ERC Conference - Vietnam
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ERC Conference - Vietnam

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A presentation I delivered at the Worldwide ERC, The Workforce Mobility Association, Conference; "The Global Workforce Summit: Focus on Asia-Pacific" was held on March 4-5, 2009 in Singapore.

A presentation I delivered at the Worldwide ERC, The Workforce Mobility Association, Conference; "The Global Workforce Summit: Focus on Asia-Pacific" was held on March 4-5, 2009 in Singapore.

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ERC Conference - Vietnam ERC Conference - Vietnam Presentation Transcript

  • Viable, Vibrant, Sometimes Vexing Vietnam Human Resources Insights William Chin Senior Staffing Manager Qualcomm
  • Vietnam Overview Population • 13th largest worldwide 86 Million 8M – HCMC 4M - Hanoi Median Age Literacy Rate 26.9 90.3 Key Industries Pro Business • Competes against China, India GDP @Thanh Nien News.com 2006 2007 2008 2009 8.2% 8.4% 6.2% 5% est 2 GLOBAL WORKFORCE SUMMIT: FOCUS ON THE ASIA-PACIFIC
  • The Alternative to China • Abundant labor supply • Lower wage costs With • Competitive w/ China and India Predictable • Growing consumer market Outcome • Strong business orientation 3 GLOBAL WORKFORCE SUMMIT: FOCUS ON THE ASIA-PACIFIC
  • Headline News 4 GLOBAL WORKFORCE SUMMIT: FOCUS ON THE ASIA-PACIFIC
  • Labor Trends • Expanding labor market • Demand outstrips supply • Greatest gap in professional, middle, senior management • More opportunities, greater turnover • Driving up salaries All Industries 5 GLOBAL WORKFORCE SUMMIT: FOCUS ON THE ASIA-PACIFIC
  • HR Band-Aid • Scramble for Talent • Outbid the Competitor • Poor Talent Management 6 GLOBAL WORKFORCE SUMMIT: FOCUS ON THE ASIA-PACIFIC
  • Labor Profile Local Overseas Expat Returnees • Skilled supply tight • Adjustment difficult • Cultural identity (some) • Cultural/language • Quality varies barrier • International exposure • Limited experience • Seasoned leadership • Local language ready • Practical skills minimal • Costly salary and • Commitment level • Abundant opportunities benefits varies • SOE competition • High salary requirement 7 GLOBAL WORKFORCE SUMMIT: FOCUS ON THE ASIA-PACIFIC
  • Skill Groups • Mostly filled by • Common Issues • Over educated foreign expats • Local candidates • Under experienced lack int’l exposure • Expect a fast-track • Most capable turn • Premature entrepreneur promotions Senior Middle Managers Managers • University training • Migrant workers • Abundant supply improving • Exam oriented • Untrained • Limited practicum • Hungry for training and exposure Professional/ Semi/ Technical Unskilled Staff 8 GLOBAL WORKFORCE SUMMIT: FOCUS ON THE ASIA-PACIFIC
  • Compensation Trends 2007 2008 2009 •Increasing (12%) •Increasing (15%) •Salary freeze, Salary •Stiff competition •High inflation deferment (25%) Pay Structure Net Income (15% of Gross Salary (85% Gross Salary, new companies) of companies) tax laws Turn-Over 18% 18% Critical skills Stiff competition Competition remain high continues Benefit Trends: Mobile phone, transportation allowance, meal allowance, private health care, personal loans, overseas training 9 GLOBAL WORKFORCE SUMMIT: FOCUS ON THE ASIA-PACIFIC
  • Pay Attention Social Social Labor Law Labor Unions Insurance / Tax Responsibility • Changing • New Social • “Illegal” strikes • High corruption Insurance law, • Ambiguous • Labor relations • Policy Jan ’07 documentation • Subject to • New Income • Role Model, interpretation tax regime, Jan ’09 Training • Increasing • Net to Gross minimum wage Income 10 GLOBAL WORKFORCE SUMMIT: FOCUS ON THE ASIA-PACIFIC
  • Outlook • Market continues to expand, slower • Economy hit hard, like the rest of the world • Still hiring, critical skills in demand • Slight bargaining power by employers • Still, a stable political environment 11 GLOBAL WORKFORCE SUMMIT: FOCUS ON THE ASIA-PACIFIC
  • Lessons Learned • It takes time, go slow • More complicated then expected • Network, build relationships • Seek expert advice • Long term investment Leadership Involvement 12 GLOBAL WORKFORCE SUMMIT: FOCUS ON THE ASIA-PACIFIC
  • Thank You William Chin Senior Staffing Manager, Qualcomm For More Info: http://asiarecruitingtidbits.blogspot.com GLOBAL WORKFORCE SUMMIT: FOCUS ON THE ASIA-PACIFIC