Robert Walters Korea has released Digital Salary Survey 2021

Specialist professional recruitment firm Robert Walters Korea announced the launch of its digital Salary Survey 2021.

  • Even amidst Covid-19, scarcity of bilingual talent in Korea persists in some industries. 
  • Employers are advised to focus on cultivating strong employer branding and stress clear career development plan to attract and retain top talent.

Specialist professional recruitment firm Robert Walters Korea announced the launch of its digital Salary Survey 2021, which summarizes hiring trends and salaries for thousands of roles in around 31 countries including Korea. 

New Digital edition aimed at professional job seekers; Salary information broken down by location, industry and experience level

The new digital Salary Survey is packed with helpful tools and resources for hiring managers and job seekers alike, including the latest trends and analysis for all industries, as well as video updates on market conditions from Robert Walters experts.  

“For professionals, finding out what you’re worth in the job market can be a minefield, but our new Salary Survey makes it easy. For employers and hiring managers, exploring how to attract and retain the best talent with the right offerings is conceivable by navigating our Salary Survey platform,” said JunWon Choi, Country Manager at Robert Walters Korea.

"It also provides a comprehensive and accurate overview for employers looking to benchmark salaries against the rest of the market as the platform allows users to navigate data from other countries, cities and sectors,” he added.

Continued shortage of highly skilled bilingual talent in some industries in Korea even amidst Covid-19

The year 2020 was challenging yet transformative for businesses in Korea given the impact of Covid-19. Although hiring in some industries initially slowed down, others such as pharmaceutical, technology and e-commerce have been active, and this trend is expected to continue in 2021. 

With many people opting to stay home because of the pandemic, online services and digital technology have seen substantial increase in usage. A rise in remote working and schooling has led to a sharp growth of the contents industry such as streaming and social network services, entertainment, gaming and OTT video platforms, which results in increasing demand for professionals with online digital skills and both front and back-end developers. In relation, e-learning, medical technology, food delivery services, and some other areas in mobile applications industry showed steady hiring across the country and we expect this to continue in 2021. 

The hiring market in Korea was predominantly influenced by work style reform and digital transformation across many industries. In finance sector, professionals who have Data analysis skills to keep pace with digital transformation will be in high demand as many companies undergo finance transformation processes to optimize efficiency. The role of HR professionals is also transforming rapidly along with technology advances with AI and big data, leading a change of the HR roles.

Even before Covid-19, online shopping was a growing trend due to the rise in single-person and double-income households, but this grew even further during the crisis. The unparalleled growth of e-commerce businesses has resulted in a significant increase in recruitment for e-commerce channel specialists along with digital marketing specialists. An even more prominent trend can be found in the continuing demand for talent who can drive change and bridge communication between business users and technical teams as more companies undergo digital transformation processes. 

Some level of Workplace Flexibility is expected in 2021

As the pandemic has accelerated the widespread adoption of flexible working styles such as telework or sliding hours, most professionals want work style flexibility to become standard practice in post Covid-19 era, therefore, flexibility will be increasingly important when attracting and retaining talent. 

With the rapid adaption of remote working, technological advances no longer allow companies to ignore flexibility. As professionals prioritize autonomy, flexibility and agility will be critical for companies to successfully attract and retain talent. Additionally, Investment in technology that enables remote interviews and onboarding to streamline the overall interview process will be a key to secure top talent with specialist skill sets. 

67% of professionals are looking for a new job in 2021

Key findings of Salary Survey 2021 show that 67% of professionals are open to new opportunities in 2021 and 34% feel confident about job opportunities in their sector, tech professionals being the most optimistic, with 67% expressing confidence in opportunities, which indicates that professionals are becoming more confident in their own demand and market value. On the other hand, about 20% of professionals are not considering a job change at all, implying that more professionals are seeking job stability than compared to pre-Covid-19.

When professionals were asked what they valued most in an employer, the most popular response was having ‘colleagues and a work culture that inspire employees to do their best’. As the experience of working from home has reminded people of the importance of connecting and collaborating with their colleagues, ‘inspiring team and culture’ turned out to be enormously essential in Covid-19 era. ‘job security’ ranked second followed by the ‘excellent compensation and benefits’. This result aligns with previous finding that more professionals are focusing on stability in their lives in the current situation.

Thus, when contemplating for attracting and retaining ‘top’ talent, wellbeing strategies will continue to be a major priority for employers, with ‘job security’ and ‘good work-life balance’ ranked top of the list of what is valued most in employers by professionals. As Implementation of remote work is becoming more viable option in many sectors and positions for the coming year, companies are required to evolve their employee wellbeing strategies to ensure maximum job satisfaction when working outside the usual office environment.

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