Monkey hop

Monkey hop

The Chinese New Year arrives on February 8, 2016.  It is the Year of the Monkey.  Most everyone is now preparing for the annual meal to send away the old year and welcome the new year.  Many white collar workers on Taiwan also contemplate changing jobs during the new year.  This year, 85.6% of them will be thinking about a change of jobs and a monkey hop.  In 2015, 67% of them wanted to change jobs.  In 2006, 85.9% of white collar workers contemplated changing jobs.

Among the 85.6% of white collar workers in Taiwan who are contemplating a monkey hop, 4% have already found a new job, 81.6% are actively looking, and 13.3% are “riding the donkey to find the horse”, i.e., looking for a better job.  The reason for wanting to find another job is mostly because of the pessimistic short term economic outlook.  There are 8.4% who dare not contemplate looking for a new job because of the pessimistic short term economic outlook, and 12.8% are forced to look for another job because of layoffs, and 25.7% feel that their jobs are no longer secure and may face possible layoffs so they feel compelled to find another job.  There are 53% of them who say that the general economic situation does not influence their decision to find another job.  Many of them say that prospects for 2016 look better than 2015 because the economy has hit bottom and there is hope that it will revive.

Among those who want to change jobs, 20.0% feel tired about their current jobs and they feel that they have come to a bottleneck in their current jobs, 15.3% feel the outlook for their current job is not bright, and 14.4% want to pursue personal interests.  A raise in salary of NT$11,952 per month would persuade many to remain at their current jobs.  In 2015, the average monthly salary was NT$42,545, and many want jobs that will pay 28% more.  There are 4.4% who say that they are determined to look for another job but not because of money.  Salary increase will not keep them at their current jobs.  Uncertainty of the general economic situation and the four-month “empty window period” until inauguration day on May 20, 2016 for the change of government are factors influencing the white collar workers’ decision to look for another job or “job hopping”.  There are 36.9% who blame the lack of workers at the current job, 19.3% who want their colleagues and their bosses to be replaced, 8.0% want a change in their current corporate culture.  The primary consideration for “job hopping” cited by 21.8% is higher salary and better benefits, 16.6% want a change of work location, 15.4% want better working hours and vacations.  In seeking for a new job, 80% want an increasing salary schedule, and an increase of 12.5% in beginning salary at the new job, but there are also 21% who want another job just to have a secure job.  Many who are contemplating “job hopping” cite “no promotion and no raises, and no job performance recognition” as reasons.

This survey was conducted by the 1111 Manpower Bank on January 11-26, 2016, by sampling 1,096 responses.

The survey also indicates that of 760 businesses on Taiwan, 86.8% of them will be hiring in 2016 after the Chinese New Year on February 8, 2016, the Year of the Monkey.  The average beginning salary offered is NT$30,417 per month.  The beginning salary offered in 2015 was NT$30,029.  Among the 760 companies hiring this year, 60.5% are doing so to replenish job vacancies and 26.3% will be filling positions due to expansion.  In 2015, 90.5% of companies offered employment opportunities, and in 2014, 87% of them offered employment opportunities.

In Taiwan, the hiring rate is usually one per every 14.3 candidates interviewed.

About masterchensays

Victor Chen, herbalist, alternative healthcare lecturer, Chinese affairs analyst, retired journalist
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