Salary increments for job movers in HR to reach up to 20%, according to forecast
Employees in Taiwan can expect their salaries to go up by at least two per cent this year as forecasts suggest a "gradual recovery" in the recruitment market.
The average pay rise in Taiwan is expected to be between two and five per cent this 2024, according to the latest Salary Survey from Robert Walters.
Those switching jobs can expect a bigger salary increase between 10 and 20%, especially those in the commerce and technology markets, according to the survey.
"In the commerce market, job movers can anticipate a salary increment ranging from 12% to 20%, and the job movers in technology sector, the expected salary increment ranges from 10% to 20%," Robert Walters said on its insights.
Job movers in the HR field can also expect a significant salary increment, with a 15 to 20% predicted increase, according to the survey.
Talent shortages to persist
The salary forecast comes as Robert Walters expect talent shortages to persist in Taiwan this year, with attracting and retaining talent to become a top priority for employers.
"Driven by cost considerations and in response to senior-level departures and downsizing, companies are actively recruiting junior and mid-level candidates to address talent gaps," the Robert Walters report said. "Recognising the scarcity of talent among these roles, companies are focusing more on hiring and nurturing young professionals."
Despite 65% of employees actively seeking job opportunities, the report said employers will still struggle to fill positions requiring specialised skills.
Additional challenge at recruitment and retention includes meeting employees' needs, such as excellent compensation and benefits, inspiring colleagues and culture, as well as flexible working module.
John Winter, Country Manager at Robert Walters Taiwan, advised employers to win employees through benefits.
"To attract top talent, organisations need to 'sell' their benefits, flexibility arrangements, career development, and support framework to prospective candidates and current employees alike," Winter said in a statement.
