Society

With mass layoffs on the cards, analysts believe that employee retention will remain a top priority for businesses in 2023. Salary was previously the most important factor in attracting talent, but other factors must now be paid due regard, such as remuneration, workplace environment, skills development opportunities, and flexible policies.

The Ministry of Labor, Invalids and Social Affairs (MoLISA) has said that Vietnam’s labor market is recovering quite quickly. There is a shortage of workers in some industries, while recruitment demand for many occupations continues to increase. To resolve labor shortages, MoLISA has adopted a policy promoting training and created more favorable conditions for workers to find jobs through the internet.

DEG - Deutsche Investitions-Und Entwicklungsgesellschaft Mbh cooperates and the NovaGroup have worked together on implementing an educational project for underpriviledged students in Binh Thuan and Dong Thap provinces.

The Binh Duong Department of Labor, Invalids and Social Affairs has said that as of September 21, nine out of nine districts, towns, and cities in the southern province had employers and employees submitting applications to benefit from the policy on housing rental support for employees under Decision No. 08/2022/QD-TTg. Binh Duong has spent more than VND832 billion ($35 million) on rental support for more than 1.2 million workers, with a disbursement rate of 85 per cent.

According to the Hanoi Department of Labor, Invalids and Social Affairs, Hanoi created over 168,000 jobs in the first nine months of 2022. The Department also approved more than 8,400 positions for foreigners working in the capital, issuing more than 7,110 new work permits for foreigners and reissuing more than 600.

According to the Vietnam General Confederation of Labor, the housing needs of workers is an urgent issue but only 30 per cent has been met to date. Some 1.8 million workers of the 3.8 million employed at industrial parks and export processing zones have housing needs.