Every couple of decades, the jobs market goes through a cycle where we see a massive increase in demand for skilled workers in certain industries while other sectors see the opposite effect. That is exactly the trend that we are seeing in Thailand, which we expect will continue for many years to come.
Advancements in modern technology, globalisation, and various other factors are pushing Thailand’s job market into unforeseen territory. And that’s great news for you as it could be the right time to think about your next career move.
In this article, we’re taking a closer look at how Thailand’s job market is changing, the reasons behind the shift, and what this means for candidates looking to enter this new jobs market.
5 Factors spurring recruitment in Thailand
There are many different factors that have played a crucial role in changing the job market in Thailand. In the section below, we will take a look at the top five.
- Rising demand for skilled candidates
As companies all over Thailand grow and start moving towards the digital space, the need for skilled workers to fulfil the new unique needs of these companies rises, which in turn increases the demand for skilled candidates.
Bear in mind, however, that increased demand doesn’t always translate to higher compensation or better progression – or even development! Business budgets and salary bandings are often fixed but monetary compensation is not all you can gain from a career shift. Consider whether the role in question is a “Learn” or “Earn” opportunity, both have value if you go in aware of what you’re getting out of the situation.
Many may be hugely tempted to go for Earn rather than learn. However, skipping over an opportunity that offers you an investment in your skills and personal development for a higher wage package can mean pressure to deliver straight away. It is usually a safer option to look for those employers that want to put time and effort into your skills and growth and understand that everyone is on a learning curve.
If you’re current role doesn’t offer any opportunity for growth, consider reaching out to a specialist recruiter like JacksonGrant who can help you identify and reach out to employers who have a culture of investment in their employee’s personal development.
- Increased interest from overseas businesses to set up in Thailand
Connected to the point above, increased interest from overseas businesses to set up a manufacturing base or satellite office in Thailand has also increased the demand for skilled candidates. Organisations from the EU, US and UK are particularly interested in the wealth of manufacturing opportunities Thailand has to offer. This is great news for individuals that are skilled and experienced in the manufacturing industries who also have exceptional English language skills, as employers are keen on sourcing these skills.
- The unstoppable rise of digitalisation
The current jobs market is seeing a big shift into the digital world. Digitalisation has allowed skilled professionals from Thailand not only to work remotely for businesses in Thailand, but to also work for international clients from all over the world.
This is arguably the biggest benefit to skilled candidates as they have a much wider choice for employment and are not restricted to their own town or city.
- Prioritisation of English and IT skills
Along with digitalisation comes globalisation. The current Thai jobs market is focused on two main skills: English proficiency and IT. With the rise of technology, skilled IT workers are a huge priority for companies. Technological integration is a top priority for modern companies, which is why skilled IT professionals are a must-have for many different industries.
And as we have already mentioned, companies are prioritising candidates with good English skills. Communication is key in this day and age, and employees need to be able to communicate with people in English since it’s one of the most widely spoken languages in the world.
Candidates with in-demand skills might find it difficult to filter through large numbers of job roles to find those which are most relevant to them and their desired career path. This is where JacksonGrant’s specialist consultants can be vital in matching you with roles that suit your skills and experience and that offer you the next step in your career progression.
- Fluctuating unemployment for different age groups and sectors
Typically, mass fluctuation in employment rates for different age groups and sectors is very rare. However, that is exactly what we are seeing in Thailand, which has had a massive impact on the current job market.
Such events typically happen in the event of global crisis, where businesses must remain shut, which forces workers from many different age groups and sectors out of work. We saw such a scenario during the pandemic, but other scenarios that can force such an event would be an economic crash and other unforeseen circumstances.
What does this mean for candidates looking for a job in Thailand?
A changing job market can be scary, but it can actually be a great opportunity - especially for workers that possess those in-demand skills. When the job market changes, it gives people the opportunity to adjust their plans and skills to better fit the market . That way, they have a higher chance of landing in-demand jobs that offer better pay and employment benefits.
There’s no better time than now to start exploring the market for new opportunities and make a change in your career. Aside from the evolving job market, there are many modern technological advancements that make it easier for you to find a job in a new industry or even work for an employer from an entirely different country to Thailand.
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