As we move through 2024, the landscape of recruitment in Vietnam presents a mixed yet promising picture. In the first half of 2024, there was a minor decline in recruitment demand compared to the final months of 2023. However, this decrease is negligible when compared to the robust demand seen in the first half of 2023. This steady demand underscores a positive trend for Vietnam’s recruitment market, particularly as we anticipate growth in the latter half of the year.
Rising Recruitment Trends in Vietnam
Recent observations from Reco highlight a significant improvement in the labor market. The latter part of 2023 saw an uptick in recruitment needs, a trend that has continued into 2024. This is evidenced by a noticeable increase in new job postings across headhunting agencies, recruitment websites, and job portals. Despite a minor dip in the initial months of 2024, the demand for recruits remains strong, reflecting a stable and expanding labor market in Vietnam.
Demand for Recruitment by Job Level
Analyzing recruitment patterns reveals a clear preference for experienced (non-managerial) candidates, who represent 71.42% of the hiring demand. Managers come next with a 19.27% share, while the need for Director/C-level positions is comparatively lower at 3.47%. This distribution indicates that companies are focusing on filling roles with seasoned professionals rather than prioritizing higher-level management positions, which are less susceptible to turnover.
Different sectors may exhibit varying hiring needs based on job level, but the overall trend highlights a strong preference for experienced non-managerial roles.
Global Comparison: Where Vietnam Stands
When compared globally, Vietnam stands out in recruitment demand. According to recent data, Vietnamese enterprises account for a substantial 58.49% of the hiring demand, significantly surpassing other nations. Following Vietnam, countries like South Korea and Japan also show notable hiring demands, with 3.83% and 9.24% respectively. Other developed countries such as Singapore, China, Germany, France, the UK, and Taiwan also contribute to global recruitment needs but to a lesser extent.
>> See more: Vietnam IT Labor Market 2024
Conclusion
The current recruitment demand in Vietnam indicates a vibrant and growing labor market. Despite a minor dip early in 2024, the overall trend remains positive, suggesting continued growth and opportunity. Businesses in Vietnam should be proactive in their hiring strategies, preparing for a potentially strong recruitment period as the year progresses.