Ms. Nguyen Thi Bich Hong, Managing Partner of HR2B Global, tells VET about the demand for mid-level and senior managers and employers' measures to find talent.
The supply of mid-level and senior managers was scarce in all of 2015. Do you think this will still be the case in 2016?
The scarcity has continued into the beginning of 2016. When asked about demand for mid-level and senior managers, 80 per cent of enterprises say they need to fill such positions but supply is lacking. Manager/director-level positions are especially in demand.
Information technology (IT) has demand for software developers. IT is changing a great deal and education and training is not meeting requirements. Staff regularly change from one company to another.
Banking, meanwhile, requires high-level managers, but like IT it’s a case of staff just changing their employer. There is a difference between local and multi-national corporations (MNCs) in this regard. MNCs normally promote from within, with staff becoming managers.
The demand for managers in education and training is also huge. Training facilities and schools run by foreigners or large investors are also in need of management and sales/marketing staff.
I think the scarcity of supply for mid-level and senior management will remain the same in 2016.
What measures do employers need to adopt to overcome this shortage of supply?
I don’t see any breakthrough measures in what they are doing now. Some measures have, though, been implemented relatively effectively. MNCs have strategies where they train their employees from low to high levels. Small and medium-sized enterprises, meanwhile, don’t have the finances for training internal employees. They focus instead on talent retention. At a recent conference held by HR2B in cooperation with AmCham (American Chamber of Commerce), one of the solutions discussed for retaining talent is to develop them in-house. Employers need to build a career path and motivate their talent.
What do senior talent expect of employers?
MNCs have good foundations that make senior talent wish to join. Career development, personnel development, and opportunities for promotion are top of their expectations. They also expect high incomes, and those in CEO position also expect benefits. Talent wish for a stable environment and good leadership and want support from managers and directors. In many cases talent choose to leave their organization because of their mangers.