ID :
47563
Wed, 02/25/2009 - 15:51
Auther :
Shortlink :
http://m.oananews.org//node/47563
The shortlink copeid
37% of Thai firms skip pay rises this year
BANGKOK, Feb 25 (TNA) - The global recession is expected to hit hard on the Thai businesses in 2009 as 37 per cent of them are not going to offer pay rises to staff, while 32 per cent plan to just keep salaries in line with inflation, said a senior executive of a consultant firm.
In an exclusive interview with MCOT Public Co, Thailand’s largest broadcast media group, Peter Walker of Grant Thornton Consulting said only 10 per cent of Thai business employees are likely to receive pay rises beyond inflation, while an fortunate one or two per cent can expect a pay decrease.
Management at 19 per cent of Thai businesses are unsure, waiting to see how conditions unfold before deciding.
This year will one of ‘prudent belt-tightening and careful cash management,’ Mr. Walker said. While some 20 per cent of Thai companies are unsure what to do, … flexible approach combined with regular monitoring may be the best way to through the crisis.”
Compared to other countries in the region, the situation of future salaries in Thailand seems more upbeat, he said.
For example, 72 per cent of respondents in a company survey said they would give no pay rises in 2009, and only 10 per cent said they would raise salaries.
Exceptions in Asia-Pacific include Australia (89 per cent) and Vietnam (88 per cent), where a significant majority of companies expected to pay salary rises this year.
Thailand’s economy, the company’s report said, would grow modestly between 0-1 per cent while unemployment would reach as high as 1.5 million as projected earlier by a number of agencies.
In general, Thai economy would not be as bad as in 1997 when the country’s was hit hard by the Asian financial crisis because its financial institutions and property sector still remains strong and only exports are affected, the report said.
Mr. Walker said 2009 may well be a “good time to focus on staff training and skills building. At relatively low cost, internal training programmes are a good way to demonstrate concern about employee development and can also help build team spirit.” (TNA)
In an exclusive interview with MCOT Public Co, Thailand’s largest broadcast media group, Peter Walker of Grant Thornton Consulting said only 10 per cent of Thai business employees are likely to receive pay rises beyond inflation, while an fortunate one or two per cent can expect a pay decrease.
Management at 19 per cent of Thai businesses are unsure, waiting to see how conditions unfold before deciding.
This year will one of ‘prudent belt-tightening and careful cash management,’ Mr. Walker said. While some 20 per cent of Thai companies are unsure what to do, … flexible approach combined with regular monitoring may be the best way to through the crisis.”
Compared to other countries in the region, the situation of future salaries in Thailand seems more upbeat, he said.
For example, 72 per cent of respondents in a company survey said they would give no pay rises in 2009, and only 10 per cent said they would raise salaries.
Exceptions in Asia-Pacific include Australia (89 per cent) and Vietnam (88 per cent), where a significant majority of companies expected to pay salary rises this year.
Thailand’s economy, the company’s report said, would grow modestly between 0-1 per cent while unemployment would reach as high as 1.5 million as projected earlier by a number of agencies.
In general, Thai economy would not be as bad as in 1997 when the country’s was hit hard by the Asian financial crisis because its financial institutions and property sector still remains strong and only exports are affected, the report said.
Mr. Walker said 2009 may well be a “good time to focus on staff training and skills building. At relatively low cost, internal training programmes are a good way to demonstrate concern about employee development and can also help build team spirit.” (TNA)
