Having realized the advantages of a diverse team, many companies from the US are now interested in expanding their work force and hiring employees from Taiwan. The fact that US companies are advertising for jobs and specifically mentioning that they need employees from Taiwan is a clear indication of the fact that employers are interested in having Taiwanese employees on board. To help them do so, we will go over all the things that you need to know before hiring employees from Taiwan in 2021.
Businesses in the US are interested in hiring people from Taiwan for a handful of reasons. Many companies are interested in introducing their products or services in Taiwan. As a result, they want employees from that region to better understand the target audience and the potential customer base.
Whereas many companies in the US are looking for Taiwanese employees to add diversity to their employees. Moreover, Taiwanese people are also known to be hardworking and professional. This is also a major reason why companies are happy to have them on their payroll.
You will find Taiwanese employees in almost all leading companies and corporations around the globe. Known to be loyal and dedicated, employees from Taiwan are skilled and ready to take on challenges. If you are looking for employees that will not back off and will always be willing to learn and grow, hiring employees from Taiwan would be an excellent option for you.
Other than the professional behavior and attitude, companies also prefer employees from Taiwan because they are affordable. There is a huge difference in the dollar rate and the New Taiwanese dollar. Therefore, companies can pay the employees quite well yet save a lot of money at the same time. This is an aspect that suits both the employees as well as the employers.
The world has literally evolved into a global village. Therefore, connections are quite simple and distances of miles in between people do not seem to matter any more. The internet and specifically designed tools for remote working have surely facilitated the companies who want to hire employees from Taiwan.
Finding employees from Taiwan is not a hassle at all. All that needs to be done is to advertise about the post. Companies tend to get a positive response as a result of the job postings, receiving applications from a handful of interested candidates. This is because the job seekers are always looking for a better job in a renowned US company so that they can kick start their careers or make a handsome living for themselves.
But before companies go ahead with the process of the actual hiring, they need to know a couple of things about Taiwan. Here is some important background information in this regard:
With a population of around 23.78 million, there is no doubt about the fact that Taiwan is a heavily populated country. There is a lot of competition in the job market as there are a lot of job seekers, but not that many jobs.
This is why finding employees from Taiwan is quite simple. As previously mentioned, companies can expect to receive a handful of applications even for a single job posting. This is especially true for the more renowned and popular US companies which are a dream company to work for, for most of the employees.
Majority of the US companies hiring employees from Taiwan agree on a monthly payment. But in some cases, also depending on the job itself, the companies may pay their employees an hourly or per day wage. Other than the basic salary, some employees from Taiwan also receive other benefits like meal plan payments, residence rent, travel allowance, medical and health insurance etc. But these facilities vary from company to company and depend on the agreement that is signed between the employers and the employees in Taiwan.
At the end of the year, companies are compelled to pay an entire month’s salary to their employees as bonus. This is known as the annual bonus. Other than the bonus, companies also arrange for increments on either a yearly or bi-yearly basis. The percentage of the salary increment is determined as part of the employee’s contract and in most cases, also depends on the performance of the employees and the extent to which they have successfully achieved the targets set.
Before terminating the employees, the companies have to provide a notice period whose duration can be as little as ten days to an entire month. The duration of the notice period and the pay offered as compensation depends on the time period for which the employee has been working as well as their scale and rank.
Both the company and the employees contribute to the provident fund that is given to the employee upon resignation or retirement. Generally, employees contribute twenty percent, the company pays seventy percent while the remaining ten percent is added by the government.
As for the taxes, it is the company that is responsible for the filing of the taxes. The tax deduction from the employee salary is the company’s responsibility. The employees are paid after all the tax related deductions have been made from their salaries.
The GMT +8 time zone is followed in Taiwan. This means that Taiwan is roughly thirteen hours ahead of the US. The difference may seem to be a lot, but in reality, companies and employees agree upon a common timeline where they can arrange meetings and have live chats with one another.
As for the holidays, locally in Taiwan itself, there are a total of 10-15 local holidays. Companies are not compelled to pay their employees for these holidays, but some companies do pay their employees for these holidays as a gesture of good will.
Taiwan is an excellent country to hire hardworking and dedicated employees from. But before proceeding with the hiring, make sure that you are aware of the hiring rules and regulations.
These regulations are changed on a regular basis, therefore, make sure to confirm them from time to time to avoid any inconvenience for the company as well as the employees.