Employment in Taiwan Gains Optimism in 2021 Driven By Growth in Sustainable Energy

January, 13/2021 - 02:36
Employment in Taiwan Gains Optimism in 2021 Driven By Growth in Sustainable Energy

TAIPEI, TAIWAN - Media OutReach- 13 January 2021 - Professional recruitment services firm Michael Page Taiwan today launchedthe 'Talent Trends 2021 Report', with a keen eye on Taiwan's optimistic talent market. With 89% of professionalsindicating an interest to change jobs and strong demand for talent in thetechnology and sustainable energy industries, healthy hiring activity isanticipated.  

 

Mark Tibbatts, Managing Director of Michael Page Taiwan, says, "Sustainableenergy is earmarked to be the strongest performer, being the largest emergingsector in Taiwan by 2020 and a key link in Taiwan's economic strategy."

 

According to the report, sustainable energy companies are willing tooffer average salary increases of more than 18% for new hires in 2021, thehighest of any industry. 78% of this industry's professionals stated theirinterest in seeking new opportunities in 2021. Mark Tibbatts advises, "As economic activity picks up in Taiwan, companies are likely to competefor high potential experts, which means it is even more important for companiesto stand out from the competition with strong employer branding."

 

Despite an optimisticoutlook, Taiwanese companies must continue to focus on innovation, productdevelopment and supply chain management. "These areas will help companiesfind new revenue streams and get through the recovery with a stronger and morepowerful posture. Moreover, Taiwan's economy still has a strong need for aquality workforce," Mark Tibbatts continues. 

 

As Taiwan's professionalscontinue to seek flexibility and work-life balance, mental health and wellbeingremain at the forefront of job seekers priorities when identifying an employerof choice. 65% of respondents ranked the company's culture above 'possible careergrowth opportunities' (54%) and 'company mission and values aligned with theirs'(53%) when selecting a potential hiring manager.

 

In addition torecruitment insights and industry analysis on the Taiwanese job market, the report also shares new insights across the Asia Pacific market on relatedtopics such as digital readiness, organisational structure, flexible working,leadership, performance management, and diversity and inclusion.


Across the Asia Pacific region, the COVID-19pandemic dealt a major blow to the global economy across all sectors andmarkets in 2020. Job vacancies dropped by 8% to 35% depending on the location.Several businesses reported a conservative approach to their hiring strategy,choosing instead to freeze or even reduce their headcount in order to reducecosts. However the reduced rate of hiring was not an indication that businessesshut out all qualified talent altogether. We saw very positive trends upwardfrom Q2 to Q3, and Q4 versus Q3 2020. Optimism exists in 2021, as 42% ofbusinesses in Asia Pacific said that they are already looking to increaseheadcount in the year.


New ways of working emerged rapidly asemployees adapted to the new normal. The driving force behind the changes wasthe digital transformation which became top priority for all businessesovernight. 68% of companies intend to increase investment in technology anddigital tools in 2021.


As a viable option to bridge skill gapsarising from investment in digital tools and organisation redesign, 20% ofcompanies in Asia Pacific cited prioritising short-term contractors/temporaryemployment in their 2021 hiring strategy. This is an increase from 15% in 2019.


While the boundaries of work-life balancewere debated in 2020, 4 in 5 employees were found to feel equally or moreproductive working from home, only 5% of them prefer to work completelyremotely. This indicates a need for frequent social interaction with co-workers.With this, 51% of organisations evolved their performance evaluations. Toreflect the times of crisis, management teams started reassessing individuals withgreater importance placed on positive behaviours, 64% of companies rated teamcollaboration as the most valued employees attribute during times ofcrisis. 

 

Editor's note: The Michael Page Taiwan Talent Trends 2021 Report features insights andmarket sentiment in Asia Pacific on prominent recruitment and talent-relatedtopics including digital readiness, organisational design, flexible work,leadership, performance management and diversity and inclusion. The resultsdraw from a survey of 12 Asia Pacific markets, with over 5,500 businesses and21,000 employees, of which 3,500-plus are directors or CXOs. 

 

Download the fullMichael Page Taiwan 'Talent Trends 2021 Report' here.

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