How to Manage the Labor Market in Vietnam - Preview

2 Introduction ALBERTO VETTORETTI Managing Partner Dezan Shira & Associates 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, whichmay 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 inVietnam. For questions on recruitment assistance, HR administration and payroll services, please contact us. With kind regards, Alberto Vettoretti Credits Publisher / Alberto Vettoretti Editors / Maxfield Vandel Brown, Koushan Das Design / Belén Rodríguez Reference Vietnam Briefing and related titles are produced by Asia Briefing Ltd., a wholly owned subsidiary of Dezan Shira Group. Content is provided by Dezan Shira & Associates. No liability may be accepted for any of the contents of this publication. Readers are strongly advised to seek professional advice when actively looking to implement suggestions made within this publication. For queries regarding the content of this magazine, please contact: All materials and contents © 2018 Asia Briefing Ltd. Asia Briefing Ltd. Unit 507, 5/F, Chinachem Golden Plaza, 77 Mody Road, Tsim Sha Tsui East Kowloon, Hong Kong.