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Experts warn pay hikes won’t solve all labor shortages

Reporter Jamie Lin Pinzon
Release time:2023/06/07 17:46
Last update time:2023/06/07 17:46
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TAIPEI (TVBS News) — Taiwanese industries grapple with a pressing labor shortage, as evident from a staggering 1.078 million online job vacancies recorded in June. Sectors most affected by this predicament include tourism, catering, wholesale and retail, and technology. 

In addressing the challenge of attracting and retaining employees, experts assert that relying on salary increases will only solve some problems. They advocate for implementing transparent promotion systems and flexible working hours as additional measures.

 

To alleviate the strain the catering industry faces, which contends with an influx of tourists and a scarcity of workers, employers have responded by raising wages to incentivize and recognize diligent staff members.

Experts recommend that companies account for the persistent rise in living costs and inflation, alongside the ongoing transformation of their respective industries, when adjusting salaries and benefits. Furthermore, it is imperative to develop comprehensive long-term plans to retain a skilled workforce effectively.

In light of escalating living expenses, it becomes apparent that salary hikes are needed to attract workers. But providing avenues for career development and accommodating flexible work hours have also emerged as crucial factors in enticing talented individuals to join the workforce in Taiwan.

Taiwan Business

#job vacancies#labor shortage#salary increases#workforce#Taiwan

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