A REPORT ABOUT CAREER PROSPECTS & SKILL TRENDS IN VIETNAM

Transcription

1 A REPORT ABOUT CAREER PROSPECTS & SKILL TRENDS IN VIETNAM

2 WHAT IS A REPORT ABOUT CAREER PROSPECTS & SKILL TRENDS IN VIETNAM DURING ? Since 2013, the emergence of Industry 4.0 (the fourth industrial revolution) has continuously created substantial changes in science technology and socio-economic factors in many countries all over the world. These changes have affected various industries, including Human Resources. In order to help HR professionals to timely follow the market s latest movements, especially the changes in careers and skills due to the impact of Industry 4.0, VietnamWorks introduces A report about career prospects & skill trends in Vietnam during This report is in the series of recruitment market reports conducted by VietnamWorks and circulated in Vietnam.

3 TABLE OF CONTENTS Methodology The factors that influence labor market during The most promising jobs during The most trending skill sets during What does HR need to prepare for Industry 4.0? Conclusion Trang 1 Trang 3 Trang 6 Trang 8 Trang 16 Trang 20

4 METHODOLOGY To complete this research, VietnamWorks has conducted an independent survey in the 2nd half of 2018, with more than 200 HR professionals currently holding management positions at multinational corporations and top companies in Vietnam. In this survey, HR professionals are encouraged to predict changes in the factors that affect the Vietnam labor market and the skills needed for the future jobs. The mentioned factors, jobs, and skills in this report were referred to The Future of Jobs - a report from WEF and applied in the survey to collect responses from HR professionals in Vietnam. The above information and data have helped VietnamWorks provide broader and deeper insights about the recruitment market as well as predict which sectors and skills will become trends in Vietnam in the period of Methodology 1

5 THE WORLD LABOR MARKET WILL CHANGE CONSIDERABLY IN THE NEXT 5 YEARS 75 million The number of jobs disappearing by 2022 According to the WEF's "The Future of Jobs report, by 2022, approximately 75 million jobs will disappear due to changes in science, technology and socio-economy. The world labor market will change considerably in the next 5 years 2

6 THE FACTORS THAT INFLUENCE THE LABOR MARKET According to HR professionals around the world, in the coming years, the technological and socio-economic factors are predicted to fluctuate ceaselessly, creating direct impacts on the global labor forces. So, what are the factors that have such strong influences on the Vietnamese market? The factors that influence the labor market

7 TECHNOLOGICAL FACTORS Robots, Automation Mobile internet, cloud technology Processing power, Big Data Internet of Things New energy supplies and technology Artifitial intelligent (AI) 59% 57% 54% 50% 49% 49% Sharing economy, crowdsourcing 40% Advanced manafacturing, 3D printing Advanced materials, biotechnology 31% 34% The most influential technological factors in the labor market over the next five years are mainly from automation and information technology. New business models, or innovations in biology, physics are still important, but the impact is not as high as the rest. The factors that influence the labor market

8 SOCIO-ECONOMIC FACTORS The changes in nature of work, flexible work The development of elite labor The development of young demographic Rapid urbanization Consumer ethics, privacy issues Climate change, natural resources Geopolitical volatility Longevity, ageing societies Women's economic power, aspiration 40% 40% 36% 31% 25% 55% 54% 50% 66% The knowledge economy will be the main driver of socio-economic changes in the coming years. In addition, the need for privacy, greater awareness of environmental responsibilities, age pyramid structure and the influence of women also have a powerful impact on the overall economy. The factors that influence the labor market

9 THE MOST PROMISING JOBS The technological and socio-economic factors affect more or less the overall labor market in the period of What are the most promising jobs in the next 5 years? The most promising jobs

10 THE MOVEMENT OF CAREER PROSPECTS High Tech & Engineering 2% 8% 90% Computer & Technology 2% 9% 89% Arts, Design, Entertainment, Sports & Media 7% 31% 62% Management 5% 34% 61% Finance 5% 45% 50% Production & Manafacturing Sales & Related Legal 13% 17% 15% 42% 45% 39% 44% 42% 43% Installation & Maintenance 12% 34% 54% Construction & Extraction 21% 33% 46% Administrative & Clerical 10% 42% 48% Decrease Constant Increase Due to the significant growth of Robots/Automation as well as Information Technology, High Tech & Engineering and Computer & Technology are forecasted to escalate the most in terms of human resources demand in the future. In contrast, repetitive jobs such as administrative and clerical may be replaced by machinery. The most promising jobs

11 THE MOST TRENDING SKILLS The development of new jobs or the transformation of the existing ones will require new abilities and skills in the future. Based on the needs of the employers, what are the abilities and skills that will become trends in the next 5 years? The most trending skills

12 ABILITIES NEEDED IN THE FUTURE Problem Sensitivity Creativity Cognitive Flexibility Logical Reasoning Physical Strength Mathematical Reasoning Visualization Manual Dexterity and Precision 15% 29% 34% 45% 51% 87% 86% 85% The most trending skills

13 BASIC SKILLS NEEDED IN THE FUTURE Active Learning ICT Literacy Monitoring Self and Others Critical Thinking Active Listening Oral Expression Written Expression Reading Comprehension 28% 28% 50% 58% 87% 77% 77% 75% The most trending skills

14 CROSS-FUNCTIONAL SKILLS NEEDED IN THE FUTURE Cooperating with Others 79% People Management Emotional Intelligent Judgement and Decision Making Complex Problem Solving Negotiation Time Management Systems Analysis Persuasion Training and Teaching Others Management of Finacial Resources Service Orientation Troubleshooting Quality Control 67% 65% 65% 63% 60% 59% 58% 57% 54% 50% 43% 43% 41% Technology and User Experience Design Management of Material Resources Programming Equipment Maintenance and Repair Equipment Operation and Control 31% 26% 20% 18% 17% The most trending skills

15 ABILITIES DEFINITION COGNITIVE FLEXIBILITY The ability to generate or use different sets of rules for combining or grouping things in different ways CREATIVITY The ability to come up with unusual or clever ideas about a given topic or situation, or to develop creative ways to solve a problem LOGICAL REASONING The ability to combine pieces of information to form general rules or conclusions (including finding a relationship among seemingly unrelated events) and/or to apply general rules to specific problems to produce answers that make sense MANUAL DEXTERITY AND PRECISION The ability to make precisely coordinated movements to grasp, manipulate or assemble objects MATHEMATICAL REASONING The ability to choose the right mathematical methods or formulas to solve a problem PHYSICAL STRENGTH The ability to exert maximum muscle force to lift, push, pull, or carry objects PROBLEM SENSITIVITY The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem VISUALIZATION The ability to imagine how something will look after it is moved around or when its parts are moved or rearranged The most trending skills

16 BASIC SKILLS DEFINITION ACTIVE LEARNING Understanding the implications of new information for both current and future problem-solving and decision-making ACTIVE LISTENING Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate and not interrupting at inappropriate times CRITICAL THINKING Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems ICT LITERACY Using digital technology, communications tools, and networks to access, manage, integrate, evaluate and create information MONITORING SELF AND OTHERS Monitoring/assessing performance of yourself, other individuals or organizations to make improvements or take corrective actions ORAL EXPRESSION Talking to others to convey information effectively READING COMPREHENSION Understanding written sentences and paragraphs in work-related documents WRITTEN EXPRESSION Communicating effectively in writing as appropriate for the needs of the audience The most trending skills

17 CROSS-FUNCTIONAL SKILLS DEFINITION COMPLEX PROBLEM SOLVING Developing capacities used to solve novel, ill-defined problems in complex, real-world settings COORDINATING WITH OTHERS Adjusting actions in relation to others actions the relative costs and benefits of potential actions to choose the most appropriate one EMOTIONAL INTELLIGENCE Being aware of others reactions and understanding why they react as they do EQUIPMENT MAINTENANCE AND REPAIR Performing routine maintenance on equipment and determining when and what kind of maintenance is needed and/or repairing machines or systems using the needed tools EQUIPMENT OPERATION AND CONTROL Watching gauges, dials or other indicators to make sure a machine is working properly; controlling operations of equipment or systems JUDGEMENT AND DECISION MAKING Considering the relative costs and benefits of potential actions to choose the most appropriate one MANAGEMENT OF FINANCIAL RESOURCES Determining how money will be spent to get the work done, and accounting for these expenditures. MANAGEMENT OF MATERIAL RESOURCES Obtaining and seeing to the appropriate use of equipment, facilities, and materials needed to do certain work. NEGOTIATION Bringing others together and try to reconcile differences PEOPLE MANAGEMENT Motivating, developing and directing people as they work, identifying the best people for the job The most trending skills

18 CROSS-FUNCTIONAL SKILLS DEFINITION (CONT.) PERSUASION Persuading others to change their minds or behavior PROGRAMMING Writing computer programs for various purposes QUALITY CONTROL Conducting tests and inspections of products, services, or processes to evaluate quality or performance SERVICE ORIENTATION Actively looking for ways to help people SYSTEMS ANALYSIS Determining how a system should work and how changes in conditions, operations, and the environment will affect outcomes TECHNOLOGY AND USER EXPERIENCE DESIGN Generating or adapting equipment and technology to serve user needs TIME MANAGEMENT Managing one's own time and the time of others. TRAINING AND TEACHING OTHERS Teaching others how to do something TROUBLESHOOTING Determining causes of operating errors and deciding what to do about it. The most trending skills

19 WHAT DOES HR NEED TO PREPARE FOR INDUTRY 4.0? What does HR need to prepare for indutry 4.0? 16

20 WHAT DOES HR NEED TO PREPARE FOR INDUSTRY 4.0? It can be seen that the market is experiencing considerable fluctuations in a much shorter time than previous industrial revolutions. Therefore, having a thorough understanding of the market knowledge and information is extremely essential for HR professionals to be able to innovate timely and identify the most appropriate strategies to attract and recruit talents. RELIABLE MARKET SOURCES VietnamWorks market reports Market analysis articles on HR Insider Newspapers and mass media What does HR need to prepare for indutry 4.0? 17

21 WHAT DOES HR NEED TO PREPARE FOR INDUSTRY 4.0? Once there is a certain fluctuation in the market, these are the responses of Vietnamese HR professionals to these changes, according to WEF's "The Future of Jobs" report. Recruiting full-time employee possessing skills suitable for new technology 87% 12% 1% Developing automation 87% 8% 5% Training current employees 82% 13% 5% Outsourcing some business departments from specialized vendors 69% 25% 6% Letting employees learn from their current job 68% 14% 18% Recruiting part-time employee possessing skills suitable for new technology 64% 29% 7% Hiring freelancer possessing skills suitable for new technology 61% 26% 13% Strategizing to reduce staff lacking skills suitable new technology 58% 18% 24% Will Invest Probably Invest Probably Not Invest What does HR need to prepare for indutry 4.0? 18

22 WHAT DOES HR NEED TO PREPARE FOR INDUSTRY 4.0? Market fluctuations and the creation of new jobs result in a huge demand for new abilities and skills in the 4.0 era. In addition to recruiting full-time employees possessing skills suitable for new technology, over 82% of HR professionals in Vietnam choose to train the current human resources. These are the methods HR professionals plan to apply in their training programs. Internal Training 47% Training through vendors 20% What does HR need to prepare for indutry 4.0? 19

23 CONCLUSION Conclusion 20

24 1 2 3 The key technological factors that will cause changes in the labor market over the next 5 years include: (1) Robots and Automation, (2) Mobile Internet, Cloud Technology, and (3) Processing Power, Big Data. The key socio-economic factors that cause market volatility in the next 5 years include: (1) changes in nature of work, flexible work, (2) development of elite labor, and (3) the development of young demographic. Top 3 most promising industries in the next 5 years are: (1) High Tech & Engineering, (2) Computer & Technology, and (3) Arts, Design, Sports, & Media. Conclusion 21

25 4 Top 3 abilities that will become important in the next 5 years include: (1) Problem Sensitivity, (2) Creativity, and (3) Cognitive Flexibility. 5 Top 3 basic skills that will become important in the next 5 years include: (1) Active Learning, (2) ICT Literacy, and (3) Managing Self and Others. 6 Top 3 cross-functional skills that will become important in the next 5 years include: (1) Cooperating with Others (2) People Management, and (3) Emotional Intelligence. Conclusion 22

26 7 Most employers choose to recruit new human resources, in addition to training existing employees when there are changes in the labor market. 8 If training is required, HR professionals primarily invest in internal training, rather than cooperating with external training providers. 9 In short, as society and especially the labor market are constantly changing at a rapid pace, regular updating of information is necessary. Reputable sources include: VietnamWorks market reports, market analysis articles on HR Insider, and other mainstream news channels. Conclusion 23

27 VIETNAMWORKS With over 8 million monthly visits, VietnamWorks is the leading and longest running job website in Vietnam. Every year, 4.7 million job applications are delivered to more than 95 thousand job openings on VietnamWorks.com. Since it was founded in 2002, VietnamWorks has continuously brought fresh jobs to 3.6 million registered professionals and always pioneered in providing the best recruitment solutions to more than 15,000 companies, most of which are multinational corporations and top companies in Vietnam. VietnamWorks large database of experienced jobseekers and reliable employers is an invaluable asset in Vietnam s competitive recruitment market. To stay up to date on the latest researches and insights from VietnamWorks, subscribe our HR Insider page at: hrinsider.vietnamworks.com. To get consulted by our VietnamWorks staff on your recruitment campaign, please contact us via our hotlines (028) (Ho Chi Minh City) and (024) (Ha Noi) or via our marketing@vietnamworks.com.