The renewable energy industry (including biomass, geothermal, hydropower, solar, wind, tidal, and wave) is expected to employ 6.3 million people globally by 2030. Currently wind energy alone employs more than 400,000 people globally and 85,000 in the U.S. In 2008, the U.S. added 35,000 wind energy jobs. The increase in renewable energy employment needs has placed a greater emphasis on attracting, retaining, and engaging key talent.
In order to help companies meet their employment needs, Towers Perrin has released an expanded Renewable/Alternative Energy Compensation Survey. The survey offers data regarding competitive compensation levels and pay program design. Towers Perrin has found that the top ten attraction drivers are:
- Competitive base pay,
- Career advancement opportunities,
- Challenging work,
- Convenient work location,
- Flexible schedule
- Learning and development opportunities,
- Vacation time,
- Reputation of the organization as a good employer,
- Reasonable workload, and
- The Organization’s financial health
Future renewable energy compensation surveys will be conducted in Canada, China, France, Germany, the Netherlands, Spain, the United Kingdom, and the U.S. Participants in the survey receive data regarding competitive compensation levels and pay program design as well as access to biannual Web seminars (which will include industry briefings).