TAIPEI (TVBS News) — The Ministry of Labor (MOL) reported on Tuesday (Dec. 26) that the number of furloughed workers had surged by 9935, an increase of 359 people from the preceding period, with the manufacturing industry recording the highest percentage of furloughed workers, accounting for approximately 90%.
The labor ministry's latest data also predicted a significant labor demand in the accommodation and food services industry and the wholesale and retail trade sector for the first quarter of 2024. An estimated 5,000 people are expected to join these industries.
The global labor shortage crisis has pressured businesses to retain their employees, especially with the year-end approaching, when employees might consider shifting jobs. Food and retail sectors, in particular, are grappling the most with labor shortages.
Beleaguered industries are implementing solutions such as cross-training, allowing employees to perform multiple functions and thereby boosting productivity.
The Regent Taipei, for instance, has successfully minimized its labor shortage rate from 20% down to a mere 5% through cross-training. Among the measures employed included roping in counter staff to assist with cleaning tasks, sweetened with additional bonuses.
In related news, the keys to employee retention are believed to be fair wages and a positive work environment. Even a pay raise might be ineffective in retaining employees if they are discontent with their work environment.