Technology has changed the dynamic for the recruitment process and workplace environment. As technology empowers employees to access and share information, more is expected from employers. Platforms such as LinkedIn, the world’s largest online website for professional and career networking, is leveraging the unique set of profile information on talent and companies to discover insights to better inform hiring decision makers.
At a recent seminar hosted by AmCham Taipei’s Human Resources Committee and entitled, “Connect to Opportunity,” Jeff Wong, Head of Sales in North Asia at LinkedIn, discussed the latest hiring trends to help HR professionals and business leaders understand recruiting strategies and ways to expand their businesses in the coming years.
In his opening, Wong shared LinkedIn’s current status of 610 million members, 30 companies, and 20 million open jobs in its network. He discussed three macrotrends: 1) AI/Automation, 2) skills gap, and 3) independent work. And he posed the question:”Since the relationship between employers and employees is fundamentally changing, how is the government or your company preparing for the future?”
Wong noted a few trends LinkedIn sees emerging in Taiwan and around the globe:
- ABC Skills are in demand: Many global tech companies have recently invested in Taiwan and are looking for talent with ABC skills. “ABC skills”: Artificial Intelligence, Big Data, and Cloud Computing).
- Soft skills are the biggest skills gap: Companies increasingly value soft skill sets, as they are important to the success of companies and cannot be replaced by AI and automation. The top in-demand soft skills in Taiwan are: 1) management, 2) project management, and 3) sales.
- Rise in independent workers: 12% of Taiwan’s workforce are independent workers, including those working remotely or in shifts. Work flexibility is an important factor and people are taking this into consideration when looking for jobs.
- Increasing competition: Taiwan is losing more talent than it is gaining, at a ratio of 1:2. The main five countries Taiwan is losing talent to are the U.S., China, Japan, Canada, and Germany. The top five countries Taiwan is gaining talent from are India, Hong Kong, South Africa, Brazil, and United Arab Emirates.
Besides the government’s efforts to attract foreign talent from abroad, Taiwan also needs to consider how to retain its local talent – especially those with R&D and engineering skills. Wong encourages companies in Taiwan to invest in talent development through continuous learning and to make learning accessible for employees.
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