SK Hynix makes changes to retain engineers

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SK Hynix makes changes to retain engineers

SK Hynix will allow outstanding engineers to work beyond the regular retirement age.

Lee Seok-hee, CEO of the chipmaker, announced the plan on Thursday at a meeting with 400 executives and employees held at the company’s Icheon campus in Gyeonggi.

The chipmaker said the new system will enable highly-experienced engineers to keep contributing to the company.

As the semiconductor market continues to grow, securing experts has been key for Korean companies working to maintain leadership in the sector. Chinese companies are keen to source talent from Korea.

“Demand for experienced workers in chip development and manufacturing is continuously increasing,” said Ryu Man-seog, a senior vice president and head of human resources at SK Hynix. “This new system will be applied to workers mandated to retire next year.”

Lee said the company will reform the current employee evaluation system from 2020 to reduce competition between employees and to boost cooperation. According to SK Hynix, other reforms will be undertaken, such as the introduction of assessments on a project basis.

“As the market environment changes, the current system of assessing employees every six months based on goals set at the beginning of the year will be replaced,” the company said in statement.

Detailed guidelines regarding the two proposed plans will be announced later after feedback is received from employees.

From the beginning of next year, all technical engineers and workers at supporting divisions will be referred to as TLs, which means both technical leader and talented leader, so communication between workers of different generations, at various levels in the hierarchy, and between those performing varying roles will improve.

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