The current situation of talent recruitment and retention in small and medium-sized enterprises
According to a survey by Top Job, up to 70% of companies have difficulty finding suitable skilled personnel. It is expected that by 2025, Vietnam will need 5 million skilled workers to meet the needs of industries. Difficulty in creating attractive treatment. Due to limited financial resources, it is difficult for Vietnam Airlines to offer attractive treatment like large enterprises.
According to statistics from the jobsGO online recruitment platform, among the 700 workers surveyed, salary and bonus are the top concern when looking for jobs, with 334 votes (accounting for 55.7%). Limited working environment, promotion and training opportunities. Vietnam Airlines often lacks systematic training programs and clear promotion paths, leading to employees feeling un motivated and unable to develop.
The TopCV report also shows: Employees who have been trained and have certificates and degrees at all levels from elementary to postgraduate level only account for 20.92%. This shows that the demand for training and human resource development in Vietnamese enterprises is very large. Reversal
The high turnover rate and the impact on business operations of the high turnover rate are a big challenge for Vietnam Airlines.
According to Anphabe, in the first half of 2023, the voluntary termination rate was 10.4% for Vietnamese companies and 6.5% for foreign companies.The high rate of unemployment leads to increased recruitment and training costs, affecting the performance and stability of businesses.
A study from the Center for American Progress also shows that the average cost of replacing a part-time employee is 16% of annual salary for low-paid jobs, 20% for mid-range positions, and 213% for executive positions requiring high qualifications.Reversal
Limited financial resources (35%) are the biggest cause, accounting for more than 1/3 of the total difficulties. When finances are tight, businesses have difficulty investing in salaries, bonuses, benefits, and programs to attract and retain talent.
The lack of a systematic human resource strategy (25%) is a second limitation, the lack of a long-term human resource plan reduces the ability to develop sustainably. The company lacks a clear direction in recruiting, training and retaining employees, leading to a shortage of quality human resources.
Unattractive corporate culture (20%) is another limitation. This may be due to a lack of core values, inappropriate treatment policies, or a lack of internal cohesion.
Finally, there is a factor related to the trend of flexible working (20%). Changes in labor trends, especially remote working and flexible working models, make it difficult for businesses to adapt. Without appropriate policies, businesses will find it difficult to attract good human resources in the context of a volatile labor market.
Solutions through non-financial welfare
According to Glassdoor's survey, 67% of employees said that salary and benefits are the most important factors when deciding to take a job. Vietnam Airlines may not be able to compete with large corporations for salaries, but can attract talent through non-financial benefits, such as performance bonuses, businesses with flexible bonus programs increase employee retention rate to 25%. An attractive insurance regime and a flexible working environment are needed.
Flexible working environment and strong corporate culture strong corporate culture help retain employees 40% more effectively than companies without clear cultural strategies. Important factors for an open and integrated working environment. According to Gallup, an open working environment helps increase productivity by 21%.
Applying technology in human resource management helps optimize recruitment processes, human resource management and create a modern working experience. This solution has helped increase the human resource growth rate to 15%, while increasing the human resource retention rate to 75%. employee satisfaction also reached 85%, showing that technology plays an important role in improving the working experience.
