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A positive business outlook coupled with increased tourism from China will generate strong recruitment activity in Taiwan, according to the Michael Page Salary & Employment Forecast 2014 for Taiwan. This is expected to further impact the persisting skills shortage as Taiwanese professionals continue to reside and work outside of Taiwan.
According to the forecast, 48% of the employers are confident that hiring activity in 2014 will rise, as Taiwan benefits from increased tourism activity and buoyant economic conditions. In addition to the retail industry, support service roles and back office functions are also expected to experience increases in recruitment activity.
Chris Preston, Regional Director of Michael Page in Taiwan, commented: “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. 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.”
In addition to increased tourism activity from China, the strong flow of hiring activity will be due to the stabilising global economy. Only 38% of employers expect to experience staff turnover in the next 12 months, demonstrating the strong company loyalty of the Taiwanese workforce. As a result, 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%). Employers are increasingly recognising that a greater emphasis needs to be placed on effective talent management strategies to attract and retain employees.
With the persisting trend of Taiwanese professionals continuing to work abroad, predominately in China, 41% of employers are bracing themselves for an extended skills shortage across most professional job types. However, many employers have learnt from the past year and are prepared, with 67% acknowledging the 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,” Mr Preston added.