The findings contrast markedly with the respondents in other industries, reflecting less negativity amongst energy and infrastructure sector professionals. The survey also complements other research by Augusta & Co finding that the appetite for renewable energy among investors in Europe remains robust, despite the COVID-19 crisis.
The work force in APAC was highly disrupted by Covid-19 following the Lunar New Year celebrations. This prompted LVI Associates to conduct a Job Confidence Index survey to understand Energy & Infrastructure professionals’ views on the economic outlook, job security, current job satisfaction and satisfaction with current salary levels.
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 the Middle East. The majority of the surveyed professionals hold Mid-level to Senior, or higher, positions.
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 increased compensation 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.
“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. “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. “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 $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.”
The survey also shows that if made redundant, over half (56 percent) of the current employees are confident in their ability to find a new role within three months.
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 percent 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.
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