Talent Wars To Restart in Vietnam

Image credit: iStockphoto/wichianduangsri

After more than a year of weathering COVID-19, Vietnam employers are showing a need for new hires.

According to the Michael Page Vietnam’s Talent Trends 2021 Report, about 50% of companies in Vietnam are looking to increase their headcount, and 30% are maintaining the status quo in 2021. 

“By all accounts, Vietnam has weathered the COVID-19 pandemic better than many of its neighbors in the region. Its tight and swift control of the situation not only kept the number of cases low, by comparison, Vietnam's economy, too, remained in relatively good shape over 2020. While multinational companies based there were cautious on the recruitment front, domestic companies took the opportunity to ramp up their hiring activities and secure the best available talent,” said Mark Donnelly, director of Michael Page Vietnam.

The recruitment drive is mainly occurring in Vietnam's burgeoning technology sector. Startups and e-commerce, for instance, operated unabated throughout the year, and hiring demands within those sectors remain healthy.

Based on economic demands, Michael Page predicts that fast-moving consumer goods (FMCG), industrial/manufacturing, retail/e-commerce, healthcare/pharmaceuticals, and technology will see strong demand for new hires.

In addition to Vietnam's anticipated employment activity, Mark Donnelly sees increased opportunities for the country's high-potential individuals,

Donnelly saw this optimism feeding into economic recovery. “Looking ahead, Vietnam is well-positioned to bounce back from the ramifications of COVID-19. Once business and leisure travel resume, the economy should rebound quite quickly in due time. This should also put a lot of positive pressure on talent, especially for manufacturing, financial services, startups, and even real estate,” he said.  

Employees are also getting savvier on how they seek work. According to the report, 58% of employed professionals anticipate looking for new opportunities in 2021, while 34% are passively open to a new role. 45% of respondents also say they do extensive research before applying for a job.

Meanwhile, the talent pressure will see a drive toward employee training activities.

“We encourage businesses in Vietnam to focus on training and development for their employees, which will not only retain the very best talent in these trying times. It also readies the entire organization for the eventual recovery phase,” said Donnelly.

Image credit: iStockphoto/wichianduangsri