Adecco Vietnam’s Q2/2022 labor market update shows the same volume of hiring requests year on year. However, some industries have increased the demand for recruitment while trying to bounce back and move forward.
According to Thu Ha Nguyen, director of Adecco’s office in Hanoi, the demand for IT personnel continues to soar. Digital transformation, big data, cloud computing and IoT trends not only provide many local opportunities for Vietnamese IT personnel, but also open up remote opportunities in overseas companies and projects. Therefore, although many companies offer attractive salaries and bonuses, they still have to make an effort to recruit highly specialized candidates.
She also noted that the demand for labor in manufacturing companies, such as electronics, textiles and chemicals, has increased significantly this year and will most likely continue to do so.
Vietnam has benefited greatly from China’s manufacturing exodus and FTAs with the EU, Japan and South Korea. Recently, trade tensions between the United States and China as well as production disruptions in China have prompted companies to diversify their supply chains.
Vietnam, along with other Southeast Asian countries, is seen as a potential destination as industrial companies ramp up production to compensate for recent years of stagnation.
However, the lack of skilled labor is one of the main obstacles for many. With the immense need for workers, those in production management, quality assurance and engineering positions are in high demand.
In addition to manufacturing and technology-related companies, catering, consumer electronics and energy companies are also coming to us with large hiring enquiries.
The search for talent in business, sales, marketing and software engineering roles is highly competitive as candidates have been overwhelmed with opportunities from new market players.
It should be noted that there is a shortage of candidates in the financial services and insurance sectors given the fluctuations of the stock market in recent months, encouraging employees to leave for more stable and buoyant sectors.
When it comes to industries that have been heavily impacted by the pandemic, such as hospitality and entertainment, massive recruitment drives and employer branding activities can help alleviate labor shortages. However, the risk of losing key people to other companies arises when they realize that sustainable industries with flexible cultures are more attractive and less vulnerable to uncertainty.