Most managers mull job change: headhunter
Nearly 85 percent of Taiwan’s middle and senior-level managers are considering changing jobs within the next 12 months, citing displeasure with their current salaries and company culture, according to a report released by specialist Asia recruitment firm MRIC yesterday.
The 2013 MRIC Talent Report surveyed 5,387 mid- to senior-level managers across a wide range of and locations, asking 3,820 in mainland China, 279 in Hong Kong, 460 in Singapore, and 379 in Taiwan. Eighty-ninety percent of those surveyed currently work in a foreign company.
“A much higher proportion of Taiwanese say that are dissatisfied (61.7 percent) compared to last year (51.6 percent) and to other (areas) surveyed,” said Patty Yang, General Manager for MRIC Taiwan.
Among those wanting to move to a new company, “increased compensation/commission” was cited as the chief motivation by the most people (42 percent), followed by “opportunity to increase responsibility/challenges” (32.1 percent), “clearer career path” and “company’s leadership/strategic direction” (both 23.5 percent).
Among those willing to stay in their current jobs, “better work/life balance” was cited as the chief motivation by the most of those surveyed (42.3 percent), followed by “company’s leadership/strategic direction” (32.7 percent) and “opportunity to increase responsibility/challenges” (26.9 percent).
Of professionals in Taiwan, one quarter placed importance on the culture of the company they are employed with, the highest proportion of all locations surveyed. Among all the dimensions of corporate culture dimension surveyed, “admired leadership” and “belief in fairness and promotion on merit” received the lowest ratings.
Social welfare issues have transfixed Taiwan’s population recently. Its relevance is also shown in the 2013 MRIC Talent Report. Benefits hold particular prominence in Taiwan compared with Hong Kong or Singapore. Retirement benefits especially were found to be a key concern in Taiwan for 62.3 percent of the professionals surveyed, followed by health care (54.4 percent) and paid time off (47.4 percent).
While Taiwanese professionals have strong capabilities, they lack proficient English and communication skills compared with counterparts in Hong Kong and Singapore, said Yang, and the quality of “humbleness” demonstrated by Taiwanese professionals — although deemed a positive character in Chinese culture — is often not a valued trait in the competitive job market.
Taiwanese professionals’ pay is “far too reasonable,” Yang said, adding that “they just need to polish their English skills and improve their ability to better express themselves.”
For those with five to 10 years of experience in management-level positions, Taiwanese managers are usually paid 20-30 percent lower less than their counterparts in Hong Kong and Singapore, according to Yang.
Taiwanese workers are usually willing to move overseas for a 5-10 percent increase in compensation, she continued. Offices in Hong Kong and Singapore are considered “regional headquarters,” and managers there are often charged with more responsibilities, which contribute to their higher compensation.