TMS releases 2010 Asia Travel/Hospitality Industry Salary Survey
TMS CEO Andrew Chan said the finding, further bolstered by a further 24 per cent of respondents advising they had received increases in excess of six per cent, was indicative of an increase in business confidence within the sector.
- (1888PressRelease) January 15, 2011 - Singapore - In what represents an encouraging sign for Asia's travel and hospitality sector, 40 per cent of respondents participating in the 2010 TMS Asia-Pacific Travel and Hospitality Industry Salary Survey indicate they received an average 1 - 5 per cent pay increase over the last 12 months.
TMS CEO Andrew Chan said the finding, further bolstered by a further 24 per cent of respondents advising they had received increases in excess of six per cent, was indicative of an increase in business confidence within the sector.
Mr Chan said the positive figure could be attributed to the effect several major events taking place within the region in 2010 had placed on the sector's employment environment - specifically the Shanghai World EXPO, the opening of Singapore's two integrated resorts - Marina Bay Sands and Sentosa Island - and Delhi's staging of the 2010 Commonwealth Games.
All of these, he said, had exacerbated what he described as a resumption of the "war for talent" prominent across the Asia-Pacific prior to the onset of the GFC.
However, he said, while the figures pointed towards an upturn in the sector's fortunes and companies appeared to be focusing more on recruitment as opposed to retrenchment, actual salary progression remained out of kilter in the upbeat environment.
"The survey found that 32 per cent of respondents had not received a pay increase of any kind while 25 per cent of respondents actually experienced pay cuts in the period," he said.
"On the surface it would seem logical that a more buoyant industry would provide greater opportunities, not only for new jobseekers but also for existing employees.
"But despite many positive signs, that is obviously not the case right across the board so it's still not quite time to break out the champagne."
Salary increases aside, Mr Chan said, the importance of career development on employee satisfaction, in recent surveys one of the most dominant factors, again remained very high.
A total of 71 per cent of all respondents stated career progression remained 'extremely 'important' or 'very important'.
This compares to 73 per cent in 2009.
Only 40% of those surveyed said they believed that their current employer offered 'excellent' or 'good' opportunities for career progression. This compared to 43 per cent in 2009.
Launched in late August, the survey this year attracted close on 800 respondents from more than 13 countries across the Asia region.
These range from company CEOs, managing directors and general managers through to middle management and front line consultants.
The bulk of respondents (47 per cent) were based in Singapore however TMS noticed a marked increase in responses from mainland China and India (eight per cent each) followed by Hong Kong (four per cent).
The largest proportion of respondents by sector derived from the hospitality industry (28 per cent) but the study includes a broad cross section of industries, including airlines/aviation, gaming/casinos, GDS/technology, MICE and events, tourism boards, retail and inbound operators.
Of the total respondents 64 per cent came from large companies (of 100 personnel or more), 57 per cent were male, and 88 per cent held permanent full-time positions.
Mr Chan said one of the key advantages the TMS model has over other employment surveys was the fact that after three years the company was in a strong position to report industry trends on a year on year basis.
"This is particularly relevant at this moment given we have experienced a regional job environment roller-coaster ride over an 18-month period," he said.
"This survey as in previous years is intended to provide an unique statistical view of the sector's labour market," Mr Chan said.
"It also offers an invaluable insight into the mindset of industry personnel."
Survey results can be viewed on the TMS website located at www.tmsap.com.
Media enquiries, contact
Mike Parker-Brown
Director of Public Relations
TMS Asia Pacific
T: + 61 2 9977 0149
M: + 421 025 469
E: mikeparkerbrown ( @ ) aapt dot net.au
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