Post by account_disabled on Dec 30, 2023 10:53:01 GMT
Salary increase forecasts for various industries In Thailand it remains at 5%. - The automotive industry is expected to have the highest salary increase rate, at 5.5%. - High-tech industries have the highest involuntary attrition rate at 7%. Mercer reveals the results of a study from 'Thailand Compensation and Welfare Survey Project 2019' with compensation trends Including forecasts of employment and salary growth for 2020. The numbers and forecasts come from the results of the compensation and welfare survey. which is a study of annual compensation and benefits of Mercer, this year the number of companies participating in the study increased to 607 companies from a variety of industries in Thailand.
Mercer also conducts Pulse surveys C Level Executive List throughout the year to track the impact of Keep up with the rapid changes in businesses and study trends in compensation rates and the labor market. In 2020, the forecast for salary increases for key industries in Thailand remains steady at 5%, in line with a low inflation rate of 1.1% (1.0% in 2019). The highest salary increase is in the automotive industry at 5.5%, while the chemical industry is likely to see a salary increase of 5.2%. The trend for variable bonus payments for 2019 is still expected to be 2.3 times the overall salary for all industries. In the automotive industry, the highest bonus is paid at 3.6 times the salary compared to other industries.
Followed by the life insurance industry and the high-tech industry. It is expected that the bonus will be paid at 2.5 times the salary. Trends in voluntary attrition rates The survey results also indicated that From the overall picture of the industrial sector The voluntary attrition rate rose to 12.8% in 2018 (compared to 12.5% in 2017), while the latest data from the Mercer Asia Market Pulse Survey, Q1 2019, found that Voluntary attrition held steady at the same level as the first quarter of 2018 (4%). In Asia, the top reasons employees quit their jobs vary by age group and gender.
Mercer also conducts Pulse surveys C Level Executive List throughout the year to track the impact of Keep up with the rapid changes in businesses and study trends in compensation rates and the labor market. In 2020, the forecast for salary increases for key industries in Thailand remains steady at 5%, in line with a low inflation rate of 1.1% (1.0% in 2019). The highest salary increase is in the automotive industry at 5.5%, while the chemical industry is likely to see a salary increase of 5.2%. The trend for variable bonus payments for 2019 is still expected to be 2.3 times the overall salary for all industries. In the automotive industry, the highest bonus is paid at 3.6 times the salary compared to other industries.
Followed by the life insurance industry and the high-tech industry. It is expected that the bonus will be paid at 2.5 times the salary. Trends in voluntary attrition rates The survey results also indicated that From the overall picture of the industrial sector The voluntary attrition rate rose to 12.8% in 2018 (compared to 12.5% in 2017), while the latest data from the Mercer Asia Market Pulse Survey, Q1 2019, found that Voluntary attrition held steady at the same level as the first quarter of 2018 (4%). In Asia, the top reasons employees quit their jobs vary by age group and gender.