Hi there! Welcome back to Adecco Vietnam’s FutuHRe Insight. This month, we will take you on an around-the-world trip, having conversations with thousands of knowledge workers and young leaders to explore the latest impactful stories in the world of work.
Hop onboard now to start our journey, departing from Vietnam!
#1 Vietnam Labor Market in Q3/2021 and forecast for Q4
More than 5 months into the 4th COVID wave, Vietnam’s economy witnessed a slump of 6.17% in GDP in Q3. Especially in the southern region, strict social distancing policies have greatly hindered corporate production and employment, resulted in volatile hiring demands in the labor market.
However, Q3 saw a positive signal for high-quality personnel in some areas, such as retail, energy, manufacturing, and technology, etc.
Given the uncertainty of the pandemic, our experts are cautiously confident that hiring demands for these sectors will continue to thrive in Q4/2021.
#2 Resetting Normal 2021 Research: 3 crucial trends to watch out
In The Adecco Group 2021 Resetting Normal research, we spoke to 15,000 knowledge workers across 25 countries. Here’s what we learned about their expected future of work.
We conducted a holistic approach to Hybrid Working, where the good, the bad, and the ugly sides of this trending working model all come to light. Despite the overall positive attitude towards hybrid working models, tensions remain as employees want flexibility whereas their companies are more into increasing on-site time.
Burnout may be the next pandemic for workers, since 74% of respondents say their company should increase focus on mental health. Not only worldwide, but our local survey also confirmed the gap between employees’ mental wellbeing needs and company support. These findings are a timely reminder for companies to put more effort into mental health in their workforce management strategy.
Lastly, a surprising 46% of workers say they are not so happy with their company’s leadership, which is a clear indication that there is a disconnect between leader and non-manager perceptions of company vision and strategy.
#3 Young Leaders: The future is people-centric
The future is in the hands of today’s young leaders. What’s more exciting than to have a talk with them about their vision for the future of work?
The Adecco Group Foundation asked 1,000 young leaders from 64 countries to share their views on various aspects, from critical leadership skills to educational requirements to managing remote and onsite teams. Here are our key takeaways:
- Soft skills are far more important than hard skills: 79% of respondents said soft skills would be far more important than hard skills for future CEOs and current CEOs.
- People management and team leadership is the most essential soft skill to young leaders. Communication remained the second, while emotional intelligence was the third.
- College degrees are becoming less crucial: young leaders say college degrees might not be a must to every position and role in the future, but 54% of them still think CEOs would benefit from having a degree.
- Flexible working is the future: 87% of young leaders said they wanted flexible working hours that allowed for a better work-life balance, while being able to rely on stable, fixed-term contracts.
- Mental wellbeing is the most important concern for young leaders. They also expect hybrid working models that support individual employee needs in the future of work.
#4 CEO Voice: Alain Dehaze On The “Great Re-Evaluation”
In an interview with Forbes, Alain Dehaze, CEO of The Adecco Group spoke at length about his insights on the future of work and challenges for leaders as we slowly shift into a post-pandemic future.
He strongly believes flexibility is a must for the future of work. The new challenge is now for human resources and management to “build the right structures, resources and policies to ensure this new way of working delivers an inspiring and sustainable working environment,” Dehaze told Forbes.
That’s the end of this month’s journey. See you again next month!
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