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Taiwan Rising to the Challenge of Global Recession and Developing a Sustainable Workforce Post-Pandemic

Taiwan Rising to the Challenge of Global Recession and Developing a Sustainable Workforce Post-Pandemic

Co-launching the fully digital survey 2023 with the European Chamber of Commerce Taiwan, Robert Walters reveals roles and skill sets in highest demand, as well as the change in candidate and company expectations

Taipei – The Taiwan job market has been robust over the last two years due to the global tech talent shortage. In 2023 the market will be facing uncertainties amidst waning export demand, looming recession and geopolitical tension but will still remain short of candidates. Companies are expected to face challenges in hiring quality candidates and building a sustainable workforce post-pandemic, according to the digital Salary Survey 2023 released by Robert Walters, one of the world-leading specialist professional recruitment consultancies.

Taiwan has been able to cope well with the pandemic and that has allowed for a relatively fast economic recovery in 2022. Companies competed fiercely for top talent, especially within the technology, e-commerce, healthcare, and logistics sectors, and many of them have been offering salary increments as high as 20-25% to attract the top job seekers. 

Despite the Taiwan government implementing various policies to support domestic industries and attract foreign investment, 2023 is set to be a challenging time for recruiting the right talent due to uncertainties. A candidate short market will persist – 57% of professionals are looking to change jobs in 2023 with 90% of them putting more emphasis on job stability. Average salary increments will vary across industries and skills and are anticipated to be around 10-15%. However, with the widespread global skill shortages, companies may scramble to fill some vacancies requiring new tech and niche skill sets, with those professionals expected to command over 25% pay rises.

Tech sector will remain globally competitive
The tech industry has seen a string of massive layoffs in the US in the face of uncertain economic conditions and the crypto market slump. The Taiwan tech sector may enter a cyclical downturn with a softened hiring market in 2023 due to cooling demand, oversupply and exceptionally strong growth over the last few years. Nevertheless, with Taiwan being the leader in semiconductors and foreign tech companies still keen to invest in Taiwan, there will be a strong demand for skilled talent in the long run. This includes areas such as electrical vehicle applications, cloud/enterprise server and 5G base station. Top skills in demand will include software development, cyber security, DevOps/SRE for the Software & IT sector, and analog design, digital design as well as design verification for the semiconductor sector.

The survey found that 78% of software, semiconductor & IT professionals and 65% of electrical products & industrial professionals are expecting a pay rise in 2023. Despite a return of some overseas professionals, the competition for top talent will remain fierce with only 50% of surveyed Taiwan tech talent looking to change jobs in the next 12 months due to the concern in job stability.

Take a skills-based approach to building the future workforce
Skilled talent across all sectors will become even more scarce in Taiwan especially for hard-to-fill roles, such as software engineers. The survey revealed that 85% of employers are concerned about a skill shortage in their field of hiring.

Instead of competing over a small pool of talent with similar credentials, which will only inflate salaries and costs, companies are advised to look beyond the résumé and shift towards a skills-based hiring strategy – identifying and selecting candidates based on their specific skills and qualifications, rather than solely on their experience or education.

Create a sustainable workforce to avoid gaps in expectations
Apart from the talent shortage, 60% of employers reported the challenge of unmatched salary expectations during the interview process and 59% of them experienced high competition for candidates from competitors’ counteroffers and buy-backs. The disconnect between the expectations of employers and candidates was mainly driven by the proliferation in salaries and employee benefits to compete for talent during the pandemic in Taiwan, and underscores the growing importance of non-financial benefits to attract and retain staff.

To create a sustainable ecosystem in a longer run, companies are strongly advised to offer a comprehensive package including flexible working arrangements, opportunities for learning and development, solid ED&I strategies etc. if they are to win over employees without continually increasing their salary offers.

Develop a more humanistic workplace to retain employees
Another challenge faced by employers in Taiwan is navigating the transition back to pre-pandemic circumstances, and to ensure productivity, engagement, and well-being are upheld at the same time. Many employees have experienced working from home for the first time during the pandemic and as a result appreciate the flexibility and autonomy that this new norm can provide, especially among the HR professionals (42% surveyed). At the same time, professionals have experienced a blurring of lines between work and personal life, leading to a desire for more work-life balance going forward.

Employers are advised to adapt to the accelerated shift towards a more flexible and employee-centric workplace culture and have strategies in place to mitigate the potential descriptions with the transition back to the office, as employees are now expecting their employer to be more responsive to their wellbeing and more adaptable to change.

John Winter - General Manager at Robert Walters Taiwan, said:
“The Taiwan job market is one of the most dynamic in the region and we're confident that it will continue to be a destination of choice for job seeking and investment. The challenges of acute talent shortage and shifting from pandemic-driven workplace to a newer norm will remain in 2023, accompanied by economic uncertainties and rising costs. It is important for companies to place more value on EVPs, bolster company culture and make hiring strategy more inclusive to secure and retain the in-demand talent through 2023.

Employers are encouraged to consider candidates who may not have direct experience in the specific role but have transferable skills; continue to upskill them and invest in their development to keep them motivated. This not only helps secure talent in the short run, but also builds a strong pipeline for company growth.”

Please refer to this link for the presentation: Robert Walters 2023 Salary Survey




台北 - 由於全球科技人才短缺,台灣的就業市場在過去兩年十分強勁。然而,隨著出口需求減弱、經濟衰退和地緣政治緊張局勢的威脅,2023年市場將面臨不確定性,且職缺供過於求。根據全球專業徵才諮詢公司領導者之一的華德士,其發佈的「2023數位薪資調查」,報告指出,企業在後疫情時期將面臨招募優秀人才和建立可持續勞動力的挑戰。





以技能為基礎 建構未來勞動力

建立可持續的勞動力 避免期望落差




華德士台灣總經理John Winter表示:「台灣的就業市場是該地區最具活力的之一,我們相信它依然是求職和投資的首選目的地。在2023年嚴重的人才短缺以及從以疫情為驅動的工作場所轉型到新常態的挑戰將繼續存在,同時還伴隨著經濟不確定性和成本上升,對於公司來說,更加重視員工價值主張、加強企業文化,並使招募策略更具包容性,確保2023年能獲得和留住企業所需人才是非常重要的。」


華德士2023數位薪資調查報告,詳請此連結:Robert Walters 2023 Salary Survey