News » 44.8% of Taiwanese firms are considering wage hikes to keep talents

44.8% of Taiwanese firms are considering wage hikes to keep talents

44.8% of Taiwanese firms are considering wage hikes to keep talents

About 44.8% of Taiwanese firms are looking to raise their wages in the second half of the year to retain talents, said online bank yes123.

In a survey, yes123 spokesman Yang Tsung-pin stated that these performance-based wages could help workers as inflationary pressures gain momentum and push wages into negative territory.

According to the most recent government data, the real average wages during the January to May period shrank 0.23% to NT$41,605 (US$1399) compared to 2021 after factoring in consumer price increases.

Yang attributed the lag to recurring COVID-19 outbreaks affecting sectors reliant on domestic demand, adding that Taiwanese have generally stayed home since April to avoid infection.

However, Yang stated that it would be “wise” for companies to hold onto cash and adopt a conservative pay as ongoing virus infections drove 16.3% of companies to cancel plans to raise wages.

He also called on policymakers and private-sector firms to work together to ward off a forecast surge in unemployed first-time jobseekers as the graduation season approaches.

He added that they should also seek to prevent people from dropping out of the workforce due to being unemployed for a long period.

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