More than 70 percent of the bilingual professionals in Japan say they would require pay raise of at least 10 percent when changing jobs. On the other hand, it was learned that less than 20 percent of companies had hiked pay to respond to the shortage of talent.
These findings are according to recently released white paper by Robert Walters Japan, titled “Recruiting Professionals in a Candidate Short Market.” This paper was compiled from results of a survey conducted by the company in June on 180 HR managers at companies in Japan and South Korea and 1,484 bilingual professionals with specialised skills.
Many of the companies say that in lieu of paying higher salaries, they tried to cope with the shortage of talent over the past year through employee training, reshuffling work duties among their offices or instituting transfers from overseas offices. In addition, nearly half the companies loosened their hiring requirements.
More than 80 percent of the HR managers say they feel it is difficult recruiting suitably qualified professionals. The survey also revealed the effects of the shortage on businesses. These include lower productivity (cited by 38 percent of respondents), failing to meet deadlines/struggling to address client companies’ expectations (32 percent) and reduced morale among employees (16 percent).
See: Japan’s Talent Mismatch Ranks the Most Severe in Asia Pacific
Drawing comparison between Japan and South Korea, bilingual talent market, the survey finds:
Nevertheless, one in five of the personnel managers had no plans to consider measures to address talent shortage in the future. Therefore, they are required to accurately grasp the hopes and desires of the human resources they want to hire while adopting a flexible stance in their recruitment activities.
Also read: Japanese wages post 0.6% rise, steepest in a decade