HCMC – International and local employers in various sectors across Vietnam are expecting a boost in hiring in the first two quarters of 2022 as the economy is gradually recovering, according to the newly launched Vietnam Employment Outlook Survey of ManpowerGroup Vietnam.
The survey found that up to 93% of the surveyed companies have recovered from the pandemic, with 50% or more activity having recovered, while only 7% said that their business operations remained affected or suspended.
After experiencing four pandemic outbreaks, Vietnamese businesses have adapted and responded flexibly to achieve the dual goals of effective disease prevention and economic development.
Most recently, the World Bank said in the Economic Update for Vietnam that “Vietnam’s economic recovery is likely to accelerate in 2022 as GDP growth is expected to rise to 5.5% from 2.6% in 2021.”
A positive economic outlook gives employers in Vietnam more confidence to recruit in the first half of 2022 compared to last year.
In total, 95% of the surveyed enterprises plan to increase or at least maintain the current headcounts as compared to 80% of the equivalent index in the second half of last year. Only 5% of the respondents announced their plan to trim hiring activities.
“Amid the acute talent shortage after economic reopening, we are noticing a great demand in permanent recruitment and executive search in various sectors, especially in trading, ICT, technology, real estate and manufacturing,” said Nguyen Thu Trang, country sales manager, ManpowerGroup Vietnam.
“Noticeably, as corporate social and environmental responsibility are becoming increasingly important, apart from economic development goals, the job market is seeing a boost in demand for positions in renewable energy.”
In tandem with business growth, employment activity is on the way to pre-Covid-19 recovery. Almost two-thirds (59%) of employers said their hiring activities had fully recovered, followed by about 32% expecting their recruitment plans to increase in the next three to six months.
The strongest recruitment intentions were reported in wholesale, retail and trading, information and communications technology (ICT), professional consulting services, manufacturing and processing, real estate, healthcare and life sciences, and high technology.
“The Government’s economic reopening policies and Covid-19 vaccination program are creating growth momentum for the business community in Vietnam. Industries such as manufacturing, warehousing and logistics are witnessing a strong revival and are expected to attract almost the entire workforce back to the cities after the Lunar New Year holiday,” said Nguyen Xuan Son, operation Manager, staffing and outsourcing services, ManpowerGroup Vietnam.
“Currently, ManpowerGroup Vietnam has received numerous orders for staffing and outsourcing services from domestic and foreign enterprises, especially in the e-commerce, food processing, electrical and electronic manufacturing, transportation and logistics sectors,” he added.
In an attempt to keep employees safe while maintaining effective business operations, employers are turning to a hybrid work model as a rising trend in the new normal.
In the next three to six months, more than half (51%) of the surveyed enterprises plan to apply hybrid work for their staff, and about over one third (38%) of them want to retain the absolute work-place based model.
Particularly, hybrid work is also preferred in industries that have traditionally required a high level of workplace presence, such as wholesale, retail and trading (53%), professional consulting services (69%), and ICT (47%).
Facing an acute talent shortage as the economy reopens after lockdowns, when asked which human resource services they plan to use, surveyed employers chose executive search and permanent recruitment as the best solutions, with an opting rate of 36%.
Meanwhile, a considerable rate of employers (34%) opted for staffing and outsourcing and expatriate services (work permit and visa application).
The Vietnam Employment Outlook Survey for Q1 and Q2, 2022 was conducted by ManpowerGroup Vietnam and saw the participation of 153 employers from 21 industries nationwide from November 30 to December 31, 2021.
The respondents were human resources managers, talent acquisition managers, business owners and HR specialists in diverse industries, such as wholesale, retail and trading, textile and footwear, information and communications technology, professional consulting services, and construction.