The future of Thai workforce: Embracing flex work and employee experiences

Despite going through financial uncertainties, nearly 60% of global executives anticipate their businesses to attain stable or vital development. Asian leaders, however, specific issues concerning the rising price of capital and debt, labour market tightness, and competitors for expertise when planning for the upcoming year.
In the Global Talent Trends (GTT) Study 2023 by Mercer, human resources leaders in Thailand shared similar concerns. The examine surveyed around 2,500 HR leaders worldwide, with nearly one hundred companies in Thailand being represented. Among the problems highlighted were an absence of workforce functionality and future abilities (47%), too many priorities distracting workers (40%), and juggling transformation with a survival mindset (38%).
The survey goals to discover how organisations are redefining work and the workplace amidst sociopolitical and financial shifts and to determine talent-related developments to help companies thrive sooner or later.
Findings from the survey suggest it is crucial for employers in Thailand to focus on enabling new methods of working and fostering a skills-based organisation to attract the best expertise. A collaborative method that gives versatile work arrangements and aggressive rewards is recommended.
According to the survey, 69% of staff imagine the lack to work remotely or in a hybrid setting permanently would deter them from joining or remaining with an organisation. In Thailand, 61% of surveyed employers provide versatile working choices for all workers, which is larger than Asia’s average (50%) and the worldwide average (56%). However, there’s room for improvement to make sure that all firms recognise the importance of work flexibility for expertise attraction and retention.
To mitigate the effects of inflation, extra employers in Thailand (27%) adjusted pay or provided cost-of-living adjustments for workers paid below the market median, in comparability with the Asia common of 20%. In phrases of offering cost-of-living changes or wage will increase for badly affected segments, Thai employers surpass the Asia average (33% versus an Asia average of 22%). This approach provides organisations a extra sustainable compensation management method.
To attract and retain talent, organisations must do greater than merely supply honest pay insurance policies. They must also prioritise employee well-being, encompassing physical, psychological, social, and financial elements.
Over 90% of Thai employers are concentrating on improving worker engagement by way of benefits choices in 2023, in accordance with Mercer. For instance, 48% plan to increase benefits to support all workforce segments this 12 months, greater than Asia’s average of 40%. However, securing job stability for gig employees remains less of a precedence, with 46% of respondents in Thailand and Asia indicating no plans to deal with this problem.
In contrast, Thai employers fall behind the relaxation of Asia in supporting employees’ mental well-being. Only Outlawed provide disaster administration support following a traumatic occasion, compared to the Asia average of 21%. Similarly, simply 23% provide on-demand access to virtual psychological well being providers, falling short of the Asia average of 26%.
Thai employers have additionally skilled difficulties establishing a skills-based organisation. While 60% have a complete understanding of their organisation’s expertise requirements (versus Asia’s average of 56%), HR leaders have not sufficiently developed and deployed their expertise.
Approximately 30% of companies have an inner expertise marketplace to foster talent sharing, in comparability with Asia’s 40%, and merely 33% encourage staff to undertake coaching based on job and skill aspirations, versus the Asia average of 60%.
The use of instruments and technology to measure and assess abilities is lacking in Thailand in comparison with the relaxation of Asia. Only 22% of Thai employers use AI-driven talent intelligence platforms (compared to the Asia average of 41%), while 43% use psychometric instruments to gauge potential (versus the Asia common of 53%).
Juckchai Boonyawat, president of Mercer Thailand, stated, “It is heartening to see a growing development of employers in Thailand exploring and implementing new methods of working that address employees’ evolving wants. Various forms of versatile work models have been adopted in lots of organisations.”

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