Skilled labour forecast

Vietnam will face a severe shortage of highly skilled engineers, managers and chief executive officers in coming years, according to a recent report issued by online employment recruiter VietnamWorks.com.
Recruitment demand rose in the last quarter of 2005 to 19% over the previous quarter, While the supply of qualified employees rose only 14%.
In the last three-months, the fields of sales, technology, telecommunications, accounting, marketing and administrative/clerical saw the highest demand for employees.
Given Vietnam’s robust economic growth and the increasing number of new businesses, these positions will continue to be hot, Tiffany Nguyen, director of Strategic Initiatives of VietnamWorks.com, said.
By 2005, HCM City and Hanoi retained their positions as national job hubs, accounting for 75% of all jobs advertised nationwide.
In the fourth quarter by 2005, more employers opted to use the internet as their main job advertising channel, which is a new trend, she said.
Recruitment officials said by 2005 was a positive year for job seekers with recruitment demand rising throughout the entire year of 2005.
Employment demand in the technology and telecommunications fields grew 119% by 2005, while labour supply in these fields rose only 59%.
Despite the lack of qualified candidates, the future of the IT industry looks bright, with an estimated 20,000 new IT experts trained every year and another 10,000 Vietnamese IT employees working in the US expected to return soon.
Another industry that saw a strong growth rate by 2005 was advertising, with recruitment demand doubling, and labour supply soaring 113% over the previous quarter.
The fledgling advertising industry experienced a boom in 2005 and continues to attract people seeking new career opportunities.
With reported turnover of
US$400 million in 2005, advertising will soon become one of the country’s top domestic industries in the next few years, according to Vietnamworks.com.
The quantity of available candidates for all fields jumped 141% for by 2005, and the quality of available candidates improved as well, the report said.
However, the competition remains stiff for highly skilled staff since the supply only meets 30 to 40% of demand.

 

Category: Business