69% of Thailand’s employees willing to forgo higher salaries or job promotions for work-life balance: Michael Page

Sparked by the global pandemic, the Great Resignation has been happening in Thailand for the past two years and will only intensify in 2022. There has been a wave of resignations in Thailand with a large portion (37%) of employees who have been at their current jobs for not more than two years and a significant 81% of employees looking for new career prospects over the next six months. 

Professional recruitment services firm, Michael Page Thailand, launched the ‘Talent Trends 2022 Report’, titled ‘The Great X’ which features prominent employment insights.

While salaries and bonuses are still top motivators for candidates, the survey shows a swing towards non-monetary benefits. A significant 69% of respondents in Thailand are willing to forgo pay rise and/or promotion for better work-life balance, overall well-being, and happiness.

Kristoffer Paludan, Regional Director of Michael Page Thailand, says, “Companies starting their digital transformation may find the learning curve steep. However, the pay-off is worth it in the long run. Embracing digital tools will be crucial in a world where remote-working has become the norm. Companies that have embraced digitisation have the advantage in a competitive talent landscape, as they will no longer be restricted by geography when hiring.”

As economies improve, companies cannot underestimate the psychological effect that merging “work” and “personal” life has had over the past two years. 82% of respondents want a hybrid work arrangement between working from home and the office.

In addition, 61% of professionals in Thailand have asked or will consider asking about a company’s DE&I policy at interviews and 33% say the lack of clear DE&I commitment would stop them from actively pursuing a job opportunity.

The pandemic has also shifted priorities, 70% of candidates believe that mental health and well-being should play a part in employee performance and appraisals. Companies must create a positive culture in which employees at all levels feel appreciated.

A significant number of employees has been found to not feel supported at work. 52% of respondents say that their workload has increased compared to before COVID-19. 86% believe that their company does not take active steps to ensure work-life balance. Companies need to change things and help employees work more efficiently.

Photo – https://mma.prnewswire.com/media/1843984/Kristoffer_Paludan.jpg
Caption – Kristoffer Paludan, Regional Director of Michael Page Thailand

Source: PRNewswire/InfoQuest