en

Services

We understand that no two organisations are the same. Find out more about how we've customised our talent solutions to help clients across South East Asia meet their needs.

Read more
Jobs

View all the latest job opportunities in Thailand. Write a new chapter in your career with Robert Walters today.

See all jobs

Submit your CV - Eastern Seaboard

Explore new job opportunities in the Eastern Seaboard.

Learn more
Candidates

Together, we’ll map out career-defining, life-changing pathways to achieve your career ambitions. Browse our range of services, advice, and resources.

Learn more
Services

We understand that no two organisations are the same. Find out more about how we've customised our talent solutions to help clients across South East Asia meet their needs.

Read more
About Robert Walters Thailand

Since our establishment in 2008, our belief remains the same: Building strong relationships with people is vital in a successful partnership.

Learn more

Work for us

Our people are the difference. Hear stories from our people to learn more about a career at Robert Walters Thailand.

Learn more

Hiring in Accounting & Finance (Eastern Seaboard): Guide and Trends in 2024

New factories fuel war for accounting and finance talent on the Eastern Seaboard


In 2023, many factories started operations on Thailand’s Eastern Seaboard after companies build new plants from their ground up, or relocated others existing in other countries. This has stoked demand for Accounting & Finance professionals in the industrial sector, driving companies to compete creatively to attract the talent they are after.

“Companies have had to review various aspects that affect hiring, such as employer branding and the compensation packages they can offer. Overall, the market is very candidate-driven and salaries have been on an upward trajectory,” comments Natiya Saul, Director of Sales & Marketing, HR, Supply Chain & Engineering, and Eastern Seaboard  for Robert Walters Thailand.

Read on to find out more about Natiya’s expectations of the labour market and hiring trends for Thailand’s Accounting & Finance professionals in 2024.

Companies will keep trying to cater to candidates

In such a candidate-driven market, Natiya observed that companies have dished out generous counteroffers to try and retain talent that were looking to leave for other firms. This will likely remain the case going into the year ahead, and companies will also hear requests for flexible work arrangements from majority of candidates.

She also points to equity, diversity and inclusion (ED&I) as another trend that companies will keep focusing on in 2024. These efforts are aimed at enhancing the company’s branding, and to promote more inclusivity and fairness within the organisation.

Although salaries are set to rise higher still, the rate of increments are expected to be lower than before as salaries have spiked in recent years. 

Demand for changemakers and mid-level business partners

The tight talent pool means that hiring managers may need to adjust their hiring requirements. “Companies need help with rebalancing their portfolios, but given the state of the market now, more hiring managers have been open to taking on entry-level professionals who demonstrate a good attitude, high learning potential,” reflects Natiya. “Increasingly, companies will have to be willing to hire less experienced candidates and help them develop and learn on the job.”

This shift towards hiring based on potential applies to candidates of other seniorities as well. Candidates with leadership skills and experience managing large teams and headcounts receive many job offers at the same time, and to work around this war for talent, companies will start getting candidates with the necessary soft skills up to speed by training them in the technical skillsets they lack.

With so many factories established in 2023, talent with experience in system implementations, and project and leadership skills related to new factories will be highly sought after.

The most sought after roles in 2024 will be finance director, finance & accounting manager and financial controller.

Set clear expectations and provide diverse benefits

Candidates on the market now prioritise career development and cultural fit, instead of only looking at total compensation. Flexible work arrangements, autonomy and clear lines of reporting are also appealing for candidates considering their next move.

Thus, employers should put career development programmes and internal trainings in place to let employees nurture their technical and soft skills. Natiya also recommends that companies invest more into streamlining and promoting their company and employer branding to highlight the value proposition for talent on their teams.

When it comes to securing great talent, Natiya suggests speeding up the hiring process by reducing the number of interview rounds. She also recommends that companies set clear expectations with candidates on what they should expect in their new role, and to have conversations about counteroffers at an earlier stage.

Lastly, companies will also benefit from hiring candidates based on their potential as it would expose them to a larger pool of talent. She adds, 

These candidates will also stay on for the long haul if they see that the company is committed to their development.

 

Hiring managers will be more mindful with salary increments

Natiya says that candidates still have high expectations as the market vies for talent. However, companies will be more measured in their approach to increments as the market has subsisted on huge salary spikes for job movers since 2021.

She adds, “85% of offers we managed in 2023 saw candidates receiving counteroffers from their employers. We expect that companies will continue to put out these counteroffers as a way to retain their talent.”

Find out more

Request access to our 2024 Salary Survey to benchmark salaries and to find out more about key hiring trends in the Accounting & Finance (Eastern Seaboard) industry in Thailand.

Benchmark your teams' salary

Share this article

Related content

Submit a Vacancy
Hiring Advice

Connect with me today

Natiya  Saul

Natiya Saul

Accounting & Finance, Thailand

With Natiya’s strong network and over twelve years of recruitment experience, she manages clients and candidates across Bangkok and the Eastern Seaboard areas.

Related content

View All
Hiring in Thailand: Guide and Trends in 2024

Competition for top-tier talent heats up in Thailand’s job market In 2023, Punyanuch Sirisawadwattana, Country Manager of Robert Walters Thailand, noticed that the economic downturn has introduced a heightened sense of uncertainty among both employers and job seekers in Thailand. “Top-tier quality c

Read More
Hiring in Thailand (Eastern Seaboard): Guide and Trends in 2024

Eastern Seaboard companies double down on employer branding to attract and retain talent The global economic slowdown has made its mark on Thailand’s Eastern Seaboard, with production sectors that rely on overseas markets and exports feeling the pinch. Natiya Saul, Director for Robert Walters Thaila

Read More
Hiring in Accounting & Finance (Bangkok): Guide and Trends in 2024

Strong demand for talent who can help businesses evolve In 2023, industries such as real estate and retail were on a smooth track to recovery, with some companies set to close out the year strong with a renewed need for more finance professionals to support the business as it grows. At the same time

Read More

I'm Robert Walters Are you?

Come join our global team of creative thinkers, problem solvers and game changers. We offer accelerated career progression, a dynamic culture and expert training.