Rebranding corporate ethos through youthful workforce dynamics
The workforce landscape in Vietnam is undergoing a significant shift, with the rise of Generation Z (Gen Z) shaping the future of employment. Companies that fail to align with Gen Z's cultural expectations risk losing talent or never attracting it in the first place.
According to a TopCV Vietnam survey, 74% of Vietnamese Gen Z desire upskilling and career growth from day one. This generation values office spaces that support focus and collaboration, with a demand for wellness zones, flexible seating, and cosy breakout areas reflected in Talentvis client feedback.
To attract and retain Gen Z employees, companies should implement specific strategies that align with this generation’s priorities: mental well-being, work-life balance, flexible work arrangements, upskilling, and social responsibility.
Flexible Work Models
Offering hybrid or remote work options is essential, as Vietnamese Gen Z employees prefer a mix of office and remote working. This flexibility supports work-life balance and autonomy.
Focus on Mental Well-being
Integrating mental health support and wellness programs into the workplace culture is crucial. This can mean providing access to counseling, stress management resources, and fostering an empathetic work environment.
Meaningful Work and Social Responsibility
Aligning company missions with social and environmental values is vital, as Vietnamese workers, especially Gen Z, highly value corporate social responsibility and sustainable practices.
Upskilling and Career Development
Providing continuous learning opportunities, internal upskilling, and reskilling programs is essential to satisfy Gen Z’s strong desire for career growth and skill enhancement. This investment improves job satisfaction and loyalty.
Technology Integration
Using technology and AI tools to better understand employee preferences, measure engagement, and customize experiences throughout the employee journey is key.
Employer Branding and Culture Fit
Building strong employer branding around values, career ambitions, and culture that resonate with Gen Z’s expectations is crucial. Regular surveys and employee feedback can help tailor experiences and reduce attrition.
Personalized Employee Journeys
Developing a comprehensive and personalized employee experience that accounts for generation-specific needs, ensuring engagement from recruitment to offboarding, is essential.
Employers who respond to Gen Z's expectations will not just hire, but they will retain and empower the next generation. The rise of Gen Z is already reshaping the future of work. Companies who listen and adapt today will lead tomorrow.
A domestic newspaper survey found that 72% of Vietnamese Gen Z prioritize work-life balance, 73% seek a fun, active workplace, and 71% want friendly colleagues. Over 90% of Gen Z in Vietnam seek weekly feedback from managers, and 86% prefer autonomy to explore independently before seeking help.
Asia-Pacific Business Review research shows that 85% of Vietnamese Gen Z expect employers to demonstrate sustainability and corporate social responsibility. Companies should align brands with values, as employer branding is foundational. Clear value messaging can double the Gen Z applicant pool.
Vietnamese companies face a choice: stick with outdated models and risk losing young talent, or evolve to respond to Gen Z's demands for transparency, empathy, and continuous growth. One regional tech company saw a 32% drop in first-year turnover after redesigning their roles to better resonate with young talent. The average job tenure for Gen Z in Vietnam is 2.2 years, compared to 3.2 years for millennials and 4.3 years for Gen X. "Lack of purpose" or "poor leadership" are common reasons for leaving, not salary.
In conclusion, by combining these approaches, Vietnamese employers can effectively attract and retain Gen Z talent, addressing their mental well-being, flexibility, development needs, and desire for socially responsible work environments.
Incorporating education-and-self-development opportunities, such as continuous learning and upskilling programs, can help attract and retain Gen Z employees, given that 74% of Vietnamese Gen Z desire upskilling and career growth from day one.
Moreover, aligning finance strategies with corporate social responsibility, including sustainability and environmental practices, resonates with Gen Z's priorities. According to Asia-Pacific Business Review research, 85% of Vietnamese Gen Z expect employers to demonstrate sustainability and corporate social responsibility.
