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Special Packages, Training Offered by Thai Firms Soften Impact of Downsizing.
Dec. 11--Early retirement programmes are certainly not new in Thailand. For that, credit the labour laws, which offer relatively strong protection for employees from imposed layoffs or firings.
The law has led many companies seeking to reduce headcount to turn to voluntary early retirement programmes. Yet one growing trend for companies seeking to cut staff is to offer those departing packages beyond cash payments.
Standard Chartered, a British bank, offered one of the largest programmes seen some years ago in a downsizing programme launched following its takeover of Nakornthon Bank.
Staff at Nakornthon were offered compensation payments well beyond the legal minimum, English training and assistance in seeking new jobs. DBM (Thailand), a branch of international career counselling firm Drake Beam Morin, helped oversee the programme.
Labour experts agree that the compensation payment is usually the largest factor behind staff decisions on whether to accept early retirement.
Yet human resource professionals believe that outplacement programmes will become more common in the market, particularly among the larger, more progressive corporations.
Thai Farmers Bank, for example, has hired DBM to help oversee "career decision" and "career transition" workshops for the bank's recent early retirement programme.
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