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Aon Hewitt, the global talent, retirement and health solutions business of Aon plc (NYSE: AON), releases the Human Capital Intelligence (HCI) study, including the all-industry rewards survey. This year, the annual salary increase rate for employees in China averages 6.7%. The average turnover rate is 20.8%, with voluntary turnover rate at 14.9% and involuntary turnover rate at 5.9%. The HCI study covers over 3000 enterprises in first-tier cities such as Beijing, Shanghai, Guangzhou, Shenzhen and major second-tier and third-tier cities, spanning across a number of industries including hi-tech, Internet, real estate, finance, healthcare, auto, machinery and industrial manufacturing, consumer goods, retail, chemical, logistics, engineering and hotel.
Salary increase rate decreases to 6.7% (excluding promotion) this year, equal to Chinas GDP growth rate posted by the National Statics Bureau. Salary is expected to grow at 6.9% (excluding promotion) in 2017. However, this year, salary increases of different industries vary. The Internet industry tops the chart (10.3%), followed by real estate (8.0%), hi-tech (7.9%), and medical device (7.6%). Salary increases in pharmaceutical Foreign Invested Enterprises?FIE?(7.0%) and retail (6.8%) are above the national average. Salary increases in engineering (5.3%) and hotel (4.5%) remain low. This year, the employee turnover rate in China remains high at 20.8%. Ms. Zhang Zhuolei, head of Rewards and Performance Consulting in Eastern China, Aon...