Career Cushioning, the process of being proactive about your career prospects to ‘soften the blow’ should anything go wrong with your current job, is a phenomenon that recruitment firm Robert Walters believes has grown in the Taiwan job market.
According to the latest survey by Robert Walters Taiwan, only 18.45% of workers have no plans to switch jobs in the first half of 2024. Over 80% of respondents are actively seeking new job opportunities or preparing for a career change. The main motivations for job switching are low job satisfaction (35.06%), economic instability (19.93%), and lack of job security (15.87%), indicating that more than a third of Taiwanese workers lack confidence in their current employment situation.
81.55% of professionals have taken steps to prepare to look for another job as a ‘just in case’ tactic. Among them, 28.04% are actively seeking new job opportunities in the first half of 2024. The top reasons for job switching are low job satisfaction (35.06%), economic instability (19.93%), and lack of job security. Common career cushioning tactics include monitoring the job market (65.89%), updating CVs (55.43%), and upskilling or training (48.84%).
The rapid development of AI, trends of layoffs in the global job market, and economic uncertainty have made career cushioning a significant trend in Taiwan’s job market in 2024. Over 80% of employees are actively seeking new job opportunities or preparing for career changes to respond to various unexpected career situations and try to minimize potential impacts.
John Winter, Country Manager of Robert Walters Taiwan, highlighted, “Currently, professionals are acutely aware of their job satisfaction and the external environment. Whether it is the difficulties organizations face due to economic conditions or the possibility of their jobs being replaced by AI, they are keenly observing and reacting accordingly.”
Cushioning tactics in full flow
Professionals are adopting a more proactive attitude towards their careers. Among the common career cushioning tactics, Taiwanese candidates tend to monitor the job market (65.89%), prepare and update their CVs (55.43%), and engage in upskilling or training (48.84%). John Winter further emphasized, “Adequate preparation is always the first step. It can start with simple actions like updating personal resumes and actively browsing job websites. Most importantly, be open to approaches from recruiters who can provide you with valuable insights about the job market in your region/industry.”
Additionally, keeping a close eye on industry trends and in-demand job roles is essential when choosing which skills to train for. Currently, the AI boom has swept across various industries, and it is foreseeable that AI applications will accelerate the digitalization process within organizations, driving the demand for talent in AI and digital tools application, data analysis, and digital transformation. In particular, talent specializing in AI construction and deployment is highly sought after in the market.
| Most common tactics for ‘career cushioning’ | |
| Monitoring jobs market | 65.89% |
| Preparing and updating CV | 55.43% |
| Upskilling / Training | 48.84% |
| Networking more | 44.96% |
| Working with Career Coach or Recruiter | 36.05% |
| Applying for jobs | 36.05% |
| Adopting side-hustle | 12.79% |
More than 40% of Professionals Find Salaries Competitive: Job Satisfaction Extends Beyond Compensation Packages
There is no guarantee that those who engage in ‘career cushioning’ will actually leave their jobs. The old adage holds true: employees researching opportunities elsewhere often realize that the grass isn’t always greener.
According to the survey, low job satisfaction (35.06%) is the leading motivation for professionals to change jobs. The top three aspects that employees value most in their careers are “salary and benefits” (82.95%), “company and team culture” (63.57%), and “career development opportunities” (60.85%). Notably, the same survey reveals that 42.07% of respondents believe their personal salary is competitive, and 16.61% state that their current salary is above the market average. This indicates that salary may not be the primary reason for low job satisfaction. The less visible factors of “company and team culture” and “career development opportunities” might also have a significant and profound impact.
“Valuing company and team culture is no longer exclusive to Generation Z. Our survey shows that, regardless of age group, company and team culture consistently remain among the top three priorities for employees. To attract and retain top talent, companies need to offer a comprehensive and appealing work environment. This involves promoting their benefits policies, flexible working arrangements, career development opportunities, and support systems.” John Winter, Country Manager of Robert Walters Taiwan highlighted.
“Career cushioning needn’t always be looked at as a negative by employers, in many cases it can lead to employees upskilling, being more determined to succeed or engaging in more networking – bringing greater value to the business.”
