More than 50pct of workers optimistic about Vietnam’s economic prospects

25-Feb-2021 Intellasia | Hanoi Times | 7:03 AM Print This Post

Optimism about economic growth, however, is inversely proportional to respondents’ working position.

A recent report from recruitment firm Navigos suggested more than 50 percent of workers are optimistic about Vietnam’s economic prospects this year, while 31 percent say the economy will decline.

However, the report, which was conducted base on a survey on 6,000 employees from 35 working fields, suggested “optimism about economic growth is in inverse proportion to respondents’ working position, i.e: the higher the respondents’ position, the less optimistic.”

Under the report, nearly 58 percent of fresh graduates are optimistic about Vietnam’s economic stability or growth. The figures in Team Leader/Supervisor group and Heads/ deputy Heads of department are 53 percent and 50 percent respectively.

At C-level, 51 percent think the economy will stabilise and grow, but nearly 35 percent say it will decline.

Meanwhile, the survey revealed 26 percent of employees experienced pay cuts from 10-50 percent compared to their salary before the Covid-19 pandemic, while 74 percent still enjoy the same income level.

The senior group, namely the Executive Board, C-level, is the most impacted by the pandemic. As such, 40 percent of respondents belonging to this group went through salary reduction at different rates. The group of director/Associate director is at the second place with 32 percent suffering pay cuts.

Navigos’ research also pointed out the fact that only 30 percent of employees were satisfied with the current benefits, and 20 percent were dissatisfied with the current situation.

Looking forward in 2021, 61 percent of employees are expected to get a pay raise by 3-20%, and 10 percent to face salary reduction.

When asked whether candidates are looking for a new job or not, 52 percent of respondents said they would seek for a job in the next 3-6 months;13 percent would find a job within the next 12 months.

Given the current difficult economic situation, 13th-month salary is now at the first place among bonuses or benefits that employees receive as 82 percent of respondents voted for it, followed by health and medical care benefits and travel, meal and cell phone allowances at 51 percent and 31 percent respectively.

For employees, 74 percent of respondents said that the criterion ‘salary, bonus and welfare’ is the most important factor they consider when switching their jobs, followed by promotion opportunities and training and development opportunities at 37 percent and 34 percent respectively.


Category: Business, Vietnam

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