Job market expected to pick up in 2021
Job market expected to pick up in 2021
The job market will slightly pick up in 2021, with more recruitment demand for employees in manufacturing, IT, banking, and insurance industry, according to a report on the middle and senior recruitment demands in Vietnam by Navigos Vietnam.
The pandemic disruptions cannot hold down the job market in 2021
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Specifically, industrial zones in Binh Duong, Dong Nai, Long An, and Can Tho are drawing attention and investment from foreign manufacturing enterprises, which will create more employment this year.
According to the analysis of Navigos Search, Japanese manufacturing enterprises in the electronic and automotive spare parts plan to expand in 2021. In addition, many manufacturing enterprises from Europe, the United States, China, and Japan are exploring the market to invest in factory construction and develop production and business activities in Vietnam, especiay the southern market.
Due to the land shortage in Ho Chi Minh City, it is expected that they will grow in new industrial zones in Binh Duong, Long An, Dong Nai, and Can Tho.
In the fourth quarter of 2020, Navigos Search also observed the quick recovery of recruitment in the IT industry after COVID-19. Enterprises continue to recruit but focus on high-quality personnel with the most up-to-date technologies to increase their products and services' competitiveness. "New entrants" are quickly building their recruitment brands and having good salary and bonus policies to attract qualified personnel.
Although the COVID-19 epidemic delayed recruitment in the IT industry, companies are making plans to recruit 1,000 IT engineers in 2021.
Meanwhile, the banking industry is looking for candidates to work in technology and data. Banks are planning to recruit a large number of employees for credit sales (customer relations). Also, recruitment in the technology and data sectors will be boosted due to strong demand for digital transformation at commercial banks.
Another sector with bright employment prospects is the insurance industry. Since a number of life insurance companies have signed exclusive contracts with commercial banks in bancassurance, they are in need of recruiting consultants to work full time.
