We opened a branch office in Seoul, Mapo-gu, in September 2024, with hopes of helping both Korea-based companies and Korea branch operations of multinational companies with rewards challenges.
Some challenges are universal, and some are specific to Korea.
Universal challenges include:
- maximizing value for the compensation & benefits expenditure
- attraction and retention of talent
- global mobility – enabling movement of talent across borders
- job architecture, career pathways, pay grades, promotion
- benchmarking, salary ranges, market analysis
- annual salary review
- incentive design
- rewards strategy/philosophy
- linking pay to performance, skills, productivity and other business metrics.
Specific Korean challenges include:
- respond to shrinking talent pools and attraction/retention challenges
- aligning local job level practices (사원, 대리, etc.) with global practices
- attracting and retaining foreign talent in or out of Korea
- remote work challenge for offshore Korean talent, to supplement local Korean talent
- language policy and learning support for both Korean and foreign talent
- global rewards support for business growth
- Response to geo-political shifts
Contact our Branch Manager, Frank Lee (이성웅) at +82 (0)10 4931 5247 or frank@freelancetotalrewards.com.
