Key survey findings: (Source: 2014 Michael Page Salary & Employment Forecast, Taiwan)48% of surveyed employers believe that current hiring activity is stronger compared to 2013.Company loyalty continues to remain strong in Taiwan with only 38% of the employers expecting staff turnover in the next 12 months. Key reasons employees are likely to leave include opportunities to learn (26%) and better work-life balance (21%).A continued shortage of professional skills across businesses over the next 12 months is expected by 41% of respondents and the majority (67%) indicate the resulting need to develop more targeted attraction strategies.The majority of employers surveyed (76%) indicate that salary increments will be applied company-wide and 70% cite domestic economic conditions as the key factor that will impact salary levels.22 January, 2014: A positive business outlook coupled with increased tourism from China will generate strong recruitment activity in Taiwan, and this is expected to further impact the persisting skills shortage as Taiwanese professionals continue to reside and work outside of Taiwan.According to the 2014 Michael Page Salary & Employment Forecast for Taiwan, almost half (48%) of the employers surveyed are confident that hiring activity in 2014 will be on the upswing as Taiwan benefits from increased tourism activity and buoyant economic conditions. In addition to the retail industry, support service roles and back office functions can also expect to experience increases in recruitment activity.“The rise in tourism activity from Mainland China will continue to drive the retail industry creating a healthy flow of jobs and opportunities for professionals with retail and marketing expertise,” says Mr Chris Preston, Regional Director of Michael Page in Taiwan. “Concurrent to the spike in retail hiring activity, companies will also be looking to develop and bolster the size of their sales teams, creating added activity in the recruitment landscape,” Mr Preston adds.In addition to increased tourism activity from China, the strong flow of hiring activity will be due to the stabilising global economy. With only 38% of surveyed employers expecting staff turnover in the next 12 months, demonstrating a display of strong company loyalty across the Taiwanese workforce, employment opportunities are likely to take the form of new roles rather than replacement roles.Key motivating factors that employers think would drive jobseekers to shop around include opportunities to learn (26%) and better work-life balance (21%), and employers are recognising that an increasing emphasis needs to be placed on effective talent management strategies to attract and retain employees.Employers have also indicated that with the persisting trend of Taiwanese professionals continuing to work outside the country, mainly China, many (41%) are bracing for an extended skills shortage across most professional job types. However, many employers have learnt from the past year and are prepared, with the majority (67%) acknowledging the resulting need to develop more targeted attraction strategies.“Although employee loyalty is predicted to be strong across the Taiwanese workforce in 2014, employers are recognising the increasing need to communicate the potential of international career opportunities when looking to attract and retain professionals,” adds Mr Preston.The top factor for talent attraction and retention as recognised by employers remains remuneration, with more than three quarters (76%) of employers indicating that salary increases could be expected for all their staff. However, 71% will base increases according to performance. Additionally, the top three influencing factors impacting salary levels are domestic economic conditions (70%), global economic conditions (48%) and competition with other companies (46%).The 2014 Michael Page Salary & Employment Forecast, Taiwan has been launched in association with the European Chamber of Commerce Taiwan.
