This recent study by specialist recruiters Michael Page Thailand has 942 workers participating from Thailand and reveals that 1 in 2 employees have changed roles since the pandemic started. This data indicates a fundamental shift in the workforce’s relationship with their jobs, leading to an “Invisible Revolution” characterised by a more transactional approach to work.
According to the Michael Page Thailand Talent Trends 2023 report titled “The Invisible Revolution”, the pace of change is accelerating. An astonishing 9 in 10 Thais who started a new job last year are open to new opportunities. A flexible mindset towards career progression has become the new norm, with the majority viewing job transitions as a regular part of their employment journey.
In light of this ongoing observation, Kristoffer Paludan, Regional Director of Michael Page Thailand says, “89% of all employees in Thailand are open to considering new opportunities. Even generally happy employees will explore new career prospects. Thai employees are now seeking a more comprehensive package – attractive salaries, flexibility, career growth, frequent recognition and a work culture that aligns with their values in a range of areas, including sustainability, and diversity, equity and inclusion.”
The correlation between the economy and job-seeking behaviour is becoming more apparent. In fact, 67% of the population are more likely to seek a new job when the economic environment deteriorates. However, this openness will not necessarily convert into job applications. After a high volume of career migration during and after the pandemic, people now focus on finding employment opportunities that best meet their individual ambitions and fulfil their vision of an ideal work-life balance.
Nicholas Kirk, CEO at PageGroup, said, “The trends in Thailand mirror the sentiment of the global talent market – every region has seen a transformative change across all age groups, markets, and industries.
“These are not fleeting trends or reactionary responses to a period of turbulence. Rather, they are reshaping the workplace in a way that will subtly yet fundamentally change the way businesses attract and retain their talent.”
The latest findings have brought forth a pressing need for corporations in Thailand to reassess their talent strategies, as the job market experiences a profound transformation. To attract and retain the best talent, employers must do more than just adapt to these shifting dynamics. By aligning their approaches with the evolving workforce, businesses can position themselves as desirable employers and foster a competitive advantage in the ever-changing job landscape.