Thailand HR Strategy Playbook 2024

Despite its prevalence among companies in Thailand, the functional-based model may not fully meet the expectations of business leaders and other stakeholders. For instance, CEOs prioritize having the right talent to fulfill business objectives over how many proficiency levels of leadership competency are defined. . Similarly, employees value skill development, employability and self autonomy over mere training hours per individual per year target. Therefore, the HR model used for developing Thailand's HR strategy adapts elements from The Harvard model of HRM, introduced in 1984 by Michael Beer,, and Richard E. Walton, to reflect today’s dynamic business landsca pe.

Stakeholders interest

Organizational impact

Customers Shareholder Partners in ecosystem Communities Employee & Management

Financial return Customer satisfaction Corporate reputation Productivity Innovation

HR outcomes

HR Policies & Practices

Completion

Talent Management system

Congruence

HR Operating system

Situational factors

Human impact

Cost effectiveness

HR Role & responsibility

HR Capability

Business strategy Workforce characteristics Labour market Technology Laws and social values

Holistic wellbeing Purposeful life Career growth Engagement

adapted from Harvard model of HRM, Beer et. Al, 1984

Enabling CEO succession delivering results through talent and organization

Increasing market value tied to intangibles; managing risk

Board of Directors

Investors

Enabling employee to fully contribute and have positive work experiences

Ensuring strategic revitalization and transformation

Current and future employee

Senior Executives

Human Capability

Business Leaders

Creating and deploying a value-added HR agenda

Delivering on goals and building high performing team

HR Professional

Why do stakeholders care abut human capability, Dave Ulrich, 2022

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