Tech remains dynamic and competitive in a candidate-driven market
Despite the pandemic, Vietnam’s tech market was still dynamic and very competitive in 2021. It remains a candidate-driven market.
The trend of consumer-facing digital products continues to grow, most visibly with e-commerce, education technology, loyal platforms, and fintech services. Super-apps are very big in Southeast Asia and its popularity will continue in Vietnam for the next few years. In 2021, blockchain was back on the rise in Vietnam, with the NFT market really heating up.
Adding on to that, non-tech companies in financial services, real estate and retail also entered the space as they rolled out their digital transformation programmes.
Alejandro Perez Higuero, Manager of Tech & Transformation at Robert Walters Vietnam, provides an update on the hiring market in 2021, and forecasts what lies ahead for candidates and hiring managers alike in 2022.
Popularised concept of remote working
As Alejandro reveals, “Many tech companies want to go regional and global. They will seek candidates with a balance of technical and soft skills to help them achieve this. The pandemic has popularised the concept of distributed or remote working teams. For example, many tech companies in Ho Chi Minh are now open to onboarding candidates in Hanoi or even outside of Vietnam, where this was not the case before Covid-19. This trend means that candidates who can communicate and collaborate well in distributed teams will stand out.”
Rising demand for cloud and cybersecurity talents
“Heading into 2022, software engineers are still in high demand, especially for those with Java, NodeJS, Golang, or full stack credentials. On the front-end, React and VueJS is rising in demand as well, and it is the same for cloud and cybersecurity experience within the infrastructure space. We are also seeing the demand for digital product and UX roles, with a requirement for candidates who have worked with mobile apps and large-scale consumer products,” as Alejandro explains.
Lastly, as online digital product companies mature in Vietnam, a growing demand for big data skillsets is expected in 2022.
Grow brand awareness and hire based on potential
Next, Alejandro says, “My advice to hiring managers and companies in tech is to consider the talent pools outside of Ho Chi Minh city. Exercise more flexibility and build up distributed or remote tech teams. To secure a candidate fast, shorten the interview process through ways like taking live coding tests instead of take-home exercises.”
He highlights further, “Grow your brand awareness and hire based on potential. The competition for tech talent in Vietnam is high, so employers can no longer afford hiring only when roles open up. Be proactive in building your employer brand and increasing the awareness among jobseekers so you can quickly build a pipeline of available talent.”
To attract the best talent is to hire based on potential. Look for candidates who fulfill 70% of requirements, with room for growth in the remaining 30%.
Remuneration will remain the same in 2022
Tech and Transformation salaries in 2022 are not expected to change much compared to 2021, as companies in Vietnam continue to address a prolonged COVID-19 situation.
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