Hiring in Thailand’s tech and transformation sectors has held steady across 2023, even as budgets have shrunk slightly in some firms that have reallocated their investments in technology in favour of the core business.
Supatsee Limpraprutkul, Manager at Robert Walters Thailand’s Tech & Transformation desk, notes that the demand for IT foundation talent – candidates specialising in infrastructure, security and enterprise resource planning – has only gone up over the past year.
This demand is driven by larger conglomerates and international firms that have chosen to set up their technology hubs in Thailand. “The operating costs are lower than in USA or Europe, and they also believe that the candidates are great quality for the budget they’ve set aside,” Supatsee elaborates.
Meanwhile, candidates have been selective about the opportunities they consider. Monetary compensation is no longer the sole driver in enticing promising candidates; many now seek out the right culture, teammates, fantastic benefits and exciting career development pathways.
Read on to find out more about Supatsee’s expectations of the labour market and hiring trends for Thailand’s Tech & Transformation professionals in 2024.
It has been difficult persuading high calibre candidates to consider new opportunities as they are now more selective than before, according to Supatsee. For any offer to succeed, the hiring company must match their preferences in job certainty, benefits and culture, especially as money is no longer the top or only priority. Furthermore, achieving work-life balance has become more important for many candidates.
“For example, 90% of candidates will reject offers that do not offer remote or hybrid work arrangements, and these demands are not going away any time soon,” says Supatsee. “Companies that have created a ‘true hybrid’ work model have and will do better at attracting and retaining talents from this sector who truly believe that they are more productive and focused when working from home.”
In the year ahead, Supatsee expects that there will be a decrease in headcount for permanent positions. Employers will be prudent with any hiring, and rely on contract positions or vendor outsourcing to do away with the long-term costs of retaining an employee.
It is also expected that more multinational corporations will choose to establish their technology hubs in Bangkok.
The positions that companies are most looking to fill are for head of IT, IT managers, project managers, PMO (transformation), IT security and cybersecurity.
Professionals with excellent communication and project management skills, strong business acumen, and the ability to do architecture design and research and development (R&D) will be highly sought after.
Companies must be holistic about the way in which they attract and retain talent, especially since candidates no longer regard money as the only point of consideration in any job opportunity.
“Match your employees’ ambitions by working out their preferred career pathways, and provide the platforms and resources for them to learn and reach their goals,” Supatsee advises.
She also emphasises that companies must live up to a ‘true hybrid’ work model, or they will not be able to retain top quality candidates.
Lastly, companies should also place more attention on employer branding to promote the benefits and culture they can offer to candidates.
In 2024, job movers can expect their salaries to go up by between 10 – 40%, with higher raises for specific, niche roles that are rare on the market.
Request access to our 2024 Salary Survey to benchmark salaries and to find out more about key hiring trends in the Tech & Transformation industry in Thailand.
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Tech & Transformation, Thailand
Supatsee has been a technology recruitment specialist for over four years. She and her team recruit candidates for tech transformation and digital product development related roles.
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