Foreign investments in business industries are fast-moving by the impact of industry 4.0. Understand of the circumstance, the Vietnam government has introduced significant reforms across all the main sectors of the economy, to increase the productivity, skills, and quality of labor to remain competitive. So how business in the Industry 4.0 can attract more talented candidates and retain them for your business. Let's find them out in the article below.
1. Vietnam current labor workforce and talented demands situation
Vietnam has been recognized as a country rich in labor resources by the young population. However, many big international organizations in Vietnam still find themselves in difficult situations to recruit a number of skillful staff. In 2018, according to online research from recruitment in Vietnam was noted that there is a significant mismatch between the skill level of staff and employer demand. The shortage of quality employees is one of the biggest disadvantages of Vietnam’s human resources market.
In the circumstance of a shortage in skills and experience of the labor sources, the remaining talented candidates who are seeking to work for the foreign organization is another reason that makes the business in this country are at risk of losing their employees or more difficult to hire. These required Vietnamese businesses have to change their human resource policy or increase the benefits to attract talented people.
Another survey, by Navigos Group, a leading recruitment company, said 42% of the businesses in manufacturing sectors face the shortage of workforce and there is one of the biggest challenges to them.
2. What employers offer still meets the employee’s needs or not?
Vietnamese's young and growing labor force has new demands and high expectations for their futures. Due to the shortage of talented employees in the Vietnamese labor market, many companies in Vietnam rely primarily on outsourced executive search firms or recruiters for executive and senior recruitment. In case your business wants to get highly talented individuals to work for you, don’t miss these notes.
Flexible Working Hours - Employees always seeking the most flexible working hours. Besides the salary and benefits, offering employees flexible working hours will provide them the freedom at work and also help maintain a good balance between personal and professional life.
Opened working environment - A more relaxed working environment can attract top talent. The opening and relaxed workplace can draw out greater performance from employees.
Advanced benefits - Providing benefits such as schooling allowances, medical insurance, mobile phones, and company cars may attract new talent as well as current employees to your operations.
Once an employee hears that other employers are providing more and better perks to their employees, then the risk of employees deciding to leave as well as having a negative impact on their work performance also increases.
3. Ways to find talented senior and executive in 2020
It can be hard for attracting quality candidates. An effective organization needs to recruit not simply on work-relevant skills but for learning agility and leadership potential. When finding good candidates is hard the first thing an organization needs to address is the issue of developing talent so as to make internal appointments where possible. Let’s find out the executive search trend 2020 as the following below.
Exploit the recruitment opportunities of social media sourcing via a social platform such as LinkedIn and other platforms. Good applicants often use social media to find and research jobs. Some executive search trends 2020 habits show that:
More than one-third use the social platform to research jobs and changes to upgrade;
25% of applicants told they applied for a job at their first glance at social media;
13% of employees say their social profiles helped them get a job.
By using social media as an employer brand, businesses can build a candidate pool. This is also an excellent way to reach out to a diverse range of candidates. Pay attention to your employment brand as social media provides the tools to promote organizational culture and showcase current employees.
Outsourcing executive search firms/services
Most of the senior roles and C levels are filled by retained executive search services than by any other formal hiring process. These firms aim to proactively source the right candidate on behalf of the client company. They don’t simply forward resumes from applicants. The headhunter will target candidates and approach them directly.
For example, almost groups and organizations in Vietnam choose Navigos Search Group to help with Senior and C level recruitment. We also help businesses with recruitment outsourcing process services. Our HR services are also focused on building long-lasting employment relationships that help both companies and their employees thrive.
The technology, tools, and skills are changing day by day required employees to have full knowledge and skills to complete the job. Understanding and catching the executive search trends 2020 help business to get talented employees and built a strong talent pool. With Navigos Search services, we can help your organization find sufficient and efficient resources, overcoming the mismatch challenge in the labor market.
Download & Information
- Vietnamese Generation Y: Career Ambition and Startup Desire
- Critical issues in banking workforce - Perspective from candidates and employers
- Employee Benefits and Tet Bonuses in 2019 in Vietnam
- Expatriates: Expectations and Challenges when working in Vietnam
- Career Prospects & Skill Trends in Vietnam 2018 - 2022
- Report On Agency Personnel: Opportunities And Challenges In Employment In The Digital Era
- Personal Branding Impacts On Business Development: High-Level Employees’ Perspectives
- Recruitment and corporate culture in Japanese enterprises
- Online Recruitment Market in Vietnam 1H2019
- Information Technology Vietnam Labor Supply Market Report 2019
- The labor market in Manufacturing - Opportunities & Challenges in the 4.0 Era
- Job seekers salary in Vietnam 2019