2022 Sustainable Talent Forum
The ECCT was a co-organiser of the 2022 Sustainable Talent Forum together with CommonWealth Magazine (天下雜誌). The event brought together CEOs and HR managers from Taiwan’s top enterprises, multinational corporations operating in Taiwan, entrepreneurs from SMEs, and government officials from the Ministry of Labor, Ministry of Economic Affairs, the National Development Council, and the Ministry of Education to examine talent trends in Taiwan within a global context and illustrate what leading corporations are doing to address talent shortages and attract and retain the best talent. The event began with opening remarks by CommonWealth Magazine Chair Wu Yin-Chuen and ECCT Vice Chairman Giuseppe Izzo. This was followed by keynote presentations by Kung Ming-hsin, Minister of the National Development Council and Dave Ulrich (recorded video), Professor of business at the University of Michigan.
In his presentation, Minister Kung noted that while average salaries in Taiwan were relatively low, those with specialist skills, such as technology engineers and technicians, were earning high salaries that are competitive with other advanced countries. He went on to acknowledge the talent shortage in certain sectors and talk about how the government is working to promote science technology engineering and mathematics (STEM) education as well as promote initiatives to attract foreign talent (such as the Gold Card scheme). The government aims to attract 400,000 foreign workers over the next 10 years to make up for the shrinking working-age population caused by the country's declining birth rate and ageing population. This includes increasing the number of Gold Cards issued to white collar workers from fewer than 10,000 now to 100,000 eventually. Efforts will also be increased to attract and retain more international students of ethnic Chinese background, and increase the retention of migrant workers in Taiwan, many of whom are young and have received a vocational or university education.
In his presentation, Dave Ulrich offered advice to companies on how to attract and retain talent. He stressed that the most important thing that companies should focus on is to ensure that they succeed in the marketplace. Everything else follows from this, including the ability to attract the best talent. Keeping them requires giving them what they want in terms of development opportunities (like education and training), a stable and attractive work environment that is aligned with their values, appropriate rewards and great life experiences. He noted that every employee is different and therefore how they are treated should be personalised.