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"did you change jobs again?" the job changer was byd. in recent years, automobile manufacturers from china and south korea have entered indonesia. the coo of hyundai motor's local subsidiary left toyota. an executive from a japanese manufacturer said: “some people were offered salaries that were 2 to 3 times what they are now.”…

"have you changed jobs again?" talents from japanese car manufacturers in indonesia have been poached by chinese companies. the place to change jobs is pure electric vehicle (ev) manufacturer byd (byd).

in recent years, chinese automobile manufacturers have poured into indonesia like a tide. byd is continuing to expand its business, including building a factory in west java with an annual output of 150,000 vehicles. for these chinese companies, japanese-funded companies are a "treasury of talent."

toyota and other japanese car manufacturers began to enter the indonesian market in the 1970s. it has occupied more than 90% of the market share in all models and has experienced sales and production talents. japanese manufacturers have gathered the talents that emerging foreign manufacturers are eager to do.

a similar job-hopping phenomenon also occurred around 2022.

the salary is 2 to 3 times what it is now

at that time, south korea's hyundai motor decided to officially enter indonesia and promote the construction of a factory with an annual output of 150,000 vehicles. at this time, some senior executives of japanese manufacturers were poached by hyundai motor, and the benefits were as generous as those of chinese companies. several executives from japanese manufacturers said: "not only for management positions, some people were even offered salaries that were 2 to 3 times what they are now."

hyundai motor will open a factory in indonesia in 2022. indonesian president joko inspected the factory (provided by the presidential palace)

the chief operating officer (coo) of hyundai motor's local subsidiary came from toyota's sales department. after entering the indonesian market, hyundai motor is still promoting local ev production and investing in battery factories. its market share will rise to more than 3% in 2023, ranking sixth. the driving force for business expansion is the recruitment of experienced talents.

deloitte data shows that the biggest risk factor considered by japanese companies in southeast asia and other regions is "brain drain and talent shortage." in 2023, 35% of the surveyed companies gave this answer, an increase of 10 percentage points from 2019.

the loss of management talents also means that the attractiveness of japanese-funded enterprises is declining.

reflects the decline in the attractiveness of japanese companies

"which country's company do you want to work for?" in 2022, japan's persol research institute surveyed popular companies among business people from various countries and regions. in many countries in southeast asia, the proportion of japanese-owned companies that responded has dropped by about 10 percentage points compared with the last survey (2019).

ryotaro inoue, chief researcher at persol research institute, believes: "the background is the sense of isolation caused by the inability of locally recruited talents to be promoted to higher positions, and the salary level is lower than that of other foreign-funded companies."

low wages at japanese companies have also poured cold water on recruitment efforts to work at japanese headquarters. india's performance is particularly remarkable.

a start-up company (in tokyo) that introduces asian it engineers to work for japanese companies pointed out that the salary level of japanese it engineers was once 1.5 to 2 times that of india. an executive of the company said: "now, there is almost no difference in senior management salaries between japan and india. the attractiveness of working in japanese companies has obviously decreased."

if japan cannot attract talents from asia, it may also affect japan's domestic manpower shortage problem. it is estimated that by 2030, the shortage of engineers in japan's it industry will reach a maximum of 790,000.

in the context of japanese companies being at a disadvantage in the competition for talent in asia, if the situation overseas cannot be improved, the channel for trying to make up for japan's labor shortage through overseas talent may be closed.