Highlights Of Webinar: Vietnam 2024 – The Economy Landscape, Recruitment Trends And Compensation Overview
Highlights Of Webinar: Vietnam 2024 – The Economy Landscape, Recruitment Trends And Compensation Overview
March 22, 2024
Early on March 21st, Talentnet successfully organized the webinar - Vietnam 2024: The Economic Landscape, Recruitment Trends and Compensation Overview. The event attracted nearly 600 registrations from businesses in Hanoi and the Northern region.
Accordingly, this conference brought updated information on the economic landscape, recruitment trends and compensation, led by speakers who are leading experts in the industry including:
- Mr. Joon Suk Park, Country Head of International Subsidiary Banking, HSBC Vietnam
- Mr. Tim Tsang, Regional Account Director, LinkedIn
- Ms. Nguyễn Thị Quỳnh Phương, Director of HR Consulting Services, Talentnet
Update on the macroeconomic situation in 2024
At the beginning of webinar, Mr. Joon Suk Park, Country Head of International Subsidiary Banking, HSBC Vietnam gave an overview of the Vietnamese economy in 2024. “The effects of inflation and climate change are also key causes impacting purchasing power, supply chains, and governance for an open economy like Vietnam that depends heavily on FDI and import & export.”– Mr. Joon Suk Park shared.
Furthermore, throughout his presentation, Mr. Joon Suk Park provided numerous insightful remarks and statistics regarding the Vietnamese economy.
Overview of recruitment trends in Vietnam & Asia
LinkedIn data has shown that the Asian market currently has two rapidly growing industries: Information Technology and Consulting Services. Also, Mr. Tim Tsang has shared the three industries having the most workforce currently are Professional services, Manufacturing and information and communication technology (Technology, Information and Media).
Mr. Tim Tsang highlighted that the hospitality and food service sector’s robust recovery—which saw growth of 1003% in 2022 and 2023 over the previous year—remains the bright spot in the Vietnamese economy today.
Vietnam Salary & Benefits: Benchmarking vs. Global & Regional
Ms. Nguyen Thi Quynh Phuong, Director of HR Consulting Business, also provided key data about salary and compensation.
Almost every generation that has worked for the company wants to be promoted after three years. This period is reduced to two years for Gen Z. However, the average seniority of this generation is 1.7 years. In order to attract Gen Z talent and keep them on staff longer, organizations should modify their human resources policies or shorten the time required for promotions, depending on their organizational plan.
The webinar brought many different aspects of economics, recruitment and compensation to businesses in Hanoi and the Northern region, thereby helping businesses have more perspectives and data to build benefits and recruitment plans for a growing strategy.
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