Insurance, accounting and finance, Hong Kong

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The pandemic and digital transformation have created new business opportunities for insurance companies. Organizations are exploring the use of new technologies to forecast customer demands and develop new products and services that can meet their needs. Even though accounting and finance professionals are able to work productively from home, this is one of the functions that will most likely be affected by the two-year pandemic heading into 2022.

Insurers are adopting digital solutions to enable remote work for their employees. Many multinational insurers have already implemented hybrid labor policies. Having good hybrid work guidelines, comprehensive wellness benefits that also extend to mental health, as well as a positive work environment are going to be critical to an employer’s ability to attract potential employees, according to ideas. by Rouella Landicho, Associate Director – Banking, Financial and Legal Services, in Randstad’s Market Outlook and Salary Report.

Assurance

In 2022, insurance job applicants can expect a 10% to 15% pay rise on their basic income when they change employers. Professionals working in the insurance industry can also expect to receive a premium of three to four months in 2022.

Accounting and finance

Companies that neglect their productivity and workforce issues in the accounting and finance function will be ill-prepared for the expected global economic growth in 2022. This is what Randstad reports on the market outlook and wages, in especially for those who do not intend to develop and strengthen their workforce.

Accountants specializing in IT auditing, financial transformation, and financial planning and analysis who change employers in 2022 may receive a salary increase ranging from 30% to 45% in 2022. Of the three specializations, professionals finance professionals with an overall mission in financial transformation are most likely to negotiate even higher compensation.

Candidates for accounting, tax and treasury will most likely receive a 5-10% salary increase when they change employers, with higher paid managerial and managerial positions.

The obvious reason for this salary increase is the persistent shortage of skilled talent in Hong Kong. There have been a growing number of accountants who have moved to other business cities like Shanghai, Beijing, London, and Singapore, further shrinking the pool of local applicants.

ALSO READ: Salary Report Market Outlook 2022 – HR & Business Support

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