Moreover, the competition within the job market is getting fiercer. The employees’ turnover rates are also on the rise as staff often look around for other potential position in different companies. Nowadays, it is a common thing to see employees who have experiences working at multiple organizations over just a short period of time.
The high rate of job jumping among organizations
Many business leaders have accepted that high turnover rate and considered it as another cost for doing business locally. However, there is a high demand among employers to increase the willing time that an employee wants to work for a firm. One of the most common way to keep anyone stay in a company longer is to offer him a more attractive salary package. However, money is not the only reason and certainly not a long-term solution. It is crucial that business should find some other ways to build employee loyalty.
The flow of the workforce to other nations
Regarding the quality of Vietnamese labor, the improvement has proved in the increased rate of trained staff from 30% to 50% in just 10 years. The modern workforce has been familiar with new advanced technology and even some of them can take responsibility for high skilled tasks which was once only taken by experts from other countries. Globalization trend has led to a wave of guest workers to other countries, especially those belonging to the ASEAN group. Malaysia ranks no 1 as the top destination for Vietnamese staff, with thousands of employees annually working in various fields. Moreover, many big companies in Vietnam has expanded their market in neighborhood countries such as Laos and Cambodia.
Currently, Vietnam has established itself as a top employee provider according to the ASEAN Sills Competition, indicating the rapid development of human resources towards the globalization trend.
The lack of English and technical skills
Despite remarkable improvement in expertise and quality skills, common problems arisen when recruiting applicants from Vietnam is the likely shortage of language and technical skills. Although English has been taught as a mandatory subject since elementary school, most Vietnamese staff is only capable of performing basic English. In the modern market with many international organizations, Vietnamese human resources lack the required fluency and proficiency for business English. Therefore, many big organizations such as Samsung and Intel have training program to support employees with English tuition fees as an important part of their training program.
The difficulty in relocation
Another drawback of Vietnamese workforce is that company leaders are often find it hard to transfer staff (especially who are women) to a different area because of the unsystematically local development and common thought of stabilization and settling down. This fact has resulted in the potential hindrance to the business extension plan.
With all those listed reasons, it is crucial for organizations to find the right partner to help them with the hiring process. Faro Recruitment Vietnam is an expertise for Human Resource Advisory and Consulting in Ho Chi Minh City – the most rapid city for career development in Vietnam. With our professional services, we perform the right match for candidates and clients with high efficiency, removing all the difficulties you may have with in-house recruitment.