Talent Trends 2021

Talent Trends 2021 Report: The Vietnam Salary Guide - Transformed

The Michael Page Salary Benchmark Guide has traditionally been our annual salary guide that advises business leaders, hiring managers and job seekers to make informed hiring decisions in Vietnam. However, given the COVID-19 pandemic and its continued disruption on the global economy, we recognise that our salary guide must go beyond salaries. It needs to provide a current overview of the future of work – reflecting the true environment and ongoing challenges.

Enter Talent Trends 2021: Our refreshed report features new insights and market sentiment for industries that have experienced significant upheavals in the past year. The hiring landscape has changed significantly. Human capital leaders had to solve new challenges and adapt quickly to set up systems for remote operations. Therefore, this report will cover prominent recruitment and talent-related focus areas such as digital readiness, organisational design, flexible work, leadership, performance management, and diversity and inclusion in the Asia-Pacific region, and a deep dive into the specific hiring trends in Vietnam.

The insights in this report are derived from a regional survey that covers 12 Asia-Pacific markets. The responses came from over 5,500 businesses and 21,000 employees, of which 3,500-plus are directors or CXOs – making our Talent Trends 21 report, the definitive guide to hiring trends for Vietnam, as well as the Asia-Pacific region for the year ahead.

Watch the webinar and receive the Talent Trends 2021 Report here.

Key Employment Statistics in Vietnam

50%

of companies in Vietnam are looking to increase their headcounts in 2021

58%

of those employed anticipate looking for new job opportunities, while another 34% are passively open to new roles

10%

expect a zero pay increase from their current salary for new job offers

Report Highlights

1. Future workplace trends

From our findings, learn about the top priorities for CXOs in 2021, key investment areas, employees’ preferences on workplace flexibility, and performance assessment.

2. People-first strategies

From leadership communication to mental health matters, the report highlights the best people strategies to engage your employees.

3. Salaries and bonuses

Find out how your company’s offer for new hires compare against competitors and expectations from job seekers.

4. Attracting and retaining top talent

Remuneration may be crucial, but it is not everything in talent attraction. Learn about the non-monetary aspects of attraction and retention strategy that job seekers value most.

The Vietnam Market: Embracing disruptions and the road to recovery

Mark Donnelly
General Director, Vietnam

By all accounts, Vietnam has weathered the COVID-19 pandemic better than many of its neighbours in the region. Its tight and swift control of the situation not only kept the number of cases low by comparison, Vietnam’s economy, too, remained in a relatively good shape over 2020. While multinational companies based there were cautious on the recruitment front, domestic companies took the opportunity to ramp up their hiring activities and secure the best available talent.

Our Talent Trends 2021 report reflects vital market insights for the next 12 months ahead of us. Acquiring and retaining high potential talent will be crucial for future growth. We saw many businesses looking to prevent employee cuts and redundancies as much as possible during the pandemic. And several industries are already showing signs of a healthy recovery.

This was evident especially among Vietnam’s burgeoning technology sector. Startups and e-commerce, for example, operated unabated throughout the year, and hiring demands within those sectors were healthy. In recent times, Vietnam’s efforts to position itself as a hub for software development also paid off in 2020, with markets like Japan, Hong Kong, China and South Korea investing heavily into the country’s technology sector. Despite a slow year for manufacturing, Vietnam still saw a record year in terms of export surplus — a positive indicator for the road ahead.

Looking ahead, Vietnam is well-positioned to bounce back from the impact of COVID-19. In the meantime, businesses are well-advised to focus on employee engagement and well-being, ensuring that the entire organisation is poised for the recovery phase and beyond.

Download Talent Trends 2021