Reward trends across the Asian renewables industry
In this podcast episode, Milan Taylor interviews Disha Kaushal about the pressing issues facing renewable energy companies in Asia. The key concerns discussed include the challenge of finding and retaining the right talent at the right price, the impact of skills overlap with other industries, and the ageing populations in key markets. The cost pressures of hiring talent from outside the organisation and the higher attrition levels in the renewable sector are also discussed.
The episode also explores reward trends, such as base pay rates, performance pay leverage, and the use of long-term incentives and retention bonuses. Overall, the episode emphasises the need for renewable companies to adapt their talent strategies and reward approaches to succeed in the evolving energy landscape.
Interesting moments:
-
Talent Challenges
One of the top concerns for renewable energy companies in Asia is the challenge of finding and retaining the right skill set at the right price point. The skills overlap with other industries and the ageing populations in certain markets exacerbate the talent attraction problem. -
Cost Pressures
Hiring talent from outside the organisation can lead to cost escalation and impact the cost structures of renewable organisations. The energy sector in Asia tends to pay at a premium of around 25%, which adds to the cost pressures for renewables players. -
Retention Issues
Renewable companies not only face challenges in attracting talent but also struggle to retain them. The attrition levels in the renewable sector tend to be higher than the industry average, which worsens the talent concerns for the industry. -
Reward Trends
Base pay rates offered by renewable sectors in certain markets lead the market average. Performance pay leverage is higher in the renewables industry compared to other sectors. Additionally, renewable energy companies in Asia are more likely to use long-term incentives, retention bonuses, skills premiums, and flexible benefit offerings.
More episodes in this series
-
Attract & retain talentJuly 03, 2024 | 18 | 18:00Milan Taylor and Kate Bravery discuss key findings from Mercer's Global Talent Trends 2024 study impacting the Energy industry. Tune in now.
-
Total rewards
How pay transparency and pay equity impact total rewards
May 06, 2024 | 17 | 19:58Listen to Mercer’s latest podcast to find our how pay transparency and pay equity strategically impact total rewards. -
Future of work
How skills ai can help you plan for a tough economic and talent climate
November 18, 2022 | Episode 10 | 21:56Find out how skills intelligence can give you an edge, especially in the tough economic times, and the tight talent market that we're all experiencing. -
Future of work
Industry outlook. How do we design the workforce of our future?
November 02, 2022 | Episode 9 | 15:30How do companies truly transform and prepare their talent, update their culture and continue to move forward? Tune in to hear what Mercer’s industry experts advise. -
Future of work
Industries in Transition. How do you solve the talent shift?
September 23, 2022 | Episode 8 | 17:19Listen to the advice of three industry leaders from Automotive & Manufacturing, Energy, and Technology, who will provide a lens on the opportunities and challenges facing their industries in 2022 and beyond. -
Future of work
Culture is integral to transformation
July 21, 2022 | Episode 7 | 13:18In this episode, Mercer’s Global Energy Industry Leader, Milan Taylor, interviews Kai Anderson, Mercer’s International workforce & Organisation Leader. They’ll be discussing the importance of culture when transforming within an organisation.
Related products for purchase
-
Job evaluation
Job Evaluation & Levelling (IPE)
Learn how to apply IPE’s precise job evaluation and levelling methodology to your organisation's job structure and put it into practice when using Mercer's TRS data. -
Talent mobility
Rotator Assignment Survey
A uniquely specialised assignment survey to keep you informed about policies, practises and trends for global businesses with rotator assignees.
Related solutions
-
Attract & retain talent
Strategic workforce planning
Mercer’s strategic workforce planning solutions provide a rational business basis to prioritise, develop and fund the people practices needed to support business… -
Talent & transformation
Organisation design
Mercer’s organisation design consulting can help you transition from a traditional multilayered organisation to a simple, agile and distributed structure. -
Employee experience design
Mercer’s employee experience design uses design-thinking principles to define and shape solutions to meet your people’s needs more effectively and to bring out the…
Related insights
-
Future of work
The future of healthcare with agentic AI
Explore how AI is transforming healthcare delivery and workforce management, helping providers do more with less and ensuring sustainable, efficient care. -
Future of work
Transforming the healthcare workforce with AI
Discover how AI is transforming healthcare workforce management, addressing shortages, ageing populations, and rising costs with innovative solutions. -
Making sense of the Corporate Sustainability Reporting Directive
Impact investing is an increasingly important part of family offices' portfolio strategies, highlighting that meaningful change can be achieved through investment…
Related events
-
Global Investment Forum Asia 2025: Singapore
Join us in Singapore 28-29 April for the latest investment themes and opportunities with asset owners, asset managers and thought leaders. -
Davos 2025: CEO strategies for transformation
Mercer’s annual event at the 2025 World Economic Forum annual meeting in Davos.