Research from Reeracoen Vietnam finds that nearly two-thirds of workers plan to switch jobs within the next six months, underscoring retention challenges.
By Maggie Mancini
Recruitment agency Reeracoen Vietnam has released a survey exploring Vietnamese workers’ priorities, expectations for annual salary increases, and job change intentions. The survey results are crucial for businesses and policymakers as they navigate the balance between employee expectations and economic sustainability in Vietnam.
Vietnam’s economy remains one of the fastest growing in Asia, fueled by rapid industrialisation and a burgeoning middle class. In the first half of 2024, the country witnessed robust GDP growth, increased foreign direct investment, and a dynamic labour market. The General Statistics Office forecasts a growth rate of 6% for the year, in line with the government’s target. The emphasis on digital transformation aligns with global trends, as Vietnam shifts from traditional agriculture to non-agricultural sectors such as manufacturing, services, and construction. The company has also seen increased demand for professionals in IT, marketing, consulting, and construction. To sustain economic growth and maintain global competitiveness, understanding Vietnamese worker preferences is crucial.
The survey finds that good salary and benefits is the top priority for 58.7% of respondents, followed by a professional career path (17.5%), four-day workweeks (12.6%), and hybrid working (11.6%).
The survey reveals that most Vietnamese workers expect an annual pay increase of more than 10%, reflecting their financial growth aspirations amid inflation concerns. This underscores the need for the government and businesses to balance higher wage expectations with economic stability and competitiveness. Additionally, a significant portion of the workforce (64.8%) plans to change jobs within the next six months, indicating high job mobility and potential challenges in terms of employee retention and recruitment.
