In Q3/2020, Vietnam's economy suffers the second wave of coronavirus in July, thus recruitment inquiries at Adecco Vietnam remain the same as Q2/2020 while the number of job applications from white collar-workers (+4500) doubles.

Companies are taking a cautious approach in recruitment activities to avoid mass layoffs. Hiring processes also take longer in quarterly comparison. The employed are reluctant to switch jobs due to the uncertainty, ambiguity, and volatility that any company may face. The labor market indeed takes more than another quarter to return to normal.

During up-and-down times, demands for senior managers and director/C-suite levels in some sectors still lead the way, as companies require top-tier candidates to optimize workforce efficiency in the new era. Technology-related positions, especially CIO/CTO and infrastructure engineers spiked (+20% as of Q2/2020) to speed up organizational digitization and transformation processes. Conventional commerce areas such as sales and digital marketing within the consumer and healthcare companies are also highly sought after.

Manufacturing is slowly resuming its export activities, especially the footwear and textile sector. However, even when companies ramp-up to full production capacity, they still struggle to keep quality and productivity intact since their expat experts are not yet able to enter Vietnam.

Mr. Chuong Nguyen, Associate Director of Recruitment Business in Ho Chi Minh Office, Adecco Vietnam confirms: ‘’Employees may find it more challenging to look for jobs at this time because the labor supply outweighs the demand. They will cope with fierce competition among better-qualified profiles, plus the difficulty in salary negotiation.

However, the situation will become more positive as Vietnam successfully controls the COVID-19 and flights gradually open. We foresee that companies will reinforce their talent acquisition activities intensely since Q4/2020, especially sales and operational roles in services & F&B sector’’.

In terms of business development and transformation in the wake of the pandemic, Mr. Chuong advises: ‘’As Covid-19 triggered many workplace changes, adaptation and agility will be key drivers to bounce back from hardship. New roles & responsibilities have arisen to facilitate fast-tracking trends such as automation and digitalization.

Corporates should spot areas to innovate, especially organizational restructure for an unconventional new way of work. Thus, such positions as Business Transformation, Organization Development and Innovation professionals, will take a leap to unleash the human resource and organizational potentiality’’.