taland employment utlook - michael page thailand · 2019-11-06 · strong partnerships push...

Part of PageGroupwww.michaelpage.co.th

Thailand Employment Outlook

AboutThe Michael Page Employment Outlook is our annual market report developed to provide hiring managers and candidates with an overview of market trends, hiring demands and job seekers’ sentiments within each industry.

This year’s Michael Page Employment Outlook is available in 13 markets across the Asia-Pacific region: Australia, Hong Kong, India, Indonesia, Japan, Mainland China, Malaysia, New Zealand, Philippines, Singapore, Taiwan, Thailand and Vietnam.

Report methodologyThe Michael Page Salary Benchmark is derived from 1,000 data points in our proprietary data and network in Thailand, which includes job advertisements and placements made between July 2018 and June 2019, incorporating salary projections for 2020, the Job Applicant Confidence Index, insights from our business leaders, our recruiters’ interactions with companies and industry professionals, as well as other supplemental information from our various studies were also taken into consideration.

Michael Page Thailand Employment Outlook 2020 | 2

Job Applicant Confidence Index ................................................. 5

Infographic: What is the Thailand workforce thinking? ................. 6

Business Services ...................................................................... 8

Fast Moving Consumer Goods (FMCG) & Retail ......................... 9

Healthcare & Life Sciences ....................................................... 10

Industrial ................................................................................... 11

Property & Construction ........................................................... 12

Technology ................................................................................13

Transport & Distribution .............................................................14

Contents


Strong partnerships push Thailand further forward

The Kingdom of Thailand enters a brand-new decade in strong shape in terms of its business fundamentals. Despite some clouds on the horizon globally, Michael Page is excited to help our customers to further benefit from the prospects ahead. This is bolstered by strong macro-economic fundamentals in Thailand, including a 4% growth forecast (off the back of a 3.3% 10-year average), and record-low inflation and unemployment — plus the government’s business-friendly agenda, bolstered by the Thailand 4.0 drive. This public-private sector initiative is helping to see the Kingdom move up the economic value-chain, and ushering in further exciting investments in digitalisation, AI, agritech, infrastructure, manufacturing and automation.

Amidst this climate, Technology and Digital are fast-moving disciplines, and the ones we see to enjoy strong potential in 2020 and beyond. In line with this, this year’s Salary Benchmark takes a close look at Employee Experience (EX): and indeed, for clients competing for Thailand’s most in-demand profiles in Technology and Digital realms, it is wise to think carefully about your offering.

While compensation is always important, for established brand and start-ups alike, equally critical will be you as a manager, your ability to tell a strong company story, as well as to help candidates understand where their career could fit within the next chapter of your business journey. And of course, having garnered their interest, it’s key that you can move fast to confirm them.

Likewise, for those candidates eyeing the market for new job prospects, particularly Thai nationals returning to the market, we hope this report can be the beginning of a fruitful discussion with Michael Page, and an extremely successful decade ahead.

Technology and Digital are fast-moving disciplines, and the ones we see to enjoy strong potential in 2020 and beyond.Kristoffer PaludanRegional DirectorMichael Page Thailand


58% ARE INCLINED TO WORK OVERSEAS IN 202076% BELIEVE THEY WILL TAKE LESS THAN THREE MONTHS TO FIND A NEW JOB vs 77% in 2019

66% FORESEE THEMSELVES HAVING BETTER CAREER PROGRESSION IN 2020 vs 71% in 2019

79% ARE POSITIVE ABOUT THE JOB MARKET vs 79% in 2019

A measure of how optimistic job applicants in Thailand are about the job market.

THE MICHAEL PAGE JOB APPLICANT CONFIDENCE INDEX


What is the Thailand workforce thinking?

63%55%

of the Thailand workforce feel they have maximum autonomy at work

rate their contributions as highly impactful

of professionals in Thailand feel they have no freedom to have a break during work hours

of professionals in Thailand reportedly work in a

with the following top traits:

Problem solving

Collaborative

Accountability

87%HARMONIOUS WORKPLACE

PROFIT AND REVENUE

Having a CLEAR DIRECTION AND VISION

63% 97%

OBJECTIVES OF A LEADERSHIP TEAM

MOST IMPORTANT

LEAST IMPORTANT

PROFESSIONAL DEVELOPMENT

34%of respondents feel their potential was not maximised

30%of the Thailand workforce say their company neglected their professional coaching and development

of Thailand professionals feel their COMPANY IS BEHIND IN DIGITAL TRANSFORMATION

30%

32%


claim they WOULD GIVE THE MANAGEMENT HEADS UP before their official resignation as well as their HONEST REASONS for leaving

95%TOP CONSIDERATIONS WHEN ACCEPTING A NEW JOB5

Work culture and team dynamics

New challenges and industry exposure

Maximisation of skills and abilities

Employee benefits

Monetary benefits

1

2

3

4

5

Training and development plans were scheduled

A monetary raise was offered

A promotion in job title was offered

Employee engagement was strengthened

Training and development plans were scheduled

A promotion in job title was offered

SAYING GOODBYE

Here are the top factors:

A better opportunity somewhere else

Unhealthy work culture

Skills and abilities not put to good use

1

2

3

94% do not consider unsatisfactory monetary benefits as the top decision to leave their job

GEN X

MILLENNIALS

1

2

3

Communication

Change management

MOST IMPORTANT SOFT SKILLS

Conflict management

23% of respondentsstate that the management team did not get to know them on a personal level

UNFAIRLY APPRAISED 18% feel they were

RETENTIONRespondents say they would have stayed in their last company if

respondents born between 1965 and 1980

respondents born between 1981 and 1996


Business Services

Top 3 hiring trends

Trending skills

Most active hiring functions

Positions in Demand

• Finance

• Accounting

• Digital Marketing

• Sales

• Supply Chain

1. Growth spike in the transportation industry following investments from local and regional businesses.

2. Foreign investments in Thailand are driving demand for tax, legal, accountancy and legislative services talent.

3. Local and international businesses are tapping into digital agencies to connect with millennial consumers.

Compliance and regulation

Transportation and logistics

Digital media and analytics

DigitalSupply Chain FinanceMarketing

average salary increase when switching jobs

within similar industries

15-20%


Top 3 hiring trends

Trending skills

EngineeringSalesMarketing Human Resources

Positions in Demand

• Country Management

• Business Development

• Key Account Management

• Digital

• Supply Chain

Digital and e-commerce

Leadership skills for women in engineering

and supply chain functions

Driving supply chain efficiency


1. E-commerce growth is driving FMCG businesses to adopt omnichannel strategies when acquiring new customers.

2. Disposable income of middle-class consumers is growing at a faster rate as compared to those in developed countries.

3. Health-conscious consumers are driving up demand for health and wellness products.



15-20%

Fast Moving Consumer Goods (FMCG) & Retail


Top 3 hiring trends

Trending skills


Quality assuranceTechnologySales Healthcare practitioners

Positions in Demand



18-22%• Regulatory Affairs

• Project Management

• Operations

• Sales

• Quality Management & Demand Planning

1. The move towards leaner, more collaborative teams means that candidates must have good commercial skills.

2. Private hospitals to grow medical tourism arrivals by attracting more foreign patients.

3. New hospitals are driving demand for medical equipment, 80% of the supply is being imported from outside Thailand.

Regulatory affairs

Strong project management

Driving sales efficiencies

Healthcare & Life Sciences


Top 3 hiring trends

Trending skills


Human ResourcesTechnical SalesFinance & Accounting

Supply Chain & Engineering

Positions in Demand

• Sales


• Plant Management

• Supply Chain

• Finance & Accounting

1. Government incentives are expected to drive adoption of electric vehicles in the market.

2. Government effort to drive industrial growth is increasing demand for new talent and innovations.

3. Investments in the renewable energy sector bolstered by the Thai government’s initiatives.

Technical knowledge and skills

Strong commercial

acumen

Modern leadership qualities

Industrial



12-17%


Top 3 hiring trends

1. Mega projects (new highways, railways, airport expansions) are driving growth prospects and increasing hiring opportunities.

2. Residential properties are recovering with mixed-use developments as a selling point. Candidates with related experience will be sought after.

3. New-age retail centres that blend leisure, shopping, F&B and work are increasingly popular.

Property & Construction

Eco-friendly buildings

Trending skills


Positions in Demand

• General Management

• Design

• Asset Management

• Project Management

• Environment, Health & Safety

Project EstimationDesignProject Management Engineering

Knowledge of high-rise buildings

Mixed development

projects



17-20%


Top 3 hiring trends

Trending skills


Positions in Demand

• Digital

• Infrastructure

• Cybersecurity

• Front End & Mobile Development

• Core Engineering

1. Local companies are embracing emerging technologies as part of Thailand’s push towards a digital future.

2. Demand for disruptive innovation is driving up potential salaries for prospective candidates.

3. Thailand continues its migration from an industry-driven economy to a technology-centric one.

Artificial Intelligence (AI)

& Big Data

Internet of Things (IoT)

New software technologies

across mobile platforms

Technology



25-30%

TechnologySalesDigital Marketing


Top 3 hiring trends

Trending skills


LogisticsFinance Procurement & Supply Chain

Sales

Positions in Demand

• Logistics

• Trade Compliance

• Supply Chain


• Demand Planning

1. FMCG, retail and e-commerce are driving up demand for freight-forwarding services.

2. Transport and distribution industries remain highly fragmented for both local and international players.

3. Local and international investments will drive down logistics cost by as much as 12% by 2021.

Warehouse automation

Board of Investment

and Freezone competency

Trade compliance

Transport & Distribution



15-20%


THAILAND689 Bhiraj Tower at EmQuartier 41st Floor Unit 4108 – 4109 Sukhumvit Road (Soi 35), North Klongton, Vadhana, Bangkok, 10110 Thailand T +66 (0) 2 012 5000 [email protected]

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taland employment utlook - michael page thailand · 2019-11-06 · strong partnerships push...

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