REPORT ON RECRUITMENT DEMANDS FOR SENIOR MANAGERS IN VIETNAM MARKET IN QUARTER 4/2016 AND FORECAST ON RECRUITMENT TRENDS IN 2017May 22, 2017
Hanoi, 9 Jan 2017 — Navigos Search today has released a report on recruitment demands for senior and mid-level managers in Vietnam market through recruitment requests submitted by clients to us in Quarter 4/2016. The report includes some recruitment highlights in 2016 and forecast on recruitment trends in 2017.
Recruitment demands for senior and mid-level managers increased by 54% in 2016
Despite a slight decrease (5%) in recruitment demands for senior and mid-level managers in Quarter 4 in comparison with Quarter 3, 2016, recruitment demands for this group of personnel through Navigos Search increased by 54% in 2016 compared to 2015. This is a very strong growth rate recorded over the last two years.
Manufacturing, Consumer Goods, and Finance – Banking firmly hold the top 3 positions in terms of recruitment demands.
In Quarter 4, 2016 these three industries still led in terms of recruitment demands for senior and mid-level managers, accounting for 37%, 18%, and 11%, respectively. They are also the three industries which continuously contributed the highest recruitment demands in the entire year.
For the manufacturing industry, electricity-electronics segment witnessed the highest recruitment demands. For the consumer goods industry, beverages accounted for most of the recruitment demands. Meanwhile, for the finance – banking industry, personal consumer finance and corporate banking services saw the highest recruitment demands for senior and mid-level managers. Apart from the three industries mentioned above, real estate is also the industry with high recruitment demands in Quarter 4.
2016 witnessed some big changes in recruitment
According to Navigos Search’s observation, in the manufacturing industry there are a number of factory expansion projects, which had recruitment plans in the beginning of the year; however, the recruitment plans were suspended from Quarter 3 till the end of 2016 and they will only be restarted in Quarter 2, 2017. According to Ms. Nguyen Phuong Mai, Managing Director of Navigos Search, “the suspended expansion of some large projects may be due to impacts of the post-election of the US with the information that the country will withdraw from the TPP”.
In the 2nd half of 2016, Navigos Search also observed that the “brain drain” was increasingly serious; particularly, more and more local talents in IT and Accounting/Auditing went abroad to work. The signed ASEAN Economic Community has created various job opportunities in these two industries in the ASEAN region. Highly qualified IT engineers with good English and managerial skills have gone to other countries, especially Singapore, to work. Similarly, experienced personnel in the accounting and auditing industries have mainly worked in Singapore and Malaysia. “This is actually a positive signal for qualified personnel when they can challenge themselves in regional countries, especially those with the most developed economies. However, this also results in some difficulties when we recruit talents for our corporate clients. There were some points of time when we could not find suitable candidates for clients because the talents who the clients needed had gone to work in Singapore” added Ms. Mai.
There were many senior managerial positions with “extremely high” salaries in Quarter 4.
In this Quarter, Navigos Search recorded a senior managerial position (from Deputy CEO to CEO) with a monthly salary of VND300 million. Besides, there were many senior managerial positions from Department Manager to Director paid with a monthly salary ranging from VND100 million to VND170 million.
Recruitment trends in 2017.
Beside key industries such as Manufacturing, Banking, Retail, and IT with continuous recruitment demands, in 2017 there may be some new industries including Advertising/Communications which are likely to develop fast after a series of M&A deals done in 2016.
In addition, non-life insurance is also forecast to grow as companies in this segment are introducing many new products in the market, including some products which have not been present in Vietnam before and also no Vietnamese candidate has sufficient experience required by clients. “Therefore, recruitment in this segment will face new challenges, even for Navigos Search” shared Ms. Mai.
About Navigos Search.
Navigos Search, which is the local market leader in providing senior and mid-level manager recruitment service and VietnamWorks – Vietnam’s largest and oldest online recruitment portal, all belong to Navigos Group Vietnam.
Since 2013, Navigos Group Vietnam has been a member of en japan which specializes in providing recruitment services with head quarter in Tokyo (Japan).
For more information, please kindly contact:
Ms. Duong Thuy Quynh
Director of Corporate Communications – Navigos Group Vietnam
Add: 7th floor, V-Building, 125-127 Ba Trieu street, Hanoi
Direct phone: 04 – 6278 5198