With better macroeconomic outlook and improved business sentiments, companies across the Asia Pacific region expect salary budgets in 2013 to grow slightly faster than 2012, according to the latest 2012 3rd Quarter (Q3) Asia Pacific Salary Budget Planning Survey by global professional services firm Towers Watson (NYSE, NASDAQ: TW). Over 90% of the survey respondents also plan to hire new employees in the next 12 months, a strong testament to the positive hiring outlook in the region.
The survey shows that salary growth rates in the Asia Pacific region are expected to range from 2.3% to 12.0% in 2013, representing a slight increase of 0.1 to 0.5 percentage point from 2012. For all 13 markets covered in the survey, salary growth rates are expected to outpace projected inflation rates for the respective markets for 2013.