You are here
5 unique benefits to offer your Thai employees in 2019
Attracting and retaining talent are two of the biggest challenges that many companies are currently facing, especially in Thailand where it is a truly candidate-driven market where job opportunities outweigh qualified candidates. From big to small MNCs, well-established to fast growing Thai companies, they are all in the same battle fighting for quality Thai candidates.
There are many factors affecting the decision of the candidate when it comes to accepting a job offer or leaving a company. One undeniable aspect is the remuneration package. Apart from a competitive salary, companies need to find innovative way towards perks and benefits. From my experience as a Recruiter, I have encountered many cases where potential candidates reject an opportunity that offers higher salary due to the lack of preferred benefits.
Besides standard face-value benefits, there must be other underlying aspects that provide a significant amount of influence to career choices. I have gathered five unique perks that I believe companies should employ to reach out to the best candidates in the market.
1. Better-than-average standard benefits:
Standard benefits in Thailand include 10 annual leave days, 3%-5% provident fund, health and dental insurance. Your company will be significantly more attractive if your standard benefits are higher than the market, whether be it more leave days, better insurance packages, or providing flexible allowance where the employees can use it for recreational or self-improvement purposes. In addition, the employers can also offer paid maternity/paternity leave.
2. Workplace flexibility:
Everybody loves a healthy work-life balance (don’t you?), especially Millennials who are now becoming the largest workforce in many organisations. Unlike the past where most working professionals would leave their homes early to commute to work and arrive at the office in time, more and more employees today are seeking flexible working conditions.
Workplace flexibility could range from hours to location or even alternative schedules. This will allow employees to choose the working conditions that best suit them. Heavy traffic is a common morning complaint, which is why a balanced lifestyle becomes a necessity. People still value work and career progression, but optimal working prowess is fueled by out-of-work activities like exercise, family, and traveling.
With the case for international opportunities, whether it be for vacation or for work, it is in the company’s interest to provide employees that flexibility of working in international offices based on merit or convenience of stay.
3. Leave without pay policy:
This policy allows the employees to take unpaid leave at their request on an agreed period for various purposes including medical leave, educational purposes, vacation, or other personal reasons. Many organizations have implemented this policy in order to maximize cost efficiency by ensuring that the best workforce upholds their financial requirements without bearing the costs of others performing less. Furthermore, employees therefore have the opportunity to manage their personal issues without worrying about job security.
Linking back to commuting times and work-life balance, most employees don’t want to spend too much time to commute to work. Many potential candidates turn down an otherwise good opportunity because of the inconvenient location. Moreover, several candidates state their reason for leaving due to an inconvenient location. Thus, having your company located in a city center where it is easily accessible by BTS or MRT would increase the chance of attracting quality candidates.
5. Nap room:
My favorite one – why not take an afternoon nap when there is much research citing that a power nap is good for you? Many Japanese companies and an increasing number of Chinese firms including Huawei are adopting this policy because they believe that a power nap will increase the employees’ overall performance, and lower the risk of making mistakes. However, according to the study, this policy should be put into action with careful planning, as napping is definitely not for everyone.
Above are just a few examples of interesting benefits that a company may consider to pull in candidates and retain a strong hold on current staff. Although there are many more qualities a company can adopt, I believe that these are well enough to scratch the surface towards creating a winning corporate environment.