Top 500 Vietnam Best Employers 2022

Within the framework of the National Research Programme on Great Places to Work, Viet Research tied up with VIR to release the Top 500 Vietnam Best Employers (VBE500) rankings, which recognise enterprises with the best achievements in terms of job generation, employee welfare, and business results.

The programme has political and social significance to raise awareness among the community, businesses, and employees about developing human resources, employee welfare policies, corporate culture, and employer reputation.

The list of businesses in the VBE500 rankings is posted on the programme portal bestemployer.vn/

Military-run telecommunications group Viettel took the lead in the VBE500 rankings as the company has generated jobs for over 40,000 employees with an average income of VND35 million ($1,473) per month at the parent company. To develop human resources, Viettel not only rotates talented personnel for important positions but also supports employees to unlock their full potential.

FPT, Vietnam’s leading IT group, is also named in the VBE500 rankings 2022 with over 35,000 employees and an average monthly income of about VND35 million ($1,473). While FPT's human resources strategy has always been associated with in-depth remuneration policies, its corporate culture is linked to the decentralisation of the organisational structure of human resource management for each department with its own functions. This has helped FPT operate more professionally and consistently, thereby ensuring the smooth operation of the system and personnel department.

Vietcombank is also recognised with a total workforce of more than 20,000 employees and an average income of VND32.68 million ($1,376) per person per month. Vietcombank's recruitment activities have been highly appreciated by the market. The bank has attracted a large number of qualified personnel who meet their job requirements. One of Vietcombank's strategic goals is to become the leading bank in terms of human resource quality, which is well managed according to international practices.

Under the framework of the programme, the Organising Committee also announced some findings from Viet Research's study on Vietnam's Top Employers: Situation and Challenges Post-COVID based on the results of surveys of enterprises in the VBE500 rankings.

The findings indicate that the Vietnamese labour market is maintaining impressive recovery momentum. Most production and business activities have returned to pre-pandemic levels.

32.8 per cent of respondents believe that the labour market has fully recovered while 26.3 per cent of respondents believe that it has experienced positive changes in terms of structure and demand. Along with the number of jobs created, the income of employees at VBE500 enterprises has also reached levels equal to or higher than before the pandemic.

The study finds that there is a growing demand for staff. The demand for labour is anticipated to soar in the last months of the year, reaching 800,000-900,000 workers. Meanwhile, it is predicted that between 550,000 and 660,000 employees will be needed to fill the majority of the demand for personnel with professional and technical degrees (74 per cent).

42 per cent of the VBE500 companies that took part in the survey reported that recruitment demand increased significantly in the first nine months of this year. Businesses boosted hiring activities as they increased production and commercial operations.

Processing, manufacturing, real estate, and banking have the highest demand for labour. Nearly 40 per cent of VBE enterprises participating in the survey confirmed that they have plans to recruit new personnel in the last months of 2022 and early 2023.

Meanwhile, more than 35 per cent of enterprises stated that they will continue to keep their employee counts stable through improvements to employee welfare policies.

The survey findings also show that leading employers in Vietnam are under a lot of pressure due to the volatility of the global economy, high inflation risk, economic recession, and the Russia-Ukraine conflict.

While Vietnam is increasingly integrated into the world economy, VBE500 enterprises are facing several difficulties in recruiting and retaining talent, as well as encouraging and motivating employees, especially due to the trend of startups and the emergence of disruptive business platforms such as Grab and Tiktok.

Therefore, VBE500 enterprises make efforts to create favourable working environments with a focus on employee salaries. To stay competitive, the enterprises have developed a prestigious employer brand, a strong corporate culture, and a set of core values for their business. They have also created many promotion opportunities.

Regarding the needs of employees in VBE500 enterprises, the research results have shown a clear change in the preferences of employees in terms of job opportunities and their own development orientations.

Before the pandemic, factors like remuneration and welfare benefits were always taken into account. However, in the face of labour market competition, people are now more demanding. They are looking for a good place to work, a responsible employer with clear opportunities for career advancement, as well as a working environment that promotes a favourable work-life balance.

Amidst the rise of artificial intelligence in the workplace and the increasingly competitive labour market, employees have also grown more conscious of the importance of developing expertise, exercising discipline, and keeping up with the latest information.

On a national level, to effectively mobilise and utilise Vietnam's potential labour resources, it is necessary to have sound decisions from the state to support the community of leading employers to build a professional, efficient, civilised, modern, and sustainable working environment.

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