Students join a recent job fair in Hà Nội. — Photo kenh14.vn
A significant shift in the Vietnamese employment landscape has emerged, with 35 per cent of Vietnamese workers seeking a new job right now, according to a recent nationwide study.
A further 21 per cent are planning to start a job hunt in the next six months. This unprecedented trend unveils a dynamic job 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 professionals participating from Việt Nam and reveals that 1 in 2 employees have changed roles since the pandemic started.
This data indicates a fundamental shift in the workforce's relationship with their jobs, leading to an "Invisible Revolution" characterised 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 in 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 job transitions as a regular part of their employment journey.
May Wah Chan, Regional Director of Michael Page Vietnam said: “95 per cent of all employees in Việt Nam are open to considering new opportunities."
"Even generally happy employees will explore new career prospects. Vietnamese employees are now seeking a more comprehensive package – attractive salaries, flexibility, career growth, frequent recognition, and a work culture that aligns with their values in a range of areas, including sustainability, diversity, equity, and inclusion,” she said.
The correlation between the economy and job-seeking behaviour is becoming more apparent. In fact, 54 per cent of the population are more likely to seek a new job when the economic environment deteriorates.
Nicholas Kirk, CEO at PageGroup, said: “The trends in Việt Nam mirror the sentiment of the global talent market – every region has seen a transformative change across all age groups, needs, and industries.
“These are not fleeting trends or reactionary responses to a period of turbulence. Rather, they are reshaping the workplace in a way that will subtly yet fundamentally change the way businesses attract and retain their talent.”
Despite a very open-minded base of talent in the market, the candidate-driven dynamics in Việt Nam will only intensify, with pressure on companies to stand out with their job advertisements and create more compelling employee value propositions based on what matters most to the talent market, the report said, adding that the threat of high turnover will be a permanent fixture in the new talent era. — VNS