A positive business outlook coupled with increased tourism from China will strengthen recruitment activity in Taiwan and deepen the skills shortage as many Taiwanese professionals live and work overseas, according to the Michael Page Salary & Employment Forecast, conducted in cooperation with the European Chamber of Commerce.
Almost half of the employers surveyed are confident that hiring activity will be on the upswing this year, as Taiwan benefits from increased tourism activity and buoyant economic conditions, the annual survey found.
“The rise in tourism activity from China will continue to drive the retail industry, creating a healthy flow of jobs and opportunities for professionals with retail and marketing expertise,” Michael Page Taiwan director Chris Preston said at a media briefing.
In addition to the retail industry, support service roles and back office functions can also expect to experience increases in recruitment activity, Preston said.
Concurrent to the spike in retail hiring activity, companies will also be looking to develop and bolster the size of sales teams, creating added activity in the recruitment landscape, he added.
Stronger cross-strait tourism aside, the stabilizing global economy also bodes well to hiring activity, Preston said.
Only 38 percent of employers expect staff turnover in the next 12 months, reflecting strong company loyalty across the workforce, the survey found, adding that employment opportunities are likely to take the form of new roles rather than replacement roles.
About 41 percent of employers are bracing for an extended skills shortage across professional job types with Taiwanese professionals working overseas, mainly in China, the survey said.
To address the shortage, 67 percent of employers acknowledge the need to develop more strategies to attract staff, the survey indicated.
“Employers are recognizing the need to communicate the potential of international career opportunities when looking to attract and retain professionals,” Preston said.
The top factor for talent attraction and retention remains remuneration, with more than three-quarters, or 76 percent, of employers indicating that salary increases could be expected for the whole of their staff, the survey said.
However, 71 percent of employers will base increases on performance, the survey said.
Other factors having an impact on salary levels are domestic and global economic conditions and competition with other companies, the survey said.
Key motivating factors that employers think would drive jobseekers include opportunities to learn and better work-life balance, among other things, the survey said.