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Strategies for Taiwan's Tech Industry to Address Talent Displacement

Strategies for Taiwan's Tech Industry to Address Talent Displacement

NVIDIA CEO Jensen Huang recently announced that the company's overseas headquarters will be established in Taipei. This decision might kick off a talent competition. According to Wang Rongchun, career education director at 104 Job Bank, salaries at foreign companies are generally higher than those at local firms, making them particularly attractive to job seekers. Wang analyzed NVIDIA's talent attraction effect and outlined three main factors:

  • Salary: Foreign companies often offer more attractive salaries even for similar job levels.
  • Education and Training: The training systems at foreign companies are usually more comprehensive, effectively nurturing talents and providing graduates with valuable learning opportunities and job titles.
  • International Experience: Working for foreign companies can offer opportunities for international experience, which is a significant pull factor not easily matched by local companies.

In light of the aggressive approach of foreign firms like NVIDIA, local companies need to actively respond. Wang suggests that companies should engage with students early, allowing them to gain exposure in labs during their academic years, thereby increasing the likelihood of employment after graduation. Additionally, he highlighted NVIDIA's proactive partnership with many universities, as demonstrated by Huang's showcasing Taiwan's supply chain in prominent speeches.

Internationalization is another strategy. While the Taiwanese semiconductor industry is primarily composed of local firms, it has begun to embrace internationalization. Wang notes that this advantage should be emphasized. While foreign companies are attractive, they often leave employees feeling isolated. On the other hand, local firms can offer support from many alumni from the same school. Finally, job seekers today increasingly value work-life balance, which drives many to pursue positions at foreign companies. Wang advises local firms to consider this point and enhance their employer branding to boost potential applicants' interest.