9 in 10 workers plan to quit after CNY

Companies in Taiwan may soon see a record number of resignations after the festive period

9 in 10 workers plan to quit after CNY

Over 90% of employees in Taiwan have plans to switch jobs after the Lunar New Year holiday, according to a recent employment survey.

About 65% of workers had already started looking for new jobs early this year.

Majority of respondents cited dissatisfaction with their current salary for wanting to quit, based on the poll by local online job bank yes123.

Main reasons listed by workers include:

  • Small pay packets (54.9%)
  • Poor company benefits (41.2%)
  • Lack of promotion opportunities (33.4%)
  • Lack of business growth (31.1%)
  • Lack of talent development (28.4%)

Also, over eight in 10 office workers are planning to seek employment overseas. These employees expect to earn 14.6% more overseas than what they currently get in Taiwan.

Starting salaries are slowly rising in the state, especially when an increase in minimum wage to US$4.90 per hour took into effect on 1 January this year.

A new regulation is also resulting in pay raises: Taiwan employers are now required to disclose the monthly salary in job ads for positions paying under US$1,300.

Early this year, Hong Kong also implemented the biggest increase in the city’s minimum wage. Despite the record-high rise, Hong Kong’s minimum wage still fares poorly against the rate in many other developed countries.

To read the story, click here: HK sees record-high rise in minimum wage.

Recent articles & video

SNEF applauds government's support for businesses, workers

SPCAAM criticizes MEF's rejection of festival aid for workers

LSEG enhances parental leave offering

OCBC set to provide financial support for 14,000 junior employees

Most Read Articles

Cisco to lay off 5% of global workforce

Singapore unveils $4,000 SkillsFuture Credit top-up to help mid-career workers

1 in 2 Singapore employers plan to hire more staff in 2024