BUSINESS

Vietnam’s demands for senior, mid-level managers skyrocket in 2016: report

Tuoi Tre News

Updated : 01/10/2017 16:30 GMT + 7

There was a sharp increase in the recruitment demands for senior and mid-level managers in Vietnam in 2016 while new industries have been forecast to emerge in 2017, according to a recent report.

The demands for such managerial positions rose by 54 percent in 2016 compared to that in the previous year, Navigos Search cited the findings of its study in a press release on Monday.

Despite a slight decrease (5 percent) in the recruitment demands for senior and mid-level managers in Quarter 4 in comparison with the third quarter, the overall rise still reflects a strong growth rate recorded over the last two years.

Manufacturing, consumer goods, and finance-banking topped the list in terms of recruitment demands for the group of personnel in the fourth quarter, accounting for 37 percent, 18 percent, and 11 percent, respectively.

They are also the three sectors which consistently contributed the highest recruitment demands in the entire year.

Regarding the manufacturing industry, the electricity-electronics segment saw the highest recruitment demands, while beverages were ranked first among the consumer goods segment.

For the finance-banking industry, personal consumer finance and corporate banking services saw the highest demands for senior and mid-level managers.

Several changes were also recorded last year, one of which was the suspended expansion of some large projects in the manufacturing industry, which affected the recruitment plans of several businesses.

According to Nguyen Phuong Mai, managing director of Navigos Search, the suspension may have stemmed from the impacts of the post-election of the U.S., with reports that the country will withdraw from the TPP (Trans-Pacific Partnership) agreement.

‘Brain drain’ became increasingly serious in the 2nd half of 2016, as more and more local talents in IT, accounting, and auditing went abroad to work.

In 2017, new industries including advertising and communication are forecast to develop fast after a series of merger and acquisition deals were finalized in 2016.

Non-life insurance is also predicted to grow as many companies are introducing many new products to the market, including some products never offered before in Vietnam.

Recruitment in this segment will face new challenges as not many Vietnamese candidates have sufficient experience required by employers.

Navigos Search is the leading provider of executive search services in Vietnam with experienced and qualified consultants as well as a comprehensive database.

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