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Taiwan sees job market surge in Year of the Dragon

Reporter TVBS News Staff
Release time:2024/05/10 16:05
Last update time:2024/05/10 16:09
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TAIPEI (TVBS News) — The Year of the Dragon, often seen as a time for new beginnings and significant life changes, has sparked a major shift in the Taiwanese job market. With a local job bank reporting a surge in job seekers in December 2023, reaching an annual high that's up 8.5% from the previous year, a staggering 82% of these individuals are ready to switch careers.

Economic Opportunities and Choices

 

Chiang Ching-hua, an associate in the Human Resources Department at a local job bank, noted the abundance of opportunities. "In fact, we have more than a million job openings every month," Chiang said. "With so many opportunities, I believe many workers will start to evaluate after the New Year whether to change jobs."

The considerations for those contemplating job changes are varied but often focus on several key factors. Experts suggest that individuals consider salary, career growth, the duration of their current job, the risks associated with entering a new field, and potential international opportunities.

Salary, however, often remains the top priority. Companies typically increase wages by 3 to 4% every one to two years, but if a worker’s salary at the same company does not increase by at least 10% within three to five years, they are likely to look elsewhere.
 

Workplace Dynamics and Legal Standards

The dynamics of the workplace and the legal standards governing employment also play a crucial role in the decision-making process. Chang Feng-yi, executive director of the Taiwan Labor and Social Policy Research Association, highlighted the importance of fair employment practices.

"According to Article 10-1 of the Labor Standards Act, when transferring an employee, the transfer must be based on the business operation's needs," Chang explained. "Additionally, the employee should still be able to perform the required duties satisfactorily in terms of physical ability and skills after the transfer."

With companies striving to retain their best employees and attract new talent, analysts warn about the potential pitfalls of aggressive recruitment strategies. They recommend that businesses carefully assess their needs and offer incentives that create a supportive and enduring work environment. If a new job offers a salary increase of 10 to 20%, most employees are likely to accept the offer, indicating the high mobility within the job market.
 

The Taiwan Briefing

#Taiwan job market#job openings#career change#salary increase#recruitment strategies#employee retention#workplace dynamics#legal standards employment#job seeker trends#Taiwan Labor Standards
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