Vietnam Labor Market Review. Ho Chi Minh City, 9 th November, 2016

Transcription

1 Vietnam Labor Market Review Ho Chi Minh City, 9 th November, 2016

2 Vietnam talent market at a glance

3 Vietnam: Highly competitive talent market Source: Vietnamworks

4 Recruitment trend senior level 40% Recruitment Trends Q1 - Q % 35% 30% 25% 29% 30% 25% 20% 15% 10% 16% 15% 12% 13% 12% 6% 8% 7% 5% 0% Manufaturing Consumer Goods & Retails Banking & Financial Services IT Q1 Q2 Q3

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7 Competitiveness entry level By Job Hubs By Job Categories

8 Market movements some highlights Vietnamese corporations start looking for qualified candidates for senior positions after a long period of applying family-based management models Supply scarcity: digital banking, bridge software engineering, thermal power, agriculture Vietnamese candidates have lost a lot of opportunities to Thai/SEA peers due to language limitation Drinks & Beverages, Logistics & Supply Chain: local senior managers are replaced by expats

9 Overall concerns: Attracting and Retaining Talents Source: LinkedIn Report 2016

10 Finding the right people: still challenging Source: Talent Trend 2015 by LinkedIn

11 Retaining the right people: top priority Source: LinkedIn Report 2016

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13 Background Survey conducted in Q Respondents: 2,000 senior candidates in Navigos Search s database Methodology: online questionnaire + sample interviews

14 Feeling enjoy with job 49% 41% Yes No Very Little 9% 49% respondents said that they only enjoyed very little with their current job

15 Frequency of thinking about changing job 9% I think of changing job very often 44% 20% 23% I often think of changing job I sometimes think of changing job I want to try but haven't found any opportunity I stay for other reasons 4% For those who are not enjoying at work, 52% respondents said they thought of changing job from sometimes to often level

16 Stress at work 3% 32% 12% 7% 46% No stress Very little Sometimes Often Very Often 90% respondents said they have stress at sometimes, often and very often level

17 Satisfaction of C&B 15% 58% 25% Unsatisfied and very unsatisfied Neutral Satisfied & Very Satisfied 25% respondents felt unsatisfied with their current C&B

18 Employee Reward and Recognition 17% 58% 25% Never Sometimes Often 25% respondents said they never being rewarded and recognized with good performance

19 Promotion Policy 15% 23% 59% Unclear promotion policy No promotion policy Good promotion policy 59% respondents felt promotion policy of company is unclear and 23% respondents said their company have no Promotion policy

20 Conclusion 1. Unhappy employees tend to leave whenever possible 2. Ratio of respondents who are not enjoying their job and have stress at work is unexpectedly high 3. To retain talents, salary is not the only solution 4. Recommended retention plan: Reward and recognition system Career advancement opportunities Working environment People s health

21 Hanoi Office 6th Floor, V-Building Ba Trieu Street Hai Ba Trung District, Hanoi, Vietnam Tel: (84 4) Fax: (84 4) Website: Ho Chi Minh Office Unit 702, 7F, Sunwah Tower 115 Nguyen Hue Blvd. District 1, Ho Chi Minh City, Vietnam Tel: (84 8) Fax: (84 8) Website: THANK YOU!