Adrien Bizouard, country manager, Robert Walters Vietnam (Source: VNA) HCM City (VNS/VNA) - Most Asian companies, including those doing business in Vietnam, believe it is becoming increasingly difficult to recruit international talent though 40 percent (75 percent in Vietnam) plan to increase their international headcount in the next 12 months, according to a new report.
“How to attract and retain the right talent to grow your business internationally,” by London-based professional recruitment firm Robert Walters said the greatest challenges are due to the high salaries expected by applicants despite lacking the skills required.
Adrien Bizouard, country manager, Robert Walters Vietnam, said: “With this report, targeted at Asian companies looking to internationalise, we hope this serves as a strategic roadmap on how to equip Vietnamese businesses with the talent they need.”
In Vietnam, when asked “What are the top three reasons for leaving their previous Asian companies,” 57 percent of the respondents indicated low transparency in company decisions and changes compared to only 35 percent in Asia.
This was followed by the lack of professional training and personal development programmes (55 percent). The third reason (53 percent) was they could not see a progression in their career paths.
Besides common motivating factors such as pay and benefits or company reputation, promotion opportunity was by far the most popular response (63 percent) to the survey question on what motivates international talent to work in an Asian business.
The report suggested that Vietnamese companies should build their employer proposition to attract talent by providing a competitive salary range and highlighting their expansion strategies for the future besides identifying and promoting their advantages over Western companies.
Vietnamese companies should build and maintain a unique company culture through fostering close relationships within the firm at all levels, and create a culture of collaboration and teamwork which could turn into an advantageous factor, it said.
“They should provide structured training and career development programmes that would support employees in professionally shaping their careers with the option of implementing a job rotation programme to allow staff to gain an overview of the business and variety of skills.”
Asian companies are growing in international status and changing the global business landscape: 40 percent of the companies in the latest global FORTUNE 500 list are Asian, more than from any other continent.
The need for international growth was recognised by a majority of the survey’s respondents, with 70 percent of Asian firms and 67 percent of Vietnamese firms stating that they plan to grow their international footprint within the next three years.
The report was based on interviews with more than 5,000 HR professionals, hiring managers and candidates in China, Indonesia, Malaysia, Philippines, Singapore, Thailand, Taiwan, and Vietnam.-VNS/VNA
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