APACTalent Acquisition

How Vietnam is Handling its Talent Shortage

Two years into the pandemic, Vietnam’s hiring efforts are still being heavily influenced by it.

By Zee Johnson

Ho Chi Minh City (HCMC), the largest city in Vietnam, is facing a talent crisis. As it stands, the city’s businesses and factories are desperately seeking an additional 300,000-plus employees if COVID-19 remains under control.  The intense labor shortage has been primarily caused by social distancing measures put in place to curb the COVID-19 spread, which forced many foreign workers to leave the city for their hometowns.

According to HCMC Center of Forecasting Manpower Needs and Labor Market Information, there are now two looming scenarios, the outcome reliant upon how COVID continues (or not) to develop.

Scenario One

Should the pandemic be sustained, the demand for workers will steadily increase throughout the year. It is expected that between 280,000 and 310,000 additional workers are needed, mainly in the human resource sector. In fact, the demand for talent in the first quarter in the HR industry would be close to 87,000, in the second quarter over 72,000, in the third quarter 74,000, and in the fourth quarter, 77,000.

Scenario Two

Should the pandemic remain a complexity, the demand for workers will be lower.  The total yearly demand for workers would linger between 250,000 and 280,000, with 78,000 of those workers being needed in the first three months of the year.

Of all HCMC’s industries, the trade and services sectors are expected to have the strongest demand for human resources this year, making up 66% of the city’s total recruitment demand (mainly for commerce, transport and warehousing, accommodation, catering, information and communications, and the real estate business).

As a means of acquiring more talent, 86% of businesses are not requiring candidates to have a college degree. However, with the nearly 500,000 students and graduates that the city produces each year, HCMC is expected to fully meet recruitment demands this year.

 

Tags: APAC, Talent Acquisition

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