REPORT OF MID & HIGH LEVEL PERSONNEL HIRING DEMAND IN VIETNAM IN Q2/2022 AND FORECAST IN Q3/2022

A 20% increase was recorded in the number of job vacancies posted on the VietnamWorks website in the first half of 2022 compared to the corresponding period of 2021.

In Q2/2022, an increase of 20% with over 36,000 job vacancies was observed on the online recruitment website VietnamWorks, compared to the corresponding period of 2021. The total number of job vacancies posted on the website in the first 6 months in 2022 was more than 65,000, representing a 20% rise in comparison with the same period of 2021.

The top 10 jobs with the most remarkable demand on Q2 include:
– Finance/Investment
– Sales
– Information Technology/Software
– Marketing
– Accounting
– Civil Construction
– Administration/Accounting
– Banking
– Auditing
– Electrical/Electronics

Banking – Financial Services – Insurance remains a critical hiring demand in jobs related to digital transformation

In addition to the ongoing hiring demand for digital banks and technology, the banking industry’s needs of personnel are leaning towards the Transaction, Corporations, and Risk Management sectors. Besides, the typical non-life insurance firms are fostering digital services and prevailing on recruiting channels through hiring Marketing, Digital Products, and Digital Sales positions.

Employers are seeking candidates with experience deploying in Vietnam for digital transformations. However, candidates barely meet the needs, resulting in recruitment competitiveness among firms.

The forecast for the audit industry in the third quarter indicates that there will be an increase in recruitment demand beginning in early July because of the phenomenon of personnel transition in the audit segment, with an increase in recruiting demand for tax consultants and customs.

Recruiting demand for Retailing is rising in Quarter 3

Candidates in the retail industry are actively looking for job opportunities in Quarter 2. After Covid, candidates in this industry often require a salary payment of 30% – 50% higher compared to the previous pay level. The reason given is that due to the influence of 2 years of Covid, their salary payments were not increased, and even reduced. It usually leads to demanding a higher salary payment offer than before 2019. Candidates usually guarantee their working quality and expect to receive a base salary offer as high as possible. In addition, candidates in this industry are interested in the hybrid working model or working remotely full-time.

The Retail employers are accelerating the operations of new stores to compensate for the closed ones in 2021. Therefore, businesses in this segment enhance the number of personnel, focusing on Finance – Accounting, Sales, Marketing, and Merchandiser. The demand for recruiting personnel is forecasted to grow remarkably in the next 3 to 6 months.

Hiring demand in the Information Technology sector is accelerating

Due to the impacts of the Russian-Ukrainian conflicts, numerous contracts and orders related to information technology (IT) is transferred to the Vietnamese market. Besides, hiring demand continues to rise as businesses fully expect economic recovery after Covid. Enterprises demanding expansion and reorganization will further the numbers of IT engineers, responding to the need for operating digital centers and digitizing organizations.

The vacancies are mainly technical positions such as Software Development, Data Engineering, DevOps Engineer, Artificial Intelligence (AI) Engineer, and also include some non-IT positions such as Sales Manager, etc. The vacancies are mainly at a medium level instead of a high level due to segment fluctuations after the Covid epidemic.

Aside from requiring technical skills and English language proficiency, many companies offer flexible working options such as remote work or hybrid work. Candidates must also be able to function without close supervision, be flexible and adaptable, and have a disciplined approach to their work.

Recruitment demand is increasing in the Industrial Real Estate sector

Foreign Direct Investment (FDI) enterprises gradually choose Vietnam as an investment destination, especially European firms. It is one of the factors promoting industrial real estate to continue to thrive shortly, especially in the smart integrated ready-built factory and warehouse segment, aiming for medium and small-scale investment projects. The market also witnessed the appearance of multiple new enterprises in the industrial real estate segment besides the traditional ones.

As demand for production and consumption has almost completely recovered after the Covid-19 epidemic, firms in the Industrial Real Estate segment continue to expand and invest in more projects. Some positions such as Rental Manager, Industrial Property Manager, and Investment Manager require human resources when the labor market has not responded with enough qualified candidates.

Employers often prioritize Vietnamese candidates in this sector, particularly those with experience. The past three years have noticed a rapid expansion of this sector, making it challenging to fill numerous positions with qualified candidates. It puts pressure on employers to consider alleviating their hiring standards and offering flexible remuneration if they want to attract quality candidates.

In case candidates are looking forward to tempting opportunities in this industry, they need to be fluent in one more foreign language besides English, expand their networking, develop soft skills in communication and presentations, and learn about Investment Law, Land Law, etc.