It is part of Navigos Group's report on manufacturing human resources 2023, released in early August. The company has provided recruitment services in Vietnam for 20 years.

The difficulties of enterprises

The report is based on analysis data of over a thousand workers distributed in multiple positions and 500 enterprises, ranging in size from 100 to 10000-worker ones, in textile and garment, leather, footwear, consumer goods, food, industrial products and other manufacturing industries.

According to the report, 91% of the building materials manufacturing enterprises saw their turnover decline, with textiles, leather and footwear accounting for 44%, while automation, automobiles, pharmaceuticals, biotechnology and industrial products saw their turnover decline by 22-37%.

To cope with the difficulties, an enterprise department will reduce the production scale by closing factories, reducing production lines, shortening working hours and reducing the labor force.

Sharp decline in workers' income

The difficulties of enterprises have led to a sharp decline in workers' income. According to statistics, 58% of manufacturing workers' income has decreased by 30-50%,34% by 10%, and 2% of workers' wages have decreased by more than 50%.

In addition to decreased wages, workers lost their overtime income and could not receive subsidies as usual.

To cope with difficulties, 60% of employees choose to reduce their living costs, 37% seek part-time jobs from outside, and 3% increase overtime when given the opportunity.

When workers face economic difficulties, reducing the cost of living is almost the first choice, as there is less work and income decreases. A Workers and Union Institute survey when COVID-19 broke out in 2021 also showed similar results. 21% of the employees interviewed said they must eat more shrimp noodles. 48% of people reduce their daily meat intake. 22% of employees must shift from daily shopping to food their families provide. 15% of people choose to eat snacks.

In addition, 60% of employees must save on daily living expenses; 11% must borrow money from relatives: 0.3% must borrow high-interest rates, black credit, or sell social insurance books.

A positive signal

Navigos Group stated that a positive signal of the survey is that workers at this stage seek to improve their skills and skills to maintain a competitive advantage and seek better job opportunities. Specifically, 39% of people choose to improve their management skills, 29% choose to improve their financial management knowledge, and 24% choose to develop skills for applying technology to the manufacturing industry.

In addition, when asked about their expectations for the company, 35% of employees hope not to reduce their wages, 28% of employees hope to obtain long-term contracts, a similar proportion among those who wish to maintain benefits and benefits, and 9% of employees hope to receive sufficient working time.
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