Reeracoen Vietnam, a leader in recruitment solutions, released the findings of its comprehensive survey delving into the hiring outlook, motivations and strategies of employers across Vietnam for 2024.
The report offers a nuanced pulse of the country’s evolving job market and emerging workforce trends by surveying 105 organisations in 30 industries, including booming sectors like technology, manufacturing, finance, and insurance.
Notably, the manufacturing and technology sectors are experiencing rapid growth, driven by foreign investments and Vietnam’s commitment to digital transformation.
This growth reflects Vietnam’s broader economic transition from traditional agricultural bases to more diversified sectors, including manufacturing, services, and construction, which aligns with the nation’s goals for industrialisation and urbanisation.
The survey reveals an optimistic hiring outlook for 2024, with 89.5% of respondents indicating plans to expand their workforce. Key highlights include:
- Pronounced Growth in Manufacturing, Technology: The survey encompassed Vietnam’s thriving manufacturing and technology sectors, which are undergoing rapid transformation and emerging as dominant drivers of economic growth, fuelled by foreign investments and local expansion efforts.
- Buoyant Hiring Plans Amidst Global Uncertainty: Despite global economic headwinds, 89.5% of surveyed employers have concrete hiring intentions for 2024, with over 53% looking to onboard between one and five new employees. Additionally, 24.8% of employers anticipate hiring more than ten individuals, underpinning significant growth and expansion efforts across various sectors.
- Business Growth Driving Recruitment: Expanding operations is the dominant recruitment driver, cited by 56% of respondents. Filling vacancies and acquiring specialised skills also rank high among hiring motivations.
- Diversified Recruitment Strategies: Employers are exploring diverse sourcing channels, from digital platforms to internal mobility, to meet hiring needs. Notably, recruitment agencies are increasingly the go-to partners for their efficiency and access to talent.
- Integral Role of Recruitment Agencies: 72% of surveyed companies leveraged recruitment agency services in the past year to fill critical talent gaps, pointing to their value-add in an evolving job market.
“The survey results validate our positive outlook for Vietnam’s job market in 2024, with hiring intentions remaining strong across sectors,” noted Kosuke Soejima, General Director at Reeracoen Vietnam.
“This reflects the vibrancy of the country’s economy and the wealth of opportunities it presents for employers and job seekers,” he added.
Echoing this sentiment, Masato Sekine, Branch Manager, highlighted the strategic underpinnings of hiring trends.
He said, “The diversity in hiring motivations — from expanding operations to acquiring niche skills — illustrates the strategic workforce planning businesses are adopting to navigate the evolving market landscape. Our role as a recruitment partner is to enable seamless talent acquisition across these diverse needs.”
Reeracoen Vietnam’s extensive network across key APAC cities and its rich database of locally-based professionals with high English proficiency — and over 10% possessing multilingual fluency — position the company as a formidable player in harnessing regional talent opportunities.
