Employees are feeling positive about Job Market and Job Security
Over 60% of Mid-Senior Energy & Infrastructure Professionals
are Still Confident About Their Job Security
Asia Pacific – Immediate release – LVI Associates’ new research reveals nearly 1 in 2 employees expect a stable economy amidst the current pandemic. Over 46% of mid-senior Energy & Infrastructure professionals are feeling positive or very positive about the job market, while 29% are feeling neutral. This contrasts markedly with the respondents in other industries, reflecting less negativity amongst energy and infrastructure sector professionals.
Survey during Covid-19
The work force in APAC was highly disrupted by Covid-19 post Lunar New Year celebration. LVI Associates hence conducted a Job Confidence Index survey to understand Energy & Infrastructure professionals’ views on:
Perceived job security
Current job satisfaction
Satisfaction with compensation
The survey was conducted across February and March 2020 by LVI Associates consultants through email and telephone conversations with over 470 Energy & Infrastructure professionals across Asia Pacific and Middle East. The majority of the surveyed professionals hold Mid-level to Senior, or higher, positions.
Almost half are still receiving increased compensation and bonuses
Despite the constant negative economic headlines associated with Covid-19, the survey shows that the majority are still receiving increments and bonuses. 47% of respondents still believe that they are likely or very likely to receive increasedcompensation in the next 12 months and close to half of the respondents (49%) are receiving or had received the same, or an increased bonus this year compared to last year.
“Energy & Infrastructure talent is unique in its level of specialisation and skill, resulting in a competitive talent market. They know that they are business-critical, hard-to-find, and that makes them highly prized,” says Candy Choong, Head of LVI Associates, APAC.
The Greener Future
According to our survey, only 4 in 10 respondents feel confident or very confident that the job market will improve.
“Despite the current global crisis of Covid-19, The Asia Pacific Renewable Energy market is only continuing to grow,” said Tom Marks, Team Lead of Energy Asia at LVI Associates. “We are still seeing promising news articles despite the virus. In Japan, Toyota established Toyota Green Energy with Chubu Electric for the purposes of obtaining and managing renewable energy sources in Japan in spite of the rapid development of Covid-19 in the region and Japan's announcement of a "state of emergency". In Australia, the Government has announced new funding of AUD $70 million to help the deployment of hydrogen electrolyser technology. With record levels of investment across Asia Pacific, the region is set to continue booming in the near-term and long-term future.”
Our survey also shows that if made redundant, over half (56%) of the current employees are confident in their ability to find a new role within three months.
“Whether there is Covid-19 or not, a lot of these people are genuinely hard to find in the market. Some of these skill sets will always be sought after so it doesn’t surprise me that people are confident they will find a new job. In addition to this, with the travel restrictions it is less likely that companies will be able to hire talent from abroad. Therefore, there’s more opportunity for local talent to secure these roles,” says Kayleigh Regan, Team Lead of Forensic Engineering, Construction Claims, Water & Transportation at LVI Associates.
Failure to address employee satisfaction leads to loss of valuable talent
While the market has more positivity than negativity, many respondents believe in themselves and their ability to find work. HR and Business managers should take precautionary measures as there are 44.5% are not fully satisfied with their current job. With a challenging year ahead, failure to address employee satisfaction could result in the loss of valuable talent.
“Recruiters are always in touch with these engineers. It is much easier to pull them away from their current company when they are not fully satisfied with their current job,” warns Candy Choong.
You may access to our website for full report download.
LVI Associates is the leading specialist recruitment agency for the infrastructure sector. We were founded to give candidates and clients peace of mind that the recruitment process is in expert hands. Today, we provide permanent, contract and multi-hire recruitment from our global hubs all over the world.
Infrastructure plays a critical role in creating a future that works for everyone. As a specialist recruitment agency, LVI Associates places professionals who make a profound difference in our everyday lives. Our placements ensure that the public has access to everything from clean drinking water and reliable electricity to safe housing and roads for self-driving cars.
We pride ourselves in keeping our professional network up-to-date with any changes that will shape the future of work or affect the hiring process. Visit our website to discover more invaluable insights, including exclusive research, salary guides and market trends.
Visit our website www.lviassociates.sg to discover more invaluable insights, including exclusive research, salary guides and market trends.