The local job market is expected to remain short of highly qualified candidates this year, despite the nation facing economic uncertainties linked to waning export demand, a looming recession and geopolitical tensions, an annual report by professional recruitment consultancy Robert Walters showed.
“This year will be a challenging time for recruiting the right talent amid economic uncertainties,” although companies are continuing efforts to build sustainable workforces, the report said.
Companies in the technology, e-commerce, healthcare and logistics sectors are competing fiercely for top talent, and have been offering salary increments of up to 25 percent, it said.
Average salary increments vary across industries and skills, but normally range from about 10 to 15 percent, it added.
Global widespread skill shortages are forcing companies to scramble to fill vacancies that require niche skills in new technology, with professionals expecting 25 percent more pay for their talent, the report said.
The US tech industry has encountered massive layoffs due to a dim economic outlook and a cryptocurrency market slump, the report said, adding that Taiwan’s technology sector is also entering a cyclical downturn due to soft end-market demand and a lingering inventory glut, it said.
However, given that Taiwan leads globally in semiconductor manufacturing technologies, and foreign tech companies are prioritizing investment in Taiwan, strong demand remains for skilled talent in areas such as vehicle applications, cloud-enterprise servers and 5G communications, the report said.
Top skills in demand include software development, cybersecurity, analogue design, digital design and design verification, it said.
As a result, 78 percent of software, semiconductor and IT professionals, along with 65 percent of electrical product and industrial professionals, are expecting pay raises this year, it said.
Skilled talent is expected to become increasingly scarce, especially software engineers, the report said, adding that 85 percent of employers are concerned about a skills shortage in their field.
Robert Walters in its report advises companies to select candidates based on their practical skills and qualifications, rather than on their work history or education.
Furthermore, 60 percent of employers surveyed by the consultancy said they have faced challenges of not being able to meet salary expectations during the interview process, and 59 percent experienced competition from rival company counteroffers, the report said.
TECH TITANS: Amazon’s latest chip joins Google in competing for the 90 percent market share held by Nvidia, which claims it is ‘a generation ahead of the industry’ Amazon Web Services (AWS) on Tuesday launched its in-house-built Trainium3 artificial intelligence (AI) chip, marking a significant push to compete with Nvidia Corp in the lucrative market for AI computing power. The move intensifies competition in the AI chip market, where Nvidia dominates with an estimated 80 to 90 percent market share for products used in training large language models that power the likes of ChatGPT. Google last week caused tremors in the industry when it was reported that Facebook-parent Meta Platforms Inc would employ Google AI chips in data centers, signaling new competition for Nvidia. This followed the release last month of
INSULATED: The company said it is less exposed to global complications, as it has built a strong footprint worldwide, and has multiple sources of rare earths and raw minerals Merck Group yesterday said it would ramp up production next year at its new flagship facility in Kaohsiung’s Lujhu District (路竹) to satisfy growing demand for advanced semiconductor materials and specialty gases, and to address supply resilience issues amid mounting geopolitical risks. Merck made the remarks during a news conference before the inauguration of its 500 million euros (US$582.1 million) facility, which is also to supply other markets in the Asia-Pacific region, it said. Merck executive board deputy chair and electronics CEO Kai Beckmann told reporters the company adopted a “local-for-local” strategy about seven years ago to address the cycle time of
Two companies wholly owned by the daughter of the founder of Hon Hai Precision Industry Co (鴻海精密) on Monday reported to the Taiwan Stock Exchange that they would dispose of all of the Hon Hai shares they hold. In filings with the exchange, Hong Wei Investment Co (鋐維) said it would sell the 2.771 million Hon Hai shares it holds and Frontier Investment Corp (承鋒投資) said it would sell its 2.409 million Hon Hai shares from tomorrow until Jan. 3 next year. The two companies are wholly owned and chaired by Shirley Gou (郭曉玲), the eldest daughter of Hon Hai founder Terry
RIDING THE WAVE: The race to build AI infrastructure has lifted the valuations of top memory makers, such as Micron, amid dwindling inventories and supply challenges Micron Technology Inc is to spend ￥1.5 trillion (US$9.6 billion) to build a plant in western Japan to make memory chips for artificial intelligence (AI) applications, the Nikkei reported on Saturday. The move comes as Micron seeks to diversify advanced chip production outside of Taiwan, the Nikkei article said, citing people familiar with the matter. The new factory will manufacture high-bandwidth memory (HBM) chips, a key component for working with AI processors such as those made by Nvidia Corp, the report said. Micron would build the facility within the compound of its Hiroshima plant, starting in May next year, with plans to launch
RSS