Key survey findings:(Source: 2013 Michael Page Salary & Employment Forecast, Taiwan)69% of surveyed employers cite professionals are likely to leave Taiwan to work in another Asian region during 2013, with most (67%) identifying China as the main destination for expats.The majority of respondents (58%) believe a skills shortage is likely in their sector over the next 12 months and more than half (55%) indicate this will result in the development of more targeted attraction strategies.The skills shortage will cause salaries to rise above inflation according to most employers surveyed (44%), while 80% of respondents indicate salary increases over 2013 will be based on performance.22 January 2013: The continued migration of Taiwanese professionals to other Asian regions will add to an existing skills shortage in the local recruitment market over 2013 and prompt employers to place an increased focus on talent attraction and retention strategies.Based on the findings of the 2013 Michael Page Salary & Employment Forecast for Taiwan, most employers surveyed (69%) anticipate their employees will look for career opportunities in other Asian regions and relocate for work during 2013. While Hong Kong and Singapore remain popular locations, the majority of survey respondents (67%) identify China as the preferred destination for departing Taiwanese professionals.This mobility of Taiwan’s workforce is likely to make the region’s existing professional skills shortage more pronounced and 58% of survey respondents report that they are expecting a skills shortage over the next 12 months. The shortage of professional talent across all sectors and at all levels will present challenges for employers, particularly if economic conditions start to improve during 2013. Some 55% of surveyed employers indicate the skills shortage will result in the development of more targeted attraction strategies to attract and retain staff.“The major challenge for employers in Taiwan continues to be working to ensure they have the best employees with the right skills for their business. Employers will therefore be placing an enhanced focus on talent attraction strategies with the view to create more targeted offerings to entice employees to join their company,” says Mr Chris Preston, Director of Michael Page in Taiwan. Talent attraction strategies likely to be implemented include non-financial incentives such as career development opportunities and work-life balance options, however financial reward remains important. As more local professionals relocate to other Asian areas including Mainland China, talent attraction becomes even more of a focus,” Mr Preston adds.Structured career progression was rated by the highest percentage of surveyed employers (36%) as an important attraction and retention strategy, followed by 23% choosing recognition and rewards. Promoting a strong company culture and providing work-life balance options are other non-financial talent attraction and retention strategies employers are likely to make use of.Taiwan’s professional skills shortage will place pressure on salary levels, with 44% of employers surveyed believing that salaries will rise above the inflation rate. The majority of respondents (80%) will base salary increases during 2013 on performance, with most (41%) likely to award an average increase in the range of 3 to 4%.“Given salary levels in Taiwan are on average lower than some other Asian regions, a general rise in remuneration offered by employers in Taiwan over 2013 would assist with talent attraction and retention. It may even go some way towards encouraging local professionals to stay in Taiwan and expats to return home,” says Mr Preston.The 2013 Michael Page Salary & Employment Forecast, Taiwan has been launched in association with the European Chamber of Commerce Taiwan.
