TAIPEI (Taiwan News) — Around 58.3% of businesses in Taiwan are considering a wage hike for employees in the first quarter of 2022, according to a survey by job bank yes123.
Of the companies surveyed, 46% said they will implement salary increases based on workers’ performance, while 12.3% will go for a blanket pay raise. The rise is expected to be 4.1% on average, the poll suggests.
Apart from year-end cash bonuses, 40.8% of companies are mulling cash rewards in the first quarter to retain talent, the highest proportion in four years.
In addition, as many as 88.2% of companies revealed that they have recruitment plans for the first three months of 2022. These businesses are in the ICT, dining, accommodation, travel, traditional manufacturing, retailing, transport, and logistics industries.
Those intending to bring in new blood are willing to pay a starting monthly salary of NT$36,272 (US$1,306) on average. This is lower than the average of NT$40,789 expected by those seeking a new job, the survey found.
About 90.7% of salaried workers said they will have to tighten their belts in the coming year, spending no more than NT$7,162 a month on eating out and NT$7,794 on recreation.
The survey, conducted between Dec. 8 and 20, collected 963 valid samples from businesses and 1,328 from salaried employees. It has a confidence level of 95% and a margin of error of plus or minus 2.69 percentage points.
