Discover Thailand’s workforce dynamics along with the hiring trends and strategies. Talent’d, a global workforce sourcing platform, presents key strategies for attracting top talent in Thailand’s job market. Explore the unemployment rate, internet reach, foreign employees, and demographics of the Thai workforce. Learn about industry-specific hiring trends, skills shortages, and the influx of new technologies and companies. Partner with Talent’d, your trusted recruitment partner, to navigate Thailand’s dynamic employment landscape effectively and find the right talent for your organization. Start sourcing with confidence today!
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As the world becomes more interconnected, businesses need to keep up with the latest hiring trends to stay competitive. Thailand is no exception, and in this part, we will explore the latest hiring trends in Thailand that employers need to know.
With a population of over 69 million people and a rapidly growing economy, Thailand has become a popular destination for businesses to expand their operations. However, with this growth comes the need for skilled workers, and employers need to know the latest hiring trends to attract and retain the best talent.
Key Hiring Trends in the Modern Workforce in Thailand
Employers in Thailand are adapting to changing trends in the job market to attract and retain top talent. Here are the main points summarizing the changing trends in the job market and hiring practices of employers in Thailand:
- Focus on Soft Skills: While technical skills are still essential, soft skills such as communication, teamwork, and adaptability are becoming increasingly important. Employers consider these skills when hiring and look for ways to develop them in their current workforce.
- Embrace Remote Work: The COVID-19 pandemic has accelerated the trend towards remote work, and many employers in Thailand are now offering flexible working arrangements. This trend is expected to continue, and employers who embrace remote work will have a competitive advantage in attracting top talent.
- Emphasise Employee Well-Being: Employee well-being is critical for maintaining a happy and productive workforce. Employers in Thailand are recognising this and are offering benefits such as mental health support and flexible working arrangements to support their employees’ well-being.
- Use Technology to Streamline Hiring: Advancements in technology are transforming the hiring process, and employers in Thailand are taking advantage of this trend. From applicant tracking systems to video interviews, technology is making it easier for employers to find and hire the best talent.
- Offer Competitive Salaries and Benefits: As the demand for skilled workers increases, employers in Thailand must offer competitive salaries and benefits to attract and retain top talent. This includes not only base pay but also benefits such as health insurance, retirement plans, and vacation time.
Key Strategies for Attracting Top Talent in Thailand’s Job Market
In Thailand’s competitive job market, attracting top talent is crucial for businesses to thrive. Employers can utilize several strategies to create a positive workplace culture, promote their employer brand, and invest in training and development programs. In this context, here are some important strategies that employers can implement to attract top talent in Thailand:
- Develop a Strong Employer Brand: A strong employer brand is critical for attracting top talent in Thailand’s competitive job market. Employers focus on creating a positive workplace culture and promoting their brand through social media and other channels to attract the best candidates.
- Focus on Upskilling and Reskilling: As the job market evolves, employers in Thailand must focus on upskilling and reskilling their workforce to remain competitive. This means investing in training and development programs that help employees stay relevant and adapt to new technologies and trends.
- Emphasize Corporate Social Responsibility: Corporate social responsibility is becoming increasingly important to job seekers in Thailand. Employers who demonstrate a commitment to social and environmental issues will have an advantage in attracting top talent.
- Utilize Recruitment Agencies: Recruitment agencies can be an excellent resource for employers in Thailand who are struggling to find top talent. These agencies have access to a vast pool of candidates and can help employers find the right fit for their organization.
- Gen-Z Workers & Economy on the Rise: As the economy in Thailand continues to grow, so does the number of young workers entering the job market. Gen-Z workers, those born between 1997 and 2012, are becoming a significant part of the workforce in Thailand. Employers consider the unique needs and expectations of these workers, such as a desire for work-life balance, opportunities for growth and development, and a focus on social and environmental issues.
Unemployment Rate in Thailand
Despite the challenges posed by the pandemic, Thailand’s unemployment rate has remained relatively low. The unemployment rate in Thailand dropped to 1.15% in the fourth quarter of 2022 from 1.23% in the previous quarter.
However, employers are still aware of the potential for job market disruptions and plan accordingly.
Internet Reach In Thailand
With over 50 million internet users, Thailand has a rapidly growing digital economy. In 2022, internet user penetration in Thailand amounted to around 81.1%. This number is forecast to reach around 84% by 2026. Internet accessibility in the country has been developing steadily every year.
In 2022, approximately 56.84 million people had access to the Internet in Thailand. This figure is projected to grow to almost 60 million in 2026. As the figures suggest, the number of internet users has been gradually increasing since 2017.
Employers who embrace technology and digital communication will have a competitive advantage in attracting top talent in Thailand’s evolving job market.
Foreign Employees in Thailand
According to data from the Department of Employment in 2022, there were approximately 2.3 million registered migrant workers in Thailand. Of these, around 1.2 million are from Myanmar, while the rest come from other neighbouring countries such as Cambodia and Laos.
The industries with the highest number of foreign workers in Thailand are manufacturing, construction, and agriculture, followed by the service and hospitality sectors, including tourism.
It is important to note that employers in Thailand are required by law to obtain work permits for foreign employees and to ensure that they are legally allowed to work in the country. Additionally, employers are expected to provide their foreign employees with fair wages, working conditions, and access to social welfare benefits, just as they would for their Thai employees.
To support the integration of foreign workers into the Thai workforce, the government has implemented policies to provide them with language and vocational training, as well as access to healthcare services.
Overall, Thailand recognizes the value that foreign workers bring to the country’s economy and is committed to ensuring that they are treated fairly and given the support they need to thrive in their new work environment.
Demographics of the Thai Workforce
Thailand’s workforce is diverse, with a mix of ages, genders, and ethnicities. Thailand Labour Force Participation Rate increased to 68.8 % in Feb 2023, compared with 68.2 % in the previous month. Thailand Labour Force Participation Rate is updated monthly, available from Jan 2011 to Feb 2023, with an average rate of 69.3 %.
In 2021, approximately 74.3% of males aged 15 years and older were employed in Thailand. In comparison, around 58.5% of females of the same age group were employed. The estimated employment-to-population ratio in Thailand from 2011 to 2021 indicated that females were far less likely to be employed than males.
The statistic shows the distribution of employment in Thailand by economic sector from 2009 to 2019. In 2019, 31.43% of the employees in Thailand were active in the agricultural sector, 22.84% in industry and 45.73% in the service sector.
Regarding language, the official language of Thailand is Thai, and it is the most widely spoken language in the country. However, English is also widely understood, particularly in urban areas and among younger generations. English is used in some business and academic settings, but Thai is still the dominant language in most workplaces.
According to a 2021 survey, the most common languages spoken in Thailand are:
Thai has multiple dialects. The main ones are mutually intelligible:
Employers strive to create an inclusive workplace that values diversity and promotes equal opportunities for all employees.
Industry-Specific Hiring Trends
Hiring trends can vary significantly across industries in Thailand. For example, the tourism industry may prioritise language skills and cultural sensitivity, while the manufacturing industry may prioritise technical skills and experience. Employers research industry-specific hiring trends to attract the best candidates.
Skills Shortages in Thailand’s Workforce
As Thailand’s economy continues to grow, there is a growing demand for skilled workers in industries such as technology and healthcare. Employers are aware of skills shortages and invest in training and development programs to upskill their current workforce and attract new talent.
New Technologies and Companies Entering Thailand
Thailand is attracting a growing number of technology companies and startups, bringing new technologies and innovation to the job market. Thailand’s digital economy will triple in value to $53 billion within four years, the e-Conomy SEA 2020 report compiled by Google, Singapore Sovereign Wealth Fund Temasek and U.S. Consulting firm Bain & Co. estimates. Employers who embrace these new technologies and adapt to changing market trends will have a competitive advantage in attracting top talent.
In conclusion, employers in Thailand should be aware of the unique challenges and opportunities in the evolving job market. This includes considerations such as the rising influence of Gen-Z workers, the stable employment rate, the growing digital economy, the diverse workforce demographics, industry-specific hiring trends, skills shortages, and new technologies and companies entering Thailand. By staying up to date on the latest hiring trends and investing in their workforce, employers can attract and retain top talent in Thailand’s dynamic job market.
The views expressed in this article are the author’s own and do not reflect Talent’d’s views, opinions or policies.