​PRESS RELEASE

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VIEC LAM TOT AND MANPOWERGROUP VIETNAM COLLABORATE

TO PROVIDE WORKERS WITH SUSTAINABLE AND MEANINGFUL JOBS

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Ho Chi Minh City, June 24, 2024 - Today, Viec Lam Tot (www.vieclamtot.com), an online recruitment and job search platform launched and developed by Cho Tot Company Limited and ManpowerGroup Vietnam, the leading global workforce solutions company, officially signed a memorandum of understanding (MOU). This cooperation is expected to provide sustainable and meaningful employment opportunities for workers in Vietnam.

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Vietnam’s Labor Market: Recovery and Challenges

A recent report, titled “The Quest for Meaning at Work” by Jobs_that_makesense Asia and Manpower Vietnam found that 99% of surveyed Vietnamese workers indicated that having meaning at work was important to them, but only about 11% feel “very satisfied” with the level of purpose in their current role, the lowest rate among Southeast Asian countries. The report also revealed that 49% of respondents are considering a career transition.

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Looking deeper into personal aspirations, 40% of respondents said that salary and job stability were their top priorities, ahead of career advancement and personal growth. Significantly, the pursuit of a high salary is not driven by the quest for material wealth but rather by the aim to provide comfort and security for one’s family. As for the societal contribution factors, 85% of respondents said that a company’s reputation for social responsibility influences their decisions to pursue employment with them.

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By the end of the first quarter of 2024, the Vietnamese economy and the labor market have been experiencing a positive recovery and growth. According to the General Statistics Office, the number of newly established and re-established enterprises in the second quarter increased by 5.1% compared to the same period in 2023. According to Viec Lam Tot data, the number of recruitment ads in the second quarter of 2024 increased by 30% compared to the first quarter of 2024. Recruitment demand increased the most in certain job types such as Retail sales staff, Logistics workers, White-collar workers with the number of ads increasing by 40%, Salesman & Housemaid (increased by 30%), Manufacturing workers (increased by 24%), and Delivery & Logistics (increased by 15%). Job search demand in the second quarter of 2024 recorded a positive signal, increasing by 18% compared to the first quarter of 2024.

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However, the labor market still faces challenges. As reported by the General Statistics Office, about 2.3 million Vietnamese workers (4.4%), mostly aged 15-34, are not utilizing their full potential in the first quarter of 2024. Workers' income also fluctuates in different occupations. Viec Lam Tot data shows that the average salary range of some job types in the first half of 2024 shrinks by 8-13% compared to the same period in 2023 such as Sales staff, Blue-collar workers, and Security guards. Meanwhile, the average salary range of job postings in the field of Retail and F&B service increased by more than 15%.

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A partnership in providing Vietnamese workers with sustainable and meaningful work

In consideration of the labor market challenges, the dynamic workforce demand of businesses, and significant changes in the job selection criteria of Vietnamese workers while there are many opportunities for improvement in labor quality, the strategic cooperation between Viec Lam Tot and ManpowerGroup Vietnam becomes more essential and meaningful.

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Specifically, the cooperation between the two parties helps employers meet their high-quality human resource needs on time by providing workers with more meaningful and sustainable jobs. Workers looking for jobs on Viec Lam Tot can easily access the latest job opportunities from ManpowerGroup Vietnam with competitive salaries and benefits and stay updated with professional career orientation materials from ManpowerGroup Vietnam experts (application writing skills, interviewing skills, etc.). Meanwhile, Viec Lam Tot connects millions of workers to businesses with solutions to improve recruitment productivity such as flexible application and candidate information reception systems, candidate management systems, smart features to shorten the screening process, etc. to ensure timely supply of human resources to satisfy the fluctuating production and business plans.

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Other collaboration activities between Viec Lam Tot and ManpowerGroup Vietnam include partnering to release market reports on the latest recruitment and job search trends and implementing a series of programs to promote long-term and meaningful employment, with the goal of increasing the local human resource market's adaptability to economic fluctuations.

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Ms. Hoang Thi Minh Ngoc – Chief Growth Officer, Cho Tot Company Limited shared: “With the advantage of technology and big data combined with the understanding of users through more than a decade of accompanying 10 million Vietnamese people every month on Cho Tot, Viec Lam Tot is proud to bring to Vietnamese workers a smart, easy-to-use, and effective online platform, helping them find new job opportunities to make life easier, more convenient, and more meaningful every day. We highly value the strategic partnership between Viec Lam Tot and ManpowerGroup Vietnam, which aims to connect reliable and sustainable job opportunities from ManpowerGroup Vietnam with millions of job seekers on the Viec Lam Tot platform, collaborate with businesses to effectively solve recruitment challenges, and directly contribute to the development of the labor market.”

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Ms. Nguyen Thanh Huong – Country People & Culture Manager, ManpowerGroup Vietnam shared: “After more than 16 years of operation, ManpowerGroup Vietnam is honored to cooperate with hundreds of businesses of varying sizes and fields, as well as connect thousands of workers across Vietnam with jobs every year. We deeply understand enterprises’ challenges in finding suitable personnel for the constantly changing production and business needs, as well as the difficulties that workers encounter when looking for suitable, reliable and sustainable job opportunities. Through our cooperation with Viec Lam Tot, ManpowerGroup Vietnam wishes to introduce more job opportunities from our partners to workers nationwide, helping them find jobs that meet their needs and expectations while providing a better income and greater purpose.”

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The partnership between Viec Lam Tot, the leading online recruitment platform, and ManpowerGroup, the leading global workforce solutions company, marks a significant step forward in meeting Vietnam's increasingly diverse recruitment needs and establishing a solid bridge between human resource supply and demand.

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ABOUT VIEC LAM TOT

Việc Làm Tốt (www.vieclamtot.com) is an online job search and recruitment platform launched in November 2021 by Chợ Tốt. Việc Làm Tốt provides a simple, easy-to-use, and effective platform for both job seekers and employers across 24 different industries, connecting millions of job seekers to million job opportunities from 40,000 businesses nationwide.

For more information, visit: www.vieclamtot.com

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ABOUT CHO TOT

Cho Tot (www.chotot.com) is part of the Asian tech unicorn Carousell Group - the leading multi-category platform for secondhand in Greater Southeast Asia, leading presence in seven markets under the brands Carousell, Carousell Media Group, Cho Tot, Laku6, LuxLexicon, Mudah.my, OneShift, REFASH and Revo Financial, serving tens of millions of monthly active users.

In the Vietnamese market, Cho Tot is the leading online marketplace with over 10 million users and 55 million monthly visits across various categories: Real Estate (proptech platform Nha Tot), Vehicles (Cho Tot Xe), Jobs (online job board Viec Lam Tot), Electronics, Pets, Furniture, Household Items, and more.

For more information, visit: www.chotot.com

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ABOUT MANPOWERGROUP VIETNAM

ManpowerGroup is the largest global staffing company in Vietnam, operating in the country since 2008. We are the first 100% foreign-invested company licensed to provide recruitment, staffing and outsourcing services by the Ministry of Labor, Invalids and Social Affairs (MOLISA) since 2008.

​Manpower is part of ManpowerGroup – the world’s leading workforce expert. Every day, thousands of people go to work because of Manpower; and hundreds of companies thrive because of people we find for them. In the local market, Manpower is the global leader in contingent and permanent staffing, providing organizations of all sizes with a continuum of staffing solutions to enhance business agility and competitiveness.

With our thorough understanding of staffing trends and our deep pool of highly qualified candidates, Manpower can deliver the talent, matching the right individual to the right job – faster and with better business results.

For more information, visit: www.manpower.com.vn

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ABOUT MANPOWERGROUP

ManpowerGroup® (NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing, and managing the talent that enables them to win. We develop innovative solutions for hundreds of thousands of organizations every year, providing them with skilled talent while finding meaningful, sustainable employment for millions of people across a wide range of industries and skills. Our expert family of brands – Manpower, Experis, and Talent Solutions – creates substantially more value for candidates and clients across more than 70 countries and territories and has done so for 75 years. We are recognized consistently for our diversity – as a best place to work for Women, Inclusion, Equality, and Disability, and in 2024 ManpowerGroup was named one of the World's Most Ethical Companies for the 15th time – all confirming our position as the brand of choice for in-demand talent.

For more information, visit www.manpowergroup.com

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