|Manufacturing is one of industries with high stress levels. Infographic courtesy of Anphabe|
HCM CITY — Turnover rates in the manufacturing industry in this year may reach 30 per cent, higher than the average of the overall market of 23 per cent, according to a survey conducted by Anphabe, a consulting firm providing Employer Brand and Happy Workforce solutions.
The survey with the participation of 10,489 respondents in the electronics, engineering and manufacturing industries was conducted between April and September last year.
It showed that turnover rates in the following year in engineering and electronics are expected to stand at 19 per cent and 22 per cent, respectively.
Thirty-two per cent of polled employees will consider moving to a new industry if they quit their job.
The higher the level of stress, the more employee efforts to devote themselves to work and commitment to the company decline.
The survey found that manufacturing is one of the industries with high stress levels. Nearly half of polled employees in manufacturing often have stress.
Around one-third of employees in the engineering industry often have stress and 41 per cent of employees in the electronics industry often have stress.
The increasing stress level has a profound effect on the quality of human resources, forcing companies to review current policies that take care of employee well-being, according to the survey.
A safe and secure career, income and healthy work-life balance have continuously been the top three career goals of employees.
Thirty-three per cent of employees expected reward systems, flexible working policies (32 per cent), health insurance for families (31 per cent), retention schemes (29 per cent), and non-health insurance (27 per cent).
Anphabe has recently polled 30 human resource professionals to gain insights on the strategic directions and HR solutions of their respective businesses in the near future.
Around 30 per cent of companies have plans to expand their workforce this year, with an average increase of 12 per cent.
However, 30 per cent of companies will continue to reduce their headcount at an average rate of 13 per cent this year.
Most companies are expected to maintain stable salaries, while approximately 18 per cent of companies are considering reducing their salaries. — VNS