In this issue:
- Opportunities and Challenges in the Labor Market
- Regional Labor Markets
- Mid-Level Management: Turnover and Retention
Vietnam's labor force is one of the major drivers of foreign investment in Vietnam. Labor intensive sectors have played a crucial role in the socio-economic development of the country, making it one of the fastest growing economies in the world. As the economy develops, labor costs will increase along with the demand for skilled labor.
While the labor pool is growing fast, demand for skilled workers continues to grow at a rapid pace, which may be a concern for employers. In addition, companies need to understand other factors such as location, wage increases, social contribution regulations, labor productivity, and labor availability to create an efficient and cost-effective hiring strategy.
In this issue of Vietnam Briefing, we highlight the opportunities and challenges in the labor market – in areas such as productivity, wages, quality, and regional variations – so that companies can make informed decisions and optimize their hiring strategies based on their location. We also focus on middle level managers, who play a crucial role in an organization and are one of the major challenges for employers in terms of turnover.
Dezan Shira & Associates has a growing team of human resource specialists in Vietnam that can help develop hiring strategy for the rapidly evolving labor market in Vietnam. For questions on recruitment assistance, HR administration and payroll services, please contact us at email@example.com