In 2022, companies resumed hiring of accounting and finance professionals in the Eastern Seaboard after market uncertainty influenced by the covid-19 pandemic.
“With the US-China trade war, we saw many new Chinese companies moving production to Thailand in 2022. This created job opportunities for professionals in the sector,” says Natiya Saul, Director of Sales & Marketing and Eastern Seaboard Operations, Robert Walters Thailand.
New businesses returned to Thailand once again, opening up new factories across the industry. For professionals affected by the reduction of internal promotions in 2021, many of them looked to new opportunities that offered clearer and better succession and career development plans.
Read on as Natiya shares her expectations of the labour market and hiring trends for accounting and finance professionals in 2023, focusing on the Eastern Seaboard.
Natiya believes the market will see increased focus on collaboration between commercial and finance teams in 2023, as companies strive to expand businesses amid economy recovery. This will make finance professionals with strong analytical skills or background in engineering to be highly sought after.
As companies look forward to healthier growth, they will also be looking at improving manufacturing margins to meet business targets. Hence, professionals with experience in cost improvement will be in high demand. Similarly, business/financial analyst and business controller roles will be available in a growing market, adds Natiya.
She shares, “Candidates are now focusing more on companies with the right culture and not just attractive compensation and benefits.” It takes more than salary packages to attract and retain talent, particularly in an increasingly candidate-driven market. Companies are advised to ensure long-term career development needs of employees are not overlooked, as many accounting and finance professionals prioritise upskilling opportunities to stay relevant.
Additionally, Natiya shares that flexible work arrangements have been a popular and important consideration to both potential hires and existing employees. “Companies will need to consider having remote work or flexible work models to attract and retain the right talent,” she adds.
Ensure employees' long-term career needs aren't overlooked as talent prioritise upskilling opportunities.
In a candidate-driven market, she expects salaries for accounting and finance professionals in the Eastern Seaboard to increase in 2023. “We are looking at increases of 15-20%,” says Natiya.
Request access to our 2023 Salary Survey to benchmark salaries and to find out more about the latest hiring and talent trends for Accounting and Finance professionals in the Eastern Seaboard region, Thailand.
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