Recruitment Trends 2023 and Looking Ahead to 2024
Recruitment in South-East Asia is undergoing significant changes, along with other industries and sectors globally that are being influenced by regional dynamics and trends. The ongoing impact of COVID-19, advances in technology, as well as shifting expectations of candidates are driving changes not only in the recruitment industry but also within the whole market as well in 2023. At ANCOR Thailand, we have conducted a survey and presented the results at our own event "The Talentist" in Q4 2023, in order to further understand the importance of Employer Branding and what candidates look for most in an employer.
- Hybrid Working Models – more flexibility in all industries is being given in terms of in-office working and remote working. Throughout 2024, I am sure we will see more in-office work as well as an increase in meetings face to face rather than online meetings. Companies will need to focus on non-monetary benefits moving forward in order to retain and attract top talent to their business.
- Upskilling and Reskilling – companies are investing in their employees more, providing increasing training. Candidates with an open and growth mindset have been high in demand in 2023. We have seen a number of technical skilled roles left unfilled in 2023 and increasingly in demand.
- Technical Skills – technical skills are high in demand with more skill-based hiring in 2023, and will continue to be into 2024.
- Top Talent retention and search – companies are all looking for ‘top talent’, with retention of their own staff a key driver in 2023. Employer branding is becoming more important and from our study, 25% of respondents changed their employer over the last 12 months with an additional 28% being open to in 2024.
- Diversity & Inclusion – large multinational organizations are aware of the importance of diversity, inclusion and equality, particularly amongst the younger workforce.
The Talentist survey looked at Employer Branding, key drivers for choosing an employer as well as main reasons why candidates are looking for a new role.
Below we see the results and the top 5 factors outlined by the respondents when choosing an employer were named:
- Attractive salary
- Financial stability of the organization
- Career opportunities
- Long-term job security
- Pleasant work atmosphere
In an era where we are seeing unprecedented change, the concept of employer brand takes on paramount significance for businesses seeking to engage both potential talent and their existing workforce.
It serves as the canvas upon which an organization paints its identity and strategy to lure and retain top talent. Organizations must have a clear understanding of the labor market and readily embrace prevailing trends in the market.
According to our Talentist study, employees value financial stability, robust management and leadership, as well as job satisfaction as pivotal in terms of what they look for in an employer.
In the specific context of Thai employers, the respondents highlight company reputation, working with high-quality products and services, as well as financial stability as key areas to look for when potentially moving companies.
Overall, employers in Thailand are encouraged to look at their own brand and what makes them an attractive work place in order to attract talent and retain staff.
It serves as the canvas upon which an organization paints its identity and strategy to lure and retain top talent. Organizations must have a clear understanding of the labor market and readily embrace prevailing trends in the market.
According to our Talentist study, employees value financial stability, robust management and leadership, as well as job satisfaction as pivotal in terms of what they look for in an employer.
In the specific context of Thai employers, the respondents highlight company reputation, working with high-quality products and services, as well as financial stability as key areas to look for when potentially moving companies.
Overall, employers in Thailand are encouraged to look at their own brand and what makes them an attractive work place in order to attract talent and retain staff.
About The Talentist