Market looks forward to recovery and better business outlook in second half of 2024 

The global economic downturn in 2023 affected nearly all industries and businesses in Vietnam, and the supply chain, procurement, and logistics sectors were no exception.

As businesses prioritised saving costs, the demand for talent experienced in optimising and streamlining supply chain and procurement functions surged. This resulted in increased job openings for roles like supply chain manager and procurement management.

“In line with the priority to cut costs, we also saw key market players engaging in restructuring or re-organisational efforts, with the aim of creating leaner and more efficient supply chains,” says Trang Nguyen, Senior Manager at Robert Walters Vietnam.

Read on to find out more about Trang’s expectations for Vietnam’s labour market and hiring trends for Supply Chain, Procurement & Logistics professionals in 2024.

Talent needed for supply chain resilience, digitalisation

“Most companies we’re in touch with have shared that they will proceed with a more cautious approach for their business in 2024, though they also expressed confidence in a more positive business outlook in the second half of the year,” Trang reveals.

With that in mind, Trang expects that several themes will influence hiring the most in the year ahead. These are: building and maintaining a lean, efficient and resilient supply chain, digitalisation and data-driven decision-making, and increasing integrated 3PL and 4PL services within the business.

The most in-demand skillsets in the year ahead will thus be found in candidates who can meet these business priorities. These include skillsets in digitalisation and data analytics, and supply chain professionals who are excellent communicators will also stand out as businesses need talent who can manage relationships across key stakeholders and cross-functional teams.

Check in on cultural fit and compensation

“Supply chain, procurement and logistics professionals value flexibility at work and stable, long-term career opportunities,” says Trang.

When moving jobs, cultural fit and compensation are the key factors they consider.

To attract and retain talent in 2024, companies should look at how they can foster a healthy work culture, and check in with potential employees on whether it is a cultural fit on both sides during the interview process. They will also benefit from focusing on employer branding, which helps create and promote a positive image of the company in the labour market.

Lastly, Trang recommends offering salaries that are “relatively competitive” to industry and market averages.

Salaries go up for top talent

In 2024, salaries should generally increase by between 3 – 7% for employees staying at the same company. However, top talent can expect attractive increments of between 15 – 30%, dependent on the job scope and business expectations of the role.

Find out more

Request access to our 2024 Salary Survey to benchmark salaries and to find out more about key hiring trends in Vietnam.