SALARY SURVEY & MARKET OVERVIEW - Kelly Services · 2018-12-04 · Banking & Finance 48 Transferable Function 54 Outsourcing Trend 55 China Market 8 ... The millennial generation

KOREA

2019SALARY SURVEY & MARKET OVERVIEW

4Executive Overview

5Our Presence

62019 Korean Market Outlook

CONTENTS

32Semiconductor

36EPC Market

40Automotive

44Banking & Finance

48Transferable Function

54Outsourcing Trend

55China Market

8Consumer

12Healthcare & Life Sciences

16Manufacturing

20Chemicals

24IT

28Emerging Tech Industry

Methodology: Salary Figures included in the 2019 Korea Salary Survey are derived by combining the expert market knowledge of senior recruitment professionals within the Kelly Services, as well as the latest job placement data recorded on the Kelly Services database.

SALARIES

3

Kelly Services (NASDAQ: KELYA, KELYB)

was founded in 1946 and headquartered in

Michigan, USA. The founder, William Russell

Kelly, is widely credited for pioneering the

modern temporary help industry. Kelly Services

is a world leader in human resources and

workforce management solutions, which

includes a full suite of recruitment, outsourcing

and consulting services.

Kelly Services Korea launched in 2008 to

meet the market needs, our service offerings

include: Executive Search, Professional &

Technical recruitment, RPO (Recruitment

Process Outsourcing), MSP (Managed Service

Provider), Staffing, Outplacement and HR

Consulting, Specialisations, like: Automotive,

IT, Life Sciences, Chemical, Consumer &

FMCG, General Industrial & Manufacturing,

Banking & Finance, and other professional

service industries.

ABOUT KELLY SERVICES

PERSOL Korea brand is a sister brand under

Kelly Services Korea to service mainly the

Japanese companies. PERSOL Korea is

considered the leading firm for all Japanese

business in terms of volumes and presence.

This team consists of Native Japanese

consultants to provide advise on hiring

requirements, local talent management, and

labour issues on compensations & benefits

especially in a unique human resources

environment in Korea.

ABOUT PERSOL KOREA

COMPANY OVERVIEW

Kelly Services Korea and PERSOL Korea operates under the PERSOLKELLY company, a joint venture between PERSOL Holdings and Kelly Services, forming one of the largest HR Solutions companies in APAC with its headquarters in Singapore.

2

O P E R A T I O N S

Since

2008

120 professionals

OUR PRESENCE

7 RPO 5 MSP

As a total workforce solution partner, Kelly Services provides end-to-end Human Resources services to our clients.

Placed

hundreds of positions in 2018

SeoulGyeonggi

Busan

4 offices

RECRUITMENT SOLUTION• Executive Search • Permanent Placement • Staffing• Recruitment Process

Outsourcing

CONSULTING SOLUTIONS• Human Resources

Consulting

• Career Transition & Outplacement

• Executive Coaching • Employee Training

AREAS OF EXPERTISE• Consumer • Healthcare & Life Sciences • Manufacturing • Chemicals• IT• Emerging Technology• EPC Market• Automotive• Banking & Finance • China Desk• PERSOL Korea (Japan Desk)

5

YouMe Jeon Managing Director, Kelly Services Korea

In 2018, Korea’s GDP growth rate was estimated at 3%; and 2019 GDP growth is also projected at a lower of 2.6%.

In this slow economic growth, Moon’s government’s labour policy and strategy is expected to affect the way of recruitment tremendously. There are basically two key components that Moon emphasise in his new labour policy – [1] “Job Creation”, and [2] “Work and Life balances”.

These are the key reasons that most Korean city and local government are investing budget in developing new opportunities and encouraging more start-ups, and new enterprises. To ensure that workers have work

EXECUTIVE OVERVIEW

There are two key components in Moon’s labour policy:

and life balances, the government started a-52 hours work-week, starting from local conglomerates and government organisations. This initiative is in the hope to promote greater retention and new hiring. With these new directions, corporates and employees are keeping an eye on how these will affect economy and labour market flow.

At Kelly Services Korea, we work closely with foreign investors in Korea. This salary survey seeks to unfold the expected compensation packages of multinational companies in 2019. With an unpredictable economy and labour market situation, data indicates that the basic salary level for each industry did not change much year-on-year comparatively, except for some specific roles. Also government’s regulation on hiring temporary employees will affect companies’ total direct hiring.

With the data presented in this guide, I also hope to deliver better value and relevance to our clients and candidates. As your preferred partner, we want to assist you to make informed decisions to develop recruitment strategies that suit your talent management needs.

Work and Life balances

Job Creation

4

To be in a job “whole life” is no longer a trend to be found. It is even more unusual to find someone to be retiring from the company that he or she joined as a graduate. Therefore, for successful career development, candidates have to update their career competency, and display their level of adaptivity wherever they are placed, whether in situations or companies. The same applies for the executive level.

With stricter labour policies, companies are now more conservative in hiring new employees than before. So, recruiters are required not only to have deep knowledge in each business and company culture but also greater understanding of candidates to avoid “mis-selection”. With the introduction of AI and VR technology, the screening process and evaluation method are also evolving. While some are still skeptical about using machines to choose the employees, these technologies seem to successfully analyse high-performers in the working pattern and select similar employees.

Due to the non-proven track record of the blockchain technology application, some people still doubt its full capabilities; but, this cross-border money wave is already speeding up its movements. Many recent transactions show that the demand of the blockchain technology is steadily increasing, and the utilisation of the blockchain technology is rapid.

With the rapid injection and high interests in this industry, recruitment trend seems to shift its focus to recruiting talents for FinTech, and financial development. Korean local startup companies are also keen to hire these talents; as such a shortage of professional workforce with digital expertise in the market is a great concern. Since the blockchain industry’s demand is not limited to the Korean market, there is potentially a need to extend sourcing for cross-border talents and to train the talents with the relevant competency to compete in the global market.

Emerging Industries

Blockchain

FintechLife Sciences &

Healthcare

AI, VR, AR

HIRING TRENDS

Linda(Moon-Suk) OhHead of Executive Search & Permanent Placement

7

LABOUR MARKET AT A GLANCE

52 Korean GIG Economy

Minority Millennials

2019 KOREAN MARKET OUTLOOK

Korea is advancing a practice that would cut the maximum work-week from 68 hours to 52. This new policy not only aims to keep the work and life balances of every employee, it also hopes to increase hiring through shorter working hours. However, research has also shown the opposite results regarding this practice – while the quality of life is upgraded; productivity might be an issue challenging the business environment. Corporates are definitely keen to keep productivity, while agreeing with limited working hours and resources.

The millennial generation in U.S, and China is known as an influencer of the world economy. But for Korea, Millennials are not the majority in the economy. The recent changes in the organisational structure show that hiring new employees continues to be a challenge, giving rise to juniors in the organisation becoming a minority. As a result, the real issue facing the generation gap between baby boomers and millennials is one of the “majority-minority relations”, rather than the generation gap.

Although global HR trends show that gig economy (temporary workers) is growing, the Korean government still encourages companies to hire more permanent workers. This aims to reduce discrimination and the salary gap between permanent-temporary employees. Multi-national corporations now have a common practice. They hire a contract worker to test before opening more permanent job positions. However, the government’s regulations have enforced corporations to take a slower and more cautious approach in this practice.

2.6%Expected GDP growth in 2019

1.7%Forecasted

inflation rate in 2019

3.8%Average salary

increase in 2018

Hours Work-Week

(Reference: IMF) (Reference: BOK) (Reference: KLI)

6

Jenna KimConsultant – Consumer

“Multinational companies are downsizing IT support position because they are transferring IT function to shared service center, but still e-commerce related IT and marketing functions are the hottest jobs in these market trend.”

Daniel KimSenior Consultant – Luxury Brand

“Since Korea has been recognised as a sophisticated market in fashion and cosmetics/beauty goods, many foreign travelers visiting Korea enjoy their shopping in major cities of the nation. With this trend, the market has had high demands for strong sales human resources those who have a language ability. These talents are likely to develop their own careers to the upper-level positions such as Retail Manager, Training Specialist and Visual Merchandisers based on the sales experiences in the future which require English communication skill to engage with the global region offices.“

9

In the fast-moving consumer industry, local sales are no more the dominant factor. More and more cosmetic, and food companies are expanding their market to China and South-East Asian countries. With this trend, local conglomerates are more keen to grow and hire employees who have global market development skill and merchandising knowledge.

In recent years, Korea consumer market has been highly recognised as a very sophisticated market in fashion, and cosmetics with many foreign travelers visiting Korea to shop in Seoul CBD areas. As such, these markets have higher demands for strong sales personnel with knowledge in other languages as an added advantage.

Consumer industry is also moving to digital transformation such as Big Data, to achieve greater customer-focused emphasis. Digital and e-commerce businesses are becoming popular with the rapid growth in the cutting-edge shopping platform. Social media has been an important component in the digital space, with consumers taking to social networks and application to praise companies and products they like and /or slam the ones deemed to have fallen short. Viral marketing is also key for consumer industry.

Interestingly, there are now new retail channels in social media. Through the fast growing social networks, hundreds of individual merchandisers have now turned “social” to be dominant in social channels to promote their consumer goods so as to increase sales.

We see a strong call for digital marketing positions in conjunction with the fourth industrial revolution, and retail business recovered by the retail expertise. With many channels now to carry their messages, marketers need to consider how to optimise their marketing dollars for optimal results.

Consumer

8

11µ Hot Job | Figures are base salary not including superannuation.

Salary Range (per year)Unit: Million KRW

WORKING EXPERIENCE (YEARS)

1-3 3-5 5-8 8-15 15+

Min Max Min Max Min Max Min Max Min Max

TECHNICAL (BASE)

Retail

Visual Merchandising 25 30 28 36 31 45 45 65

Junior Sales Advisor 22 26 24 29 30 33

Senior Sales Advisor 28 30 30 34 34 38

Team Manager 34 38 36 40 40 45

Store Manager 45 50 50 60 55 70 60 100

CONSUMER



1-3 3-5 5-8 8-15 15+


TECHNICAL (BASE)

Country Manager 100 250+

Brand Marketing 30 50 40 70 65 90 80 110 100 130

Retail Sales 25 40 40 65 60 75 70 90 90+

IT 30 40 40 60 60 75 75 95 95+

SCM 30 45 40 65 60 80 75 100 90 120

Sales Training 25 45 40 70 60 75 70 85 85+

Project Management 30 45 45 65 65 85 85 100 100 120

Purchasing & Procurement 30 45 40 65 60 80 75 100 90 120

Trade Marketing 25 45 40 70 60 75 70 95 90 130

FUNCTIONAL (BASE)

Human Resources 25 40 40 65 60 80 75 90 100 150+

Human Resources Business Partner 50 60 60 90+

Finance Controller 95 120 130 160

Finance 30 45 40 65 60 80 75 100 90 120

Office Management 35 55 50 70 65 90 85 110

Executive Personal Assistant 25 45 40 55 50 70

General Administration 25 40 35 50 45 60

Sales µ 25 45 40 70 60 75 70 95 90 140

Marketing µ 30 50 40 70 65 90 80 110 100 150

CONSUMER

10

Elsie NohPractice Head – Healthcare & Life Sciences Kelly Scientific Resources

“The Healthcare industry is downsizing their sales department and introducing more online solutions,including mobile applications. Multinational pharma companies are now more keen to find MSL (Medical Science Liaison), which is a more field-based medical job in the pharmaceutical industry to enhance clients’ satisfaction.”

13

To catch up with the technology trend, sales and marketing within the healthcare industry are evolving to be more digital savvy. Each company also develops their own mobile application and widely uses it for digital marketing and information sharing on medical seminars. In the medical research field, the AI technology is also expanding into the medical system, medical devices, medical equipment, and medical product development process.

With the ongoing discussion of Takeda and Shire’s M&A, a global top tier acquisition, this sets the trend of M&A between large pharmaceutical companies and new / unique technology pharmaceutical companies. It seems like this trend will continue for some time.

The anti-cancer market is also growing steadily with the two main technologies of tumor immunotherapy, CAR-T and TCR-T, acknowledged as the next generation technology.

In addition, the vaccine business continues to be fast-growing due to the increased risk of viral/infectious diseases. A rise in the adoption of pets and an aging population adding more seniors to the market are the factors expected to drive the growth of the pet industry, senior healthcare market, and home care market respectively.

Healthcare & Life Sciences

12




1-3 3-5 5-8 8-15 15+


FUNCTIONAL (BASE)

Head of HR (Human Resources Director) 90 130

Human Resources Manager 70 100

Human Resources Business Partner 70 95

Head of Finance (Finance Controller / Finance Director)

90 150

Finance Manager 80 110

HEALTHCARE & LIFE SCIENCES



1-3 3-5 5-8 8-15 15+


TECHNICAL (BASE)


Business Unit Manager / Director 120 180

Sales Director 100 170

National Sales Manager 100 120

Marketing Manager 100 150

Group Brand Manager 80 120

Product Manager / Brand Manager 50 65 60 85

Head of Medical (Country Medical Director)

150 250+

Medical Advisor / Director (Medical Doctor)

100 150 120 200 180 230

Medical Affairs Manager 75 120

Medical Science Liaison µ 40 50 50 60 50 80

Regulatory Affairs Director 100 150

Regulatory Affairs Manager 75 110

Head of Reimbursement 120 170

Pricing & Reimbursement Manager 75 95

Clinical Research Manager 80 120

Clinical Project Manager 60 80

Clinical Research Associate 40 65

Quality Manager (Pharmacist) 80 120

Quality Specialist (Pharmacist) 45 55

HEALTHCARE & LIFE SCIENCES

14

Jason ChoSenior Consultant - Manufacturing

“No matter which industry it might be, most HR departments face the real challenge of retaining highly skilled workers within an organisation. Given the already substantial shortages in the workforce and recruiting abilities, minimising attrition is absolutely critical for manufacturing companies. Unfortunately, the industry can naturally be prone to high turnover rates as people are drawn to explore new and exciting opportunities.”

17

Automation is one of the hottest topics discussed in 2018, going hand-in-hand with new developments in the robotics arena. We are expecting that the manufacturing processes will easily be automated soon enough. Machine learning will eventually allow technology to be self-correcting—this will not only increase the efficiency of the manufacturing industry as a whole, it will also witness faster growth. Coupled with robotics infiltration, automation, the job landscapes might also evolve. Apparently humans will not be required to do more basic tasks anymore; jobs will instead be focused on programming, maintaining and monitoring these areas. Given the increasing natural disasters and political tensions globally, supply chain risk will become a strategic priority within all manufacturers in 2018 again. This will call for more attention and efforts in looking at managing suppliers to higher product quality levels, while attaining more accurate demand forecasts. It is clear that the manufacturing industry is undergoing some dramatic changes. 2019 will anticipate new and exciting developments that might change the way manufacturers work, from improving processes to shifting the job landscapes. Going forward, no one can be sure what the future might holds.

Manufacturing

16




1-3 3-5 5-8 8-15 15+


FUNCTIONAL (BASE)

Human Resources 28 42 42 50 50 62 62 85 85 120+

Finance 30 42 42 54 54 66 66 90 90 120+

General Administration 24 32 32 43 43 52 52 81

Sales 28 48 48 60 60 72 72 105 105 130

Marketing 30 42 42 54 54 68 68 90 90 120

Supply Chain 28 40 40 50 50 65 65 90 90 120

Logistics 28 40 40 50 50 65 65 90 90 110

Procurement, Purchasing 28 40 40 50 50 65 65 90 90 120

MANUFACTURING



1-3 3-5 5-8 8-15 15+


TECHNICAL (BASE)

General Manager 130 180+

Plant Manager 75 100 100 150+

Maintenance 28 34 34 43 43 56 56 81 81 100+

Engineering 28 32 32 45 45 58 58 78 78 110+

Automation Engineer 34 42 42 52 52 67 67 92 92 110+

Design Engineer 30 44 44 56 56 69 69 92 92 110+

Electrical / Mechanical Engineer µ 30 44 44 58 58 78 78 92 92 120+

Project Manager 70 90 90 120+

Process Engineer µ 30 43 43 56 56 70 70 92

Quality 30 43 43 53 53 65 65 88 88 120+

R&D 35 48 48 59 59 77 77 100 100 130+

Technical 30 44 44 55 55 68 68 89 89 120+

MANUFACTURING

18

Anne LeePractice Head – IT, Industrial and Chemical Resources

“Both local and global chemical companies are focusing on high-growth markets with an effort to move away from cost-cutting and retrenchment. Companies are also investing in recruiting and growing R&D Chemist to produce high-value added products.”

21

ChemicalsIn this changing global economy, the chemical industry seems to be on the up, maintaining its strength across major end-users markets in automotive, construction and electronics. Another positive outlook on the industry is the recovery in the demand for the energy space. It is said that the recovery has been caused in response to the jump in the crude oil prices.

Fueled by the advancement of technology, some of the chemical companies have gradually been changing their business models toward profitability. What this means is that, they focus on high-growth markets with an effort to move away from cost-cutting and retrenchment. Though it is still in its early stage, yet it is significant, and could place the chemical industry on a path to enhance performance in the short-term, offering bright prospects for long-term growth.

20


CHEMICAL



1-6 7-10 11-15 16-20 20+


FUNCTIONAL (BASE)

Human Resources 35 55 55 65 65 75 75 95 95 130+

PR & Communications, Marketing 35 55 55 70 70 80 80 100 100 130+

Finance and Accounting 35 50 55 65 65 80 80 90 90 150+

Procurement and Sourcing 35 55 55 70 70 85 85 95 95 130+

Compliance & Risk Management µ 70 85 85 100 100 150+

IT and Data System µ 35 55 55 65 65 80 80 90 90 120+

Office Admin / Executive Assistant 30 45 45 55 55 65

CHEMICAL



1-6 7-10 11-15 16-20 20+


TECHNICAL (BASE)

Country Manager / General Manager 150 180 180 300+

Technical Manager, Director 75 85 85 110 110 150+

R&D Manager, Director 75 85 85 100 100 180+

Engineering Manager, Director 75 85 85 100 110 150+

Production Manger, Director 65 80 80 95 95 130+

R&D Chemist µ 55 60 60 70 70 85

Sales Manager, Director 60 70 70 85 90 120 120 180+

Application Manager, Director µ 65 75 75 85 85 100 100 150+

Regulatory & Product Stewardship µ 65 75 75 85 85 95 95 120+

Plant Maintenance Manager 65 75 75 80 80 100+

EHS Engineer 35 40 40 50 50 60 60 70 70 80

Electrical & Instrumental / Mechanical Engineer

35 55 55 65 65 80 80 90

Process / Project Engineer 40 60 60 70 70 85 85 95

Quality Control & Assurance Manager 40 55 55 65 65 75 75 85

Ratability and Inspection Engineer 35 50 50 60 60 65 65 70

Construction Engineer 30 40 40 45 45 60 60 80

Automation Engineer 30 45 45 55 55 65 65 75

Six Sigma Manager 75 85 85 100

22

Anne LeePractice Head – IT, Industrial and Chemical Resources

“Unicorn companies with core technical competencies and unique products are gradually more and more favoured by key talents.”

25

Software and IT services will continue to account for the biggest tech categories, with Cloud as the primary growth enabler. Making a full transition to Cloud has proven to be more challenging than anticipated; more businesses may consider using Hybrid Cloud Solutions instead. With a Hybrid Cloud, companies can transit at their own pace; hence, reducing risks and costs. At the same time, it will allow companies to experience the efficiency and effectiveness of the Cloud solutions.

With the current cloud trends, it is predicted that the cloud solutions and IT services in public and private sectors will further grow and expand in 2019.

E-commerce, though a mature market is experiencing weak profits in recent years. This is largely due to the fierce competitions of O2O, OTA. The seriously decentralised content market is foreseen to be caught in another M & A tide.

InformationTechnology

24


INFORMATION TECHNOLOGY



1-3 3-5 5-8 8-15 15+


FUNCTIONAL (BASE)

Human Resources 35 55 55 70 70 80 80 100 100 150+

PR & Communications, Marketing 35 60 60 75 75 85 85 110 110 150+

Finance and Accounting 35 55 55 70 70 85 85 110 110 180+

Procurement and Sourcing 35 55 55 70 70 85 85 95 95 130+

Compliance & Legal µ 55 70 70 85 85 100 100 150+

IT System & Application Analyst, Engineer

µ 35 55 55 65 65 80 80 90 90 120+

Office Admin / Executive Assistant 30 45 45 55 55 65

INFORMATION TECHNOLOGY



1-3 3-5 5-8 8-15 15+


TECHNICAL (BASE)

Country Manager / General Manager 120 180 180 300+

Business Development Manager, Director

80 90 90 140 140 180+

Account Manager, Director 65 75 75 90 90 150 150 200+

Sales and Client Representative 40 65 65 75 75 90 90 150 150 200+

Pre-Sales Manager, Director 35 45 45 70 70 90 90 120 120 180+

Technical Delivery Manager 70 80 80 100 100 150

Solutions Architect and Consulting Manager, Director

75 85 85 110 110 150+

Channel & Partner Manager 70 80 80 100 100 130

Contract & Sales Operations 60 70 70 80 80 100 100 130

Cloud Technology Specialist µ 80 90 90 120 120 150

Digital Platform Marketing, Specialist µ 40 55 55 65 65 85 85 100

Big Data Analyst & Scientist µ 60 80 80 100

UI / UX Designer, Manager µ 60 75 75 90

FSE (Field Service Engineer) 30 45 45 55 55 70

System Administrator 35 45 45 55 55 70

UI / UX / Web Engineer 35 50 50 60 60 70

26

Felicia ChoiSenior Consultant

“People need to create new strategy with new industry defined, as this will create a new job market. People with new skillset for the AI-driven business and newly created business will be more advantageous in the 21st century.”

29

The “Big Bang” in the 21st Century focuses on Robots, IoT and AI.

With the disruption of the AI technology, all the industries are now redefined; all the services seem to evolve with the AI power. People will begin to see the expansion of business, which was never existed. Eventually, AI will replace most of the human work. People are going to be able to control robotic operation from a remote place; through an automatic driving technology they can arrive at their destination while sleeping. With Fintech, it will enable anyone to check the qualification for a loan within seconds. By DNA analysis, medical care can be changed to preventive medicine.

While these technological changes might advance our lifestyle, it might also be a hassle. Most importantly, it might become worrisome when technology becomes monopolised for profitable gain.

Emerging Tech Industry

28


EMERGING TECH INDUSTRY



1-3 3-5 5-8 8-15 15+


FUNCTIONAL (BASE)

Human Resources Manager, Director 60 70 80 120 120+

Human Resources Business Partner 60 70 70 100 100+

Finance Controller 80 120 120+

Finance Business Partner 60 80 80 100 100+

Office Manager 40 50 50 60 60 70+

Executive Personal Assistant 35 40 40 50 50 60 60 70


EMERGING TECH INDUSTRY



1-3 3-5 5-8 8-15 15+


TECHNICAL (BASE)

Country Manager 150 300 300+

Sales Director 150 200 200+

Account Sales Manager 100 180 180+

Customer Experience Manager 100 180 180+

Marketing Manager, Director 100 180 180+

Technical Account Manager µ 100 150 150+

Solutions Architect µ 100 150 150+

Pre-Sales (Field Application Engineer) 50 80 80 130 130+

R&D Engineer 50 60 60 80 80 150 150+

FSE (Field Service Engineer) 40 50 50 70 70 90 90+

30

Tony SonSenior Consultant – Semiconductor

“In the current boom, employees have low interest in new job offer. As a result, demand and supply imbalances in the recruitment market will continue. We should pay attention to the large-scale recruitment that is connected with the capital investment of the semiconductor fab.”

33

It is known that the global semiconductor industry is dominated by Korea. However, in recent years, China has been actively investing in this area to compete with Korean companies. With China creating this competition, negative opinions have formed about the semiconductor market prospects, causing some upheaval.

Korea still has its competitive edge and creditability in the semiconductor industry, so large-scale investment still continues and recruitment of professionals in semiconductor is also maintaining.

Semiconductor

32


SEMICONDUCTOR



1-3 3-5 5-8 8-15 15+


FUNCTIONAL (BASE)

Human Resources Manager, Director 50 100 70 150+

Human Resources Business Partner 50 90 70 120

Finance Controller 80 100 90 150+

Finance Manager 50 100 70 130

Sales Administration 30 40 35 50 40 60

General Administration 30 40 35 50 40 60

SEMICONDUCTOR



1-3 3-5 5-8 8-15 15+


TECHNICAL (BASE)


Technical Manager 100 150 120 200+

Application Engineer µ 40 60 50 80 60 90

Application Manager 70 140 100 150+

Product Manager 60 100 80 140+

Sales Representative 35 50 40 60 50 80

Sales Manager 60 120 70 200+

Field Service Engineer µ 30 50 35 60 45 70 50 80

Field Service Manager 60 90 70 160+

34

Chloe AhnDirector – EPC Market

“In terms of operation, the main issue for 2019 is to ensure organisational stability and developing new markets. The shipbuilding, offshore and land-based EPC, which suffered the largest number of downsizing this year, are keen to recruit HR strategists with global competencies. Also, there will be many chances for business development candidates who have second language competence.”

37

The EPC market is recovering slightly from a long depression in Q3 of 2018, though some companies are still undergoing restructuring. But, overall, the market players will break through this depression by taking aggressive overseas project orders. Korean EPC market is in a situation where the number of orders is low, with the fewer number of projects, and poor operating profit. So, the expected visible results might only be from 2019.

Globally, within the energy EPC markets, “Smart plant”, “Eco plant” and “Safety Plant” are the buzz terms. With IoT, they can now anticipate the waste and obstacles expected in the petrochemical drilling and production process. This will help in the pursuit of cost reduction, safety, and productivity maximisation. In addition, Big Data analysis, while most commonly used in the B2C industry, is also expanding into the manufacturing industry. To build a “Smart plant” based on data analysis, IoT, and automation, will definitely increase the demand for technically related talents tremendously.

As global regulations for environment and safety become increasingly stringent, companies are devoting themselves to replace existing products with more eco-friendly, safety products. At the same time ensuring safety awareness training is catered for. This trend is happening not only in construction companies and shipyards, also in lower value chains.

EPC Market

36




1-3 3-5 5-8 8-15 15+


FUNCTIONAL (BASE)

Marketing 30 43 35 50 40 60 48 100 70 110+

Human Resources 30 41 33 50 38 60 48 90 70 110+

Finance & Accounting 30 41 33 50 38 60 48 90 70 110+

IT 30 43 35 50 40 60 48 100 70 110+

EPC MARKET



1-3 3-5 5-8 8-15 15+


TECHNICAL (BASE)

Country Manager 100 160 120 300+

R&D / EPC, Chemical 38 48 40 58 47 70 58 100 80 150+

R&D / Manufacturing 30 43 37 52 40 57 52 95 75 110

Business Development / Technical Sales µ 30 45 37 52 41 60 50 110 75 130

Project Management µ 30 40 33 50 42 57 52 90 70 110

Purchasing 30 43 37 52 40 60 46 100 75 110

SCM 30 43 37 52 40 60 48 100 75 110

Automation Engineer µ 34 46 38 58 44 67 52 110 80 120

Electrical / Mechanical Engineering 30 43 37 52 40 60 52 100 75 105

Production 30 43 37 52 40 60 52 100 75 120+

Process / Manufacturing 30 43 37 52 40 58 52 90 75 100

Process / Petrochemical, EPC µ 38 48 40 58 47 70 58 100 90 110+

Maintenance / Manufacturing 30 40 33 50 42 57 50 90 70 95

Maintenance / EPC, Petrochemical 30 43 37 52 40 65 52 100 75 110+

Health, Safety and Environment µ 30 43 37 52 40 60 52 100 70 110+

Quality Assurance 30 43 37 52 40 60 52 100 75 110+

Field Service Engineering 30 40 37 50 40 57 52 90 75 110+

EPC MARKET

38

Kate BangConsultant – Automotive

“It’s not so long ago that South Korea’s shipyards have hit a slump. This similar trend could easily follow with the Korean car industry. For example, GM Gunsan plant finally shutdown in May 2018. Therefore, Korean players are investing in new technology to keep market competence. Recruitment in the automotive industry becomes highly competitive in attracting good talents, as many top talents are currently found in other industries like IT, Consumers, FMCG.”

41

With the increased demand in the sophistication of the new cars, the need for technological advancement in the automotive markets becomes critical.

The introduction of Blockchain, an encryption solution, which is largely used for public “ledgers” to secure digital payments, soon going to be introduced to authenticate drivers, cars and car parts, data transmissions, and other parts that would complete the “digital puzzle” within the automotive industry.

Today, there are enough use cases, from the supply chain management tocar-sharing interactions to odometer fraud protection, and both the OEMsand suppliers are already embracing the blockchain technology.

According to news released in Mar. 2018, it announced that Mercedes-Benz has invested in the blockchain technology.

BLOCKCHAIN MAKES AN ENTRANCE INTO THE

Automotive Industry

40

43µ Hot Job | Figures are base salary not including superannuation.42



1-3 3-5 5-8 8-15 15+


TECHNICAL (BASE)

R&D

Director 150+

Engineer 40 45 45 55 55 65 65 85 85+

Quality Control & Assurance

Quality Assurance & Control Engineer 38 40 40 50 50 60 60 85 85+

FUNCTIONAL (BASE)

Sales

Director 150+

Manager 55 75 75 100

Marketing

Director 150+

Manager 55 75 75 100

Human Resources

Human Resources Manager, Director 50 70 70 90 90+

Finance

CFO 150+

Finance Controller 75 100 100+

Finance Manager 70 85

AUTOMOTIVE

Grace JungConsultant – Finance & Banking

“Financial industry recruiters are keen to hire hybrid talents, who have financial knowledge and IT-related experiences.”

45

The domestic and global economic outlook for 2019 is expected not to be as optimistic. In the local financial market, both global and local financial companies intend to grow their businesses by concentrating on their core competencies.

Banking is focusing their market domination through digitalisation. In order to compete with global investment banks, the local investment & securities firms, are trying to concentrate on pre-empting the market through big IB (Investment Banks), and capturing cross-border deals.

Asset management have also shifted their focus to alternative investments, including stocks and bonds. In the investment front, diverse investment institutes are also expanding their business in overseas to alternative investment areas like real estate and infrastructure investments.

The insurance industry introduces new accounting standards to ensure secure financial soundness.

Banking & Finance

44




1-3 3-5 5-8 8-15 15+


FUNCTIONAL (BASE)

Human Resources 30 40 40 55 45 65 65 120 120 250

Finance Controller 80 120 120 250

Finance 30 40 40 55 55 65 65 90

Office 24 35 35 55 40 50 50 80

Executive Personal Assistant 24 35 35 40 40 50 50 85


Sales 40 60 60 75 75 90 90 180 180 400

Marketing 30 40 40 55 55 65 65 120 120 200

BANKING & FINANCE



1-3 3-5 5-8 8-15 15+


TECHNICAL (BASE)

Corporate Relationship 40 60 60 70 70 90 90 150 150 300+

Retail Relationship 40 60 60 70 70 85 85 150 150 300+

Institutional Sales 40 70 50 80 60 90 90 180 180 400+

Legal, AML & Compliance 30 40 40 60 60 80 80 120 120 220

Operational Risk 30 40 40 60 60 85 85 120 120 150

Market Risk 30 40 40 60 60 85 85 120 120 150

Credit Risk 30 40 40 60 60 85 85 120 120 150

Internal Audit 30 40 40 60 60 80 80 110 110 200

Actuary µ 40 55 55 75 75 90 90 135 135 160

Underwriting & Claims 35 40 40 55 55 80 80 100 100 130

BANKING & FINANCE

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SK JungDirector – Staffing

“Because of the increase in minimum wage, salary base for fresh graduate also increases. Fresh graduates now no longer divide the positions in the permanent or temporary ways as in the past. In fact, organisations are considering to change the positions, based on their experiences, qualification levels , skillsets, language capabilities, and other relevant competencies. Temporary hiring is a common practice for candidates to enter global company who do not usually accept fresh graduates as new hires.

Compared to last year, local conglomerates are more opened to fresh graduates hiring. On the other hand, foreign investors in Korea are tightening their headcount because of unclear labour policies and status. However, multinational companies will first employ temporary (staffing) employees and transfer their contract type as permanent employees after probationary period.

Although Korean conglomerates and manufacturing companies are highly impacted by the ‘52 hours work-week’, there is a slight impact on white collar workers like back office and staffing employees. Staffing employees, who are overworked are fully protected by legal, so HR managers will need to ensure they are up-to-date with the labour issues in order not to miss the changing market trend.”

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Transferable Function

48




1-3 3-5 5-8 8-15 15+


FINANCE & ADMINISTRATION (BASE)

Chief Financial Officer 65 80 80 100 100+

Finance Director 60 80 80 95 95+

Finance Controller 40 50 50 80 80 95 95+

Accounting 40 50 50 80 80 95 95+

Tax 40 50 50 80 80 95 95+ 80

Financial Planning & Analyst 40 50 50 80 80 95 95

Internal Audit 40 50 50 70 70 90 90+

Cost Accountant 40 50 50 65 65 80 80+

Treasury / Cash Management Accountant 40 50 50 65 65 80 80+

Office Management 30 35 35 60 60 75 75+

Executive / Personal Assistant 30 35 35 45 45 60 60 80

Administration Officer 25 28 28 40 40 55

Personal Assistant (Contract) 28 32 32 38 38 45

Finance Admin (Contract) µ 26 30 30 35 35 42

TRANSFERABLE FUNCTION



1-3 3-5 5-8 8-15 15+


HUMAN RESOURCES (BASE)

Chief Human Resources Officer 80 100 100+

Vice President, Human Resources 80 95 95+

Human Resources Director 65 80 80 95 95+

Human Resources Business Partner 40 50 50 70 70 75 75+

Human Resources Learning & Development

40 50 50 80 80 95 95+

Human Resources Compensation & Benefits

30 43 43 60 60 70 70 80

Human Resources Talent Acquisition 40 50 50 70 70 80 80+

Human Resources Payroll 30 43 43 60 60 70 70+

Human Resources Officer 35 50 50 70

Human Resources Admin (Contract) µ 27 32 30 38 38 45

Translation Admin (Contract) 26 32 32 38 38 45

Receptionist (Contract) 26 30 30 33 33 35


50




1-3 3-5 5-8 8-15 15+


SALES & MARKETING (BASE)

Sales Manager, Director 40 65 65 80 80+

Marketing Manager, Director 40 65 65 80 80+

Product Management 35 45 45 60 60 70 70+

Brand Management 35 45 45 60 60 70 70+

Marketing Communications 30 45 45 60 60 70 70+

Public Relations 30 45 45 60 60 75 75+

Digital Marketing 35 45 45 60 60 80 80+

e-Commerce Manager 35 45 45 60 60 80 80+

Social Media Marketing 35 45 45 60 60 80 80+

Sales Admin (Contract) µ 25 30 30 34 34 38

Marketing Assistant (Contract) 26 30 30 35 35 40

CS Admin (Contract) 26 30 30 33 33 35

Research Admin (Contract) 26 30 30 35 35 40




1-3 3-5 5-8 8-15 15+


INFORMATION TECHNOLOGY (BASE)

Information Technology 40 60 60 80 80 100 100+

Infrastructure & Design 40 60 60 80 80 100 100+

Customer Service & Help Desk 35 45 45 65 65 70 70+

Database Administrator 25 30 30 45 45 65 65 70 70+

Business Analyst 35 45 45 65 65 70 70+

Project Manager 40 60 60 75 75 90 90

Project Admin (Contract) 24 28 28 30 30 35

IT Admin (Contract) µ 28 32 32 38 38 45

SUPPLY CHAIN MANAGEMENT (BASE)

Operations 30 50 50 70 70 80 80+

Supply Chain 34 55 55 70 70 100 100+

Logistics 35 50 50 70 70 100 100+

Procurement, Purchasing 35 50 50 70 70 100 100+

Direct & Indirect Purchasing 35 50 50 70 70 100 100+

Category, Pruduct Management 35 50 50 70 70 100 100+

Materials Management 35 50 50 70 70 100 100+

Demand Planning 35 50 50 65 65 80 80+

SCM Support (Contract) 28 32 32 38 38 45


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CHINA DESK (CHINA MARKET)

In 2018, the Chinese economy has reportedly expected growth to pick up to 3.4%—the highest since 2010—and labour markets continue to tighten as unemployment decreases. Despite the positive outlook, significant geopolitical and policy risks exist, including potential trade wars between the US and its key partners, volatility on the Korean peninsula, the ongoing Brexit process, and potential unexpected rises in inflation and interest rates. Increased women’s participation in the labour force has wide-ranging economic benefits, and most developed countries have made significant strides in boosting women’s participation in the 21st century—with one notable exception. As labour markets across the globe continue to tighten and recruiting challenges mount, having the right tools becomes essentially important in sourcing,

attracting and connecting with talents. RPO providers also continue to add high-tech enhancements to their offerings, including enhanced analytics capabilities, as well as AI and automation. The hottest buzzword within the industry these days is Artificial Intelligence (AI), a technology that may create as much disruption—or even more. Blockchain, the technology underlying cryptocurrencies such as Bitcoin, has the potential to change the way business is conducted across multiple industries in China. As the automotive industry experiences a fundamental shift toward connectivity and technological advancements, auto manufacturers are becoming increasingly reliant on a high-tech workforce to innovate their products and remain competitive. Additionally, China is experiencing a lack of well-developed, distinct employer brands that offer the professional opportunities, longevity, work environment, and perks that top millennial tech talent seeks. Technology companies have a real advantage in the marketplace, with their experience, longevity, and entrenched brands. OEMs that want to be competitive and retain the talent assets are required to create innovative products, and rethink how they can attract talent and implement critical adaptations to their employer brands to position themselves as a top employer of choice.

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OUTSOURCING TREND

Since the introduction of a 52-hour work week, it has been a hot discussed topic everyday. This change in labour policies has a direct impact on the outsourcing industry since it is technically dealing with a company’s outsourced division and business units. Recently, due to the ever-changing Labour Standards Act and wage-related problems, the demand for “experts” has been on the rise compared to previously.

While we can anticipate a negative effect in the outsourcing business in 2019 due to the change in the government policy, we can also expect a positive outcome with the government’s initiative like the “Logistics Outsourcing Support

Project”. In this initiative, the government aims to support 50% of the consulting expenses if the logistics companies outsource their business to a third-party that the shippers themselves or their subsidiaries have used. Through this, the government also hope to attract companies that desire to enter important logistics markets such as Eurasia and Southeast Asia. This will also increase the opportunities for participation in SMEs and start-up businesses by adjusting participation criteria.

Kelly Services’ Business Process Outsourcing (BPO) is a subset of the outsourcing business, which includes contracting the operations and partially responsible for a particular business process to a third-party service provider. We are also dedicated to ensuring project ownership and accountability for fulfilling a variety of non-core business work streams and tasks on behalf of the organisations.

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Documents

SALARY SURVEY & MARKET OVERVIEW - Kelly Services · 2018-12-04 · Banking & Finance 48 Transferable Function 54 Outsourcing Trend 55 China Market 8 ... The millennial generation