Doing business in Vietnam has its own challenges, including recruitment challenges. Recruiting in Vietnam today is so much different than it was just a few years ago. The rapid development of the country’s economy and the exponential advancement of information technology have created many opportunities, however some challenges, related to an underdeveloped educations system, in recruitment for my businesses.
Read About Cekindo’s Recruitment Services in Vietnam
The competition for talent is increasingly higher in Vietnam, making it difficult for many companies to win top-tier talent. As a result, employers are urged to boost the quality of their hiring plan; otherwise, it can wreak havoc on their business performance.
This article elaborates the most common recruitment challenges encountered by those doing business in Vietnam.
Doing Business in Vietnam: Recruitment Challenges
Today, companies are going through a furious competition in Vietnam to attract the best talent, a “war for talent” as some would call it. Failure to acquire and retain the top talent still remains one of the major challenges for businesses in Vietnam. For this reason, companies need to consider improving their recruiting process and company culture to fill the necessary positions.
Existing Low-skilled Workforce
Closely related to point mentioned above, incompetence workforce will remain one of the huge challenges that employers have to encounter in Vietnam for the next few years. This is largely due to the Industrial Revolution 4.0 across the globe, along with the burgeoning of Internet and digital applications. As a result, this trend has created many barriers in skills, expertise and knowledge of the labour market in Vietnam.
Since more jobs are being replaced or are going to be replaced by technology and artificial intelligence, 46 million unskilled Vietnamese workers are the ones who are the first to be disqualified from the high-income jobs.
Branding of Employer
In a recruiting market in Vietnam that is so competitive these days, a good employer branding will help businesses attract and retain great candidates. It is found that approximately 84% of job-seekers believe that the employer brand is very critical for them.
Candidates believe that a positive employer brand can ensure their employment experience such as work-life balance and future career path. About 50% global candidates admitted that they were not willing to work for an employer with negative reputation, even if the employer offered a higher salary.
Recruitment Market Has Become Candidate-Oriented
As you can see from the previous points, candidate experience isn’t just vital for employer branding, but it also means that the recruitment market has shifted to become more candidate-oriented. In this new era, potential candidates have more power in evaluating and deciding their job offers, adding another burden to the recruitment in every business.
Therefore, how a candidate experience during the hiring process reflects the way they will be treated when they are officially employed. If a candidate has a negative experience during the recruiting process, they’re more likely to reject the job offer. One more thing to look at is that salary is not the only thing candidates look at while searching for a job anymore; they also look at workplace culture, flexibility and freedom, career advancement, etc.
Doing Business in Vietnam with Recruitment Solutions from Cekindo
Recruitment in Vietnam requires human resources to constantly keep up with the changes in laws and regulations to ensure compliance. The regulations under recruitment include the minimum wage, overtime pay, benefits and compensation, taxation, payroll, social insurance, and work permit application. As such, all-in-one recruiting solutions are what is best for your business in Vietnam.
Cekindo has a team of HR experts and legal consultants to support your business growth in Vietnam. Our extensive HR outsourcing services include the following:
- HR policies establishment
- Payroll process and calculation
- Employee contract or agreement preparation
- Consultancy of labor law
- Advising the requirement for local representation, sponsorship letter, and work permit application
Get in touch with us today to know more about our services by filling in the form below.