Employment in Vietnam Recovers as 50% of Companies Increase Headcount in 2021: Michael Page Vietnam Survey
- Written by Reporters
HO CHI MINH, VIETNAM - Media OutReach - 14 April 2021 - Professional recruitment services Michael Page Vietnam launched the Talent Trends 2021 Report, with a keen eye on the Vietnamese job market. The COVID-19 pandemic and the resulting economic downturn has had a significant impact across the Asia Pacific, and Vietnam was not spared. With that said, optimism is already starting to show, with about 50% of companies in Vietnam looking to increase their headcount and 30% maintaining status quo in 2021.
Mark Donnelly, Director of Michael Page Vietnam
Mark Donnelly, Director of Michael Page Vietnam says, " By all accounts, Vietnam has weathered the COVID-19 pandemic better than many of its neighbours 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 a 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."
This recruitment activity was evident, especially among Vietnam's burgeoning technology sector. Startups and e-commerce, for instance, operated unabated throughout the year, and hiring demands within those sectors were healthy.
In view of the economic demands, the sectors earmarked for highest hiring activity are fast moving consumer goods (FMCG), industrial/manufacturing, retail/e-commerce, healthcare/pharmaceuticals as well as technology.
In addition to Vietnam's anticipated employment activity, Mark Donnelly sees increased opportunities for the country's high-potential individuals, "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."
According to the report, 58% of employed professionals anticipate looking for new opportunities in 2021 while another 34% is passively open to new role. 45% of respondents also say they do extensive research before applying for a job. This suggests increased employment activity in Vietnam within a savvy candidate pool who are becoming increasingly empowered with a wealth of information.
Mark Donnelly advises, "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 organisation for the eventual recovery phase."