In a rapidly changing world, the way we recruit and find top talent in Thailand is changing just as fast. Therefore, employers in Thailand should always stay up to date and be receptive to the latest things in the HR sector. Let’s predict what trend is going to shape the future of HR recruitment in Thailand in 2023
Gen-Z workers & Economy on the Rise
The traditional model of full-time employment is no longer the only option for candidates. In recent years, the Gen Z economy has exploded, with more and more people opting for short-term or freelance work arrangements.
This growth presents both opportunities and challenges for employers. On the one hand, these workers can be a cost-effective way to fill specific roles or meet spikes in demand; on the other hand, managing a workforce of Gen Z workers can be complicated, and it can be difficult to build a strong employer brand when your workforce is constantly changing.
Diversity, Equity, and Inclusion
Diversity, equity, and inclusion has become a focal point in many HR departments around the globe and this is also true in Asian Countries like Thailand. A diverse workforce is often associated with a more productive workforce, so it’s no wonder that many companies are promoting diversity in their recruitment processes. Not only are the large multinationals operating in Thailand make it very aware about DEI, but also more regional and Thai companies are predicted to follow suit in 2023.
Focus on Retention
Too often companies focus on hiring new people without considering how they might impact their current employees. If a company has high turnover rates or doesn’t offer competitive company benefits, they might need to rethink their strategy. Instead of focusing all your energy on recruitment, focus some of it on improving retention.
Turnover is expensive, so companies are investing in building better relationships with employees to retain them longer. This means better onboarding programs, scheduling flexibility, and opportunities for growth to start making employees feel valued from day one.
Increase of Workforce Analytics
Workforce analytics involves gathering large amounts of data and analyzing it in order to make predictions about future workforce trends and needs. Some HR Experts believe that this practice will become increasingly popular over time due to the importance of accurate forecasting when hiring new employees.
Data analytics in recruiting and hiring processes can be done by collecting information about past employees, such as their performance reviews or exit interviews, as well as current ones (through surveys). The goal is then to analyze this data so that companies can better understand what they need from a new hire before making any decisions about who gets hired next time around!
Renewed Focus on Skill-based Hiring
In a skills-based hiring process, employers will look at the candidates’ abilities, skills and results rather than their resumes or other things like educational background that don’t necessarily affect what they can do for the job. This is an increasingly common trend in the Thailand Job Market that has already swept up many leading employers. Human Resources professionals are stating that skill-based hiring has started to become part of their standard recruitment practice, and that the need for a degree has drastically reduced.
HR professionals use data-driven methods to make decisions about which candidate to hire or how much to offer someone for a position (just to name a few examples). In fact, according to some experts, analytics has already become the “cornerstone” of HR decision-making.
New technologies and Companies entering Thailand
With no secret Thailand is starting to become an attractive place to do business for many multi nationals over the years, and in 2023 this is no exception. With companies like Tesla and many others planning an entrance into Thailand for 2023, the skill set, and employer recruitment challenges will pose an even more headache for some. Qualified candidates who had most often been a small challenge for companies to find, these same candidates will become even more challenging to attract in 2023 and beyond. Big brands with state-of-the-art technologies will bring consumers in Thailand better products, employers will have to adapt with the changing times as well.
Talent Shortage Is Real?
It is. The war for talent is only getting more intense, and companies are feeling the pressure, especially those in the ecommerce and tech industries in Thailand. A recent study by Deloitte found that 58% of companies are struggling to find the right skills, and this number is only going to increase as the economy continues to strengthen. Thus, this rising scarcity in human resources in the following years is projected to get even worse, resulting in higher salaries and more competition for top candidates. So, employers should be prepared for challenging situations by starting to invest more into creative recruiting ideas and methods from now on.
Smart Search Recruitment is Bangkok’s leading executive recruitment consultancy. We serve multinational and local companies, sourcing high-caliber candidates and placing them in mid and senior-level roles. For recruitment service inquiries contact us. We are committed to meet our client’s needs by delivering an exceptional level of service. We have insightful HR resources updated everyday. Please keep in touch with us via our social media.