One of the most difficult challenges faced by Human Resource offices is human capital management in Thailand to maximize productivity and performance efficiency. If a proper system is in place, it will minimize possible errors and mishaps making it easier to manage and operate everything in an organization.
Human capital is very important for Thailand businesses because employee skills and knowledge can provide long term value to an organization. The current government policy of Thailand aims to create a more systematic and efficient management of migrant workers. While the implementation of Royal Ordinance on Foreign Workers Management has been postponed, it will eventually come into effect within the next 4 months.
The policy hopes to solve the serious issues on illegal, unreported and unregulated (IUU) fishing in Thailand otherwise importers will face substantial penalties. According to EU regulations on marine fisheries products, exporters to the EU must follow the IUU regulations. Another challenge that the policy will address is human trafficking. Many migrant workers to Thailand do not have work permits and they are usually the victims of human trafficking. They are also very vulnerable to abuse.
The new policy will provide the necessary protection to migrant workers who are often exploited, marginalized and exploited. Under the new policy, migrant workers will be given the opportunity to be registered in the formal system so that they will not be deprived of their rights or exploited by human traffickers and employers.
The new migrant worker policy may not totally eliminate human rights violations but the government will undertake all efforts to improve the rights and legal status of migrant workers. Changes in Thailand labor migration regulations and practices will be in line with international standards that protect the rights of migrants. More policies will be formulated to facilitate the implementation of the new migrant worker policy.
In order to be competitive, it is important for companies and organizations to address human capital management in Thailand because the specific competencies of every employee can be a valuable asset. There are tools that HR offices can use in workforce acquisition, human capital management and optimization of their knowledge and skills.