Taipei, 07 February 2017: Despite uncertainty and challenging trading conditions in global and regional markets, the fast-expanding healthcare, technology and digital sectors will continue to drive hiring growth in Taiwan, according to findings from the latest Michael Page 2017 Taiwan Salary and Employment Outlook.
Strong growth in the technology and digital sectors is the result of continued investment in e-commerce, software development and mobile technology across the region. The semiconductor industry is also expected to remain the driving force behind Taiwan’s vital electronics sector.
Following the government’s push to attract investment in the healthcare sector, professionals will see increased opportunities across a range of functions. Finance, human resources, marketing, procurement, supply chain and sales professionals will be in demand to support robust growth within the healthcare industry.
Andy Bentote, senior managing director of Greater China, Michael Page, anticipates talent shortage to be felt largely within the digital and technology sectors.
“The entrance of more start-ups in both e-commerce and software development require a number of niche technical skills. Taiwan’s existing candidate pool is currently unable to fulfil these demands due to the sheer amount of roles required. International firms have a slight advantage in securing hires as they typically offer more attractive pay packages. Local companies lack the strong hiring budget, however they are increasingly focussed on flexible work arrangements and clear career progression paths to compete for top talent.”
46% of employers in Taiwan surveyed are expected to recruit new hires, of which 58% say their organisations are actively seeking mid-level employees.
Other key findings from the Michael Page 2017 Taiwan Salary and Employment Outlook state that while most employers in Taiwan (70%) are likely to provide modest salary increases of 1 to 5% this year, companies are turning to non-financial initiatives to attract and retain talent. Creating clear career progression paths was cited by almost three quarters (73%) of companies who took part in the survey as the top talent retention strategy in Taiwan.
Another employment trend gaining traction is the increasing support for diversity and inclusion (D&I) policies among organisations. More than 98% of those surveyed are committed to diversity in the workplace with more than half (51%) citing gender diversity as the key focus of their initiatives.
Editor’s notes: The Michael Page 2017 Asia Salary and Employment Outlook covers market insights, recruitment trends in Asia. This includes Singapore, Malaysia, Indonesia, Thailand, Hong Kong, China and Taiwan. The report incorporates the views of over 3,400 employer survey respondents in addition to feedback from corporate human resources directors across different industries in Asia and business experts' insights from the Michael Page leadership team.