Employees work at KSM Solution, a technology company in Tan Binh District, Ho Chi Minh City. Photo courtesy of KSM Solution.
Recruitment company Navigos Group said in a note that demand for managers in the textile and garment industry increased by 50-60 percent year-on-year in the first quarter.
Its analysts attributed it to the impact of free trade agreements, especially the EU-Vietnam Free Trade Agreement (EVFTA), which increased the number of orders for the sector. The political crisis in Myanmar also caused orders to pour into Vietnam, leading to an increased demand for human resources.
But most preferred foreign candidates to locals for mid-level and senior positions, Japanese and Koreans as commercial managers and Chinese, Sri Lankans and Indians as production managers. The reason was that the candidates were required to have working experience and knowledge of the Southeast Asian market, a requirement Vietnamese struggled to meet.
IT companies saw growth in recruitment demand especially in the outsourcing and product segments amid plans to expand.
Financial services companies are in the process of digital transformation and so need a large number of IT personnel, and prefer Vietnamese candidates.
Navigos expects demand in the IT sector to rise by 20-25 percent this year.
Banks saw great demand for personnel in their priority banking, technology, legal, compliance, and bancassurance divisions.
Meanwhile, the huge rise in the number of new investors on the stock market in the first quarter caused demand for workers at securities firms surge.
Overseas Vietnamese candidates specializing in areas like digital transformation, technology, data, and marketing were preferred by financial institutions.
According to data from Navigos, the highest salaries in the first quarter ranged from VND100 million to VND230 million ($4,300-10,000) per month, mostly in the retail and real estate sectors.