HO CHI MINH CITY, VIETNAM – Media Outreach – August 1, 2023 – A significant change in the Vietnamese employment landscape has emerged, with 35% of Vietnamese workers looking for a new job right now, according to a recent national survey. Another 21% plan to start a job search within the next 6 months. This unprecedented trend reveals a dynamic labor market marked by increased fluidity and the willingness of individuals to explore new career opportunities.
This recent study by specialist recruiters Michael Page Vietnam has 996 participating professionals from Vietnam and reveals that 1 in 2 employees have changed roles since the start of the pandemic. These data point to a fundamental shift in the relationship of labor to its employment, leading to an “invisible revolution” characterized by a more transactional approach to work.
According to the Michael Page Vietnam Talent Trends 2023 report titled “The Invisible Revolution”, the pace of change is accelerating. An astonishing 9 out of 10 Vietnamese who started a new job last year are open to new opportunities. A flexible mindset towards career progression has become the new norm, with the majority viewing career transitions as an integral part of their career path.
Observing this trend, May Wah Chan, Regional Director of Michael Page Vietnam says, “95% of all employees in Vietnam are open to new opportunities. Even generally satisfied employees will explore new career opportunities. comprehensive package – attractive salaries, flexibility, career growth, frequent recognition and a work culture that aligns with their values across a range of areas, including sustainability, diversity, equity and inclusion.”
The correlation between the economy and job search behavior becomes more evident. In fact, 54% of the population is more likely to look for a new job when the economic environment deteriorates. However, this openness will not necessarily translate into job applications. After a high volume of professional migration during and after the pandemic, people are now focusing on finding job opportunities that best meet their individual ambitions and achieve their vision of an ideal work-life balance. .
Nicholas Kirk, CEO of PageGroup, said: “The trends in Vietnam reflect the sentiment of the global talent market – every region has seen transformative change across all age groups, markets and industries.
“These are not fleeting trends or reactionary responses to turbulent times. Rather, they are reshaping the workplace in ways that will subtly but fundamentally change how companies attract and retain talent.”
Despite a very open-minded talent base in the market, the candidate-driven dynamic in Vietnam will only intensify, with pressure on companies to stand out with their job postings and create More compelling employee value propositions based on what matters most to talent. market. The threat of high turnover will be a permanent feature of the new era of talent.
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