Nearly seven in 10 Taiwanese companies are increasing investments to upskill and reskill their target workforce in 2021.
Taipei, Taiwan, 9 July, 2021 – Seven in 10 companies in Taiwan are increasing investments to upskill and reskill their target workforce in 2021. According to Mercer’s 2021 Global Talent Trends survey, more than half (52%) of Taiwanese organisations stated that the lack of workforce capabilities and future skills impeded their progress in business transformation, resulting in the urgency to advance their skills agenda.
68% of the respondents indicated that they would invest more in targeted reskilling and upskilling of critical talent pools, to make their organisations more agile and to provide employees with opportunities to learn and grow. Separately, 40% of the organisations have either improved or planned to improve HR analytics for learning and skills acquisition.
To harness the power of skills for transformation, companies must refresh their programmes and tools for seamless skills identification, assessment, development and reward. While it is promising that 32% of HR leaders in Taiwan (compared to 15% of their global peers) plan to reward skills acquisition, only 8% plan to move to pay-for-skills structures.
Progress in this area will be critical for reinvention in 2021 as employees need to see that learning new skills leads to tangible rewards, recognition or promotion, said Jeannie Liu, Career Business Leader, Taiwan, Mercer.
She added, “Our research underscores the value of viewing work and people through a skills lens. COVID-19 has shown that the ability to find talent quickly, move talent to where it’s needed most, and make critical talent decisions is key to keep businesses running during these uncertain times. And companies in Taiwan are responding by making internal talent pools more sharable and relooking workforce flexibility.
“This starts with understanding the existing skills their employees have and the skills they need for the future. More than half of the companies in Taiwan are already gathering information on individuals’ current skills, which is a step in the right direction.”
Using data analytics to better understand your workforce
A skills-based approach to workforce strategy assesses talent based on their holistic skill set (including adjacent skills across industries), rather than industry experience or qualifications. A well-designed skills-based workforce strategy will enable organisations to proactively identify future skills needs and develop an actionable plan to retain, build, buy and deploy talent, as needed.
Ms Liu said, “Organisations are struggling to understand the skill gaps in their current workforce. Two in five HR professionals globally shared that they do not know what skills they have in their own organisations. By building a better understanding of the skills they have and need, companies can connect talent to the work more efficiently to meet the needs of the changing business landscape.”
With an understanding of your workforce’s skill gaps, organisations must find out what motivates and engages their employees to help implement effective upskilling and reskilling programmes for their workforce. 60% of companies in Taiwan plan to improve the employee listening and engagement channels to help with the change process.
Workforce Restructuring and Employee Wellbeing are other top priorities
With flexible working as the new norm, HR leaders are creating policies to support more fluid workforce models and help employees thrive in this new environment. 83% of Taiwanese employers (compared to 56% globally) have or plan to expand and enhance flexible working policies and practices. 86% of the respondents have either aligned or planned to increase alignment between structures (methods, processes and systems) and culture (values and behaviours).
With the new norm accelerating change in all aspects of work, regular check-ins with staff to align with job design and benefits remain essential to retaining and attracting talent.
Employee well-being has also come into focus as the triple impact of pandemic lockdowns, economic uncertainty and rapid changes in day-to-day working patterns was widely felt in 2020. However, the survey shows that Taiwanese employers are paying too little attention to analytics concerning employees’ well-being. 60% of Taiwanese companies do not analyse psychological, mental and emotional well-being analytics compared with 33% globally. Also, 94% of Taiwanese companies do not analyse employee financial health and well-being analytics (51% globally).
Terence Hsu, CEO, Taiwan, Mercer said, “As companies position themselves for post-pandemic growth, attracting and retaining talent is key. While compensation and benefits continue to play a strategic role in determining how employees feel about their organisations, employers need to realise HR analytics are crucial to influencing the well-being of their employees.
“Enhancing the employee experience; revising flexible working policies; redesigning performance management practices and transforming the HR operating model to be more agile have been front and center for every business leader this year.”
Other findings from Mercer’s Global Talent Trends Survey:
About Global Talent Trends study
The sixth edition of Mercer’s Global Talent Trends (2021) study shares insights from over 7,300 senior business executives, HR leaders and employees and, for the first time, has deep dive Companion Reports for 23 geographies, spanning 44 countries. To download the Global report, visit here. In conjunction, the Global Talent Trends 2020–2021 Local Companion Report – Taiwan edition uncovers the priorities of Taiwan HR leaders for the year ahead. To download the Taiwan edition, visit here.
Mercer believes in building brighter futures by redefining the world of work, reshaping retirement and investment outcomes, and unlocking real health and well-being. Mercer’s approximately 25,000 employees are based in 43 countries and the firm operates in 130 countries. Mercer is a business of Marsh McLennan (NYSE: MMC), the world’s leading professional services firm in the areas of risk, strategy and people, with 76,000 colleagues and annual revenue of over $17 billion. Through its market-leading businesses including Marsh, Guy Carpenter and Oliver Wyman, Marsh McLennan helps clients navigate an increasingly dynamic and complex environment. For more information, visit www.mercer.com. Follow Mercer on Twitter @Mercer.
台灣台北，2021年7月9日 – 七成的台灣企業正在增加投資，以在2021年對關鍵人才進行技能提升和再培訓。根據美世的2021年全球人才趨勢調查，超過一半（52%）的台灣企業表示，員工團隊能力和未來技能的缺乏阻礙了他們在業務轉型中的進展，導致他們迫切需要推進技能提升的時間表。
在美世，我們堅信能不斷創造更加美好的未來。我們一起重新定義職場，重新制定退休計畫和投資方案，尋求真正能促進員工健康和福祉的方法。美世在全球130多個國家和地區開展業務運營，擁有逾25, 000名員工，分佈於43個國家和地區。美世是威達信集團（Marsh & McLennan Companies，紐交所代碼：MMC）的全資子公司。威達信集團是一家全球性的提供風險、戰略與人力資本相關專業服務的國際集團公司，在全球擁有超過76, 000名員工，年收入逾170億美元。威達信集團同時也是達信（Marsh）、佳達（Guy Carpenter）、和奧緯（Oliver Wyman）的母公司。威達信協助客戶應對日益變化和複雜的商業環境。欲瞭解更多資訊，請訪問www.mercer.com。通過@Mercer.關注美世的Twitter。