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Taiwan – Fastest-growing sectors face intensifying competition for talent

27 March 2018

The software, Internet of Things (IoT) and semiconductor industries in Taiwan are expected to see strong growth in 2018, according to a report from Michael Page, which added that talent is short in these sectors and more competition is expected between employers for skilled candidates, with higher than average salary increases to attract new talent.

The report, ‘Salary Benchmark 2018’, shows a strong interest from companies to recruit professionals skilled in the areas of digital, e-commerce, IoT, software development, semiconductors and healthcare.

“The semiconductor and its related industries still play an important role in Taiwan. With its growth potential related to IoT, this industry will play an even more critical role in enhancing the capability of electronic devices,” the report stated. “In 2018, the Internet of Things (IoT) will see high growth in Taiwan, causing increased demand in related electronics markets.”

“There is a fierce talent war to secure the top Taiwanese employees particularly in the software, semiconductors and IoT areas,” Director of Michael Page Taiwan, Shaun Cronin, said. “Companies need to remain competitive by offering attractive salary packages and maintaining strong employer branding. Professionals often have multiple job opportunities and assess potential employers on their in-house technological advancement. Therefore it is important that firms invest in the implementation of new technology to ensure candidates gain experience in these cutting edge projects.

The report also states that professionals with the necessary technical skills such as product development and integration, quality engineering, machine learning as well as data science can expect a higher than average salary increase of 15 – 20% when moving jobs. These salary increases are driven by the job rich and talent short employment landscape, according to Michael Page. 

“The supply of jobs are entering Taiwan in large volumes because of both multinationals and local companies expanding their operations,” Cronin said. “Taiwan has a reputable high-quality developer market. Therefore we are seeing a number of traditional companies finding ways to digitally reinvent their processes as well as companies from Singapore, Hong Kong and other South East Asia countries identifying Taiwan to establish their regional research and development centres.”

Meanwhile, the rise of e-commerce and digital will continue to create job opportunities across sectors. Skilled professionals are highly sought after by both traditional companies looking to digitalise processes and progressive technology-driven firms wanting to stay ahead of the curve.

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