The majority of Vietnamese professionals are optimistic regarding the availability of new and promising job opportunities in 2024, a survey revealed. — Photo courtesy of the agency
Up to 67 per cent of Vietnamese professionals anticipate a pay raise in their future roles, reflecting a notable confidence in the country's job market, a survey has revealed.
The recent Salary Survey 2024 conducted by Robert Walters, one of the world's leading specialist professional recruitment consultancies, showed 62 per cent of respondents expressing optimism regarding the availability of new and promising job opportunities.
Despite uncertainties, the landscape expects stable salaries with regular pay rise increments. Key factors such as competitive compensation, enhanced well-being, and flexible working are prioritised by job seekers in most functions; while job security is also mentioned in some.
The survey said that employers are on the lookout for candidates with robust business partnering skills, emphasising sustainability and CSR in hiring. Stable salaries and pay raises are expected, especially in high-demand sectors like accounting & finance, manufacturing & engineering, sales & marketing, and human resources.
In line with this positive outlook, 62 per cent of businesses in Việt Nam are planning to implement pay raises, with expected increments ranging between 15 per cent to 25 per cent for job movers.
It added that the recruitment focus has shifted towards candidates with strong business partnering skills, placing high value on the ability to seamlessly integrate technical expertise with strategic insights.
According to Phạm Tuấn Phúc, Country Manager of Robert Walters Vietnam, anticipated trends for the coming year include a heightened emphasis on measuring and reporting CSR initiatives as well as digital channels for promoting such initiatives, showcasing clear statistical evidence of a company's commitment to societal impact.
The survey's key findings also show that companies exhibiting decisiveness and agility stand the best chance of attracting top talent in 2024. Therefore, Phúc advises companies to streamline their recruitment processes and clarify their hiring criteria to expedite decision-making.
Beyond speed, companies should prioritise creating a positive candidate experience, as it significantly influences the company’s reputation and employer branding in the long run, he said.
"Once these talents are on board, employers can retain them by fostering a great company culture and environment that keeps them engaged and happy. To address competency gaps, invest in their training and development. Nurture and promptly reward them for their contributions through promotions or staying abreast of compensation and benefits benchmarks in the market," he said. — VNS