Bangkok, June 23, 2020 – jobsDB (Thailand) looks ahead to how the employment landscape may appear in the second half of 2020, citing that 88% of businesses will resume hiring and more than half will open job position in Entry and FreshGrads levels.
The latest forecast on May 20 by The Center of Economic and Business Forecasting, University of the Thai Chambers of Commerce, shows that around 3 million Thais may have lost their jobs in COVID-19 pandemic, despite of the earlier forecast from The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) that 7 million employees will be out of a job by June. In recent researches done by jobsDB Thailand on COVID-19 impact, the result findings show deeper impact on the employment market which drove Thai employees unhappy and unsecured for their work-life.
Ms.Pornladda Dathratwibul, jobsDB Thailand Country Manager, said that jobsDB (Thailand) conducted a survey in May this year, covers more than 1,400 employees and 400 businesses, to ascertain the COVID-19 pandemic effects on working professionals and businesses and found out that 1 in 4 of Thai employees has got impact directly to work status. However, in the next 6 months, there are positive signs shown up from employers.
“25% of Thai employees, who have jobs before COVID-19, said the virus outbreak had a direct impact on their current employment; 9% of these have lost their jobs, and 16% were placed on temporary stop working status. The hardest hit groups are those with a monthly salary below 16,000 baht, contracted work type, age ranged more than 45, and those who work with organizations with less than 50 staffs.”
The survey shows that even employees with secured jobs have also experienced the impact of the COVID-19 crisis; 48% of these are encouraged to work from home, 45% report a negative impact on their salaries, 27% receive no bonus, 20% get no salary increase, and 14% take salary cut – between 11-20% of their salaries before the pandemic.
Thai employees ‘Happiness Index’ pre COVID-19 was 85% and dipped to 59% during the crisis as the ‘Unhappy’ score tripled. Shifting to working from home, 46% of employees report extra working hours. It was also found that employees in the advertising/PR industry as well as digital marketing, e-commerce and social media sectors are those who work longer a day in the work-from-home situation.
Ms.Pornladda added, on the other end, businesses also faced difficultly in COVID-19, but more likely to start recruiting activity again in upcoming 6 months. “In the COVID-19 crisis period, more than half of the businesses surveyed (52%) encourage their employees to work from home. Nearly half of the businesses (47%) have adjusted their employment policies which would have a big impact on the employment market. Of these, 39% will not recruit at present and 12% consider laying off their staffs.”
In response to the recent challenges on the employer’s side, 37% have altered their salary/compensation structures.
- 21% confirms salary freeze and no bonus.
- 20% are considering pay cut.
- 18% will provide no bonus.
“We are seeing positive signs from hirers that reflect up in the survey as businesses already indicate a positive outlook for the second half of 2020. Most of them (88%) are optimistic about the employment situation and will resume their recruitment activity again in the next 6 months.”
- One third of employers (33%) are willing to employ victims of the COVID-19 pandemic as a way to help the country
- 53% of the positions open in next 6 months will be on Entry Level and FreshGrads.
- Top 5 job functions that employees will hire are; IT, Marketing/public relations, Sales/Customer Service/business development, Hospitality/F&B, and Merchandising/purchasing.
“It is recommended that businesses have to actively encourage staff engagement to reduce the feeling of job insecurity while boosting work-life balance and employee well-being after the recovery process. After this crisis, candidates may tend to explore the world of employment in a different way. Organizations with distinctive strengths and the ability to differentiate their value proposition will gain a competitive advantage in attracting talent.”
Ms.Pornladda concluded that, “jobsDB Thailand has continued to support Thailand Job Market, we are doing whatever we are able to do to help Thai to fight through this difficult time. We are continuing our special initiative #TogetherAhead, providing job opportunities, tool and tips, data and insights as well as career resources in an attempt to help millions of employees, fresh graduates and businesses being hit by the COVID-19 crisis to find their matches.”
More details on the #TogetherAhead are available at https://th.jobsdb.com/togetherahead
For more information, contact jobsDB (Thailand) at 02-670-0700 or visit https://th.jobsdb.com/th.