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While the average travel industry staffer now receives even more and varied benefits from their employers than ever before, less than half view their chances of career progression as good according to the inaugural TMS Asia-Pacific Asia Travel and Hospitality Industry Salary Survey released today.
TMS Managing Director – Asia, Andrew Chan said career progression had clearly emerged as one of the most dominant issues.
Mr Chan said while the number of listing career progression as being ‘important’ or ‘very important’ totaled 96 per cent, this figure contrasted starkly with the just 41 per cent figure recorded by those respondents who only saw their chances of career progression as ‘good’.
A further 16 per cent indicated they viewed their opportunity to progress as only ‘fair’.
This, Mr Chan said, again underlined the fact that in today’s industry environment, career opportunity and ongoing skill development have become equally if not more important as actual salary.
“Companies offering career development programs stand a much better chance of retaining their staff – and this is particularly the case with the Gen Y element,” he said.
“The key is to have an understanding of individuals longer term goals and, having identified those goals, ensuring they continue to work closely with their staff and help them gain the critical skills and experience they need to progress within the company.”
Conducted via an Internet survey link between April and June this year, TMS initially invited input from more than 5000 of its clients and candidates throughout the Asia region with all data collated by TMS on an internal basis.
Countries covered included Cambodia. China (including Hong Kong and Macau), India, Indonesia, Japan, Korea, Malaysia, the Middle East, the Philippines, Singapore, Thailand and Vietnam.
Responses received numbered more than 1000 with respondents ranging from senior management to front-line consultants in a wide variety of industry sectors.
“The end benefits of these surveys are manifold,” Mr Chan said.
“In the first instance the survey allows organisations to ensure they are paying market rates thereby maintaining their competitive edge.
“The survey also reviews the link between salary and non-financial benefits and the impact on job satisfaction and retention levels.
“This enables us to paint an accurate industry picture rather than relying on anecdotal evidence.”
TMS regularly conducts salary surveys in Australia and New Zealand and is planning similar exercises in each of its other key areas of operation including the Middle East and the UK.
MAIN POINTS
CASH VERSUS CAREER PROGRESSION
The TMS Asia Pacific Salary Survey showed that 87 per cent of respondents rated salary as ‘important’ (71 per cent) or ‘very important’ (16 per cent) in their decision making when accepting a new position.
Flexibility, lifestyle and accruable benefits also played a role in the job acceptance decision making.
However 96 per cent of respondents rated career progression as important (30 per cent) or very important (66 per cent).
Only 41 per cent saw their opportunity of career progression as good.
SALARIES
The salaries of those surveyed ranged from USD10,000 to a high of USD380,000 per annum with 37 per cent of all respondents receiving between a 0-2 per cent salary increase and 30 per cent receiving between a 3-5 per cent increase in the last 12 months.
Only 10 per cent of all respondents indicated they had received an increase of 10 per cent increase or more for the period
TOP EARNING ROLES
The highest base salaries continue to be earned by those in account director roles, business development, procurement and marketing.
ADDITIONAL BENEFITS
Bonuses (85 per cent), commission (25 per cent) and parking (21 per cent) scored the highest in a large list of benefits included in the survey.
A free format area enabled respondents to list several more benefits received.
These included annual wage supplements (13th month salary), performance bonuses, CPF contribution, club memberships, living allowance, sales incentives, petrol and ERP reimbursement.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
