January 2024 Company Restructuring Plan: In response to challenging industry conditions, SolarEdge implemented a restructuring plan that encompassed various measures. These included reducing manufacturing capacity and enhancing operating efficiency. Additionally, the Company announced an involuntary workforce reduction in January 2024, resulting in a reduction of approximately 16% of its workforce during the first half of 2024. These decisions were made to better align the Company with current market conditions.
SolarEdge undertook the following steps to assist employees who were let go:
An HR taskforce made significant strides to find new roles within the company for talented employees whose position became redundant in the current state of business
In Israel, affected employees were offered with an outplacement service proposing support and guidance to help them successfully transition to the next stage of their career.
In addition, the affected employees in Israel were offered subsidized mental health services- provided for those seeking it by external expert providers.
The SolarEdge HR team has maintained contact with several companies and actively helped to connect them with redundant employees who could fit their recruiting needs.
Talent pipeline development strategy: We take positive measures to prepare for additional recruiting needs in the upcoming years. These workforce needs are determined based both on the multi-year business plans of the company, and on the annual manpower needs review process conducted with all company departments as part of our annual budget planning. Our recruitment department uses both internal resources and external services to continuously develop a pool of potential candidates (both from within the company and externally) with relevant skills and experience that complement our current and future needs. This pool is continuously adjusted by the changing identified recruitment needs. Our internal mobility and student hiring programs (detailed below) also help us to meet our updated talent requirements. Students hired by SolarEdge receive company-specific role training making them relevant candidates for full-time positions at SolarEdge upon graduation.
In addition, in 2023, we started an internship plan for engineering students at Shenkar College, in Israel. Through this internship, the students were provided ad-hoc training for the role of operation planners, with emphasis on the specific business activities of SolarEdge. One of the plan’s goals is to create a qualified talent pool for this role. Some of these students have subsequently become full-time company employees.
Succession planning: In recent years, we’ve rolled out a formal talent pipeline development strategy specifically targeting senior roles across all divisions, aiming to:
Identify individuals with potential to fill key business leadership positions.
Map organizational gaps, forecast hiring needs, actively develop new pools of talent.
Build customized personal plans to provide critical development experiences to those who can move into key roles.
Establish succession planning as a regular business practice at SolarEdge.
Moving forward, we aim to continue defining and implementing actions to create a robust leadership pipeline for SolarEdge.
Join the SolarEdge Conversation
Contact our sustainability / ESG team
Contact us
How can we help you?
at the end of 2023,
5,633
an increase of 14% from the previous year.
The Company’s global workforce numbered
To date, tailored career plans have been developed for the entire service and IT departments and the majority of R&D department employees. Roles with an established career path account for 27% of the total SolarEdge global workforce.
Career Path Mapping: In recent years, we have developed specific career path frameworks to support the professional and managerial development of our global service and IT departments, and most employees in our global R&D department (including Hardware, Software, Embedded, Mechanics and additional sub-departments). We identified the need to create clarity about career paths and enable managers and employees to effectively plan personal development, while also supporting the retention and engagement of our employees at a local and global level. As part of this process, development opportunities are defined for main roles, by defining the skills and experience needed to advance in a technical or a management capacity (or those needed to switch between these paths). The internal transparency regarding the skills and experience needed for each role expands the options for internal mobility, as employees have better clarity regarding potential new roles and their related requirements. The career path mapping process also assists with managing our talent pipeline and management reserve development, with more potential future internal candidates developing specific skills required to fill-in future company workforce needs. Another goal of the career path process is to enhance the professionalism, progress, and success of our different departments, by promoting a culture of learning and knowledge development within the organization.
Annual Performance Reviews: Our performance management process is designed to align employees' goals to the Company objectives, drive excellence and employee development. At the beginning of each year, annual personal goals are set for each employee, taking into account the business objectives of the specific Company department and team, overall company focus areas, and personal development targets. As part of the annual performance review process, our employees receive feedback from their managers (both direct and matrix managers), examine the extent to which their personal targets have been met, and can plan their next career moves and professional development. In 2023, 92% of SolarEdge’s global employees received formal performance reviews. This included all eligible employees[1]. In addition to the annual process, the Company encourages a continuous open dialogue throughout the entire year, to help meet the same targets.
Onboarding: Our onboarding practices aim to better familiarize our new employees with SolarEdge’s business, values, and culture. New employees are assigned to an onboarding program by their direct managers, tailored specifically for their roles, including necessary professional training and introductory meetings with main internal colleagues. In most cases, new employees are also assigned a ‘buddy’ who is a more veteran employee already familiar with the Company, to help with the first steps of the SolarEdge career.
We periodically conduct regional orientation days. The orientation process includes panels with Company executives (frontal or via web). The participating executives detail the Company’s history, operations, and business objectives. Employee questions and suggestions are encouraged and addressed by the participating executives.
Internal mobility: Our Internal Mobility program is designed to encourage internal recruitment and provide exciting career and personal development opportunities to our expanding workforce. Current SolarEdge employees can apply to any open position, assuming they have been with the Company for at least two years and are performing satisfactorily in their current role. In 2023, over 440 positions were filled by internal candidates, representing 23% of our open positions filled during the year. Over 330 of these career transitions represented promotions to roles of greater responsibility.
Hiring students: We encourage students to work part-time at SolarEdge while they continue their studies to prepare them for potentially joining the company upon completion of their degree. At any given time, there are around 50 students in these specially tailored roles. In 2023, a total of 26 student employees that graduated throughout the year were subsequently promoted to full-time SolarEdge employees.
EMEA 72%
APAC 21%
Americas 7%
Employees
by region, 2023
Employees
by year
5,633
2023
4,926
2022
4,000
2021
We continue to seek the best ways to encourage, engage and empower our employees to support our business objectives. We provide opportunities for personal development and support for professional advancement. Similarly, we invest in the well-being and safety of our employees so that they can be at their personal best, every day.
We rely on the success of our recruitment efforts to attract and retain technically skilled people who can support our ongoing innovation and expansion. We aim to be inclusive in our hiring practices, focusing on the best talent for each role and welcoming all genders, nationalities, ethnicities, abilities and other dimensions of diversity.
Candidate Referrals from employees already working in SolarEdge are commonly used by our recruitment department, with many existing employees recommending the company as a favorable place of work to their friends and peers.
To support our business needs and global workforce, which has significantly increased in recent years, we have invested in our human resources infrastructure, including recruitment, onboarding, development and engagement processes while continuing to reinforce our entrepreneurial spirit and values-based culture.
Our success depends on our ability to attract, retain and engage outstanding employees at all levels of our business.
Sustainability Report 2023 /
Recruitment, Retention & Talent Pipeline
Join the SolarEdge Conversation
Contact our sustainability / ESG team
Contact us
How can we help you?
[1]
The remaining 8% of the employees included those recruited shortly before the end of 2023, and employees temporarily absent due to parental leave or other circumstances.
To date, tailored career plans have been developed for the entire service and IT departments and the majority of R&D department employees. Roles with an established career path account for 27% of the total SolarEdge global workforce.
Career Path Mapping: In recent years, we have developed specific career path frameworks to support the professional and managerial development of our global service and IT departments, and most employees in our global R&D department (including Hardware, Software, Embedded, Mechanics and additional sub-departments). We identified the need to create clarity about career paths and enable managers and employees to effectively plan personal development, while also supporting the retention and engagement of our employees at a local and global level. As part of this process, development opportunities are defined for main roles, by defining the skills and experience needed to advance in a technical or a management capacity (or those needed to switch between these paths). The internal transparency regarding the skills and experience needed for each role expands the options for internal mobility, as employees have better clarity regarding potential new roles and their related requirements. The career path mapping process also assists with managing our talent pipeline and management reserve development, with more potential future internal candidates developing specific skills required to fill-in future company workforce needs. Another goal of the career path process is to enhance the professionalism, progress, and success of our different departments, by promoting a culture of learning and knowledge development within the organization.
Annual Performance Reviews: Our performance management process is designed to align employees' goals to the Company objectives, drive excellence and employee development. At the beginning of each year, annual personal goals are set for each employee, taking into account the business objectives of the specific Company department and team, overall company focus areas, and personal development targets. As part of the annual performance review process, our employees receive feedback from their managers (both direct and matrix managers), examine the extent to which their personal targets have been met, and can plan their next career moves and professional development. In 2023, 92% of SolarEdge’s global employees received formal performance reviews. This included all eligible employees[1]. In addition to the annual process, the Company encourages a continuous open dialogue throughout the entire year, to help meet the same targets.
Onboarding: Our onboarding practices aim to better familiarize our new employees with SolarEdge’s business, values, and culture. New employees are assigned to an onboarding program by their direct managers, tailored specifically for their roles, including necessary professional training and introductory meetings with main internal colleagues. In most cases, new employees are also assigned a ‘buddy’ who is a more veteran employee already familiar with the Company, to help with the first steps of the SolarEdge career.
We periodically conduct regional orientation days. The orientation process includes panels with Company executives (frontal or via web). The participating executives detail the Company’s history, operations, and business objectives. Employee questions and suggestions are encouraged and addressed by the participating executives.
An HR taskforce made significant strides to find new roles within the company for talented employees whose position became redundant in the current state of business
In Israel, affected employees were offered with an outplacement service proposing support and guidance to help them successfully transition to the next stage of their career.
In addition, the affected employees in Israel were offered subsidized mental health services- provided for those seeking it by external expert providers.
The SolarEdge HR team has maintained contact with several companies and actively helped to connect them with redundant employees who could fit their recruiting needs.
January 2024 Company Restructuring Plan: In response to challenging industry conditions, SolarEdge implemented a restructuring plan that encompassed various measures. These included reducing manufacturing capacity and enhancing operating efficiency. Additionally, the Company announced an involuntary workforce reduction in January 2024, resulting in a reduction of approximately 16% of its workforce during the first half of 2024. These decisions were made to better align the Company with current market conditions.
SolarEdge undertook the following steps to assist employees who were let go:
Talent pipeline development strategy: We take positive measures to prepare for additional recruiting needs in the upcoming years. These workforce needs are determined based both on the multi-year business plans of the company, and on the annual manpower needs review process conducted with all company departments as part of our annual budget planning. Our recruitment department uses both internal resources and external services to continuously develop a pool of potential candidates (both from within the company and externally) with relevant skills and experience that complement our current and future needs. This pool is continuously adjusted by the changing identified recruitment needs. Our internal mobility and student hiring programs (detailed below) also help us to meet our updated talent requirements. Students hired by SolarEdge receive company-specific role training making them relevant candidates for full-time positions at SolarEdge upon graduation.
In addition, in 2023, we started an internship plan for engineering students at Shenkar College, in Israel. Through this internship, the students were provided ad-hoc training for the role of operation planners, with emphasis on the specific business activities of SolarEdge. One of the plan’s goals is to create a qualified talent pool for this role. Some of these students have subsequently become full-time company employees.
Identify individuals with potential to fill key business leadership positions.
Map organizational gaps, forecast hiring needs, actively develop new pools of talent.
Build customized personal plans to provide critical development experiences to those who can move into key roles.
Establish succession planning as a regular business practice at SolarEdge.
Moving forward, we aim to continue defining and implementing actions to create a robust leadership pipeline for SolarEdge.
Succession planning: In recent years, we’ve rolled out a formal talent pipeline development strategy specifically targeting senior roles across all divisions, aiming to:
at the end of 2023,
5,633
an increase of 14% from the previous year.
The Company’s global workforce numbered
Internal mobility: Our Internal Mobility program is designed to encourage internal recruitment and provide exciting career and personal development opportunities to our expanding workforce. Current SolarEdge employees can apply to any open position, assuming they have been with the Company for at least two years and are performing satisfactorily in their current role. In 2023, over 440 positions were filled by internal candidates, representing 23% of our open positions filled during the year. Over 330 of these career transitions represented promotions to roles of greater responsibility.
Hiring students: We encourage students to work part-time at SolarEdge while they continue their studies to prepare them for potentially joining the company upon completion of their degree. At any given time, there are around 50 students in these specially tailored roles. In 2023, a total of 26 student employees that graduated throughout the year were subsequently promoted to full-time SolarEdge employees.
We continue to seek the best ways to encourage, engage and empower our employees to support our business objectives. We provide opportunities for personal development and support for professional advancement. Similarly, we invest in the well-being and safety of our employees so that they can be at their personal best, every day.
We rely on the success of our recruitment efforts to attract and retain technically skilled people who can support our ongoing innovation and expansion. We aim to be inclusive in our hiring practices, focusing on the best talent for each role and welcoming all genders, nationalities, ethnicities, abilities and other dimensions of diversity.
Candidate Referrals from employees already working in SolarEdge are commonly used by our recruitment department, with many existing employees recommending the company as a favorable place of work to their friends and peers.
To support our business needs and global workforce, which has significantly increased in recent years, we have invested in our human resources infrastructure, including recruitment, onboarding, development and engagement processes while continuing to reinforce our entrepreneurial spirit and values-based culture.
Our success depends on our ability to attract, retain and engage outstanding employees at all levels of our business.
Recruitment, Retention & Talent Pipeline
Sustainability Report 2023 /