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Overall, 'good salary/benefits' emerged the most in-demand provision the respondents are looking for in 2024.
Vietnam's economy in 2024 reflects a mix of resilience and ongoing challenges. Although growth has been robust, the country’s economic performance has slightly missed expectations, falling below both the targeted 6.5% growth rate and the decade-long average of 5.87%.
Despite this, the Vietnamese government remains optimistic, setting ambitious GDP growth targets of 6% to 6.5% for the remainder of the year, highlighting confidence in a potential recovery.
Against this backdrop, a recent Reeracoen survey, titled What Vietnamese workers Want in 2024 revealed the priorities, expectations for annual salary increases, and job change intentions of 105 local workers.
According to the survey, 52 respondents wanted more than 10% in annual pay rise, followed by ‘5-10%’ (38 respondents), ‘less than 5%’ (nine respondents), and ‘no change or decrease’ (six respondents).
This result, it was stated, reflects Vietnam’s financial growth aspirations amidst inflation concerns and underscores the need for the government and businesses to balance higher wage expectations with economic stability and competitiveness.
Sharing his insights, Masato Sekine, Branch Manager, Reeracoen Vietnam, stated: "This high turnover rate underscores the need for businesses to focus on employee engagement and career development.
“By providing clear career paths and addressing the evolving needs of the workforce, companies can mitigate the costs and disruptions associated with high turnover. It's essential to create a work environment that not only meets financial expectations but also supports professional growth and work-life balance," he added.
Other survey findings from the report are as follows:
What do Vietnamese workers want the most in 2024?
Do Vietnamese workers intend to change job the next six months?
Infographics / 'What Vietnamese workers want in 2024' survey
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