Thai employees likely to seek new jobs if their salaries remain unchanged: survey
Nearly 73% of job holders in Thailand said they will start looking for new openings if their salaries are not raised soon.
This was revealed in the Salary Survey 2023 released by recruitment consultancy Robert Walters on November 29. The study analysed salary trends and provided insights into Thailand’s recruitment situation in 2022 and provided predictions for 2023.
The survey, conducted in September, covered 460 respondents, 60% of whom were 40-45 in age and more than 87% held permanent jobs.
According to the report, inflationary pressure will play a key role in Thailand’s recruitment situation next year. It showed that nearly 72% of Thai professionals will seek new job opportunities if their wages are not lifted above the inflation level, while 73% of employers have said that inflation is the key factor when it comes to giving their personnel pay rises.
Meanwhile, people in several sectors have said they expect an increase in their salaries next year. For example, 94% of people in the fields of accounting and finance, 91% in procurement and supply chain and 90% in engineering and manufacturing expect a raise in 2023, the report showed.
The report also predicted that people with digital literacy have a competitive advantage when it comes to raises or recruitment. Meanwhile, workers with a “plug-and-play” skill set – skills that can be transferred when employees change their line of work – are likely to get increments of 15-30%.
Fresh talent, however, can expect their wages to be raised by 15% based on their potential, while existing employees can possibly get a 2-5% increase or 10-15% in case they are promoted.
Punyanuch Sirisawadwattana, country manager at Robert Walters Thailand, said there is a high level of competition in Thailand’s job market this year due to an imbalance in talent demand and supply.
She said that demand from 2021 and 2022 has accumulated, while the size of the talent pool has remained the same, especially since many expatriates left the country during the Covid-19 pandemic.
Hence, she said, companies need to make appealing offers to attract talented workers.
Apart from offering better salary packages, Robert Walters also advises companies to offer flexibility and portray a clear company goal to motivate their personnel to stay on.
The survey also showed that in 2022, most people prioritised spending time with family and friends over excellent compensation and benefits of work challenges.
Conversely, in 2023, “inspiring colleagues and culture” is the issue that professionals in almost every field value the most.
Robert Walters has been surveying the hiring trend for more than 20 years, and this year's survey is its 24th edition. It has run its recruitment business for 37 years, with its services available in 31 countries.
