Amid talent shortages in the labor market, companies must devise diverse, effective recruitment strategies and stay informed of market salary benchmarks to ensure competitive compensation packages. In 2024, LRS, ConBiz, and Taiwan's prominent SaaS cloud service platform, MAYOHR, collaborated to produce the 2024 Industry Salary Trends and Outlook Report, focusing on key salary insights across four major industries and cross-functional roles. This report also includes analyses and recommendations from experienced cross-strait HR experts, including consultant Lin Juan and other industry representatives, offering guidance for employers and HR teams seeking to create more competitive pay structures in a challenging hiring market. Key industry highlights:

1.Healthcare & Life Sciences: With rising market demand, companies aim to reinstate flexible work policies to strengthen team cohesion. To attract essential external talent, employers are offering salary adjustments between 15-20%.
2.Fast-Moving Consumer Goods (FMCG): This sector faces intense competition, short product cycles, and an increase in digital transformation roles. Employer branding and work-life balance are vital for attracting younger talent, with average salary adjustments for key roles ranging from 10-15%.
3.Food & Beverage: As the sector expands rapidly, welcoming new foreign brands amid a low birth rate and workforce challenges, employers face issues with salary structures, work hours, and flexible staffing options, intensified by talent loss during the pandemic without post-pandemic recovery.
4.Technology: Demand for tech talent remains high. As the economy recovers, companies are offering competitive salaries to secure scarce expertise in this sector.
5.Support Functions: With the market constantly evolving, 2023 saw salary growth in business and corporate finance begin to stabilize. Candidates are now recognizing that substantial salary increases with each job switch are no longer guaranteed, necessitating a more balanced view on compensation expectations and career development.

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