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Vietnam expects robust job market growth

/ 09:40 PM July 23, 2018

Speakers at the press conference “Key Winning Strategies to Gear up for a Robust Job Market Outlook 2018” held yesterday in HCM City. VNS

HCM CITY — Hiring expansion remains robust this year in Vietnam, though not as high as 2017, speakers said at a press conference held last week in HCM City.

Based on the survey “Job Outlook Report 2018” conducted by SEEK Asia, the number of companies planning to expand business has increased by 50 per cent, 18 percent less than that of 2017.

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Meanwhile, 10 percent said they would maintain their hiring rate in 2018.

In addition, the number of new enterprises and the amount of registered capital increased by three times compared to 2014, according to a report from the Ministry of Planning and Investment.

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Growth of start-ups and foreign companies has given candidates more choices, according to SEEK Asia, which combines the two job portals, JobStreet and jobsDB under one roof.

Speaking at the press conference, Angie Phang, country manager in Vietnam of JobStreet.com, said hiring expansion growth had ignited greater competition among companies for good staff.

The candidates still prefer online job portals to apply or monitor new job opportunities, with a higher score in 2018 compared to 2017.

According to Nguyen Thi Thu Trang, country head of operations for JobStreet.com, candidates can select a vast range of job opportunities online.

The job market also offers new types of skills and jobs.

The recruitment industry is now a candidate-driven market, especially with the development of technology, and the number of companies and candidates.

In contrast to Southeast Asia, hirers and candidates in Vietnam do not see a brighter market this year compared to 2017.

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However, the number of jobs across the region, including in Vietnam, has increased dramatically, creating more competition in hiring and retaining talented staff.

As for benefits, a transportation plan and housing rental allowance are desired by employees in Vietnam, while flexible working hours and childcare support are sought by candidates in other countries in the region.

Because of the competitive market, an innovative platform must be used for talent acquisition and retention strategies, according to SEEK Asia.

Technology must be in place to have continuously updated candidate analytics, while cross-nation insight should be used to recruit top talents.

The press conference “Key Winning Strategies to Gear Up for a Robust Job Market Outlook 2018” was organized by JobStreet.com, a job portal in Southeast Asia.

Founded in 1997, JobStreet.com serves over 260,000 corporate customers and 19,000,000 jobseekers.

Jora is an Australia-based search engine for jobs with presence in more than 32 countries, including Vietnam.

Unlike traditional job boards, users can search through hundreds of thousands of career opportunities, all sourced from many job sites from around Vietnam.

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TAGS: Asia, Business, Job Market, Vietnam
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