Qualified personnel are seeking more lucrative opportunities overseas.
Businesses in Vietnam are looking for talented executives to fill vacancies caused by an outflow of workers to neighboring countries.
The demand for mid and senior-level managers soared by 54 percent in 2016, the highest growth over the last two years, according to a report by Navigos Search, a recruitment firm.
Demand was highest in the manufacturing, retail and finance sectors, which accounted for 66 percent of Vietnam’s total recruitment demand.
The need for IT staff, accountants and auditors also increased as more locals shifted to other countries to develop their careers in the second half of 2016.
Navigos Search said that the free labor market, following the foundation of the ASEAN Economic Community, has enabled skilled professionals in specific areas, including accounting, to work elsewhere so many Vietnamese employees had decided to move to Singapore and Malaysia.
IT staff, though excluded from the free labor market, also chose to work in Singapore, where an IT manager earns an average salary of $87,000 per year, significantly higher than Vietnam’s average of $25,000.
“This [working overseas] is a good opportunity for excellent executives to try their hand,” said Nguyen Phuong Mai, a senior executive at Navigos Search. “However, it’s more difficult for us to find good personnel for our clients. There have been times we have been unable to fill vacancies as the only suitable candidates were working in Singapore.”
Mai said that in 2017, in addition to the above-mentioned sectors, other areas will experience higher recruitment demands. The beverage segment is undergoing organizational restructuring and M&A deals so demand for senior managers will increase.
In terms of the education and training sector, English training centers, international schools and online education centers are developing at a fast pace and require more experienced candidates.