Key Survey Findings (Source: Michael Page 2015 Japan Salary & Employment Forecast)
- 65% of surveyed employers in Japan report they are currently recruiting
- 53% of surveyed employers plan to award their employees a pay increase according to performance.
- 62% of surveyed companies expect domestic economic conditions to have an impact on salary levels in their industry over the next 12 months.
- 42% of surveyed employers do not believe the government’s target to have 30% of management positions filled by women by 2020 is possible.
29 January 2015: Japan’s employment market remained steady over 2014, with demand consistent with the levels seen in 2013, according to recent findings from the 2015 Michael Page Japan Salary and Employment Forecast report. Hiring activity has remained buoyant, despite the impact of the April consumer tax increase, with the majority of employers throughout Japan currently hiring.
Conditions for Japan’s employment market in 2015 are expected to be consistent with trends from 2014 in the absence of any economic upheaval. Demand for new staff is expected to be steady across all industries and sectors, with 65% of surveyed Japanese employers reporting they are currently recruiting. There has been particular growth in areas such as healthcare (43%), IT (48%) and marketing (43%) where employers are reporting hiring activity as stronger and slightly stronger.
“Hiring activity will be predominantly stable throughout 2015 as trends from the previous 12 months are set to continue without any major economic shock,” says Basil Le Roux, Managing Director of Michael Page Japan. “The Japanese economy is typically sheltered from global economic events, and this level of distance is reflected in the survey results, as less than half of respondents say global economic conditions would have an impact on salary levels within their industry.”
With the Abe administration attempting to lift inflation, the government is increasing pressure on employers to increase wages. As employers continue to focus on salary reviews, 53% of employers plan to award all their employees with a pay increase according to performance. While 27% say they will reward their best performing staff with increased pay, more than half of surveyed employers (62%) report that domestic economic conditions will have an impact on salary levels in their industry over the next 12 months.
Additionally, the government initiative to increase female participation in the workforce to 30% female staff in management roles by 2020 has elicited mixed reactions from surveyed employers. This will continue to be an area of focus for Japan’s employers; however 42% of surveyed employers are unsure whether the government target is achievable.
“Japan has a unique employment market, with a low unemployment rate and the general uncommon occurrence of large numbers of jobseekers at any one time,” says le Roux. “An increase in salaries as well as encouraging female participation in the workforce will continue to impact Japan’s employment market over the next 12 months.”
To view the full report, visit the Michael Page Japan News and Research Center.
For more information contact: Gabrielle Kilby-Dunn Communications and PR Coordinator PageGroup Phone: +612 8046 0822 | About Michael Page As part of PageGroup, Michael Page is a leading professional recruitment consultancy specialising in the recruitment of permanent, contract and temporary positions on behalf of the world’s top employers. The Group operates through 154 offices in 35 countries worldwide. First established in London in 1976, we’ve been bringing job seekers and employers together for more than 35 years. Our presence in the Asia Pacific region extends across China, Taiwan, Singapore, Hong Kong, Japan, India, Malaysia, Australia and New Zealand. |