The Vietnamese workforce underwent a significant transformation in 2019. The demand for senior and managerial personnel continued to increase, particularly in the manufacturing, information technology, and banking sectors.

Vietnamese human resources must improve to keep up with the demands of the economy.

2018 marked Vietnam's highest GDP growth rate in a decade: 7.08%. According to the World Bank Doing Business 2018, Vietnam's business environment ranked 69th out of 190 countries, a 13-place increase in recent years. The US-China trade war made Vietnam a hot spot for many large corporations planning to rebuild their supply chains. Total foreign direct investment (FDI) in industrial parks and economic zones reached over US$8.3 billion, signaling a vibrant 2019. With the impact of the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP), the strong development of blockchain and AI, and the US-China trade war, 2019 was an exciting year for the Vietnamese labor market.

“The Vietnamese economy will continue to grow strongly in 2019. High-level personnel with management capabilities will become valuable assets for businesses, with salary and benefits packages increasing by 10-20%. However, the majority of Vietnamese workers, despite being very diligent and having an entrepreneurial spirit, are not yet ready for the fourth industrial revolution. Workers need to continuously improve their skills and knowledge to keep up with the demands of the economy,” said Andree Mangels, General Director of Adecco Vietnam.

Many industries are experiencing a shortage of high-level personnel.

In fact, highly experienced and qualified candidates continue to be in high demand, not only in the manufacturing industry, but also from HRBP (Human Resources Business Partner) organizations.

The presence of the top 4 Japanese law firms (Anderson Mōri & Tomotsune, Mori Hamada & Matsumoto, Nagashima Ohno & Tsunematsu, and Nishimura & Asahi) and the top 6 Korean law firms (Kim & Chang; Bae, Kim & Lee; Lee & Ko; Yulchon; Shin & Kim, and Yoon & Yang) in the Vietnamese market signals a vibrant year for the legal industry. 

Fintech, blockchain, and AI continue to be trends in the IT industry in 2019. Salaries for Python, .NET, Java, and blockchain software engineers are expected to increase by 10-20%, reflecting the efforts of technology companies to attract talent.

The financial services sector is also experiencing a significant shift in workforce. According to the State Bank of Vietnam's Statistical Forecast, in 2019, 76.7% of credit institutions are expected to increase their workforce, focusing on banking services departments. Positions such as retail relationship manager and agency development manager are highly sought after by banks and insurance companies, offering attractive benefits packages and career advancement opportunities.


Nguồn: Adecco Vietnam

In an effort to attract and retain talent, businesses will spend more on compensation and benefits packages. Training programs for existing employees, as well as company culture introductions to attract new hires, will also be intensified. However, for senior personnel seeking opportunities in talent management and business collaboration, the business partner position will be the most sought-after.

Source of the article: Internet