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Most commonly, they are monitoring the job market (65.89%), preparing and updating CVs (55.43%), and upskilling or training (48.84%).
A new phenomenon called 'career cushioning' has emerged as the latest trend in the job market amidst rapid AI development, layoffs in the global job market, and the unclear economic situation, according to the latest survey by Robert Walters Taiwan.
As defined, career cushioning is a strategic approach that involves taking proactive steps to prepare for potential job changes or market shifts. This aims to soften the blow should anything go wrong with one’s current job, minimise potential impacts, and ensure a sense of stability and security in one's career.
The survey revealed that this phenomenon has also grown in the Taiwanese job market, with over 80% of respondents actively seeking new job opportunities or preparing for a career change in the first half of 2024.
The main motivations for job switching are:
- low job satisfaction (35.06%),
- economic instability (19.93%), and
- lack of job security (15.87%).
Only 18.45% of workers have no plans to switch jobs, indicating that more than a third of Taiwanese workers lack confidence in their current employment situation.
According to the survey, 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%).
Noteworthily, two in five (42.07%) respondents believed their personal salary is competitive, and 16.61% stated that their current salary is above the market average. This indicates that salary may not be the main 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.
Among the common career cushioning tactics, Taiwanese candidates tend to use more of:
- monitoring the jobs market (65.89%)
- preparing and updating CVs (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%)
The survey, however, highlighted that career cushioning is not necessarily to be looked at as a negative by employers. There is no guarantee that those 'career cushioning' will leave. Employees researching opportunities elsewhere can often illustrate to them that the grass isn't always greener.
“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,” said John Winter, Country Manager of Robert Walters Taiwan.
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