HO CHI MINH CITY, Vietnam, June 8, 2022 /PRNewswire/ -- Sparked by the global pandemic, the Great Resignation has been happening in Vietnam for the past two years and will only intensify in 2022. There has been a wave of resignations in Vietnam with almost half (42%) of employees who have been at their current jobs for not more than two years and a significant 79% of employees looking for new career prospects over the next six months.
Professional recruitment services firm, Michael Page Vietnam, launched the 'Talent Trends 2022 Report', titled 'The Great X' that features new insights and market sentiment on prominent employment topics.
While salaries, bonuses, and rewards are still top motivators for candidates, the survey shows a big swing towards non-monetary benefits. A significant 68% of respondents in Vietnam are willing to forgo pay rise and/or promotion for better work-life balance, overall well-being, and happiness.
Mark Donnelly, Country Head of Michael Page Vietnam, says, "Investing in employees is a key retention strategy. Adopting technology means employees need to fill in skills gaps. And with small talent pools in a highly competitive environment, upskilling and reskilling the employees you already know is critical. Those who are ill-equipped may feel unmotivated and could consider leaving the company."
As economies improve, these trends are likely to continue: