International and local employers in various sectors are expecting their hiring intentions to rise in the first half of 2022 as the economy is gradually recovering, according to the newly published Vietnam Employment Outlook Survey.
The Vietnam Employment Outlook Survey for the first half of 2022 was conducted by ManpowerGroup Vietnam on 153 employers in 21 industries nationwide from November 30 to December 31. The respondents were human resource managers, talent acquisition managers, and business owners in diverse industries.
According to the survey, up to 93 per cent of the surveyed companies have recovered from the pandemic, with 50 per cent or more of their usual activities recovered, while only 7 per cent said that their business operations remained affected or even remained suspended.
Vietnamese businesses have learned to adapt and respond more flexibly to achieve the dual goals of effective disease prevention and economic development. Most recently, the World Bank said in the Economic Update for Vietnam, “Vietnam’s economic recovery is likely to accelerate in 2022 as GDP growth is expected to rise to 5.5 per cent from 2.6 per cent in 2021”.
The positive economic outlook gives employers in Vietnam more confidence to recruit in the first half of 2022 as compared to last year.
In total, 95 per cent of the surveyed enterprises plan to increase or at least maintain the current headcounts as compared to 80 per cent of the equivalent index in the second half of last year. Only 5 per cent of the respondents announced their plan to trim hiring activities.
Nguyen Thu Trang, country sales manager at ManpowerGroup Vietnam said, Amid the acute talent shortage after economic reopening, we are noticing a great demand in permanent recruitment and executive search in various sectors, especially in ICT, real estate, and manufacturing. Noticeably, as corporate’s social and environmental responsibility are becoming increasingly important, the job market is seeing a boost in demand for positions in renewable energy.”
In tandem with the business growth, employment activities are on the way to recovering to pre-COVID-19 levels. Almost two thirds (59 per cent) of the employers said that their hiring activities had fully recovered, followed by about 32 per cent expecting their recruitment plans to increase within the next 3-6 months.
The strongest recruitment intentions were reported in wholesale, retail, ICT, manufacturing, real estate, and healthcare, among others.
“The government’s economic reopening policies and vaccination programme are creating a growth momentum for the business community. Industries are witnessing a strong revival and are expected to attract almost the entire workforce back to the cities after the Lunar New Year holiday. Currently, ManpowerGroup Vietnam has received numerous orders for staffing and outsourcing services from domestic and foreign enterprises, especially in e-commerce, food processing, and electronic manufacturing," said Nguyen Xuan Son, operation manager for staffing and outsourcing services at ManpowerGroup Vietnam.
In an attempt to keep employees safe while maintaining effective business operations, employers are turning to a hybrid work model as a rising trend in the new normal.
In the next 3-6 months, more than half (51 per cent) of the surveyed enterprises plan to apply a hybrid work model for their staff. Hybrid work is also preferred in industries that have traditionally required a high level of workplace presence such as wholesale, retail, and ICT.
When asked which human resource services they plan to use, surveyed employers chose executive search and permanent recruitment as the best solutions, with an opting rate of 36 per cent.
Meanwhile, a considerable rate of employers (34 per cent) opted for staffing, outsourcing, and expatriate services.