Taipei, Jan. 25 (CNA) The results of a salary survey conducted by a professional recruitment consultancy indicates that employees in Taiwan should be able to see gains in pay in 2024 as the global economic climate improves and the labor market tightens.
Taiwan's job market will see a gradual recovery in 2024 from the challenges it faced in 2023 due to a "global recession," according to the digital Robert Walters Salary Survey 2024, conducted by professional recruitment consultancy Robert Walters.
The survey found that those who change jobs can expect increases in pay of 10-20 percent on average, while all salaried workers, whether or not they switch jobs, should see salary increases of 2-5 percent on average during 2024.
Even with 65 percent of professionals actively seeking new employment opportunities, recruiters will have a hard time finding the right people in 2024 because of the scarcity of specific skills, especially expertise in new technologies and niche skill sets, the survey found.
That means Taiwan will continue to struggle with a talent shortage in 2024, "leading to a notable increase in cross-industry movements and a heightened demand for candidates returning from overseas."
The survey also found employers more likely to seek individuals with a broader range of skills and experience, rather than focus solely on specialized roles, according to a statement by the European Chamber of Commerce Taiwan, which co-sponsored the salary survey.
Employees have their own expectations, the survey found, including valuing certain 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," said John Winter, country manager of Robert Walters Taiwan.
Among the highlights of Robert Walters Taiwan's report on the survey is its focus on the technology job market, which it said is dynamically responding to trends in AI, high-performance computing, and electric vehicles.
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.
Some 52 percent of companies that responded to the survey said they intend to explore the use of AI models, which will 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 in 2024, with 66 percent of tech professionals seeking new opportunities and 81 percent of businesses planning pay raises, according to the survey.
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