90% Thai employees seek new jobs despite bleak economy

Students at Assumption University looking for job opportunities at "Career Week", Image courtesy of Beryl8, Facebook

A significant majority of Thai workers are open to exploring new job opportunities despite an uncertain global economic climate, a recent study by recruitment firm Michael Page has found. The Talent Trends report, which surveyed 942 individuals in Thailand, revealed that over half of the respondents are actively seeking or planning to find new employment within the next six months.

The study also found that 33% of participants are unsure about whether to search for a new job, but it is predicted that job hunting will continue to rise this year, despite increasing volatility in the global economy.

The recruitment agency observed that the willingness to consider new opportunities has not been affected by the worsening global economic outlook. Instead, there is a direct link between poor economic performance and an increased desire to look for a new job.

According to the research, following a high level of career migration during and after the pandemic, individuals are now focused on finding job opportunities that best align with their personal needs and aspirations, in pursuit of their ideal work-life balance.

Kristoffer Paludan, regional director at Michael Page, said…

“Employees are 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, diversity, equity and inclusion.”

The study’s data indicates that this shift in priorities is not solely a consequence of the pandemic, but rather a broader evolution of talent expectations. Employees no longer expect to remain in a role indefinitely, but instead, they expect their employers to deliver in areas that matter most to them.

The report also revealed that job satisfaction is becoming less important, as career success is no longer the primary focus. Six out of 10 respondents would prioritise mental health and work-life balance over career success, which they defined as having a good salary (51%) and job satisfaction (49%).

Work-life balance has emerged as the most significant factor influencing job satisfaction, surpassing pay, training and development, free lunches, gym memberships or other perks. In fact, 42% of respondents would be willing to turn down a promotion if they believed it would negatively impact their well-being.

The top job satisfaction factors for employees in Thailand include work-life balance (48%), salary (42%), and career progression (40%), reported Bangkok Post.

Paludan emphasised the importance of employers addressing these priorities, stating…

“Employers will need to ensure that the fundamentals, salary, career progression, talent development, clear company values and purpose, and flexibility, are in place and well communicated.”

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Alex Morgan

Alex is a 42-year-old former corporate executive and business consultant with a degree in business administration. Boasting over 15 years of experience working in various industries, including technology, finance, and marketing, Alex has acquired in-depth knowledge about business strategies, management principles, and market trends. In recent years, Alex has transitioned into writing business articles and providing expert commentary on business-related issues. Fluent in English and proficient in data analysis, Alex strives to deliver well-researched and insightful content to readers, combining practical experience with a keen analytical eye to offer valuable perspectives on the ever-evolving business landscape.