Taiwan to see ‘steady or strong hiring’ in 2016: report
TAIPEI (The China Post/ANN) - Michael Page, a leading recruitment firm, on Thursday forecast that Taiwan would see “steady or strong hiring” in 2016.
Michael Page, a leading recruitment firm, on Thursday forecast that Taiwan would see “steady or strong hiring” in 2016.
The UK-based firm yesterday released its salary and employment outlook for Taiwan, Hong Kong and mainland China yesterday at an event hosted by the European Chamber of Commerce Taiwan (ECCT).
Andy Bentote, senior managing director of Michael Page, said 64 per cent of Taiwanese employers expected hiring activity to be either steady or strong this year.
About 81 per cent of surveyed employers expect headcount to remain the same or increase over the next 12 months, according to the report.
The firm found that sectors most likely to see growth this year are digital; healthcare and pharmaceutical; and technology.
Growth in the technology sector is likely to be propelled by emerging areas like mobile applications and cloud computing, rather than established industries like semiconductors and computer hardware, Bentote said.
Taiwan’s best average salary and benefits packages this year are likely to be offered by the tobacco and healthcare industries, according to the report.
Industries expected to stay static this year are luxury retail, fast-moving consumer goods and financial services.
Prospects Fair for Small Raise
The firm found that prospects for a raise were good in Taiwan, but that the raise was for modest amounts of less than 5 per cent.
About 83 per cent of employers said they expected to raise salaries by less than 5 percent in the next 12 months, compared to a 68 percent average for mainland China and Hong Kong.
In mainland China, nearly 50 percent of employers said they planned to raise salaries by 6 to 10 per cent in the next 12 months.
But prospects for a bonus this year were higher in Taiwan, with 71 per cent of employers expecting to give up to 10 per cent of annual salaries as bonus.
Only 69 per cent of employees in Hong Kong and mainland China expected similar payouts.
Survey responses for the 2016 report were collected online from over 1,000 employers in Taiwan, Hong Kong and mainland China in December 2015, as well as from a series of roundtables held with employers across the region.
According to the report, Taiwanese employers were beginning to put more emphasis on workplace flexibility as a retention tool.
Some 65 per cent of employers say flexible working arrangements are in place at their companies, according to the report.
“More employees are now valuing workplace flexibility and work-life balance, especially since the government implemented a universal 40-hour workweek across the nation,” Michael Page Director Andrew Wright said in a statement released yesterday.
“We expect to see a continuous increase in employers focusing on workplace flexibility initiatives - the likes of working from home and flexi-hours - in their retention strategies.”