Work-life balance is a cycle, not an achievement. In short, work-life balance is the state of equilibrium in which a person gives equal priority to the demands of his career as to the demands of his personal life.
Work-life balance will be the top consideration for Vietnamese job seekers in 2022, according to new research from modern HR platform Grove HR and public opinion and data firm YouGov.
After a difficult 6 months in which millions of people were forced to work from home and entire industries came to a standstill, Vietnamese workers are now rethinking their professional priorities and what matters most to them in the workplace.
After the pandemic, nearly three-quarters (73%) of people consider better work-life balance, such as flexible working, after-hours shutdowns and compensation for overtime, as the most important factor in deciding whether or not to accept a new job offer. A competitive package of benefits, including salaries and bonuses, came second (73%) for job seekers, with ‘job security’ (69%) being the third most important criterion in 2022.
Grove HR also found that nearly half (49%) of people plan to change jobs by 2022. That’s down just 2% from the peak of the pandemic in 2021, and consistent with trends elsewhere in the world.
However, companies that want to attract these employees will have to offer a good financial package, with most people wanting between 10% and 30% more than their current salary. Only about one in ten (11%) would consider changing jobs for an increase of less than 10%. On the other hand, more than a third (36%) would leave their jobs if their salaries were cut by 10%, highlighting the challenges of retaining staff in the ‘new normal’.
Meanwhile, the ideal workplace has been transformed during the pandemic. Vietnamese now want a flexible work environment, with 40% of people hoping to combine office and home work by 2022. That’s compared to a fifth (21%) who want to return to the office full-time and just 16% who want to continue working from home.
Vietnamese workers also care more about their health at work, following the global COVID-19 pandemic. However, most people feel safe to return to work once they, their families and colleagues have been vaccinated.
You can download the full version of the ‘What Vietnamese Candidates Want in 2022’ Survey here†
Commenting on the data, Bao Nguyen, General Manager at Grove HR said:
“Recruiting and retaining staff remains a major challenge for companies in major cities and industrial zones, after tens of thousands of people returned to their hometowns during and after the 2021 lockdowns. Attracting new employees is no longer just about offering attractive salaries. Employees want more of their work. Therefore, managers need to adapt their HR strategies to the new realities of recruitment after the pandemic.
“While the lockdowns are over, trends such as telecommuting and flexible working seem to be continuing. So companies looking to keep their best and brightest need to invest in the tools and technologies to facilitate a better work-life balance for their workforce.”
Thue Quist Thomasen, CEO of YouGov Vietnam, added:
“The COVID-19 pandemic has changed the world of work around the world, and Vietnam is no different. Our data shows that employees now want to maintain a good work-life balance. Therefore, companies need to offer attractive benefits and incentives, while also creating and communicating a positive corporate culture and facilitating a flexible workplace where employees have the opportunity to divide their time between home and office.”