Robert Walters 2023 Salary Survey launch
The digital Salary Survey 2023 was released by Robert Walters in cooperation with the ECCT at a Premium Event lunch. Read the full event report.
Please refer to this link for the presentation: Robert Walters 2023 Salary Survey
At the event, John Winter, Country Manager of Robert Walters Taiwan, gave a presentation summarising the main findings of the survey. He said that the Taiwan job market has been robust over the last two years due to the global tech talent shortage but in 2023 the market will be facing uncertainties amidst waning export demand, a possible 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.
In Taiwan, although there has been a slow-down in manufacturing industries, there is active hiring in certain segments. In hardware, there is demand for talent in electric vehicles, power storage systems, cameras, IoT, smart homes and wearable devices. The software sector saw the highest rate of job growth in 2022 (a 25% increase in job openings and a 20% increase in jobs in cybersecurity) but has seen a market correction over the last six months and candidates have become more conservative about switching jobs and favouring established companies over start-ups. The semiconductor sector has also cooled down but there is still strong demand for talent related to the automotive industry and data centres.
Winter noted that candidates want hybrid working options and it is very difficult to find candidates who are willing to work for companies that do not provide flexible working arrangements.
Looking at overall post-pandemic trends, salaries and benefits have risen, candidates have the upper hand given the talent shortage due to factors such as people taking early retirement during the pandemic. There has been an increased awareness of work-life balance and hybrid working has become a norm. At the same time, many companies are pushing back against hybrid working (some are insisting that employees come back to the office).