A typical Vietnamese company may lose up to 99 per cent of its talent and this ratio is also quite high for in the Top 10 Vietnam Most Attractive Employer Brands, at 85 per cent, according to the Vietnam Best Places to Work Survey.
|Key trends in Vietnam's human resources market were revealed at The Vietnam Best Places to Work 2019 Summit |
The survey was released at the Vietnam Best Places to Work 2019 Summit, with the theme of “Together Towards Tomorrow” and organised by Anphabe in Ho Chi Minh City. The summit saw the participation of 650 CEOs and human resources personnel from leading enterprises in Vietnam.
Accordingly, it is not until employees quit that a company considers it a “Loss.” The Vietnam Best Places to Work Survey emphasised that “Talent Loss” has continuously occurred even before they join an organisation. This “Loss” spans across the five stages of Talent Attraction.
- Awareness loss: this account for an average of 34 per cent of talent, 24 per cent of which do not know of/never heard about a company and 10 per cent know but reject working for such a company.
- Interest loss: Among 66 per cent aware of a targeted talent, up to 53 per cent of potential talent have no interest in working for the company in the future.
- Within the remaining 13 per cent, only 7 per cent are ready to apply for a job posting, and 6 per cent show none of this intention despite having interest.
- Of this 7 per cent, only 5 per cent are serious about their application, and 2 per cent would apply but do not consider this company their “ideal workplace,” indicating desire loss.
- If all desired companies provide similar job offers, the opportunity for a company to become their first choice is down to 1 per cent, equivalent to another 4 per cent loss of first choice.
The Talent Loss trend is still seen after they have become a member of the company, at an alarming rate of 51 per cent of the workforce at a company. This trend once again confirms the importance of building a sustainable employer brand from inside out to minimise Talent Loss both before and after they join a company’s workforce.
At the summit, Anphabe also named the winners of its Vietnam Best Places to Work 2018 survey. The survey measured the Employer Brand Attractiveness of 678 companies in 24 industries, and attracted the participation of 75,481 experienced professionals. Vinamilk was once again selected as the Best Place to Work in Vietnam. Within the Financial Services industry, KPMG was again ranked first and first among the Big 4 Professional Services Firms. It was ranked No.33 in the Top 100, an impressive increase of seven spots compared to last year.
The survey is endorsed by the Vietnam Chamber of Commerce and Industry (VCCI), and this is the second consecutive year that Unilever has collaborated as Strategic Knowledge Partner and Intage as Research Consultation Partner.