Nov 25, 2021, Ho Chi Minh City, Vietnam: Adecco Vietnam's latest survey aims to assess the impact of the COVID-19 epidemic on graduate employment and recruitment activities. The findings from this survey can help fresh graduates, employers and educational institutions better understand the current situation and find the right future directions.
To deepen the understanding of the changing labor market, Adecco Vietnam conducted a countrywide survey in October 2021 with the topic "Graduate employment and recruitment in COVID-19 pandemic". The survey receives a total sample of 480 responses from both sides.
As for employers, 56.3% are MNC and 43.8% are local businesses. They are from various sectors, but mainly Professional services (22.5%), IT & Technology (18.8%), and Manufacturing (13.8%).
As for freshers, the majority is from a public university/college (55.7%), and an international university/college (22.1%). Nearly 43% of them are currently employed full-time. Around one-third are unemployed and looking for a job.
The survey results reveal most freshers (88.5%) consider salary and compensation package as their top priority when deciding to take a job, closely followed by training and development opportunities (87.7%), and career progression (73.8%). They also pay little attention to commitment, while this is one of the main concerns of employers.
Ms. Thu Ha Nguyen, Director, Adecco Hanoi office, declares, “Happy to see that fresh graduates primarily focus on training opportunities and career advancement". She explains the high turnover rate among freshers, "Usually, young talents like to experience several positions, different working environments, sectors, and company types. This is quite understandable when they are still in the early stage of their career and have not yet clear what is most suitable".
As for employers, she offers some suggestions to recruit and retain young talents. "During the hiring process, you should learn about the candidate's long-term goals to see if they align with your business plan and your ability to meet them. For example, if the candidate wants to involve in the whole process, but the vacancy is just a small link, you should consider whether the candidate will soon get bored and leave. Besides, to ensure both sides are on the same page, you also need to discuss intangible factors such as team culture and growth potential”.
Key findings:
- Nearly 39% of businesses see a decline in fresh graduates hiring demand, 27.6% increase, and 28.7% of businesses remain the same hiring need.
- Over 59% of freshers believe there are fewer job opportunities than before, 41.8% are concerned about the lack of practical knowledge, and 40% say they have fewer chances to reach employers.
- Despite many challenges of finding a job, 43% of fresher see this situation as a chance to enhance their skills and knowledge, 33.6% reflect on their career goals, and an equal number use this time to consider a career in another field.
- When asked about their preferred type of job, remote work was ranked second, just behind the conventional full-time job.
- Fresh graduates are very proactive with diverse job search approaches. Searching on job posting sites is the most common way (68.9%). 65.6% of freshers actively market themselves on social media sites such as LinkedIn and Facebook. Nearly 55% attend a course, training, or short-term study program, and about 42% join an internship or trainee program.
- Both employers and freshers take soft skills seriously. More than 71% of employers and almost 75% of new graduates consider this a key persuasive point in recruiting new graduates.
- Only 39.3% of new graduates evaluate job security, and a much more modest number 15.6% look at the business’s COVID-19 related support policies.
- Most employers (over 51%) look for a gross monthly salary from 6 to under 10 million. 27.5% are willing to pay from 10 to under 15 million. Meanwhile, most fresh graduates (more than 43%) expect 10 million to under 15 million, and about 31% want from 6 million to under 10 million.
- The main concerns when hiring graduates are the lack of soft skills (47.5%), unrealistic expectations (45%), and the possible lack of stability which leads to a low retention rate (41.3%).
- Despite certain concerns, over 56% of employers appreciate freshers’ vision and initiatives, nearly 54% appreciate their enthusiasm, and 40% of employers say freshers help build a diverse workplace.
- In the next 6 months, 62% of new graduates going to find new jobs. The hiring demand is also significant. Entry-level positions remain the most sought-after as 36.3% of employers are planning to fill these roles. Talent demand for internship and trainee programs is rising significantly (both 31.3%).
Special thanks to our trusted partners who contributed to the analysis of the survey results:
- Brian O'Reilly, MBA Program Coordinator, Vietnamese-German University (VGU).
- Melvin Fernando, Manager, Employment & Industry Relations, RMIT University Vietnam.
- Y Pham, Chief Growth Officer, Nano Technologies.
About Adecco Vietnam
Established in Vietnam in 2011, Adecco Vietnam – a member of The Adecco Group - is the leading Payroll, Recruitment & Outsourcing Agency in Vietnam. We provide one-stop solutions for all Human Resources needs. Operating for more than 60 years, The Adecco Group has 30,000+ passionate employees in 5,000+ branches across 60 countries and territories worldwide.
Website: adecco.com.vn
For further information please contact:
- Ms. Tran Nguyen – Digital Marketing Executive
- Email: tran.nguyen@adecco.com