The Vietnam recruitment market is currently very exciting and complex in the labor supply and employment demand. While employees have the need to find more suitable jobs with the best salary, employers need to find qualified employees to meet the job needs. This also brings the opportunities and obligations for potential investors in recruiting and hiring in the Vietnam market. This article will give the total look about the labor source in Vietnam recruitment as well as the resources that are available for you as an employer.
The situation of Vietnam recruiting services
The younger graduated not adapt to businesses requirements
The recruitment of mid-level employees in Vietnam is in shortage if. The quality of the new graduate often does not meet the requirements of the business, which is supposed to be the main problem today. The main reasons make students adapt to business requirements as a shortage of skills and knowledge.
Scarcity of high-quality executive candidates
Besides that, the demand for the market is not enough which causes the increasing labor shortage. Also reflecting the scarcity of high-level personnel, Navigos Search recently points out that businesses are entering the battle for talent. Currently, 41% of Vietnamese enterprises find it difficult to find quality candidates for management positions.
The wages and salary of the Vietnamese workforce
According to Trading economics, the Minimum Wage in Vietnam reaching an all-time high of 4,180 VND Thousand/Month in 2019. In addition to the great number of labor, another advantage of the Vietnamese workforce is its lower cost. According to the VietnamWorks published salary report full-year 2017, HCM City Leads the Average Salary Rankings in the market resource 2019, following by these cities:
- Da Nang – US$452
- Hanoi – US$407
- Ho Chi Minh City – US$456 (VND 10.4 million)
- Binh Duong - US$444
- Bac Ninh - US$421
What does the recruitment and hiring process in Vietnam look like?
There are many ways potential businesses investing in Vietnam can get talented employees. One of them is outsourcing for third parties such as recruitment companies or executive search firms. Most of the recruitment and executive search firms own the high-quality hiring process and their wide connection in the industry including their professional in high skills, knowledge, and experience. Below is the general recruiting process in Vietnam.
- Job Order
Businesses need to prepare a Vietnam recruitment notice detailing the requirements of the company and the benefits that the candidate will get after joining the organization.
- Recruit and select candidates
After posting recruitment notices, the employers will receive many resumes. However, not all profiles are suitable for job requirements. Therefore, employers need to filter the records just like a prequalification interview, the employer will select the most appropriate records for the job position and then plan the interview. Doing this will help employers save a lot of their time in the hiring process.
- Recruitment interview
This round is to evaluate candidates in many aspects to ensure the employees have enough qualifications for the job positions. In addition, employers need to prepare questions to exploit more information about personal characteristics that can fit the business strategies in the long-term or not. In this round of interviews, if candidates are selected and probation, the employer also needs to mention the issue of salary and the company's regime so that candidates know and decide to work with the company or not.
- Probationary probationary
Although recruited, candidates must go through a challenging period. This is a probationary period when candidates will be exposed to the actual job is an opportunity to show their ability and qualifications can meet the job needs or not? From there the employer makes the final decision.
- Hiring decisions
After the probationary period and the employer makes the final decision to select the most suitable candidates for the job and eliminate candidates who are unable to meet the requirements of the job and then have the final decision. Recruitment, the last job in the recruitment process is to sign a contract, explain and answer candidates' questions about the company's regimes so that candidates really understand.
For potential investors who want to invest in Vietnam in opening a business, taking a hiring process by themselves can be a hard task. This reason leads most of the foreign companies in Vietnam to choose to outsource a recruitment firm or an executive search if they want to replace high-level positions. Navigos Search Viet Nam brings the bridge to connect employers and employees by our professional recruitment services. For consulting by our HR team, please contact us by filling the form in Contact Page or visit us at Navigos Search head office on the floor 20th, E.Town Central Tower, 11 Doan Van Bo, Town 12, District 4, Ho Chi Minh City, Vietnam.
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