2013/14 EMPLOYEE INTENTIONS REPORT

Michael Page taiwan

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Contents
Key findings: Local Taiwan nationals Attracting New Talent Employee activity Preferred attraction strategies Jobseeker salary expectations Retaining Top Performers Preferred retention strategies Employee salary expectations Benefits & Work-Life Balance Options Preferred employee benefits Preferred work-life balance options Market Outlook Employee concerns Employment conditions for 2013/2014 Key findings: Overseas Taiwan nationals Moving to Taiwan for employment Market outlook Contact Us 3 4 6 7

8 9

10 11

12 13 14 15 16 17

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Key Findings
Local Taiwan nationals
Despite continued uncertainty in China and the Eurozone, Taiwans economy has been stabilising leading to increased job flow and demand for talent across the professional sector. Almost half of respondents (48%) to the 2013/14 Michael Page Taiwan (Local Taiwan nationals) Employee Intentions survey believe the current job market is average. However, a further 23% say the job market is weak, most likely as they are cautious of being optimistic, as there is uncertainty of GDP. As a healthy level of recruitment is expected across the professional sector in Taiwan over the coming year, employees are likely to take advantage of the job opportunities available to them and seek a new position. Almost half of survey respondents (47%) indicate they are very likely to change roles in the next 12 months, with 34% quite likely to seek a new job. Despite the expectation that employment conditions will be positive in Taiwan over the next 12 months, 72% of respondents reveal they are likely to seek a role overseas. Asia is the most popular area respondents will look for a new role (63%), with China the preferred country of choice.
23%

A healthy level of recruitment is expected across Taiwans professional sector and employees are likely to seek a new job in 2013/14.

Employee confidence
in the current market

7%

5% 17%

Very strong Strong Average Weak Very weak

With many professionals likely to seek a new role in the coming year, employers in Taiwan will need to consider implementing strong attraction and retention strategies to secure top talent. Just over a third of jobseekers (36%) are looking for scope for career progression in their next role and 31% say they will seek an increase of 10-12% on their base salary. To remain in their current role, 33% of surveyed employees ranked financial reward based on performance as the primary influencing factor. Just over half of survey respondents (56%) say they will ask their employer for a pay rise in the next 12 months, with 37% seeking a wage rise of 10-12%. Offering attractive employee benefits and encouraging work-life balance options is also vital to talent management and fostering employee engagement. Most respondents (68%) selected a bonus as the number one benefit they would like to receive from their employer and 81% chose flexible working arrangements as the work-life balance option they would like the most. Looking ahead, employment activity is likely to remain stable as business in Taiwan remains consistent. Just over half of surveyed employees (53%) believe hiring within the sector they work in will remain the same over the coming year. However, some concern remains around the broader economy and 40% of respondents say their main concern for the next 12 months is global economic influences.

48%

Methodology
The 2013/14 Michael Page Employee Intentions Report (Local Taiwan nationals) is based on the online survey responses of over 400 professionals in Taiwan. Participants represent a range of professional occupation groups and hold positions that range from entry level through to senior management. The scope of the report includes key employee insights into preferences for attraction and retention, salary expectations, benefits and work-life balance and their views on the predicted employment outlook.

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Attracting New Talent

Employee activity
With positive employment conditions expected across Taiwans professional sector in the coming year, employees are likely to look for a new role. This may be due to the fact that professionals continue to seek better pay to counter high tax rates, as well as the opportunity to develop their skills with another employer. Almost half of survey respondents (47%) indicate they are very likely to change roles in the next 12 months, with 34% quite likely to seek a new job. Employees in the accounting and finance sector (43%) are most likely to move roles in the coming year. Job opportunities are expected to be available for talented people in this area as amendments to government regulations make it easier to operate businesses in the country and companies establish new headquarters in Taipei. To find a new role, employees will use a combination of channels in their job search. The majority of all surveyed professionals (73%) will refer to job boards, with 104.com.tw the most popular. The second highest ranked option is recruitment consultants, as indicated by 70% of respondents. Social media platforms are used by 31% of jobseekers, with 60% preferring to use LinkedIn. Based on the reliance on online and social media tools, plus recruitment consultants, employers should consider utilising these avenues to source top talent for their business.

Employee turnover
in the next 12 months

Top 5 sectors
with professionals most likely to move roles
Very likely Quite likely Not likely Unsure

Combination of channels
likely to be used for job search

13% 6% 47%

Accounting and finance Engineering and manufacturing Procurement and supply chain Technology

43% 36% 30% 26% 20%

Job boards Recruitment consultants Social media platforms Other (e.g. referrals, networking) Industry specific publications

73% 70% 31% 10% 1%

34%

Human resources

Top 5 preferred
job boards

1 2 3 4 5

104.com.tw 1111.com.tw Other JobsDB.com.tw Yes123.com.tw

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Attracting New Talent

Employee activity (cont.)
Some Taiwan professionals are also likely to look for overseas job opportunities. This may be because they feel they have a better chance of easily progressing their career, gaining international experience and receiving higher salaries in the larger employment markets outside of Taiwan. Some 72% of respondents say they will look for work abroad over the next 12 months. The majority of respondents (63%) selected Asia as the region they will look for work, most likely as the market rate for salaries in some countries in the region continues to be higher in comparison to Taiwan. China is the most desired country for work, and may be particularly attractive to jobseekers looking to access job opportunities from a larger range of international and regional businesses.

Employees looking for work outside of Taiwan

in the next 12 months

Region jobseekers will look

for work

Top 5 countries
jobseekers will look for work

28%

Yes No

Asia Australia / New Zealand EMEA* North America

63% 22% 10% 3% 2%

*Europe, Middle East and Africa

1 2 3 4 5

China Singapore Hong Kong Japan Malaysia / Vietnam

72%

South America

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Attracting New Talent

Preferred attraction strategies
With a number of professionals anticipated to change roles over the next 12 months, employers will need to implement strong talent management strategies to attract the best jobseekers to their business. Just over a third (36%) of surveyed employees are looking for scope for career progression in their next role. From the range of sectors surveyed employees work in, those in marketing (48%) are most likely to seek a new role that offers the opportunity for career progression. This may be because many companies in Taiwan are already focused on training and developing marketing staff in Taiwan for overseas secondments, through job rotation, field training and leadership training. Other factors that will influence the decision to change roles, as indicated by surveyed jobseekers, include seniority or a promotion (17%) and an increase in salary (15%). Surveyed professionals across all age ranges (25 to 54) agree scope for career progression is the most important factor in deciding to accept a role with another employer. In terms of the second most important aspect they will seek in another job, an increase in salary is key for 21% of those aged between 25 and 34, more seniority or a promotion was selected by 19% of 35 to 44 year old professionals and 22% of professionals aged between 45 and 54 will consider company brand and reputation.

What jobseekers are looking for in their next role

Scope for career progression More seniority / promotion Increase in salary Company brand and reputation Potential for overseas career opportunities Learning and development Office location / accessibility Workplace flexibility Other

Top 5 sectors
in which increase in salary is most important

36% 17% 15% 11% 8% 8% 2% 2% 1%

Marketing Procurement and supply chain Engineering and manufacturing Human Resources Technology

48% 36% 28% 27% 26%

Company brand and reputation Increase in salary

More seniority / promotion Company brand andin reputation What jobseekers are looking for their next role (by age) Increase in salary Learning and development Company brand and reputation Increase in salary Learning and development More seniority / promotion O ce location / accessibility Scope for1% career 7%progression Workplace exibility
32%

Learning and development

O ce location / accessibility Potential for overseas career opportunities Scope for career progression Workplace exibility Other

More seniority / promotion O ce location / accessibility Potential for overseas career opportunities Scope for career progression Workplace exibility

25 to 34 Potential overseas career opportunities Other 25for to 34

35 to 44 35 to 44
2% 1% 9% 17% 38%

45 54 45 to to 54
2% 2% 22%

Other

21%

37%

7% 5% 10% 1% 15% 14% 7% 19% 2% 14% 6% 6% 3%

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Attracting New Talent

Jobseeker salary expectations
The continued importance of offering financial incentives to attract talent, coupled with high tax rates in Taiwan, means employers will need to offer competitive remuneration to secure the best professionals for their business in the coming year. Almost a third of respondents (31%) say they will seek a salary increase of 10-12% on their base salary in the next 12 months, and 28% will look for a wage rise of 16% or above. Employees in the technology sector (44%) are most interested in a pay rise of 10-12% when accepting a new role. This is the standard increase for the best performing professionals in this industry, with some employers rewarding higher salary increases to the most in-demand talent. Just over half of professionals (55%) aged between 35 and 44 are most likely to seek a salary increase of 10-12% in a new role over the coming year. As wage inflation has been low in recent years, these professionals may feel they are currently underpaid, which is motivating their focus on a wage rise. Some 22% of those aged between 45 and 54 and 21% of employees aged 25 to 34 will also seek a salary increase of 10-12%.

Employee salary
expectations for a job change

Top 5 sectors
with employees that have salary expectations of 10-12%

Age of professionals
with salary expectations of 10-12%

No change or a reduction 1% to 2% 3% to 5% 6% to 9% 10% to 12% 13% to 15% 16% or above

5% 1% 12% 10% 31% 13% 28%

Technology Accounting and finance Engineering and manufacturing Procurement and supply chain Marketing

44% 38% 28% 28% 20%

25 to 34 35 to 44 45 to 54

21% 55% 22%

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Retaining Top Performers

Preferred retention strategies
To complement a strong attraction strategy, employers in Taiwan will also need to implement effective retention measures to keep the best performing staff within their business. A third of survey respondents (33%) ranked financial reward based on performance, such as a bonus or a salary increase, as the primary factor in the decision to remain in their current role. In terms of age range, professionals aged between 25 and 44 would most like to receive a financial reward based on performance. For those aged between 45 and 54, company culture is the most influencing factor in the decision to remain with a current employer. A strong company culture can be developed by organising team or social events, encouraging recognition and strong respected and consistent leadership from senior management.

What will keep employees in their current role

Financial reward based on performance Company culture Leadership / motivating manager Additional career development supported by training Overseas career opportunities Other (e.g. company growth and stability) Workplace flexibility

33% 21% 15% 14% 8% 5% 4%

Additional career development supported by training

What will keep employees in their current role (by age) Financial reward based on performance
Leadership / motivating manager Additional career development supported by training Company culture Financial reward based on performance Leadership / motivating manager Overseas career opportunities Workplace exibility Other 2525 to to 34 34
6% 9% 19% 6% 15% 15% 21% 17%

Company culture

Overseas career opportunities Workplace exibility Other

3535 to to 44 44
5% 3% 16% 8%

45 45 toto 54 54
9% 3% 6%

12%

30%

40%

35%

26%

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Retaining Top Performers

Employee salary expectations
As the economy in Taiwan stabilises, employers will need to consider awarding salary increases to retain their best talent over the coming year. Over half of survey respondents (56%) say they will ask their employer for a pay rise in the next 12 months. Some 22% of staff are unsure if they will request a salary increase in the coming year, while another 22% say they will not ask for a wage rise, probably because these employees have been with a company for a long period of time and dont see this as a priority. From a range of sectors respondents work in, employees in technology (40%) are most likely to request a pay rise in the next 12 months. Professionals in this sector are likely to expect a salary increase as hiring activity in this industry increases and jobseekers become more competitive with more businesses seeking technology manufacturing support in Taiwan. Of those employees seeking a wage rise from their current employer, most (37%) will ask for an increase of 10-12%. This expectation is above the average salary increase that employers are likely to offer staff, according to the 2013 Michael Page Taiwan Salary & Employment Forecast. Just over half of professionals aged between 35 and 44 (53%) are most likely to request a pay rise of 10-12% from their current employer in the coming year.

Salary pressures
over the next 12 months

Top 5 sectors
with professionals most likely to request a pay rise
Yes No Unsure

What employees will ask for

in their current role

22%

Technology Procurement and supply chain Accounting and Finance Marketing Engineering and manufacturing

40% 35% 31% 30% 23%

1% to 2% 3% to 5% 6% to 9% 10% to 12% 13% to 15% 16% or above

2% 18% 25% 37% 4% 14%

56% 22%

Age of professionals
most likely to request a pay rise

25 to 34 35 to 44 45 to 54

31% 53% 13%

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Benefits & Work-Life Balance Options

Preferred employee benefits
Companies that are focused on attracting and retaining staff in the next 12 months should consider offering attractive employee benefits. Monetary incentives continue to be popular with surveyed respondents as 68% selected a bonus as the number one benefit they would like to receive from their employer. Professionals aged between 35 and 44 (50%) are the most interested in receiving a bonus from their employer. Employees in this age group are also the most likely to ask for a considerable salary increase either when considering to accept a new job or deciding to remain in their current role. This focus on financial reward may indicate the level and skill set these professionals have attained in their careers.

Combination of benefits
employees would like to be offered

Age of employees
that would like to be offered a bonus

Bonus Transport allowance Medical and dental benefits Parking Company car Mobile phone Gym membership Personal loan None Other

68% 43% 27% 24% 23% 15% 14% 11% 6% 5%

25 to 34 35 to 44 45 to 54

29% 50% 19%

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Benefits & Work-Life Balance Options

Preferred work-life balance options
Promoting work-life balance options is an effective way for employers to encourage in-demand talent to join their company, and to keep their best performers. The vast majority of survey respondents chose flexible working arrangements (81%) from a combination of choices as the most desirable work-life balance option. This can include flexible working hours and remote access or workspaces, in some multinational companies in particular. Just over half of professionals aged between 35 and 44 (51%) are most interested in receiving flexible working arrangements from their employer, most likely as these professionals continue to value the flexibility to balance work hours with family time.

Combination of work-life balance options

employees would like to be offered

Age of employees
that would like to be offered flexible working arrangements

Flexible working arrangements Extended leave Additional leave options Increased maternity / paternity leave None Other

81% 54% 46% 7% 5% 2%

25 to 34 35 to 44 45 to 54

27% 51% 19%

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Market Outlook
Employee concerns
Although financial conditions in Taiwan are stabilising, some unease remains around how the conditions of the broader global economy, in particular the United States and Europe, may affect the domestic economy. Some 40% of respondents say their main concern for the next 12 months is global economic influences. Employees in the technology sector (42%) are most concerned about global economic influences. With consumer demand driving business activity and subsequent jobs growth in this area, these professionals may be concerned that the instability of the global economy may decrease consumer demand, which could lessen business investment and the volume of jobs.

Employee concerns
over the next 12 months

Top 5 sectors
with employees most concerned about salary vs living costs

Global Global economic economic influences influences Salary Salary vs. vs. living living costs costs Domestic Domestic economic economic downturn downturn Government Government regulation regulation Job Job security security Interest Interest rate rate rises rises Other Other

40% 23% 20% 9% 5% 2% 1%

Technology Marketing Accounting and finance Human resources Sales

42% 32% 30% 25% 22%

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Market Outlook
Employment conditions for 2013/14
Over the next 12 months, the professional job market in Taiwan is likely to continue offering a healthy volume of opportunities in line with consistent levels of business activity. Just over half of surveyed employees (53%) believe hiring activity in the industry they work in will remain the same over the coming year. This is followed by 26% of employees who are of the opinion that it will improve. The vast majority of marketing professionals (78%) are the most optimistic of all respondents about job market activity for their sector in the coming year. This may be likely as employers are focusing on growing their marketing teams and training marketing staff to develop their skills and potential within the company.

15%

3% 3%

Employee optimism
in the job market over the next 12 months
26%
It will signi cantly improve It will improve It will be the same It will be worse It will be far worse It will signi cantly improve

Top 5 sectors
with highest employee optimism

Marketing Technology Procurement and supply chain

It will signi cantly improve

78% 52% 43% 23% 20%

26%

It will improve It will be the same It will be worse It will be far worse

53%

15%

3% 3% 26%

Sales

It will improve It will be the same It will be worse It will be far worse

Accounting and finance

53%

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Key Findings
Overseas Taiwan nationals
Steady economic conditions across Asia are encouraging consistent business and hiring activity in the region. Multinational companies are continuing to develop their presence in China, Singapore remains a hub for international businesses establishing their regional operations and organisations are continuing to use Hong Kong as a platform to expand into China and the rest of the region. With Taiwans proximity to these countries, the domestic economy is stable and encouraging a volume of business activity and job opportunities in the professional sector. However, many respondents (44%) to the 2013/14 Michael Page Taiwan (Overseas Taiwan nationals) Employee Intentions survey, who mostly live and work in the Asia region, believe the current job market in Taiwan is average, and a further 31% are of the opinion that it is weak. This may be likely as employment conditions in neighbouring countries such as China, Singapore and Hong Kong may seem to be more positive when compared to Taiwan. This trend is on par with findings in the 2013/14 Michael Page Taiwan (Taiwanese locals) Employee Intentions survey. Looking ahead, the economy in Taiwan is expected to remain stable in line with conditions across Asia, which is likely to positively impact domestic business and hiring activity. Half of survey respondents (50%) believe the professional job market in Taiwan will improve over the next 12 months, and 38% expect it to remain the same. A good volume of employment activity in Taiwan is expected to continue over the coming year, with job opportunities likely to become available for talented overseas Taiwan nationals. More than half of overseas Taiwan nationals (57%) say they will move back to Taiwan for work and 52% indicate family is the main influencing factor for their move. Just over a third of respondents (35%) say they intend to come home within three months and 32% plan to return in more than one years time.

Over half of overseas Taiwan nationals say they will move back to Taiwan for work. Overseas Taiwan nationals
confidence in the current job market

7%

17%

Strong Average Weak Very weak

31%

44%

Methodology
The 2013/14 Michael Page Employee Intentions Report (Overseas Taiwan nationals) is based on the online survey responses of over 50 Taiwanese nationals living and working outside of Taiwan. Participants represent a range of professional occupation groups and hold positions that range from entry level through to senior management. The scope of the report includes overseas Taiwan nationals confidence in the current Taiwanese job market, their insights into the predicted employment outlook for the country and the possibility of returning to live and work in Taiwan.

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Moving to Taiwan for Employment

Overseas Taiwan nationals activity
The steady level of employment activity in Taiwan is expected to continue over the coming year, in line with positive hiring activity across the Asia region. More than half of respondents (57%) say they will move back to Taiwan for employment in the next 12 months, while 43% say they will not. From a number of sectors surveyed, overseas Taiwan nationals working in accounting and finance (41%) are most likely to move back to Taiwan for employment. In terms of age, almost half of respondents (48%) aged between 45 and 54 are most likely to consider moving back to Taiwan for work. This may be likely as overseas Taiwan nationals in this age range are usually at the senior level of their career and, having worked overseas and established a career, are ready to return home to work. Some 52% of respondents selected family as the main influencing factor in returning to Taiwan for work. Just over a third of respondents (35%) say they intend to come home within three months and 32% plan to return in more than one years time. Those that plan to return home sooner may be more influenced by family reasons, with those that will return later possibly waiting for employment activity to pick up before going home. Overseas Taiwan nationals who do not intend to return to Taiwan for employment have indicated this is due to a number of reasons such as the lower salaries on offer, no or limited career progression and limited number of companies to work in.

Consider moving back

to Taiwan for employment

Top 3 sectors
with Overseas Taiwan nationals considering working in Taiwan
Yes No

Age of Overseas Taiwan nationals considering working in Taiwan

Accounting & finance Marketing

41% 22% 12% 6% 6%

25 to 34 35 to 44 45 to 54 55 to 64

16% 28% 48% 8%

43% 57%

Engineering & manufacturing Retail Technology

Main reason
for returning to Taiwan to find employment
32%
Family Culture Scope for career progression Increase in salary Other Learning and development opportunities

Timeframe for planning

to return to Taiwan
Less than three months Less than three months

Reasons for not considering moving back to Taiwan for employment

1 2 3
Low salary No / limited career progression No regional opportunity

35%

Between three to six months Between six months to one year More than one year

32%

52% 25% 14% 4%

16%

35%

Between three to six months Between six months to one year More than one year

Less than three months

32%

35%

Between three to six months More than one year

Between six months to one year

16%

16%

4% 16% 2%
16% 16%

4 5

Unhealthy working environment

Limited number of companies, industries and sectors to work in

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Market Outlook
Employment conditions for 2013/14
Over the coming year, employment conditions in Taiwan are expected to remain stable in line with conditions across Asia, which is likely to have a positive flow-on affect to business and hiring activity. Survey respondents have a positive outlook on the professional job market in Taiwan and 50% believe it will improve and 38% expect it to remain the same. Compared to findings in the 2013/14 Michael Page Taiwan (Taiwanese locals) Employee Intentions survey, overseas Taiwan nationals are much more optimistic about future employment conditions in Taiwan. The majority of overseas Taiwan nationals working in accounting and finance (61%) are most optimistic about employment conditions for their sector in Taiwan over the coming year.

Overseas Taiwan nationals

optimism in the job market over the next 12 months
13% 13%

Top 3 sectors
with highest overseas Taiwan nationals optimism
Accounting & finance Procurement & supply chain / Retail Technology

It will improve It will improve It will be It the will same be the same It will be It worse will be worse

61% 11% 10% 6%

50% 50%
Marketing

38% 38%

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2013/14 EMPLOYEE INTENTIONS REPORT

Michael Page TAIWAN

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Taipei
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About Michael Page As part of PageGroup, Michael Page is a leading professional recruitment consultancy specialising in the recruitment of permanent, contract and temporary positions on behalf of the worlds top employers. PageGroup operates through 153 offices in 34 countries worldwide. First established in London in 1976, weve been bringing jobseekers and employers together for more than 30 years. Our presence in the Asia Pacific region extends across China, Taiwan, Singapore, Hong Kong, Japan, India, Malaysia, Australia and New Zealand.

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