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Key sectors in Vietnam face labor shortage: report

Key sectors in Vietnam face labor shortage: report

Monday, August 22, 2022, 15:18 GMT+7
Key sectors in Vietnam face labor shortage: report
Many companies look for candidates to expand production and improve business performance in late 2022 and early 2023. Photo: Ha Quan / Tuoi Tre

Service, tourism, construction, architecture, wholesale, retail sale, accounting, finance, and information technology are sectors where Ho Chi Minh City and Hanoi, the two biggest cities of Vietnam, are facing labor shortages.

The situation was mentioned in the 'Labor Market in 2022: Reality and Vision' report released on August 17.

The Navigos Group conducted the report with the participation of around 400 companies and more than 3,000 workers in Vietnam. 

Companies find it hard to recruit new employees 

According to the report, nearly 87 percent of the firms said they had a tough time recruiting in the first half of 2022 because the number of workers resigning was higher than the previous year.

In some companies, up to 40 percent of their workers quit jobs, making it harder for production and business performance. 

In the two biggest cities Ho Chi Minh City and Hanoi, labor shortage was 23 percent and 15 percent, respectively.

Service, tourism, construction, architecture, wholesale, retail sale, accounting, finance, and information technology are sectors struggling with the situation.

Meanwhile, 60 percent of jobseekers look for a steady job, 20 percent have yet to get a new job, and 15 percent have a part-time gig. 

There are many reasons behind the resignations. Some want to take a break before finding a new job, some want to start up or work part-time, while others are not in a rush to find a new position. 

According to Navigos Group, resigning workers seek a job that suits their personal requirements or look to restore balance in life before starting afresh.

In addition, a safe, steady job is not as important. 

The survey shows that 80 percent of jobseekers are interns, experienced workers, and managers in finance, accounting, auditing, tourism, export-import, real estate, and hospitality sectors. 

Job seekers at an employment service center in Hanoi. They expect a high salary and good benefits. Photo: Ha Quan / Tuoi Tre

Jobseekers at an employment service center in Hanoi. They expect a high salary and good benefits. Photo: Ha Quan / Tuoi Tre

They care about salary, benefits, a work environment with friendly bosses and colleagues, a clear career path, and company reputation. 

Speeding up the hunt for talents 

Nearly 90 percent of the companies taking part in the survey said they would boost their recruitment in the second half of the year. 

Companies with 300-1,000 employees will raise their recruitment rate to 30-50 percent, those with 101-300 employees will increase the ratio to 10-40 percent, and those with less than 100 employees will make it up to 50-60 percent. 

Firms give priority to positions in sales (72 percent), engineering (12 percent), and technology (9 percent). The other important sectors are marketing, accounting, and finance.

However, most of them prefer workers with two years’ experience or more and only around 28 percent of them hire those with less than two years’ experience.  

According to experts from Navigos Group, the need for new jobs for experienced workers and fresh graduates creates a higher degree of competitiveness among candidates.

Sectors attracting many candidates are environmental safety, insurance, real estate, chemistry, biochemistry, human resources, administration, law, healthcare, and pharmaceuticals. 

Navigos Search recommends that jobseekers should consider the right time to change jobs as well as the advantages and disadvantages.

Moreover, they should hone their digital transformation and foreign language skills, broaden their relationships, and take risks.

At the same time, companies should increase salaries, support their employees in upgrading their working skills, and offer more healthcare, insurance benefits, flexible working time, and places to keep talented employees from leaving.

At an online seminar taking place on August 12, Minister of Labor, War Invalids, and Social Affairs Dao Ngoc Dung said due to the economic recovery, tourism and service sectors posted an increase of 900,000 workers per quarter compared to the three recent quarters. 

Around 19.2 million employees among 51.4 million are working in the sectors. 

Since the first quarter of 2022, employee incomes have been higher especially after the government adjusted policies.

However, finance and information technology fields are expecting a dearth of labor. 

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Vuong Anh - Ha Quan/ Tuoi Tre News

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