Employers lean into corporate reputation

The Top 500 Vietnam Best Employers (VBE500), held by Viet Research, honoured employers with policies to encourage diversity, promote creative thinking, and nurture the next generation of talented workers.

Labour market perspectives were offered up at the event

Leading the VBE500 rankings were major enterprises in technology, telecommunications, banking, and manufacturing with familiar names including Vietcombank, VietinBank, BIDV, BAC A BANK, MobiFone, Viettel, FPT, Vietjet, The Pan Group, and Vinamilk.

“The VBE500 has political and social significance to raising awareness among the community, businesses, and employees about the importance of developing human resources, employee welfare policies, corporate culture, employer reputation, and talented human resource attraction,” said a Viet Research representative.

According to survey results of businesses in the VBE500 as well as the Top 10 Vietnam Best Places to Work 2023, conducted by Viet Research, Vietnam’s labour market is recovering impressively after the impact of inflation and the wave of global economic slowdown that has spread since the end of last year.

According to the Q3/2023 labour market and employment update from the General Office of Statistics in October, generally for the first nine months of 2023, the unemployment rate of the working age population was 2.3 per cent, down 0.07 percentage points over the same period last year.

Along with the slow recovery of the economy, Viet Research noted that many businesses are currently paying more attention to creating a strong working environment, improving salaries for workers, and also creating promotion opportunities as a way to add value to the business.

“The demand for labour recruitment will continue to grow 4-5 per cent each year and develop into production fields with higher added value. Enterprises in the VBE500 will contribute to the direction and spread of a fair and sustainable working environment,” said Nguyen Van Truc, research director of Viet Research’s VBE500 project

Nearly 80 per cent of VBE500 businesses believe that building a strong employer brand and corporate reputation is the most important solution to improve recruitment efficiency.

Survey results also indicated that almost 40 per cent of businesses are facing a staff shortage of less than 10 per cent, about 8 per cent of businesses have a labour surplus, and nearly half of businesses this year have not faced either.

However, the labour market continues to face many challenges, mainly due to a sharp decline in market demand, according to assessments from the International Labour Organization.

Despite many challenges during business operations, more than 8 per cent of VBE500 enterprises with labour surplus still accept to maintain the same to ensure jobs for employees, reduce new recruitment and training costs, and increase employee attachment to the enterprise.

Top Best Places to Work in Vietnam 2023

Vietcombank, BAC A BANK, VietinBank, Vietbank, Nam A Bank, Construction Corporation 1, Vietjet, MobiFone, Coteccons, Unicons, PetroVietnam, Viettel, and DOJI.

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