Although the overall economic situation, including the global economy and the Thai economy, has improved according to the situation of the COVID-19 epidemic. which reduced the violence But the employment situation is not normal. The labor market has not returned to equilibrium in some occupations. and some jobs are still needed “employee” lots of
while the cost of living factor And rising inflation this year has made wage increases a factor among employee expectations. Although the employer’s position is to use wage increases to fight inflation to help motivate employees to continue working with the organization without moving out of the organization.
Robert Walters, Global Employment ConsultantRevealed the results of the annual salary survey for 2023, conducted for the 24th time by questioning private companies in 8 industries, in Bangkok, its surroundings and in the Eastern Economic Development Zone (EEC).
Punyanuch Sirisawatwattana Robert Walters Thailand Manager According to the results of the survey, the trend (tendency) of employment in 2023, employees with digital skills are still in demand in the employment market. At the same time, employers must make compensation and benefits competitive in order to maintain employment among these small numbers of workers.
The survey found that companies in Thailand are increasingly focusing on technical skills in technology such as cyber security and digital transformation. As the country moves towards a fully digital nation, hybrid skills and technology expertise are still in demand.
Although employees are still committed to upgrading their capabilities. open to learning And it will be necessary to constantly follow trends and technology as well. Employees with excellent leadership skills and the ability to coach managers and teams will be in high demand as companies seek to fill senior vacancies. Employees with high flexibility flexible And there will be higher and higher demand for emotional intelligence.
In 2023, workers who move to new jobs and already have digital skills. (Can start work without new training) receive a salary increase of around 15 – 30% at the same time. Fresh graduates or candidates with excellent potential can expect a salary increase of up to 15% from regular employment. In the case of general workers in the company Salary increases on average 2-5% and 10-15% for those who are promoted.
Among highly skilled workers looking to leave to change workplaces, many companies have made counter-offers to retain talent, leading to higher expectations of candidates as companies try to find them willing to pay more to get them.
“Competition for highly skilled workers will intensify in 2023 due to the imbalance in terms of vacancies and the number of people available in the market. In addition, a group of foreign workers have traveled back to the country during the outbreak of COVID-19. Causing the demand for workers that has accumulated since 2021 and 2022 to increase.
Punyanuch said that in the matter of fierce competition for workers in 2023, he will be in the technology business group. Sales and marketing top the list There has also been steady growth in sustainability since 2022 as many large companies have set up divisions and started new initiatives focused on implementing ESG (Environmental, Social and Governance) practices the they are expected to do so. continue to grow
For the issue of cost of living and rising inflation. Pressure on companies to arrange pay packages in line with market pay rates in 2023
According to the survey, 72% of employers see rising inflation as a pressure on business and costs. Conversely, 82% of employees expect employers to consider rising living costs when evaluating pay rises or bonuses during the 12 months next And almost 73% of workers will find a new job if the pay rise does not exceed rising inflation levels.
In 2023, over 92% of surveyed companies are likely to increase their wages. Especially at manager and executive level. Most expect a pay rise of between 1-5%, while 27% of managers are likely to receive a pay rise of between 6-10%.
Punyanuch went on to say that employee retention is a priority for employers in the highly competitive labor market. More than 84% of companies are concerned about the lack of skills and talent specific to their industry, and more than 77% see the lack at senior/team leader and manager level. The survey also showed that 9 out of 10 companies focus on upskilling their existing internal staff, with the majority focusing on internal training More than 79% of companies have a staff retention strategy.
This includes better learning and better development. and a hybrid operating policy together with improving welfare and welfare care as well as reviewing rates of pay and promotion beyond normal periods. This is particularly important as almost 40% of skilled workers currently in their jobs are looking for new opportunities, with over 53% indicating career development.
“Companies need to focus on employee retention because the demand for talent will always outstrip the supply. It’s important to recognize that recruiting new employees is more costly than retaining existing employees, so make sure employee goals align with organizational goals. and make them feel valued Get a new challenge and be motivated to stay,” Punyanuch said.
In addition, interesting information from this survey found that Employees focus on clear job goals. job satisfaction and flexibility in working By being more considerate when relocating jobs after the COVID-19 pandemic. Brings the importance of quality of family life and socializing with friends over work. Employees are looking for clearer career goals and a more fulfilling job. Including flexibility at work
The top 3 that employees value their employer the most are:
– Colleagues and culture that inspire them to do their best work (47%)
– Flexible working (40%)
– Competitive advantages and benefits (59%)
Other factors include Open and efficient management Job security And companies that value and practice diversity and inclusion are also important to employees.
“We have already seen this trend emerge in 2022, with some workers leaving companies with a hybrid working model for companies that offer full flexibility in their work schedules. This goes against the expectations and requirements of companies that require their employees to work in the office two or three days a week. These days it is becoming more and more difficult to find employees who are willing to work full time in the office.”