Business partnering, transformation and talent management needs drive hiring demand
Hiring volumes for Human Resources (HR) professionals in Vietnam varied across industries in 2023. Silvia Quirino, Senior Manager at Robert Walters Vietnam, observed that sectors that depend on local consumers – such as fast-moving consumer goods (FMCG), pharmaceutical and healthcare – made more HR hires and invested in growing their teams.
The tech industry presented a different story, with lower hiring volumes and some downsizing. From production to export, the manufacturing sector still hired talent consistently, though mostly to replace employees who moved on to other jobs. Several new players emerged in the industry, resulting in an increased need for generalist HR professionals.
Read on to find out more about Silvia’s expectations for Vietnam’s labour market and hiring trends for Human Resources professionals in 2024.
Companies seek strategic support
Carrying on into 2024, remote work models and flexible work arrangements will continue to be a main feature in most workplaces.
Silvia anticipates that companies will need professionals who can support them with making business decisions and setting their approach for business orientation. There is also more transformation expected as companies refine workflows to meet best practices standards and improve performance, or to manage changes from mergers and acquisitions. Talent management is another key focus point for the coming year, with companies seeking support for talent acquisition, retention, and learning and development (L&D).
HR business partners will be highly sought after, and the market will also seek out talent with expertise in L&D or total rewards.
Talent attraction and retention in a candidate-driven market
It is very much a candidate-driven market for roles that require niche, specific skillsets. Companies will try to retain those talents, and they will be more aggressive with providing improved benefits and career advancement opportunities
To attract and retain talent in the year ahead, it is suggested that companies address different motivating factors that are common to candidates today. These include job title promotions, structured pathways to grow their careers, and salary increments. “If employees can get salary increments comparable to what they would get from moving jobs, they are more likely to stay in the same company,” concludes Silvia.
Salaries go up for in-demand talent
Given the tight talent pool and the candidate-driven market at the moment, candidates with in-demand expertise such as HR business partners, Heads of HR, L&D, total rewards and transformation can look forward to salary increments when changing jobs.
Find out more
Request access to our 2024 Salary Survey to benchmark salaries and to find out more about key hiring trends in Vietnam.
