward economic pressure, accelerated technological subversion, and changes in the regulatory environment, many enterprises have responded actively and actively carried out business transformation. The increase in organizational restructuring, business divestiture, and mergers and acquisitions has led to an increase in the passive turnover rate. In addition, some enterprises have begun to improve the active elimination mechanism, which has also led to an increase in the passive turnover rate. "