Thailand’s job market: Insights from Talentvis Thailand on unemployment rates, recruitment scams, and future trends in the industry

Sunsanee Chawantanpipat – Director at Talentvis

The scene of Thailand’s job market is painted with both satisfaction and impending change. As workers express contentment, the looming ‘Great Resignation’ casts a shadow, prompting a closer examination of the challenges faced by both employees and employers, as highlighted by insights from global recruitment agencies. When applying for jobs in Thailand, candidates prioritize a stable job with a good work-life balance, as 68% of tech talent see it as their ideal career path. Moreover, only 18% of tech talent are willing to go back full-time to the office, while 64% prefer hybrid models. This indicates that work-life balance and flexibility are important factors for candidates when considering job opportunities in Thailand. As a pioneering global recruitment agency in Thailand, Talentvis’ global team is able to share insights into Thailand’s job market and the various issues faced and solutions that Thailand’s job market could benefit from.

Contentment Amidst Uncertainties

Workers in Thailand currently find themselves at a crossroads, expressing overall satisfaction with their current employment situations. However, the ominous ‘Great Resignation’ phenomenon grows more significant each day. The surge in living costs has prompted employees to seek higher incomes, compelling employers to proactively retain their invaluable talent. This dichotomy of contentment and impending change underscores the complex nature of the Thai job market.

According to recent data, the inflation has increased in Thailand by over 4% in the last few years, exacerbating the financial concerns of workers and driving the need for higher incomes. This economic pressure, combined with the desire for upskilling among Thai workers, has become a driving force for change.

The Quest for Career Advancement

The thirst for career advancement and continual learning among Thai workers is growing. A desire for personal and professional growth has become a driving force, with employees seeking opportunities for skill development. However, a significant 30% contemplate job changes in 2023. Uncertainties around acquiring new skills and the looming impact of AI on traditional roles contribute to this shift in focus.

.In response to the competitive business landscape that mandates continuous professional development, learning has moved from being optional to an absolute necessity. Talentvis Academy, an initiative designed by Talentvis, hence urges companies to take notice of this trend and focus on upskilling employees in a rapidly evolving job market. With a dedicated team, Talentvis Academy  serves as a comprehensive platform with 77,000 active members globally, providing access to over 20 course catalogues and over 100 top-tier courses, aimed at enhancing career development and skill enrichment for employees worldwide. These resources are meticulously designed for companies to enhance career development and skill enrichment for their employees on a global scale, aligning perfectly with the current demand of the Thai job market.

Future trends in the industry

Based on recent trends in Thailand’s job market, tourism, technology, sales, and marketing are anticipated to witness increased job opportunities. Furthermore, the rise of technology has made skilled IT workers a top priority for companies, as they seek to stay competitive in the digital era. According to a study by LinkedIn, Thailand’s online world is driving demand for digital marketers, with Thais spending an average of five hours and 13 minutes per day on mobile internet, more than any other country. Additionally, the study reveals that three of Thailand’s top six emerging jobs are data-related, indicating a national focus on data that is fueling emerging jobs.

Recruitment Scams: A Shadow Over Job Market Dynamics

The above trends leading to the digitalization of jobs and over-reliance on the internet also lead to a massive danger: recruitment scams. As job seekers and employers navigate the complexities of talent acquisition, the risk of falling victim to fraudulent practices becomes a concerning reality. Since 2020, recruitment scams in Thailand have been on the rise and candidates are being asked to stay cautious. This alarming trend highlights the necessity for enhanced awareness and preventive measures to protect job seekers from falling prey to deceptive practices.

Talentvis emphasizes the importance of vigilance against recruitment scams. Clear warnings about potential scams are prominently displayed on their websites, ensuring that both candidates and employers are informed and vigilant. Importantly, agencies like Talentvis stand firm in their commitment to ethical practices by never taking money from candidates. This practice helps build trust and transparency, safeguarding individuals from financial exploitation during the job-seeking process.

Additionally, Talentvis takes a personalized approach to engage with and comprehend the nature of each client’s business. By immersing themselves in understanding the unique nature and values of client organizations, they foster stronger partnerships. This in-depth understanding allows Talentvis to tailor their recruitment strategies to meet the specific needs and culture of each client, ensuring a more effective and harmonious collaboration. Simultaneously, with a commitment to candidate safety, Talentvis goes the extra mile to create a secure environment. This involves a careful and discreet evaluation process to align job seekers with reputable and ethical employers. This dedication to fostering a safe atmosphere for candidates subtly includes measures to ensure the legitimacy of client organizations, reinforcing the commitment to providing a trustworthy platform for both employers and job seekers.

NEET and Unmotivated Workers: An Urgent Dilemma

Beyond the scope of the ‘Great Resignation’ and recruitment scams, the Thai job market faces a pressing issue affecting the youth. Nearly 1.4 million youths, constituting 15% of the demographic aged 15-24, find themselves Not in Education, Employment, or Training (NEET). Among them, a staggering 68% lack the motivation to pursue skills or work due to a perceived lack of opportunities. Recent surveys reveal that the NEET population faces specific challenges, including limited access to vocational training programs and a perception of inadequate opportunities for career growth. These findings underscore the critical need for targeted initiatives to address the root causes of disengagement and provide viable pathways to employment.

Insights from Talentvis confirm the urgency of addressing this dilemma. Agencies, such as Talentvis, through programs like Talentvis Academy, aim to motivate and equip the youth with the skills needed for success in the job market. By partnering with educational institutions and community organizations, these agencies endeavor to break the cycle of disengagement and empower the next generation of workers.

In navigating the challenges of Thailand’s job market, insights from global recruitment agencies such as Talentvis serve as a beacon of support, offering expert solutions to the complexities faced by workers and employers alike. Through collective action and a focus on education and upskilling through efforts such as Talentvis Academy, there is hope to shape a resilient and dynamic workforce for the future, ensuring that Thailand’s job market not only adapts to change but also becomes a catalyst for positive transformation in the global employment landscape. Alongside this, as the specter of the ‘Great Resignation’ and the shadows of recruitment scams loom, Talentvis stands as an inspiring example of fostering a job market that thrives on trust, transparency, and empowerment.