The Thailand Labour Trends Report 2024 highlights that 2023 witnessed a 200% surge in Thai companies incorporating dedicated financial health strategies into their HR benefits packages. Meanwhile, a 2024 Salary Survey by Robert Walters also noted that companies in Thailand have become more proactive in providing sustainability-oriented platforms and employee training, focusing on equity, diversity, inclusion (ED&I), and Corporate Social Responsibility (CSR).

This momentum is projected to continue into 2024 as businesses seek to attract and retain talent that aligns with their social and environmental goals. It’s a strong indication that companies are now embracing more flexible compensation benefits and career development opportunities to improve talent retention.

Going the extra mile with employee benefits beyond the basic package can make a big difference in attracting and retaining top talent for your organisation. HR agencies can advertise these special perks to draw the attention of job seekers to your company. Here are some recommendations to consider offering to your Thai employees.

1. Flexible work arrangements

Offering flexible work arrangements can significantly improve the overall well-being of Thai employees. This modern perk empowers individuals to manage their personal and professional lives effectively, leading to increased job satisfaction, productivity, and loyalty to the company. Implement WFH options, hybrid scheduling, or flexitime work periods, for example.

2. Learning and development programs

Studies have shown that employees who are given opportunities to expand their skills are more likely to stay on with the company. By offering opportunities for skill enhancement and personal growth, companies can foster a culture of continuous learning and innovation. This investment in human capital leads to increased employee engagement and productivity. It also gives your company a steady pipeline of highly skilled talent.

3. Health and wellness initiatives

Investing in health and wellness programs for Thai employees can create a positive and supportive work environment. Initiatives such as stress management workshops, nutrition counselling, medical assistance, and flexible work arrangements can help your employees maintain a healthy work-life balance, reduce burnout, and increase job satisfaction.

4. Dental and vision insurance

Dental and vision insurance are often excluded from company insurance plans in Thailand due to increased costs for employers. Despite the added premium, including these benefits can significantly enhance a company’s appeal to job seekers.

5. Financial assistance

Offering financial assistance programs to your Thai workers can differentiate your company as an employer of choice. Emergency relief funds, childcare subsidies, or employee loans can alleviate your staff’s financial burdens and improve their quality of life. Conducting financial advisory workshops or financial literacy seminars can help guide your employees in managing their own finances.

6. Career advancement options

Employees would want to aspire to a higher position in their career journey. Offer opportunities for promotion within your organisation and encourage them to actively seek out new responsibilities and contribute to the company’s growth.

7. Family-friendly benefits

Family benefits like extended parental leaves and childcare or eldercare support (especially for working parents) can help Thai employees balance their professional and personal lives. These reflect your organisation’s commitment to your workers’ well-being and can boost morale and loyalty. Educational assistance is another significant benefit, such as tuition reimbursement for working students or scholarship programs for employees struggling to finance their children’s education. This can give employees peace of mind, knowing they’re receiving essential educational support.

8. Grocery assistance

Providing grocery assistance is a tangible way to support Thai employees’ daily needs. By adding a grocery allowance to their salary or establishing partnerships with stores for employee discounts, companies can help offset the rising cost of living and improve employees’ financial stability.

9. Transportation allowance

The daily grind of going to and from the office can have an impact on an employee’s finances, especially in the midst of traffic jams and gasoline costs. For those who need to be at work every day, adding transportation allowance is a practical benefit to help offset the employee’s daily expenditures.

10. Onsite amenities

Employees thrive in a workplace with amenities that foster a positive and productive work environment. Modern office spaces equipped with ergonomic furniture, recreational areas, collaborative spaces, quiet rooms, childcare and wellness facilities can significantly enhance employee engagement, creativity, and job performance.

ASW Consulting: Expert Talent Advisory Services

Offering exceptional employee benefits is no longer a luxury but a necessity. By investing in your employees’ well-being and professional growth, you can create a thriving company culture. If you’re seeking expert guidance on implementing innovative benefit packages and attracting top talent, ASW Consulting is here to help. Contact us for talent advisory and employment opportunities.

 

Related blog:

Respect and Hierarchy: Navigating Thai Workplace Relationships

Building a Culture of “Sanuk”: Tips for Creating a Happy & Engaged Thai Team