COVID-19 has influenced companies across industries to take actions to protect their employee and maintain operations in Thailand. Large companies have scaled their capabilities and development prior to COVID-19 but some small companies are re-adjusting the direction of their strategic plans adapting to the business issues and technology which they want to use.
According to the Bangkok Post article, of more than 400 firms globally, 56 percent of the respondents told the researchers that Industry 4.0 technologies have been essential to their crisis response. However, in Southeast Asia, almost 40 percent of companies said the most challenging factor is a lack of relevant people, skills, and knowledge.
Many companies were already dealing with the difficulty in recruiting tech talents even before the pandemic. 43 percent of executives report existing gaps in their companies. Currently, they face new obstacles to labour mobility and access to new normal workplaces. With the future wave of digital disruption at our pace, what steps can organizations take to help prepare the workforce and capture new values in Southeast Asia?
There is no quick win to this challenging issue. The fast development and development of new solutions will require Thai firms to accelerate the adoption of agile approaches of working. The critical solution is to upskill talent at the same scale and pace as technology in Thailand to enjoy the full advantages of the Industry 4.0 transformation.
My suggestion is to collaborate among companies and the Thai government in Thailand. The companies should accelerate their digital approaches, aiming at the most strategically essential opportunities and leaving no company behind.