US recruitment agency Manpower Group Thailand forecasts the country's labour force in banking, retail and industry will see a massive drop because of digital disruption.
Wanchai Priboonbaramee, director of operations, said the key challenge for the country's business and labour sectors are new digital trends, automation and robotics systems, and e-commerce expansion.
The banking sector is predicted to lose employees this year because of a variety of fintech innovations and startups, said Mr Wanchai.
The retail sector will also cut staff, including key players at department stores, because of the rise of cashless payments, he said.
"Most retail stores will decrease their staff over the coming years because cashiers will become unnecessary," said Mr Wanchai. "Some industrial factories like those in the automotive sector are set to automate via robotics systems to cut down on labour costs."
Manpower has recommended boosting the capabilities of the Thai workforce, particularly when it comes to employees adept at multi-tasking, because most companies prefer a flexible workforce with a variety of capabilities, allowing employers to use them to suit their business needs.
Moreover, the agency touted those who can fill in for absent employees across a number of areas as being particularly beneficial.
In a related development, Manpower reported a number of changes set for the 2018 labour market, including work methods and the nature of employment because of the influence of digital transformation and the implementation of the Thailand 4.0 era among government sectors.
Marketing manager Suthida Kanjanakantikul said these changes are challenges all sectors need to address in order to keep up with Thailand 4.0.
Citing a company survey conducted last year among 10,000 businesses, the agency said the top 10 jobs needed in the labour market are: sales and marketing, accounting and finance, IT, engineering, customer service, production, general administration, transport and logistics, human resources, and executives.
Simon Matthew, country manager for Thailand, Vietnam and the Middle East, said the agency will focus on a labour innovation strategy to offer quality services, meeting diverse needs and helping businesses meet the challenges of the Thailand 4.0 era.
Manpower expects revenue in 2018 to grow by 10% from 3.9 billion baht last year, saying the labour market in Thailand has adapted quickly to change. The agency said the country's business and industrial sectors have been adjusting well to the economic, innovative and technological changes being felt across the region and globe.
Manpower Thailand is a subsidiary of Milwaukee-based Manpower Inc, which has over 4,000 offices in 82 countries and territories.
The agency said it can serve 400,000 customers per year, including small and medium-size enterprises in all industry sectors and multinational firms.