Vietnam Job Market Trends to Watch Out For in 2024
With 2024 just around the corner, staying ahead in recruiting and retaining talent requires an understanding of upcoming trends that will shape Vietnam’s dynamic job market. How will these trends impact your organisation in the new year? By being proactive to these insights, you can future-proof your recruitment strategies and secure the best talent for your company for the long haul.
1. Addressing the increasing demand for skilled talent
Vietnam’s robust economy, increase in foreign investments, and rapid technological transformation have triggered a spike in the demand for skilled talent, especially with strong digital competencies. However, talent shortage and skills gap issues will remain a pressing concern.
To address this, employers are encouraged to coordinate with an expert talent sourcing company in Vietnam on how to incorporate skill assessments and certifications into the hiring processes. Providing learning and development opportunities for your current staff to upskill can give your workforce a competitive edge in a digitally driven job market.
2. Offering flexible work arrangements
Remote work is here to stay, as evidenced by how companies have adapted to this set-up at the height of the pandemic. Given its benefits, job seekers will continue to prioritise remote or hybrid positions. As an employer, being open to remote work options can widen your talent pool. Many highly skilled professionals are willing to work for organisations that offer flexibility in their work arrangements.
Update your job postings to mention remote or hybrid models. Consider investing in IT infrastructure (hardware, software, and data security programs) for seamless remote collaboration to ensure that your team remains productive no matter where they are.
3. Being mindful of cultural fit and soft skills
Employers are placing more significance on finding candidates who also have exceptional soft skills and are a good cultural fit in the company. In 2024, this will continue to be a priority. Communication, problem-solving, project management, teamwork, empathy, decision-making, conflict resolution, emotional intelligence, and adaptability are some examples of soft skills that can make a positive difference in your organisation.
Include behavioural assessments and situational interview questions into your hiring process to evaluate a candidate’s soft skills and cultural fit. Nurture your employees’ soft skills with training sessions. Enquire about the candidate’s values and see if they’re aligned to your organisation’s mission.
4. Welcome diversity, equity, and inclusion (DEI)
Embracing diversity and fostering equity and inclusion in the workplace is a necessity as it helps attract and retain great talent. Your company will gain a wide range of perspectives and experiences from a diverse workforce that can produce innovative ideas to drive your organisation’s progress.
Candidates will ask about how your organisation supports DEI in the workplace so make sure your company’s DEI policies are being implemented and not just on paper. Collaborate with communities, universities, and industry associations to tap into a wider talent pool. Apply inclusive hiring practices that minimise unconscious bias and promote equity throughout the entire employment lifecycle.
5. Finding talent in the flourishing gig economy
Many Vietnamese professionals are looking into freelancing because of the variety of projects and the flexibility that it offers. As an employer, tapping into the gig economy gives you access to highly skilled talent to take on short-term projects or when you require additional support.
Collaborate with trusted recruitment agencies in Vietnam that can connect you to reputable freelancers. From software developers to copywriters to accounting specialists, there’s a wide range of talent in the freelancing community that can fill specific roles in your company.
6. Adapting to AI-driven processes
Artificial Intelligence (AI) has made tremendous strides in automating business processes and in providing more accurate results. A more progressive recruitment agency in Ho Chi Minh City, for example, would now use Applicant Tracking Systems (ATS) to improve the hiring operation. It’s no surprise that AI’s progress will continue in leaps and bounds through the coming years. As the Vietnamese business landscape adapts AI into the fabric of their workplace, employers and workers must learn to adapt to tools that will help streamline operations more efficiently.
Though there is an ongoing concern that AI could replace human talent, what employers should focus on is finding workers who are proficient in using AI platforms. Human interaction remains a cornerstone in building solid relationships in the workplace. Knowing how to use AI tools will ensure a more streamlined collaboration that can accelerate your company’s growth.
Future-proof talent recruitment with ASW Consulting
Stay ahead of the curve in Vietnam’s job market. Partner with ASW Consulting, an experienced talent sourcing agency in Vietnam that can expertly assist you in navigating these trends. Learn more about our Vietnam Behavioural Profile (VBP), our psychometric behavioural assessment tool. Exclusively developed for ASW Consulting, the VBP is normed to the Vietnamese market and is proven effective in evaluating the candidate’s key attributes to give you a better indication of how they’ll fit into your organisation.
If you require c-suite recruitment in Ho Chi Minh City, contact us or call +84 28 7309 7991. Connect with us today and let’s work together on how we can help you find the most suitable talent to drive your company’s growth and success.