More than 50% of companies manage to keep employees during COVID-19

More than 50% of companies manage to keep employees during COVID-19.

More than half the companies in information technology, finance- banking-insurance and import-export have not laid off employees or cut salaries or benefits during the prolonged pandemic, according to a report by recruitment company VietnamWorks.

According to the report, when the outbreak is controlled, 50 per cent of enterprises plan to recruit new and inexperienced employees since they still need to meet overheads after many months without any business.

But with society and the economy gradually entering a new normal, workers too are likely to have new requirements, the report warned.

They might not only look for attractive salaries or benefits but also consider the working mode and operating model of the employer, and so businesses need to come up with new strategies to attract talent, it said.

‘COVID-19 and The Labour Market in 2021: Situations and Solutions’ collected data from 400 enterprises and 1200 job seekers in August, which showed 49.9 per cent either sacked workers or cut wages.

Some 11.6 per cent continued to hire.

But 3 per cent stopped operating temporarily, 7.3 per cent laid off employees but did not cut salaries or benefits and 9.4 per cent chose to both lay off employees and cut salaries.

Businesses in the food, hotel, tourism, education, construction, and architecture sectors were severely affected, leading to a high number of lay-offs and huge cut in salaries and benefits.

Employees in the administration/secretarial, sales and customer service departments were the first to be sacked.

Refer to:
Vietnam news