Despite recent fluctuations in the recruitment market, 59.1% of businesses across Vietnam plan to recruit more staff, according to a report from Navigos.

The research showed that 59.1% of businesses participating in the survey responded that they would recruit less than 25% of personnel in the next year.

Navigos said the labour market situation in 2023 remains challenging. According to the survey results, up to 82.2% of businesses in Vietnam responded that they were affected by market fluctuations in 2023.

For businesses affected by market fluctuations in 2023, the most chosen solution is employee reduction, with 68.7% of votes. The second one is stopping recruiting new employees, with 52.6% of the vote. Others are providing professional and soft skills training for employees (46.9%), internal transfer (43.2%), and reducing employee work hours (14.1%).

Across Vietnam, businesses cut down with a scale of less than 25%, accounting for the majority of sectors.

The research also found that the rate of employees becoming redundant and not finding a new job is still relatively low (11.4%).

Meanwhile, 43.3% employees received pay raises in 2023, with a salary increase from 5% to less than 10%.

When it comes to jobseekers, 83.4% of employees said that when looking for a new job, the first priority is salary. Most, or 70%, of them stated salary is the factor that has the strongest impact on their decision to quit their current job if they are not satisfied with the company.

Navigos also found that the employment trend that employees are most interested in in 2023, and extending to 2024, is flexible working (49.1%) with work-life balance ranking second (43.7%).