The global labor market is continuing to heat up in 2024, especially in Thailand. In addition to preparing for government policies to raise the minimum wage, there is a risk of losing personnel within organizations as they receive better offers from competitors. JobsDB by SEEK has revealed changing employment and recruitment trends, highlighting the current demands of job seekers. Employers are advised to understand and adapt, planning recruitment processes that resonate with potential candidates.

Ms. Duangporn Prom-on, Managing Director of JobsDB (Thailand) Co., Ltd. shared insights from the Global Talent Survey, conducted through a website and analysis proprietary to Boston Consulting Group (BCG) and The Network in 2022. This survey provides actionable insights that help employers connect with job seekers more effectively. A total of 90,547 respondents from 160 countries across various industries participated. Additionally, a specific survey focused on the Southeast Asian labor market included 97,324 respondents from six countries in the region, with Thailand contributing 2,636 respondents.

5 High-Demand Job Sectors in Thailand

“The survey results indicate that the current labor market trends in Thailand, Asia, and globally are aligned: job seekers are aware of their demand and possess positive bargaining power. Particularly in Thailand, the recovery from the COVID-19 situation and government economic stimulus measures have led to increased competition in the labor market. Despite a large number of new graduates, organizations are still seeking experienced candidates, which boosts applicants' confidence in their bargaining power. Although Thai respondents reported a lower frequency of job offers compared to the global average, it still reflects a normal frequency overall.

The top five job positions receiving weekly offers are:

1. Digital, Management, Data Analysis, and AI - 37%

2. Media, Arts, and Design - 36%

3. Hospitality and Service - 34%

4. Financial Services - 30%

5. Health and Social Services - 30%

“These five sectors are in high demand as Thailand moves towards a fully digital era. Every business needs personnel who understand their work and are ready to adapt. Notably, all five sectors share common skills in planning, execution, and communication, which are crucial for financial, health, and social factors. It is expected that by 2024, more new digital businesses will emerge in these areas.”

3 Long-Term Motivators to Attract Candidates

This survey not only benefits employers seeking high-demand personnel but also reveals the true desires of job seekers. Employers can leverage this information to enhance their recruitment processes or retain personnel within their organizations through long-term motivators. According to the survey, the top three motivators are:

1. Job security and work-life balance - 77%

2. Working for a reputable company with opportunities for advancement - 55%

3. Desire to own a successful business - 32%

“Seventy-seven percent of Thai respondents desire job security and a good work-life balance, similar to the global average. Following that, 55% want to advance to higher positions, and 32% aspire to have their own business. The primary factors leading to immediate job rejection are compensation and work-life balance; if these are not reasonable, candidates will decline offers immediately. At the same time, these factors are also crucial in deciding to accept job offers, similar to job seekers worldwide. The value of working with a reputable organization or the significance of the job is considered slightly less important.”

Regarding work formats, Thai employers may need to adapt from full-time office work. Current survey results show that personnel are increasingly considering flexible working hours, with a high demand for hybrid working models. Thai respondents are hesitant to return to full-time office work, with only 22% wanting to go back to the office, compared to 35% of global respondents who prefer full-time office work over working from home. Meanwhile, regarding desired working hours, 69% of Thais still want to work 5 days a week, and 21% prefer part-time work.

“If employers are looking for ways to attract candidates that meet their needs, they must offer competitive packages, better salaries and benefits than their previous companies, higher positions, and demonstrate that advancement opportunities are better than before. These three factors can significantly attract candidates, especially those who meet the qualifications employers are looking for, even if they are not actively seeking new jobs. However, such offers can influence their consideration of new job proposals.”

Ms. Duangporn further stated, “In addition to good offers, a positive experience during the application and selection process, as well as the methods and channels that candidates are interested in, also influence their decision-making. If employers or organizations overlook this aspect, it could lead to mistakes. Developing recruitment processes that align with current labor demands can enhance the organization's appeal, as 59% of survey respondents expressed high satisfaction if the recruitment process is smooth and timely, while 35% indicated that negative experiences during the application process are a significant reason for rejecting job offers, even if the offers are attractive.”

Adapting and Improving Recruitment Processes: What Employers Need to Do

“Although the survey indicates that job seekers will have high bargaining power and opportunities to choose job offers, employers should not be overly concerned about negotiations. They should allow candidates to propose and negotiate, providing space and time for decision-making, and follow up for discussions afterward. The recruitment process should not be considered complete at the job offer stage alone.”

“Employers or organizations must understand and adapt, developing processes, improving recruitment strategies, and offers. They should utilize digital solutions for smoother and quicker recruitment. They need to look beyond the popularity of universities and hire 70% of candidates who fit the organization while training the remaining 30%. Unlocking internal talent will make current employees feel valued and less likely to leave in today’s highly competitive labor market,” Ms. Duangporn concluded.

Download JobsDB by SEEK to learn what job seekers wish employers knew about the future of employment and changing recruitment practices at https://th.jobsdb.com/th-th/cms/employer/what-jobseekers-wish-employers-knew/ or follow JobsDB by SEEK for updates and great activities at https://th.jobsdb.com/th/career-advice/.