Vietnam Management Channel

Vietnam’s e-Commerce and FinTech companies are searching for staff

According to the most research published by human resource company’s Michael Page and VietnamWorks, Vietnamese companies involved in e-commerce and financial technology are struggling to find employees to fill their existing and future job vacancies.

According to Michael Page, there is a rising demand for talent and the number of vacancies in the e-commerce industry increase by more than 20% in the 12-months that ended in May. According to the Page report, Vietnam’s rapid increase in digital penetration by its young population has fueled an industry wide search for information technology staff, especially data engineers and development managers.

A report by Nielsen Vietnam sheds further light on the industry’s dilemma with a report that notes that 98% of Vietnamese Internet users made online purchases in 2018, as e-commerce has become accessible to anyone with a smartphone.

Vietnam’s Ministry of Industry and Trade reports that with double-digit smartphone growth, e-commerce revenues rose 30% in 2018 and were valued at more than $8 billion USD. By 2023 the amount of revenue generated through e-commerce is expected to be $10 ~ $13 billion USD.

Michael Page that since the availability of local talent is limited and there is intense competition to attract candidates, employers need to increasingly look at hiring staff from Southeast Asia or Vietnamese living abroad who are open to returning to Vietnam.

Financial services and fintech are industries with increasing demand for talent, and there has been a 10% increase in the number of job openings. For banks and fintech companies, the roles that are most in demand are chief operating officers (CEO’s), chief marketing officers (CMO’s), and heads of risk and compliance. Michael Page said that Vietnamese mid-level and management-level professionals, who have international experience and mindsets are in high demand since they "have the ability to challenge the status quo."

Last year fintech was the most invested category among Vietnamese startups, with eight major deals worth $117 million, according to Topica Founder Institute, a startup accelerator program in Vietnam and Thailand which is organized by Topica Edtech Group and Founder Institute.

One of the biggest dilemmas for companies that have IT jobs is the lack of loyalty of staff to their companies. The most recent report by VietnamWorks, on Vietnam IT Market Trends for 2019 notes that 60% of employees said that they were open to moving to a new company in the next 6-months. Of the people wanting to change, 47.5% said they wanted a higher salary; 15.7% said they want a higher career level and 10% said they want to refresh their working environment.

According to VietnamWorks, the highest IT related monthly salaries are paid to Blockchain software developers who receive an average of $2,242 USD per month with the lowest salaries of $1,090 per month paid to software developers who work in hardware. 

 


 NOTE:

 To read the VietnamWorks, Vietnam Information Technology Labor Market Report 2019 ... CLICK HERE !!



 

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