Open a Recruitment Company in Taiwan
Updated on Monday 05th August 2019
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A recruitment company in Taiwan is established with the purpose of selecting the persons seeking for a job opportunity in this country, who apply for the available job openings listed by companies operating here or in other jurisdictions. Investors who want to open a company in Taiwan as a recruitment agency are required to hire recruitment specialists, who are trained in the field of human resources.
Nowadays, recruitment companies carry out their business activities in the online environment and most of the job openings are presented on the company’s online platform. Most of the recruitment companies provide the possibility for those seeking for employment in Taiwan to create an account on such platforms and apply directly through it for various job openings that correspond with their level of expertise and field of activity.
Our team of consultants in company registration in Taiwan can represent investors during the incorporation of the business, and may also assist with information on how to purchase a domain name for a local website. Investors can receive professional assistance on the documents that have to be prepared when registering with the local authorities; our representatives can also offer in-depth advice on the licensing requirements applicable for a local company.
What is the purpose of a recruitment company in Taiwan?
A recruitment company in Taiwan can assist not only the persons seeking to be employed in various enterprises, but it can also provide professional assistance to companies searching for suitable workforce. At the same time, a recruitment company in Taiwan may assist foreign workforce in finding employment in this country.
A recruitment agency may also specialize in specific business sectors and it can engage in headhunting activities. The term defines a recruitment procedure through which the recruitment agency searches for a specific type of employee needed in a given company, who is currently working in another company.
This type of activity can also be performed by the human resources department of the company searching for a new employee, but it is generally outsourced to recruitment agencies. As a general rule, this type of activity is developed only for top positions (directors, managers and so on).
What are the characteristics of the employment market in Taiwan?
Each employment market has its own characteristics. In Taiwan, the employment sector is mainly driven by a high demand of employees in the technology sector. The country’s total population is of more than 23 million, out of which, the labor force is comprised of 11,87 million persons; our team of specialists in company formation in Taiwan can present in-depth details on the employment legislation applicable here. Those wishing to start a recruitment company in Taiwan should consider the below mentioned aspects:
- the demand for employees in Taiwan increased in 2017 by 20% in the sales sector;
- the procurement and the supply chain sectors increased by 10%;
- other sectors expanded as follows: 15% - marketing sector, 15% - engineering and manufacturing, 12% - human resources;
- starting with 1st of January 2019, the monthly minimum wage in Taiwan is of NT$23,100 (and NT$150 per hour);
- at the level of June 2019, the unemployment rate in Taiwan stood at 3,73%;
- at the level of June 2019, there were 62,597 persons searching for job openings in Taiwan.
What is the situation of foreign workers in Taiwan?
The employment market in Taiwan is also comprised by foreign employees, who can search for employment here through recruitment agencies. Our team of specialists in company registration in Taiwan can provide in-depth assistance on the employment contracts that are available here and may also advise on the regulations that can be addressed to foreign workers, based on the economic activity they will start here. With regards to the foreign employment market in Taiwan, the following apply:
- at the level of 2004, Taiwan registered a total of 314,034 foreign employees;
- in 2010, the foreign workforce increased, reaching 379,653 employees;
- at the end of 2018, Taiwan had 706,950 foreign employees working on the local market;
- according to the Workforce Development Agency, out of these, 323,327 persons were represented by men in 2018;
- at the end of 2018, there were more foreign women working in Taiwan than men (accounting for 384,627 persons).
One of the main rules of law regulating the employment activities carried out here is the Employment Services Act, which falls under the supervision of the Ministry of Labor. Employment is also regulated under the Labor Standards Act and investors are invited to contact our team of specialists in company registration in Taiwan for information regarding these rules of law.