Despite uncertainties, the landscape expects stable salaries with regular increments. Key factors such as competitive compensation, enhanced well-being, and flexible working are prioritised by job seekers in most functions; while job security is also mentioned in some. Employers are on the look for candidates with robust business partnering skills, emphasising sustainability and CSR in hiring. Stable salaries and pay raises are expected, especially in high-demand sectors like Accounting & Finance, Manufacturing & Engineering, Sales & Marketing, and Human Resources (HR).

The Vietnamese recruitment market is gearing up for a promising 2024

The Vietnamese recruitment market is gearing up for a promising 2024, even in the aftermath of economic challenges experienced in the previous year. Notably, 59 percent of surveyed employees in Vietnam across all functions express a keen interest in exploring new career opportunities over the next 12 months. This inclination is fueled by a focused emphasis on sought-after benefits. Professionals strategically prioritise factors such as competitive compensation, enhanced well-being strategies, and the option for remote or flexible work arrangements.

Intriguingly, a substantial 67 percent of the surveyed Vietnamese professionals anticipate a pay raise in their future roles, reflecting a notable confidence in the country's job market. Furthermore, 62 percent of respondents express optimism regarding the availability of new and promising job opportunities. As professionals navigate the evolving employment landscape, this pursuit of enhanced benefits and the strong anticipation of positive career developments remain pivotal in shaping their career decisions in the coming year.

In line with this positive outlook, 62 percent of businesses in Vietnam are planning to implement pay raises, with expected increments ranging between 15 percent to 25 percent for job movers. The recruitment focus has shifted towards candidates with strong business partnering skills, placing high value on the ability to seamlessly integrate technical expertise with strategic insights. In fact, business partnering skills will feature as a key requirement in many roles in 2024. This demand is most prominent in the legal and finance sectors, as well as in human resources.