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1、R EN EWAB LE EN ER GY CO MPE N SATI O N SU R VEY R E P O RT 20241PART OF PHAIDON INTERNATIONALRenewable Energy Compensation Survey Report 2024IND U STRY INSIGH TS APACR EN EWAB LE EN ER GY CO MPE N SATI O N SU R VEY R E P O RT 20242Base Salaries-AUSBase Salary IncreasesBonus&CommissionsBenefitsAnnua

2、l&Parental LeaveFlexibilityCareer MotivationsSalary MotivationsIntroductionWhat is the appropriate amount of compensation for your employees?Or,if you are a renewable energy professional,does your pay match your peers?Compensation is a key factor in the decision-making process,both for hiring manage

3、rs who need to understand market standards to make competitive offers,and for professionals looking to benchmark their salaries when changing roles.Yet,there is a lack of information available on salary benchmarks,bonus details,the types of benefits other firms are offering,and what really matters t

4、o professionals when considering their career options.To support those working in the sector as a leading talent partner,we surveyed nearly 600 renewable energy professionals in APAC to bring you a new guide to compensation and career motivations in 2024.This report collates the survey findings,offe

5、ring valuable insights to help hiring and HR managers obtain a better understanding of market rates and find new strategies to attract and retain top talent.It is equally helpful for professionals,acting as a guide to help them determine whether their current compensation is fair.2ContentsAPAC Renew

6、able Energy Market OverviewSurvey Results3.6.33.Summary7.Energy Storage13.Offshore Wind20.Onshore Wind26.SolarBase Salaries-AUS,SGBase Salary IncreasesBonus&CommissionsBenefitsAnnual&Parental LeaveFlexibilityCareer MotivationsSalary Motivations34.About LVI Associates&Contact LVI AssociatesBase Salar

7、ies-TWBase Salary IncreasesBonus&CommissionsBenefitsAnnual&Parental LeaveFlexibilityCareer MotivationsSalary MotivationsSpotlight on TaiwanBase Salaries-AUS,SGBase Salary IncreasesBonus&CommissionsBenefitsAnnual&Parental LeaveFlexibilityCareer MotivationsSalary MotivationsSpotlight on AustraliaSpotl

8、ight on SingaporeR EN EWAB LE EN ER GY CO MPE N SATI O N SU R VEY R E P O RT 20243APAC Renewable Energy Market OverviewRenewable energy development in the Asia-Pacific continues to expand as the region races to meet its growing energy requirements,while also working towards ambitious carbon neutral

9、targets.Installed renewable energy generating capacity is growing at an average CAGR of 9%across APAC,and up to US$3.3 trillion is forecast to be invested in power generation over the next 10 years,with 49%dedicated to wind and solar and 12%for energy storage.In the next five years alone,1,840 gigaw

10、atts of extra capacity is expected to be added-more than the rest of the world combined1.Overall,renewable energy is projected to make up 30-50%of the power generation mix in most countries in the region by 20302,but there are many complex factors that need to be effectively managed to make this a r

11、eality.These vary between countries and subsectors but range from supply chain issues and lack of investment and government funding,to the profitability of projects and the need to relocate international talent with the right expertise.With nearly 85%of primary energy in APAC currently coming from f

12、ossil fuels,most of it imported3,it is vital that each and every project has the right people in place to effectively manage these risks,as well as ensure that projects are delivered on time,on budget,and to the highest standards so they can efficiently run for decades to come.As the world steadily

13、pursues its renewable energy goals and the cost of producing energy from renewable sources continues to fall,now marks a pivotal time in history for organisations and individuals working in the sector to make a long-lasting contribution to a cleaner and greener future.R EN EWAB LE EN ER GY CO MPE N

14、SATI O N SU R VEY R E P O RT 20244As APACs shift towards renewable energy advances,energy storage has come increasingly into the forefront,with the market expected to grow at an impressive CAGR of over 20%between 2024 and 20294.Globally,the energy storage market almost tripled in 2023,marking the bi

15、ggest year-on-year increase on record5.Mainland China is currently leading the global energy storage market,adding substantial capacity and benefiting from the lowest-ever costs for turnkey energy storage systems;The market has seen considerable advancements in battery technologies,particularly lith

16、ium iron phosphate(LFP)batteries,which are favoured for their lower costs and longer cycle life.Several other APAC countries have set ambitious goals for energy storage,with Japan,South Korea,and India all implementing new policies and targets to enhance energy storage capacity,driven by the need fo

17、r grid stability and renewable energy integration.APAC S A L A RY SU R VEY R E P O RT 20244Offshore WindAccording to the Global Wind Energy Council(GWEC),APAC is forecast to contribute nearly half of the extra 380GW offshore wind capacity being added worldwide by 20326,but spotlights supply chain bo

18、ttlenecks,slow permitting processes,and public acceptance as risks that could hamper this target across much of the region.Australia is set to be a major contributor to this growth,having some of the best wind resources in the world but only just starting to explore new projects.A number of sites ha

19、ve been proposed for offshore wind development,and the Gippsland zone is advancing rapidly.Six initial projects have already been granted preliminary consideration for feasibility licenses,marking a significant milestone in Australias offshore wind ambitions to support the country in reaching its ta

20、rget of net zero emissions by 2050.Japan is also focusing on its offshore wind potential,aiming to increase its capacity from 0.8 GW currently up to 10 GW by 2030.Energy StorageR EN EWAB LE EN ER GY CO MPE N SATI O N SU R VEY R E P O RT 20245With combined onshore wind and battery storage projects es

21、timated to already be cheaper than gas and coal projects,development is ramping up across APAC.The GWECs Global Wind Report 2024 states that 2023 saw the highest number of new onshore wind power installations in history-more than 100 GW-with Mainland China setting a record number of commissions7.As

22、a result,the territory will far exceed its wind power capacity target of 599GW by 2025.Progress is happening quickly throughout the rest of the region too.Southeast Asias largest onshore wind farm has recently broken ground and is scheduled to come online in 2025,as has the Nimaida Wind Project in J

23、apans Fukui City,which is set to become the largest onshore wind asset in the Prefecture.Vietnam has also emerged as a key market for onshore wind energy in APAC,with several projects reaching financial closure and commencing construction.APAC S A L A RY SU R VEY R E P O RT 20245SolarOnshore WindAcc

24、ording to the International Energy Agency,solar power already accounts for three-quarters of renewable energy capacity worldwide,and an additional 500GW of capacity is expected to be built in 20248.Utility PV solar emerged in 2023 as the cheapest renewable power source across most of APAC,with the c

25、ost of new-build solar projects projected to drop another 20%by 20309.But these numerous new projects require lots of space,so countries are getting creative,with panels on rooftops,residential buildings,and carport canopies all becoming more popular.Floating solar farms of various sizes have also b

26、een successful across the region,notably in Mainland China and Japan.Meanwhile in Australia,plans are progressing for Sun Cable,which if completed will be the worlds largest solar energy park and battery storage facility,and the worlds first intercontinental power grid.Its AAPowerLink project recent

27、ly obtained its principal environmental approval to connect Australias Northern Territory with Singapore via 4,300km of subsea cable,delivering up to 15%of Singapores electricity needs.R EN EWAB LE EN ER GY CO MPE N SATI O N SU R VEY R E P O RT 20246Survey ResultsAPAC S A L A RY SU R VEY R E P O RT

28、20246Base SalariesBase Salary IncreasesBonus&CommissionsBenefitsAnnual&Parental LeaveFlexibilityCareer MotivationsSalary MotivationsR EN EWAB LE EN ER GY CO MPE N SATI O N SU R VEY R E P O RT 20247Energy StorageR EN EWAB LE EN ER GY CO MPE N SATI O N SU R VEY R E P O RT 20248 320k13%(SGD)SINGAPORE(S

29、GD)15%15%6%12%2%3%0%12%6%2%6%6%2%340k3%(AUD)AUSTRALIA(AUD)6%14%8%17%15%4%8%4%4%2%8%3%4%0%The energy storage professionals we surveyed across APAC reported earning a broad range of salaries,reflecting the span of locations,roles,sectors,and seniority levels among our respondents.The majority of respo

30、ndents were based in Australia and Singapore,so we have provided a full breakdown of the base salaries they received at their current company in both locations below,not including benefits,on-target earnings,bonuses,or any other monetary contributions:Base SalariesR EN EWAB LE EN ER GY CO MPE N SATI

31、 O N SU R VEY R E P O RT 20249Base Salary IncreasesHave you received a base salary increase in the last 12 months?If yes,what percentage of your base salary did you receive?0-5%6-10%11-15%16-20%21-29%30+%Yes66%No34%30%19%6%6%1%4%Two thirds(66%)of energy storage professionals in APAC received a base

32、salary increase in the past year according to our survey,although just 17%earned an increase worth more than 10%of their salary.Yes74%No26%Have you received a bonus in the last 12 months?If yes,what percentage of your base salary did you receive?0-5%6-10%11-15%16-20%21-29%30+%13%16%9%17%9%10%Bonus&C

33、ommissionsof energy storage professionals said they received a commission or sales bonus worth 0-5%of their base salary in the last 12 monthssaid they received one worth 16-20%of their base salary 28%30%Our survey revealed that more of APACs energy storage professionals received a bonus than a salar

34、y increase,with just under three quarters(74%)being awarded a bonus within the past year.The value of these bonuses varied greatly,although between 16-20%of respondents base salaries was narrowly the most common amount received(17%).R EN EWAB LE EN ER GY CO MPE N SATI O N SU R VEY R E P O RT 2024102

35、7%Less than 7 days 2%7-13 days 10%14-20 days 48%21-27 days 28%28-35 days 10%36-40 days 1%41 days+1%How many days of paid annual leave do you get in your current package?Annual&Parental Leave Do you get maternity/paternity leave at your current company?NoYes,I get paid maternity leaveYes,I get paid p

36、aternity leaveI dont know 27%12%40%21%Just under half(48%)of our surveyed energy storage professionals in APAC received 14-20 days of paid annual leave,and 52%said they received paid parental leave.of mothers received 11-12 weeks of paid maternity leaveof fathers received 1-2 weeks of paid paternity

37、 leave 41%25%31%34%BenefitsMedical coverAdditional pension(such as CPF or superannuation)Travel allowance(such as a car park allowance,petrol,flights,or train fares)The top three benefits our surveyed energy storage professionals received were:R EN EWAB LE EN ER GY CO MPE N SATI O N SU R VEY R E P O

38、 RT 202411Yes80%Are your working hours flexible in your current role?Do you have flexibility to work remotely in your current role?If yes,how many days per week can you work remotely on average?No1 day2 days3 days4 days5 days26%9%27%15%16%I dont know3%4%No20%FlexibilityAPACs energy storage professio

39、nals generally received higher levels of flexibility with their working hours than with their working location.80%said they had flexible working hours in their current role,compared to 74%who said they could work remotely.Working 2 days a week remotely on average was most common(27%),but 16%did so 5

40、+days a week.R EN EWAB LE EN ER GY CO MPE N SATI O N SU R VEY R E P O RT 202412The top three motivations for leaving a company according to the energy storage professionals we surveyed were:Career Motivations Changes to their role,manager,or company Work-life imbalance Feeling unchallenged/bored Hig

41、her base salary Better company reputation/brand Flexible working/work from home policies Push factorsPull factorsThe top three motivations that would attract our surveyed energy storage professionals to join a new company were:of energy storage professionals in APAC said they are looking for a 16-20

42、%pay rise in their next role.3%would be happy with a flat move.31%of respondents said they would accept a lower base salary for more shares/equitysaid that flexible working is very important or important when considering a new opportunitywould accept a new role if it was based in an office full time

43、,however 35%would notSalary MotivationsFlexible Working Motivations 31%78%65%R EN EWAB LE EN ER GY CO MPE N SATI O N SU R VEY R E P O RT 202413Offshore WindR EN EWAB LE EN ER GY CO MPE N SATI O N SU R VEY R E P O RT 202414The majority of offshore wind professionals we surveyed were based in Taiwan,s

44、o we have provided a full breakdown of the base salaries they said they received at their current company below.While salaries varied depending on various factors,from the size and location of the company respondents work for to their seniority level,there were two standout results on both ends of t

45、he spectrum:Base Salaries 4m24%(NTD)8%7%9%9%9%4%6%1%1%3%1%1%0%1%16%TAIWAN(NTD)R EN EWAB LE EN ER GY CO MPE N SATI O N SU R VEY R E P O RT 202415Yes70%No30%If yes,what percentage of your base salary did you receive?0-5%6-10%11-15%16-20%21-29%30+%35%18%8%5%1%3%Base Salary IncreasesHave you received a

46、base salary increase in the last 12 months?70%of surveyed offshore wind professionals said they received an increase to their base salary within the past 12 months,but the increments were generally small,with just over two thirds(35%)receiving a raise worth 0-5%of their base salary.Yes77%No23%If yes

47、,what percentage of your base salary did you receive?0-5%6-10%11-15%16-20%21-29%30+%11%21%16%13%7%9%Have you received a bonus in the last 12 months?Bonus&CommissionsAPACs offshore wind professionals more often received a bonus than a salary increase over the last year 77%were awarded a bonus across

48、the subsector.21%received a bonus worth between 6-10%of their base salary,but larger bonuses were also commonly given.18%32%of offshore wind professionals said they received a commission or sales bonus worth 0-5%of their base salary in the last 12 monthssaid they received one worth 26-30%of their ba

49、se salary,and a further 15%received a 6-10%commission or sales bonus R EN EWAB LE EN ER GY CO MPE N SATI O N SU R VEY R E P O RT 20241622%Annual&Parental Leave Do you get maternity/paternity leave at your current company?NoYes,I get paid maternity leaveYes,I get paid paternity leaveI dont know The n

50、umber of paid annual leave days APACs offshore wind professionals received varied more than other renewable energy fields,but the largest proportion of respondents(39%)were given between 14-20 days.42%said they received paid parental leave slightly lower than the 47%average across our entire survey

51、of renewable energy professionals.of mothers received 11-12 weeks of paid maternity leaveof fathers received 1-2 weeks of paid paternity leave 31%15%27%27%39%25%29%34%Medical coverExtra holiday on top of annual leave (charity days,birthday leave,anniversary leave etc)Travel allowance(such as a car p

52、ark allowance,petrol,flights,or train fares)BenefitsThe top three benefits our surveyed offshore wind professionals received were:Less than 7 days 8%7-13 days 10%14-20 days 39%21-27 days 29%28-35 days 12%36-40 days 1%41 days+1%How many days of paid annual leave do you get in your current package?R E

53、N EWAB LE EN ER GY CO MPE N SATI O N SU R VEY R E P O RT 202417Yes78%Are your working hours flexible in your current role?Do you have flexibility to work remotely in your current role?If yes,how many days per week can you work remotely on average?No1 day2 days3 days4 days5 days29%16%22%13%12%I dont

54、know6%2%No22%Flexibility78%of survey respondents working in offshore wind reported having flexible working hours in their current role.71%said they had remote working flexibility,with 2 days a week working at home being the most common.R EN EWAB LE EN ER GY CO MPE N SATI O N SU R VEY R E P O RT 2024

55、18The top three motivations for leaving a company according to the offshore wind professionals we surveyed were:Career Motivations Work-life imbalance Changes to their role,manager,or company Feeling unchallenged/bored Higher base salary Better company reputation/brand Good benefits(holiday,insuranc

56、e,medical etc)Push factorsPull factorsThe top three motivations that would attract our surveyed offshore wind professionals to join a new company were:of offshore wind professionals in APAC said they are looking for a 21%+pay rise in their next role.3%would be happy with a flat move.31%of respondent

57、s said they would accept a lower base salary for more shares/equitysaid that flexible working is very important or important when considering a new opportunitywould accept a new role if it was based in an office full time,however 26%would notSalary MotivationsFlexible Working Motivations 26%70%74%R

58、EN EWAB LE EN ER GY CO MPE N SATI O N SU R VEY R E P O RT 202419Spotlight on TaiwanWhile Taiwans offshore wind industry is experiencing significant growth and development,positioning itself as a leader in the Asia-Pacific region with the recent inauguration of the Greater Changhua 1 and 2a wind farm

59、s,it is facing several challenges in the job market.One primary issue is the shortage of experienced local talent.Despite the governments efforts to encourage localisation and the use of“Made in Taiwan”components,the domestic supply chain and workforce lack sufficient expertise and experience in off

60、shore wind technology.This gap has led to delays and increased costs as companies struggle to meet localisation requirements and maintain high standards of performance and quality,which will be crucial for future sustainable development.“Its been a quite a challenging year for offshore wind in Taiwa

61、n given its supply chain problems and local talent shortages,and thats had an impact on compensation.”says Gerald Mak,Associate Vice President APAC Energy,Power&Renewables at LVI Associates.“Professionals also generally prefer working for international companies from a cultural perspective,as compan

62、y reputation and stability is important to them and they consider the long-term market outlook.However,some international developers have recently left the market due to projects not being profitable with the ongoing challenges,so some people are accepting lower salaries or moving to local firms to

63、have a secure job.”R EN EWAB LE EN ER GY CO MPE N SATI O N SU R VEY R E P O RT 202420Onshore WindR EN EWAB LE EN ER GY CO MPE N SATI O N SU R VEY R E P O RT 202421Most of the onshore wind professionals we surveyed were based in Australia,so we have provided a full breakdown of their current base sal

64、aries below.Salaries were widespread across the country,accounting for differences in previous experience,length of time in the field,and demand for particular skills,but the majority reported earnings in the range of AUD 140k-AUD 200k.Base Salaries80k-99k100k-119k120k-139k140k-159k160k-179k180k-199

65、k200k-219k220k-239k240k-259k260k-279k280k-299k300k-319k320k-339k 340k2%(AUD)6%6%9%17%12%8%6%10%2%2%4%0%6%AUSTRALIA(AUD)19%R EN EWAB LE EN ER GY CO MPE N SATI O N SU R VEY R E P O RT 202422Base Salary IncreasesTwo thirds(66%)of survey respondents working in onshore wind said they were awarded a pay r

66、ise in the last year.The highest proportion(30%)received an increase worth between 0-5%of their base salary,and a further 16%received one worth 6-10%.If yes,what percentage of your base salary did you receive?0-5%6-10%11-15%16-20%21-29%30+%12%20%11%10%9%12%Have you received a bonus in the last 12 mo

67、nths?Bonus&Commissions74%of our surveyed onshore wind professionals received a bonus within the last year.As with other renewable energy subsectors,the amount respondents received varied much more widely than with base salary increases.Bonuses worth 30%+of their salary were just as likely as 5%or un

68、der,meaning they could be a key element of compensation packages to revise for companies struggling to attract and retain talent.20%32%of onshore wind professionals said they received a commission or sales bonus worth 0-5%of their base salary in the last 12 monthssaid they received one worth 6-10%of

69、 their base salary Have you received a base salary increase in the last 12 months?If yes,what percentage of your base salary did you receive?0-5%6-10%11-15%16-20%21-29%30+%Yes66%No34%30%16%7%5%3%5%Yes74%No26%R EN EWAB LE EN ER GY CO MPE N SATI O N SU R VEY R E P O RT 20242325%Annual&Parental Leave D

70、o you get maternity/paternity leave at your current company?Following the wider trend seen across the rest of APACs renewable energy sector,just under half(48%)of the onshore wind professionals we surveyed received 14-20 days of paid annual leave.Overall,52%said they received paid parental leave.of

71、mothers received 1-2 weeks of paid maternity leaveof fathers received 1-2 weeks of paid paternity leave 38%NoYes,I get paid maternity leaveYes,I get paid paternity leaveI dont know 29%16%36%19%Less than 7 days 6%7-13 days 7%14-20 days 46%21-27 days 28%28-35 days 12%36-40 days 1%41 days+1%22%27%32%Me

72、dical coverAdditional pension(such as CPF or superannuation)Travel allowance(such as a car park allowance,petrol,flights,or train fares)BenefitsThe top three benefits our surveyed onshore wind professionals received were:How many days of paid annual leave do you get in your current package?R EN EWAB

73、 LE EN ER GY CO MPE N SATI O N SU R VEY R E P O RT 202424Yes79%Are your working hours flexible in your current role?Do you have flexibility to work remotely in your current role?If yes,how many days per week can you work remotely on average?No1 day2 days3 days4 days5 days22%12%26%16%20%I dont know3%

74、1%No21%FlexibilityAPACs onshore wind professionals reported similar levels of flexible working compared to their peers in other fields.79%had flexible working hours,and 78%could work remotely in some capacity,with 2 days a week being the most common.It is also worth noting that 20%said they worked r

75、emotely 5+days a week,slightly above the average of 14%across the renewable energy sector.R EN EWAB LE EN ER GY CO MPE N SATI O N SU R VEY R E P O RT 202425The top three motivations for leaving a company according to the onshore wind professionals we surveyed were:Career Motivations Changes to their

76、 role,manager,or company Work-life imbalance Feeling unchallenged/bored Higher base salary Better company reputation/brand Flexible working/work from home policiesPush factorsPull factorsThe top three motivations that would attract our surveyed onshore wind professionals to join a new company were:o

77、f onshore wind professionals in APAC said they are looking for a 21%+pay rise in their next role.3%would be happy with a flat move.32%of respondents said they would accept a lower base salary for more shares/equitysaid that flexible working is very important or important when considering a new oppor

78、tunitywould accept a new role if it was based in an office full time,however 36%would notSalary MotivationsFlexible Working Motivations 35%76%64%R EN EWAB LE EN ER GY CO MPE N SATI O N SU R VEY R E P O RT 202426SolarR EN EWAB LE EN ER GY CO MPE N SATI O N SU R VEY R E P O RT 20242779k80k-99k100k-119

79、k120k-139k140k-159k160k-179k180k-199k200k-219k220k-239k240k-259k260k-279k280k-299k300k-319k320k-339k 340k5%(AUD)7%14%16%13%7%7%5%3%2%1%3%4%AUSTRALIA(AUD)13%0%340k22%(SGD)17%15%7%1%2%0%7%4%1%3%5%4%SINGAPORE(SGD)12%0%Most of the solar professionals we surveyed across APAC were based in Australia and S

80、ingapore,so you can find a full breakdown of the base salaries they reported in each location below.Both sets of results remain broadly consistent with the rest of the renewable energy sector:Base SalariesR EN EWAB LE EN ER GY CO MPE N SATI O N SU R VEY R E P O RT 202428Base Salary Increases68%of ou

81、r surveyed solar professionals revealed they received a pay rise within the last year.30%received an increase worth between 0-5%of their base salary,and a combined 11%received a raise worth upwards of 16%of their salary.If yes,what percentage of your base salary did you receive?0-5%6-10%11-15%16-20%

82、21-29%30+%14%16%10%14%6%11%Have you received a bonus in the last 12 months?Bonus&CommissionsIn line with our results across the wider renewable energy sector,more solar professionals received a bonus than a salary increase in the past year,and bonus values were again much more varied,accounting for

83、differences in seniority level and expertise but also the location and type of company.17%35%of solar professionals said they received a commission or sales bonus worth 0-5%of their base salary in the last 12 monthssaid they received one worth 16-20%of their base salary Have you received a base sala

84、ry increase in the last 12 months?If yes,what percentage of your base salary did you receive?0-5%6-10%11-15%16-20%21-29%30+%30%19%8%5%1%5%Yes68%No32%Yes71%No29%R EN EWAB LE EN ER GY CO MPE N SATI O N SU R VEY R E P O RT 20242922%Annual&Parental Leave With 52%of solar professionals receiving 14-20 da

85、ys of paid annual leave in their current role,and a further 24%receiving 21-27 days,these results reveal an opportunity for organisations to offer more generous annual leave packages to stand out from competitors and attract top talent.Half(50%)also received paid parental leave.of mothers received 1

86、5-16 weeks of paid maternity leaveof fathers received 1-2 weeks of paid paternity leave 39%Do you get maternity/paternity leave at your current company?NoYes,I get paid maternity leaveYes,I get paid paternity leaveI dont know 30%12%38%20%Less than 7 days 2%7-13 days 13%14-20 days 52%21-27 days 24%28

87、-35 days 8%36-40 days 0%41 days+1%26%29%39%Medical coverAdditional pension(such as CPF or superannuation)Travel allowance(such as a car park allowance,petrol,flights,or train fares)BenefitsThe top three benefits our surveyed energy&infrastructure professionals received were:How many days of paid ann

88、ual leave do you get in your current package?R EN EWAB LE EN ER GY CO MPE N SATI O N SU R VEY R E P O RT 202430Yes78%Are your working hours flexible in your current role?Do you have flexibility to work remotely in your current role?If yes,how many days per week can you work remotely on average?No1 d

89、ay2 days3 days4 days5 days27%14%23%14%14%I dont know5%3%No22%FlexibilityThe majority of our surveyed solar professionals were offered some form of flexible working.78%said they had flexible working hours,and 73%could work remotely,with nearly a quarter(23%)doing so 2 days a week on average.R EN EWAB

90、 LE EN ER GY CO MPE N SATI O N SU R VEY R E P O RT 202431The top three motivations for leaving a company according to the solar professionals we surveyed were:Career Motivations Changes to their role,manager,or company Work-life imbalance Feeling unchallenged/bored Higher base salary Better company

91、reputation/brand Flexible working/work from home policiesPush factorsPull factorsThe top three motivations that would attract our surveyed solar professionals to join a new company were:of solar professionals in APAC said they are looking for a 16-20%pay rise in their next role.3%would be happy with

92、 a flat move.35%of respondents said they would accept a lower base salary for more shares/equitysaid that flexible working is very important or important when considering a new opportunitywould accept a new role if it was based in an office full time,however 30%would notSalary MotivationsFlexible Wo

93、rking Motivations 30%74%70%R EN EWAB LE EN ER GY CO MPE N SATI O N SU R VEY R E P O RT 202432Spotlight on AustraliaSolar energy is receiving significant investment in Australia in both residential and commercial markets,with a steady rise in solar projects including notable developments such as the

94、Bulli Creek Solar Project and the expansion of rooftop solar at Adelaide Airport.However,there is a growing shortage of professionals for skilled labour,particularly in technical roles like solar PV installers,electricians,and engineers,exacerbated by the rapid pace of project approvals and installa

95、tions.Upskilling local workforces and attracting talent from overseas remain key priorities,and Gerald notes that international firms operating in the country should be aware of cultural norms and differences when it comes to keeping their talent happy,using flexible working as an example:“Where pro

96、fessionals working in Australia are likely to have longer commutes and therefore have a preference for remote working,coming back into the office post-COVID has been more accepted in other Asian countries.This can lead to culture clashes if,for example,a firm based in Mainland China is expecting sta

97、ff in Australia to be in the office,so hiring managers should bear this in mind.”Spotlight on SingaporeSolar is the leading renewable energy source in Singapore,supported by policies like the SolarNova program and various subsidies and incentives aimed at increasing adoption rates.But despite solar

98、PV capacity steadily rising and new projects continually being developed,much like the rest of the APAC region,attracting people with the right knowledge to work on these developments can be a struggle,as Gerald explains:“Singapore has a very stable government and economy,making it a very attractive

99、 place for businesses.What we are seeing,however,is that there are now increased requirements for employment passes for international talent,so its harder for them to come to Singapore for work.Rent is also increasing,making it less affordable to live there.Compensation packages need to be regularly

100、 reviewed to ensure they are still attractive to skilled professionals as a result.”R EN EWAB LE EN ER GY CO MPE N SATI O N SU R VEY R E P O RT 202433SummaryAs Asia-Pacific continues its shift away from traditional energy sources towards renewables,having the right expertise on board is critical for

101、 ensuring the successful completion and profitability of projects,ultimately contributing to meeting the regions net zero targets and creating a greener future.Our survey results show that salary,work-life balance,company reputation,and feeling both secure and challenged in their role are all import

102、ant factors for professionals considering their next career opportunity,which can make attracting and retaining people a challenge.However,our survey findings can be used by companies to pinpoint areas of compensation that could be reviewed and enhanced to make offers more attractive and competitive

103、.LVI Associates can also provide you with additional support as well as sourcing shortlists of exceptional candidates and managing the hiring process,our dedicated talent experts can help you determine the exact reasons for talent attrition at your firm,or why professionals are choosing to accept ro

104、les at competitors over your own.Plus,with so many factors for renewable energy experts to consider when deciding on their next project or career path,LVI Associates is also here to support professionals with finding roles at industry-leading firms that align with their goals.We hope this report has

105、 provided you with actionable takeaways to improve your hiring strategy or benchmark your current compensation package.If you would like further information or advice,including bespoke salary benchmarking or to discuss a vacancy,please get in touch with the LVI Associates team.R EN EWAB LE EN ER GY

106、CO MPE N SATI O N SU R VEY R E P O RT 202434LVI Associates is a leading talent partner in the energy&infrastructure industry across the US,Europe and APAC.Energy&infrastructure plays a critical role in creating a future that works for everyone,which is why it is essential to work with the right tale

107、nt partner who can source and deliver extraordinary people that make a difference.Providing bespoke talent solutions from our hubs all over the world,we cover the full life cycle of energy&infrastructure projects,across architecture,engineering,construction,and post-construction.As a strategic advis

108、or with a proven track record in helping businesses scale through our services,we are integral to the energy&infrastructure ecosystem,focusing on the talent solutions needed to let organizations get back to what matters building a better world.About LVI Associates OUR SPECIALISMS Architecture Automa

109、tion&Controls Building Diagnostics Building Services Civil Construction Data Centers Environmental Investigations&Disputes Power Delivery Renewable Energy Technology Gerald Mak Associate Vice President APAC Energy,Power&Renewables Contact GeraldKayleigh Regan Head of LVI Associates APAC Contact Kayl

110、eighContact LVI Associates R EN EWAB LE EN ER GY CO MPE N SATI O N SU R VEY R E P O RT 202435 594 renewable energy professionals in APAC took part in our survey 30%were based in Taiwan,25%were based in Australia,and 20%were based in Singapore 42%said they were in a manager-level role at their curren

111、t company,26%were individual contributors,and 13%were director-level1 https:/ https:/ 3 https:/ https:/ 5 https:/ https:/www.energymonitor.ai/tech/renewables/asia-pacific-to-power-global-offshore-wind-growth-gwec/7 https:/ https:/www.japantimes.co.jp/environment/2024/03/06/energy/solar-farms-creative-space-use/9 https:/www.renews.biz/91552/renewable-energy-power-costs-fall-in-apac/Please note:Survey results are rounded to the nearest 1%.About RespondentsReferences