The Vietnamese banking industry will have large-scale recruitment demand this year, recruitment service provider Navigos Group has forecast.
In a recent report on recruitment demand for middle and senior personnel in Việt Nam’s market, Navigos Group said that forecast signals in 2022 show that large-scale recruitment demand in the banking sector would continue to increase.
“Some banking and securities companies are also looking for senior personnel for key positions leading the new business strategy,” the report said.
Recruitment requests in Q4 2021 of businesses in the financial and banking sector decreased compared to the previous two quarters because banking, as well as financial companies, tend to focus on making plans for the new year.
However, from the end of Q4 2021, a large number of recruitment projects look for positions such as information technology in financial service consulting companies and sales positions for insurance companies and banks, serving business expansion and development in 2022.
The report also said information and communication technologies (ICT) was still an exciting industry in the recruitment market. ICT is an industry that has not been affected much by the pandemic, thus this industry was still vibrant for recruitment demand.
Appearing in the market are companies in the IT sector investing in Việt Nam through the opening of representative offices or the establishment of Research and Development (R&D) centres for technology.
In Q4 2021, as observed by Navigos Search, businesses have a lot of demand to recruit good personnel in the fields of artificial intelligence (AI), big data, crypto and blockchain. However, the supply of human resources in these fields is poor, leading to competition among enterprises that need recruitment. In addition to Hà Nội and HCM City, businesses in the IT sector also open offices in Đà Nẵng.
Meanwhile, in the fast-moving consumer goods (FMCG) sector, businesses have applied bonus policies to retain or attract talent.
FMCG businesses have experienced a tumultuous year due to the pandemic. Recruitment activities are frozen because businesses have to save costs to ensure business results are maintained. Due to fear of losing year-end bonuses, candidates were reluctant to leave jobs at this time.
Accordingly, multinational companies have applied bonus policies to retain employees or to attract talent. For the key personnel of the business, they use a retention bonus policy. For good personnel that the enterprise wants to recruit, they also apply a “Sign-on bonus” policy. These bonuses help candidates when moving to a new company as they can receive the bonus they would have received at the previous company.
In Q1 2022, recruitment in the FMCG industry will flourish again as businesses begin to use new budgets.
The prospects of strategic deals and ease in foreign ownership rules might provide commercial banks with more firepower.
2021 was a fruitful year for commercial banks, which saw a 25 percent growth rate.