Employees expect to see pay raises in Taiwan this year as the global economic climate improves and the labor market tightens, a survey conducted by recruitment consultancy Robert Walters Inc showed late last month.
The survey showed that those who change jobs can expect pay increases of 10 to 20 percent on average, while all salaried workers, whether or not they switch jobs, would see salary increases of 2 to 5 percent on average this year.
Even with 65 percent of professionals actively seeking new employment opportunities, recruiters would have a hard time finding the right people this year because of the scarcity of specific skills, especially expertise in new technologies and niche skill sets, the survey showed.
Photo: CNA
That means Taiwan would continue to struggle with a talent shortage, “leading to a notable increase in cross-industry movements and a heightened demand for candidates returning from overseas,” the consultancy said.
The survey also showed employers more likely to seek individuals with a broader range of skills and experience, rather than focus solely on specialized roles, a statement issued by the European Chamber of Commerce Taiwan said, which co-sponsored the salary survey.
Employees have their own expectations, the survey said, including valuing particular employer attributes such as the importance of “excellent compensation and benefits” (97 percent), “inspiring colleagues and culture” (94 percent) and “flexible working modules” (70 percent).
“To attract top talent, organizations need to ‘sell’ their benefits, flexibility arrangements, career development and support framework to prospective candidates and current employees alike,” Robert Walters Taiwan country manager John Winter said.
Taiwan’s technology job market is dynamically responding to trends in artificial intelligence (AI), high-performance computing and electric vehicles, Robert Walters Taiwan said in a report.
Companies are actively seeking professionals with expertise in server and data center technologies who also have some background in the automotive field, the report said.
About 52 percent of companies that responded to the survey said they intend to explore the use of AI models, which would increase demand for professionals skilled in AI applications, digital tool implementation, data analysis and digital transformation, Winter said. “It reflects the increasing recognition of the potential of AI applications across industries,” he said.
Persistent talent shortages are expected across the technology sector this year, with 66 percent of tech professionals seeking new opportunities and 81 percent of businesses planning pay raises, survey data showed.
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