Vietnam Emploment utlook - Michael Page Vietnam

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Vietnam Employment Outlook

Contents

AboutThe Michael Page Employment Outlook is our annual market report developed to provide hiring managers and candidates with an overview of market trends, hiring demands and job seekers’ sentiments within each industry.

This year’s Michael Page Employment Outlook is available in 13 markets across the Asia-Pacific region: Australia, Hong Kong, India, Indonesia, Japan, Mainland China, Malaysia, New Zealand, Philippines, Singapore, Taiwan, Thailand and Vietnam.

Report methodologyThe Michael Page Employment Outlook is derived from our proprietary data and network, which includes job advertisements and placements between July 2018 and June 2019. The report also incorporates 1,000 data points from our database in Vietnam, as well as supplemental information from various PageGroup studies, such as the Job Applicant Confidence Index. Furthermore, insights from our business leaders, as well as the recruiters’ interactions with companies and industry professionals, are taken into consideration.

Infographic: What is the Vietnam workforce thinking? �� 4

E-commerce �� 6

Financial Services & Fintech �� 7

Fast Moving Consumer Goods (FMCG) & Retail �� 8

Manufacturing & Industrial �� 9

Services ��10

Transport & Distribution ��11

2 | Michael Page Vietnam Employment Outlook 2020

Vietnam catches a wave for growth and hiring

As we launch into a new decade, nobody can deny that globally there are some economic dark clouds on the horizon� But sitting in Vietnam, a nation that has always overcome the odds, there remains so many great reasons for optimism�

The first point is how far we’ve come in recent times� Over the past decade alone, Vietnam’s 10-year average annual GDP growth has been 5�4%; and the World Bank predicts that real GDP growth in 2020 and 2021 will remain and sit at a very healthy 6.5%. With inflation low, social security high and the middle class growing rapidly, Vietnam’s 94.6 million-strong nation looks set for another exciting decade ahead�

Over the past year, more investors are seeing the nation as a sound bet: as indicated by foreign direct investment inflows, which reached almost US$18 billion in 2018, almost 24% of total investment in the economy�

In Michael Page Vietnam’s growing market segments in particular, we continue to see a race for market-ready talent, particularly those with a strong track-record, who are looking to move their careers forward across some of our hotter disciplines including Digital, Property, Fintech, Manufacturing and FMCG� Likewise, the continued movement of the technology, software, gaming and mobile segments, makes for a buoyant conversation around the start-up market, and makes Technology in general an exciting space�

These fast-moving sectors combined with the geographic and demographic advantages Vietnam enjoys, make it an interesting time for offshore Vietnamese too� My team and I are eager to continue to provide a bridge to those looking at opportunities to experience this exciting market first-hand.

With the middle class growing rapidly, Vietnam’s 94�6 million-strong nation looks set for another exciting decade ahead�Paul Cooper Managing DirectorMichael Page Vietnam

Michael Page Vietnam Employment Outlook 2020 | 3

What is the Vietnam workforce thinking?

of respondents feel they have no freedom at all to have a break during work hours

1 in 3 claims they have no flexibility to work outside their office

35% PROFESSIONAL DEVELOPMENT

47%of respondents feel their potential was not maximised

28%of the Vietnam workforce say their company neglected their professional coaching and development

of Vietnamese professionals feel their COMPANY IS BEHIND IN DIGITAL TRANSFORMATION

81%

OBJECTIVES FOR A LEADERSHIP TEAM

PROFIT AND REVENUE

Having a CLEAR DIRECTION AND VISION 51%

91%

MOST IMPORTANT

LEAST IMPORTANT


MOST IMPORTANT SOFT SKILLS

of repondents say their management team do not take the effort to get to know them on a personal level

23%

FAIRLY APPRAISED

of respondents feel they were

and were given opportunities to voice their opinions at work

86%

claim they WOULD GIVE THE MANAGEMENT HEADS UP before their official resignation as well as their HONEST REASONS for leaving

88%TOP CONSIDERATIONS WHEN ACCEPTING A NEW JOB5

New challenges and industry exposure

Maximisation of skills and abilities

Work culture and team dynamics

Employee benefits

Mentorship and leadership capabilities

1

2

3

4

5

Employee engagement was strengthened

Training and development plans were scheduled

A monetary raise was offered

A promotion in job title was offered

A flexible work schedule was accommodated

do not consider unsatisfactory monetary benefits as a top decision to leave their job

SAYING GOODBYEHere are the top factors:

A better opportunity somewhere else

Skills and abilities not put to good use

Misaligned leadership style

1

2

3

87%

1

2

3

Changemanagement

Conflict management

Mentorship

Communication

Stress management 4

5

Respondents say they would have stayed in their last company if

RETENTION


E-commerceTop 3 hiring trends

Trending skills

Most active hiring functions

Roles in demand

• Digital Marketing Manager

• Head of Business Intelligence

• Data Engineer

• DevOps Manager

• Data Engineering Manager

1. Finance, telcos, fintech and e-commerce companies are all looking for full spectrum data experts.

2. Both local and international players are investing in branding and engagement to attract professionals.

3. Vietnamese professionals vastly prefer international e-commerce players over local ones.

Data analytics

Digital transformation and software engineering

Change management

TechnologyMarketing Customer ServiceSales

average salary increase when switching jobs

within similar industries

20-25%


Financial Services & FintechTop 3 hiring trends

Trending skills


Roles in demand

• Chief Marketing Officer

• Head of Risk & Compliance

• Head of Operations

• Investment Research Manager

• Chief Technical Officer

1. E-wallet, online consumer finance, P2P lending and insurtech are all significant growth areas.

2. Underdeveloped legal framework might discourage big players from entering the fintech space.

3. Talent with analytics and big data background are in demand. However, soft skills remain an advantage.

Investment analysis

Big Data and analytics

Risk and compliance

Digital Finance & AccountingTechnology



15-25%

Marketing


Top 3 hiring trends

Trending skills

Top industries

Procurement & Supply Chain

SalesMarketing Technology

Roles in demand

• Sales Manager

• Brand Manager


• Trade Marketing Manager

• Supply Chain Manager

1. Strong consumer spending is driving growth in F&B, specially in the alcohol and soft drinks markets.

2. Traditional industries are stepping up their online businesses and attracting talent with L&D experience.

3. Healthtech businesses are increasingly looking to other industries for potential hires.

Digital marketing

Understanding supply chain

efficiencies and processes

Account management

and sales



15-20%

Fast Moving Consumer Goods (FMCG) & Retail


Manufacturing & IndustrialTop 3 hiring trends

Trending skills


Roles in demand

• Operations Manager

• Engineer

• Product Manager

• Human Resources Manager

• Sales Manager

1. New trade deals are drawing in foreign investments, which in turn boosts hiring activities.

2. The need to create a wider variety of products is driving demand for overseas talent.

3. Vietnam is investing heavily in its infrastructure, particularly in the connectivity and power sectors.

Manufacturing management

Account management

and sales

Quality and process

improvement

Human ResourcesProcurement & Supply Chain

SalesTechnology



15-20%


ServicesTop 3 hiring trends

Trending skills


Roles in demand

• Chief Marketing Officer

• Finance Director

• Human Resource Director

• Chief Technical Officer

• Operations Manager

1. The services sector contributes more than 40% of the country’s economic growth, led by retail and wholesale.

2. With growing tourism activities in Vietnam, the hospitality industry is experiencing a major talent crunch.

3. Hiring demand for retail, fintech and financial services sectors are high.

Big data and analytics

Change management

Risk and compliance

TechnologyFinance & Accounting MarketingHuman Resources



15-20%


Transport & DistributionTop 3 hiring trends

Trending skills


Roles in demand

• Finance Manager

• Accounting Manager


• Sales Manager

• Human Resources Business Partner

1. E-commerce companies must invest more in talent with last-mile delivery and value-added service experience.

2. Expanding container trade is driving demand for logistics and building infrastructure professionals.

3. Foreign companies continue to dominate the logistics market, taking up 70 to 80% of the total revenue.

Last mile delivery for e-commerce

Import and export

management

Small package handling

TechnologyProcurement & Supply Chain

SalesDigital



15-20%


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Vietnam Emploment utlook - Michael Page Vietnam

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