What will 2017 bring?
Will it be hard for me to find a job?
Do I have the skills that employers are looking for?
These are the most common questions I’ve been asked by clients and candidates already this year.
Despite the challenges that Taiwan — and most of Asia — faced in 2016, due largely to challenging global economic conditions, the good news is there are still several bright spots in Taiwan’s employment market in 2017.
For one, growth in the technology sector, especially in software development and Internet of Things, shows no sign of abating. Driven by current market demands, businesses are now focusing on producing and marketing applications for end users. As a result, candidates with the requisite technical and language skills, like web, mobile, backend and UX development, are in demand in Taiwan.
The healthcare industry will continue to be a progressive area for Taiwan as we are still seeing continued investment from both multinationals and local businesses, encouraged by increasing governmental support. Healthcare professionals, including research and development specialists as well as marketers, are expected to be in demand.
The digital sector will continue to expand this year. However, employers will face the perennial challenge of attracting qualified professionals from a shallow talent pool. Candidates will find that pay packages from international companies will be more attractive compared with local firms that lack strong hiring budgets. To compensate for lower base salaries, local firms might offer other perks, including flexible work arrangements and a clear career progression track.
In terms of market challenges, retail companies are not expected to recruit actively in 2017. Most are likely to adopt a relatively conservative approach to store expansions in 2017, though fast fashion retailers are likely to perform well as customers divert their spending habits from luxury to affordable goods. This trend will bring about the active hiring of frontline staff. Job opportunities in manufacturing will shrink as well, as companies turn to automation to streamline costs, impacting total employment numbers.
Overall, Taiwan has remained resilient despite the numerous challenges within the region. We expect the country to continue with its resiliency, alongside a healthy rate of jobs creation.
Find out more insights to Taiwan’s employment climate with the Michael Page 2017 Taiwan Salary and Employment Outlook, which will be officially launched later this month.