High-tech manufacturing and the Consumer Goods Industry lead the demand for high-level personnel and attractive salaries

According to statistics based on recruitment needs from Navigos Search, the top 5 industries with the highest recruitment demand in Q3/2019 are High-tech Manufacturing; Consumer Goods; Information Technology; Banking and Financial; Professional Services.

High-tech Manufacturing and Consumer Goods also have the highest salary for managerial positions. If compared to the same job level and position, these two industries can propose a 2.5 times higher salary than the Retail industry, and almost 4 times higher than the Hospitality industry.

Lack of high-quality candidates with the Chinese language, the employer chooses to compromise on the language factor

Currently, direct investment capital from Hong Kong, Taiwan, and China into Vietnam continue to increase sharply, resulting in a significant increase in the demand for recruiting Chinese-speaking candidates. Most of these companies have factories in China, plan to expand or move part or all of their production to Vietnam. Hence, they need Vietnamese candidates who can speak Chinese to be able to work directly with the management team from China.

Because the source of candidates who have both knowledge and experience related to the technical field, and possess the ability to speak Chinese is relatively scarce in the market. Therefore, the temporary solution of many businesses is to prioritize the recruitment of candidates with professional experience and recruit along translators to support them in work.

Increasing the trend of hiring home-based candidates for Manufacturing

As observed by Navigos Search, many businesses from European countries in the Textile/Footwear segment tend to search for home-based candidates through HR agencies in Vietnam. Those candidates then will report to European headquarters as Italy, Germany, France. This can be considered as a sign that Vietnam is becoming a potential investment destination for businesses from Europe.

In the Commercial/Industrial Business industry, investment enterprises from North America (USA, Canada) tend to set up representative offices in India, instead of their country. Accordingly, these employers also need to find candidates to work independently in Vietnam, but candidates are required to report directly to the office in India.

Those candidates working independently as Manager positions are paid a salary of about US $ 2,000 – 4,000, other costs such as travel, communication costs … are paid entirely by the company. Employers may require candidates to equip themselves with work equipment (such as laptops), in addition to requiring time management skills and self-discipline.

Investors are more assertive in Vietnam amid the delay of US-China trade negotiations

The US-China trade talks are still delayed and no conclusions have been reached, leading to more investors making decisions to enter Vietnam faster than before. As observed by Navigos Search, this is also considered to be the reason related to the increase in recruitment demand in the Manufacturing Industry in the North, whereby the third quarter has increased by 30% compared to Q2/2019.

Applying technology in Real Estate and Education, it is expected that there will be a shortage of high-level human resources.

Navigos Search is forecasted that in the next 6 months, the High Technology industry will continue to have a strong growth in recruitment demand, as industries such as Real Estate and Education tend to promote the development of digital models. Especially in the near future, there will be more businesses in the field of EdTech.

Most of the mid-level domestic candidates still meet the recruitment requirements of the market, but in some new areas, they have not met the professional requirements. Therefore, employers will prefer to recruit candidates from countries like Europe, the US, Australia, or those who can use English as a native speaker.

The implementation of energy projects provides many job opportunities for senior candidates

In the third quarter, the demand for recruiting personnel in the energy segment showed signs of increasing as some large projects in the South started to deploy and build. Employers tend to look for candidates with good command of a foreign language, in addition to professional and experience requirements. The demand for engineers operating on renewable energy projects is also expected to increase in the fourth quarter of 2019 and 2020.