Employees in Vietnam are more likely to stay in organisations that prioritised work-life balance, a recent study showed.
With hiring optimism prevailing, positive salary growth is on the horizon for employees in South-East Asia in 2024.
HRM Asia’s CHRO Series will provide key insights for HR and business leaders in South-East Asia to develop their people strategies for 2024.
The shift to digital technology has led Vietnam to seek skilled professionals in automation, automotive, electronics, industrial design, and IT industries.
88% of the organisations in Vietnam intend to raise salaries this year despite the forecast of a global economic downturn.
Organisations can do more to create a psychologically safe work environment that improves employee engagement, performance, and retention.
Her responsibilities as CMO include brand strategy, corporate communications, and environmental, social, and governance (ESG) initiatives.
Employers are also encouraged to roll out policies to encourage workers to return to work after the celebration of Tet, the Vietnamese New Year.
Besides raising the minimum wage in July, pensions and social insurance benefits for retirees will also increase by 12.5% in January 2023.
Adapting business models to a digitally transformed society is imperative for organisations, especially in the employment and labour sectors.
As of end-September 2022, about 490,000 SMEs have participated in a programme that helps accelerate their digital adoption.
80% of workers who are earning more than the average salary think they are paid less than or the same as market rates.
Asia Pacific is expected to see wages rise next year due to a tight labour market and rising inflation concerns.
Enterprises in Vietnam have been urged to equip young employees with the soft and digital skills needed to adapt to the requirements of Industry 4.0.
The number of working people aged 15 and above hit 51.4 million in 1H2022, marking a 400,000 year-on-year rise.
Over the first half of 2022, there were around 410,300 people aged 15 – 24 without a job, which comprised 36.8% of the total figure.
Taking effect on July 1, the wage adjustments will be determined by the region in which companies operate in.
The Ministry of Labour, Invalids and Social Affairs (MoLISA) is planning to issue electronic employment records for workers aged 15 and above.
The labour supply in the country remains limited and unable to meet demand despite the recovery of many industries.
WeEmpowerAsia has launched 15 e-learning courses on business management and leadership skills for women, with 7,700 women receiving the training.
The minimum wage revisions show the commitment of workers and businesses to overcome difficulties together, said the International Labour Organisation.
More than 36,500 new jobs were created in Ho Chi Minh City in the first quarter, 1,800 more than the same period last year.
The Vietnam Chamber of Commerce and Industry (VCCI) has proposed that the increase in minimum wage be postponed till January 1 next year.
Many drafted regulations were raising concerns among companies that the policies would impose an additional cost burden on businesses.
Including firms in operation, the total registered capital injected by businesses into the economy in the first quarter was VND1,170 trillion.
If approved, the plan would see the increase of the minimum monthly wage to between VND3.25 million and VND4.68 million.
The National Assembly has passed a Resolution to increase overtime working hours from the current 40 hours to 60 hours per month.
COVID-infected employees and those leaving their work to take care of infected children under seven years old have received sickness benefits.
In the first two months of this year, nearly 55,000 people in Ho Chi Minh City found jobs, including 28,000 in February.
Digital transformation is a new engine driving Vietnam’s socio-economic development, facilitating the country’s economic recovery.