A report with 65,000 respondents on the best workplaces in Vietnam, issued by labor market survey company Anphabe on Tuesday, revealed that the happiness index of Vietnamese workers this year is at their lowest level over the past five years. By the end of the third quarter, only 49% of workers have positive happiness statistics, the report said.
One of the contributing factors is financial burden, with only one of every three employees reporting “positive financial health”, meaning 74% of respondents reported that their current salaries were not enough to afford basic necessities.
Among employees, only 35% of them live on their salaries, while the rest have to search for other sources of finance, including extra jobs, sales and investments.
Luu Bao Van, research director at Intage Vietnam, said employees often feel their salaries cannot satisfy living standards due to rising prices and insufficient savings, among other factors.
65% of workers believed they have not been paid fairly, and that they deserve more salaries, the report said.
However, Thanh Nguyen, CEO of Anphabe, said workers do not realize that a consumerist lifestyle is what leads to an “unlivable salary”.
Thanh said that without a proper solution, those leading a consumerist lifestyle would be likely to leave companies. The report said such individuals are four times more likely to harbor the intention of quitting within six months. About 50% of those reporting to be happy with their jobs will also switch companies given better salaries and benefits, it added.
“They highly value jobs that create a personal sense of financial safety,” Thanh said.
Van said companies need to understand the challenges their workers are going through, as well as resolving their financial security problems, to make them stay. Such measures include increased insurance and comprehensive health checks, she added.
Another solution recommended by experts is to help workers gain access to financial literacy courses, so that they can make financial plans for both the present and the future.
Comments are closed.