Increasing salary expectations put businesses under pressure

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Salary expectations are a growing source of tension between employers and employees here, according to a new series of reports released on Wednesday.

Global recruitment firm Hudson's Salary and Employment Insights 2012 report found that most employees across Singapore, Hong Kong and China are looking for ways to boost their salaries - with nearly seven out of 10 employees considering finding a new job this year. Eight out of 10 employees also felt they deserved a pay raise this year.

Conversely, two-thirds of employers said they were worried about losing their high-performing workers, and more than 80 per cent of hiring managers said that the salary expectations of their preferred candidate exceeded their budget. Half the hiring managers surveyed said they would increase their budget to secure the best candidate, while the other half said they would settle for the second-best.

Recruiters' intentions, however, are positive - 42 per cent of employers plan to increase permanent staff levels this year, and employment levels remain high.