IT and finance companies are hiring managers in droves
The employees work at KSM Solution, a technology company in Tan Binh District, Ho Chi Minh City. Photo courtesy of KSM Solution.
Staffing firm Navigos Group said in a note that demand for executives in the textile and apparel industry rose 50-60% year-on-year in the first quarter.
Its analysts attributed it to the impact of free trade agreements, particularly the EU-Vietnam Free Trade Agreement (EVFTA), which increased the number of orders for the sector. The political crisis in Myanmar has also caused an influx of orders to Vietnam, resulting in increased demand for human resources.
But most preferred foreign applicants to locals for mid-level and senior positions, Japanese and Koreans as sales managers, and Chinese, Sri Lankans and Indians as production managers. The reason for this was that candidates had to have professional experience and knowledge of the Southeast Asian market, a requirement that the Vietnamese had difficulty meeting.
IT companies have seen a growth in recruitment demand, especially in the outsourcing and product segments, amid expansion plans.
Financial services companies are in the midst of digital transformation and therefore need a large number of IT staff, and prefer Vietnamese candidates.
Navigos expects demand in the IT sector to increase by 20-25% this year.
Banks have seen strong demand for staff in their priority banking, technology, legal, compliance and bancassurance divisions.
Meanwhile, the huge increase in the number of new investors entering the stock market in the first quarter caused a surge in demand for workers in securities firms.
Overseas Vietnamese candidates specializing in areas such as digital transformation, technology, data and marketing have been preferred by financial institutions.
According to data from Navigos, the highest salaries in the first quarter ranged from VND100 million to VND230 million ($4,300 to $10,000) per month, mainly in the retail and real estate sectors. .