1. Lack of personnel management – the natural global chronic disease
Senior staff are person who responsible for key positions in departments of a company. In multinational corporations or large-scale companies, organizational structure of each department is explicitly configured. Depending on the size of each company, the quantity of managers may increases or decreases. But considering the overall number of employees of companies, the quantity of managers only accounts for about 10-15%, and not less than half of those have managed and directly participated in strategy development of the company.
Vietnam has just began opening up to the world about 20 years, and in fact, large companies owned by Vietnamese and companies with foreign investment in Vietnam have been really operating in less than 10 years. Therefore, managers who have basically accessed to multinational companies also have the same seniority working style. Number of qualified people with knowledge and skills of professional management is not really much.
In recent years, number of industries invested in Vietnam has developed strongly, including private and foreign companies. Thus, it is clear that the problem of supply and demand will increasingly unbalance. In addition, education and training systems in Vietnam have not met requirements of social development. Backgrounds and skills of candidates for senior positions have not met requirements of employers, especially in foreign investment sector. That’s the reason why scarcity of personnel management in terms of both quantity and quality is easy to understand, especially for a country being on the path of integration as Vietnam.
However, unemployment or low skill level of employees is not related to the scarcity of talent. Evenly the countries with high unemployment rate are going into situation of serious lack of skilled staff. That's the chronic disease of global nature. And so, businesses need to do something to attract people who have knowledge and ability to undertake the work. In this situation, the victor in the war for talent is the one who is able to set for themselves the right steps to attract talent and retain them.
2. Trends in hunting the candidate in management positions
For years, the senior headhunters often focus on traditional field of services so called Executive Search. Enterprises can recruit staff at lower or middle levels by themselves, but with the scarcity of high-level human resources, as discussed above, the business has no longer path than knocking senior headhunters companies.
Previously, companies specialize in providing Executive Search service only perform the function of collecting a suitable database of candidates. They map out candidates available in database with urgent requirements of business in finding key staff resource. Beside, an internal HR professional of business can only take on the responsibility of assisting the Board of Management to select the appropriate headhunters and maintain the contact between the company and the candidate. Gradually, Executive Search trend of headhunting companies has shifted towards actively search to help talent recruitment become more effective.
Nowadays, the company which has large demand for human resources is often interested in finding skilled professionals in the field of Executive Search & Selection and assign them hunting task, even adopting entice policies to have candidates from rival companies.
3. Strategic Recruitment Advertising (Recruitment Advertising) is being applied everywhere
The idea of Recruitment Advertising had appeared in America since 1950. This idea was applied by such famous companies as Hodes and Shaker Advertising. It’s idea that helped businesses outlines the requirements for HR so that the best options in the mass media to advertise their recruitment are selected. Today, the company specializes in Recruitment Advertising helps customers to choose effective communication strategies for job posting ad, collaborate with businesses in raising the prestige and reputation of employers in order to attract qualified candidates.
In recent several years, Recruitment Advertising starts applied in Vietnam, especially in recruiting senior human resources (Human resource services). Not all employers have a clear view of the media market, therefore, sometimes they were throwing money out the window when posting job on ordinary newspaper / magazine. In order to attract customers, some headhunting companies have opened consulting services to help businesses choose the communication strategy, and this is one of ways used to keep the "mutual beneficial" relationship for customers in increasingly competitive conditions which occur fierce and bitter.
4. Recruitment Strategy for Enterprise
There is not any standard model for businesses to attract and retain senior staff in the context of the current market which lack of talent. This relates to many factors, including the size of the business and operation model, especially for those newly started business in Vietnam.
First, new enterprises must clearly define their expectations and strategic HR issues, especially senior management, who will run the business.
Second, businesses need to understand the local factors. Define a recruitment strategy for each position is the key: Build from internal, borrow from external forces for short-term plans, or outsource for an important position. With special positions difficult to recruit, such as research and development (R & D), the candidate potentials should have been trained abroad before the company implemented a localization strategy.
Today, most companies have policies to nurture the available talent and maximum boost resources, leverage the strengths of employees, ensure cultural appropriateness, and minimize risks in recruiting, training and developing the wrong person.
Since its establishment in January 2006, Faro Recruitment Vietnam JSC has developed its business in providing recruitment, payroll, labor management and other HR related services to many well-known international corporations and Vietnamese companies.
As part of Faro Recruitment's global network in 17 countries, we can tap into resources and know-how developed by the Group Company since 1981 to assist clients manage their human resources more efficiently and consult on legal issues related to HR.
Striving to be a leading HR solutions company in Vietnam, we are committed to partner with our clients to enable their success in Vietnam.