Covid-19 has put more pressure on both employers and employees and new policies are therefore needed during the recovery period, the Business Leaders Forum 2022, held by the Australian Embassy in Vietnam, the Vietnam Business Coalition for Women’s Empowerment (VBCWE), and Vietnam Economic Times - VnEconomy on June 1, heard.

In attendance were Australian Ambassador to Vietnam, H.E. Robyn Mudie, and Ms. Ton Nu Thi Ninh, Honorary President of the VBCWE and President of the Ho Chi Minh City Peace and Development Foundation, among others. 

A survey on the impact of Covid-19 on Vietnamese private sector workers, conducted by Investing in Women (IW) and the VBCWE in February, found that both the mental and physical health of workers were affected by Covid-19. Fifty-one per cent of employees had mental health issues compared to 17 per cent who were unaffected. In terms of physical health, 59 per cent were affected and 26 per cent showed no effects.

Covid-19 put added pressure on all workers, especially women, in finding time for the home, Ms. Kathy Mulville, Business Partnership Director at IW, told the forum. Therefore, many workers wanted to quit their jobs, resulting in added pressure on recruitment. She suggested that businesses actively communicate and consult with workers in order to make sure their support policies are suitable and that implementation truly benefits them.

The pandemic also created difficulties for employers in retaining quality staff, said Ms. Tran Thi Lan Anh, Secretary General of the Vietnam Chamber of Commerce and Industry (VCCI). “Businesses have now filled most positions, but still face challenges in retaining employees in the long term,” she said.

Existing staff have needed to improve their efficiency to cover for reduced staff numbers. Moreover, Vietnam has focused on attracting capital into the high-tech sector, which means workers need training to satisfy investor requirements, Ms. Anh told the forum.

VCCI believes the key to this is better use of the existing workforce. It suggested that businesses improve workplace efficiency, diversify the forms of work, accelerate training, create new jobs, and increase the engagement of social organizations in order to reach goals.

Inclusiveness and diversity, especially gender inclusiveness, also play an important role in the labor market, as was the case even before the pandemic, according to Mr. Denis Brunetti, President and CEO of Ericsson Vietnam, Myanmar, Cambodia & Laos and Vice President of the Australian Chamber of Commerce in Vietnam (AusCham). Ericsson was able to post higher efficiency, increased profits, and a higher stock price during Covid-19 thanks to its work from home policy, which enabled female staff to flexibly balance work and home, resulting in improved confidence and better performance.

He also mentioned Vietnam’s success in promoting the role of women in business activities, especially at the management level. Twenty-five per cent of small and medium-sized enterprises (SMEs) in the country are led by women, and it has targeted boosting this figure to one-third. And many ambassadors in Vietnam are women, he added. “Vietnam really believes in the value of diversity and inclusiveness and has achieved that goal,” he said. “Through diversity and inclusiveness, we can improve the value of not only ourselves but also the country and the economy.”