Employee turnover rate in Vietnam reaches alarming high: report

Source: Xinhua| 2019-10-04 13:46:39|Editor: xuxin
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HANOI, Oct. 4 (Xinhua) -- The employee turnover rate in Vietnam has been on the rise in the past three years, reaching a high of 24 percent this year, according to the latest report by the local human resource consulting firm Anphabe.

At the staff level, those who earn a salary of below 10 million Vietnamese dong (about 435 U.S. dollars) have the highest rate of leavers of 29 percent, local daily newspaper Vietnam News cited the report on Friday.

At such higher levels, as team leader, manager and director, the higher the salary, the greater the rate of quitting, especially in four fields of marketing, sales, information technology and finance, the report said, which polled 674 firms employing more than 75,400 people in 24 industries.

The ratio of people quitting is much higher in the post-90s generation, born between 1990 and 1999, than other age groups. Besides, more than 17 percent plan to leave within the next one year despite being happy with the current workplace.

According to respondents, the most attractive industries besides their current one are banking, real estate, financial services, wholesale, retail, commerce, food and hotels and hospitality.

The number of new businesses in Vietnam is increasing rapidly, leading to a situation where they have to hunt for talent from existing companies, Anphabe said. Around 32 percent of people working in large enterprises have the desire to start a business in future, according to the report.

In the first nine months of this year, a total of 102,274 enterprises were set up in Vietnam, increasing 5.9 percent year-on-year, the country's General Statistics Office said.