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Retention problems
Nearly 64 per cent of companies in Viet Nam ranked employee retention as the number-one human resources challenge in 2010, according to a survey conducted by the executive recruitment solutions provider Navigos Group in the first quarter, queried 168 foreign and local companies.
"For many employers in Viet Nam, 2009 was a year of prudent belt-tightening in the HR budget. However, when the economy started turning mildly positive, we realised that many of our clients started planning for their workforce," Nguyen Thi Van Anh, Navigos Managing Director, said.
Retention continues to be a problem. "Vietnamese employees aggressively pursue opportunities to accelerate their career track by looking to senior positions, challenging work, interesting assignments, training and development, and competitive pay," said Van Anh.
In addition, 57 per cent of survey respondents agreed that hiring the best talent was a big challenge in 2010, ranking this issue as second among the top five challenges of 2010.
"It has never been easy to find the right and best talent in the Viet Nam market and the situation will remain unchanged in the near future," said Van Anh.
Career development management, attracting candidates to organisations and succession planning filled in the rest of the top five 2010 HR challenges, with 54.3 per cent, 44.1 per cent and 38.3 per cent of the votes, respectively.
"The findings of the survey as well as recent observations indicate that getting the right people in the right job with the right skills and having them stay and grow are the missions which will keep HR personnel busy in 2010," she said.
Seventy-two per cent of the respondents said their HR budget increased in 2010, with the highest increase at 120 per cent and the lowest at 2 per cent.
Only 3 per cent of the respondents said their budget was cut and 13 per cent of the respondents said it had remained the same.
At least 133 respondents, accounting for 67 per cent of total responses, said that they planned to increase their employee headcount in 2010, while 8 per cent said their plan was to reduce headcount.
"It is likely that the employment market is heating up again, and possibly will become an employees' market," Van Anh said. "However, we've observed that our clients, though hiring practices, have and will become more selective and efficient in order to maintain competitiveness."
Le Hung Vong
vietnamnews
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