IT recruitment demand soars
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Companies in Vietnam have hired 175,370 information technology staff this year, up 36.2% year-on-year, as the country’s tech sector continues to boom with rising investment, a report has found. Recruitment demand for IT staff is set to exceed 229,000 by 2023 and 290,000 by 2024, said the Vietnam IT Market Report 2022 by recruitment platform TopDev.
Over half of 2,500 employers surveyed, or 55%, said they had hired more developers than in previous years, it said. Six out of 10 (64%) plan to expand their IT team with more hiring this year, it added. It takes an average 51 days to fill a position in the tech industry in Vietnam, TopDev said, explaining that this is a long period due to the high demand for recruitment and shortage of suitable candidates.
One of the reasons for the upsurge in demand is Vietnam has drawn enough attention from IT companies from other countries, and they are coming in to hire or construct their product development teams, the report said.
“The creative startup wave in technology sector is becoming stronger, especially after big investments for technology startups, while the the transformation wave of traditional businesses in sectors like tourism, agriculture, real estate all shift to digital transformation and e-commerce.”
A fresh graduate earns from $331 a month, but that figure quadruples to $1,410 when he reaches the management level five years later. The Chief Technology Officer, one of the highest positions in the tech sector, earns around $5,900 a month. The top industries in terms of recruitment are NFT or blockchain, high tech (artificial intelligence), and fintech.
Other recruitment platforms confirm the rising need for IT staff. Ha Nguyen, CEO of recruitment platform Adecco, said digital transformation in Vietnam is providing many job opportunities for IT candidates. They can be outsourced to companies in other countries also, she added.
“Because of the high demand, companies still face difficulties in recruiting candidates with high skills despite offering attractive salaries and benefits.”
Recruitment company Navigos said in its second quarter report that the Russia-Ukraine crisis has shifted many IT orders to Vietnam, which increases recruitment demand.
There is a big shortage of IT candidates in the banking and financial sector, as well as in e-commerce, medical services and education, she added.
Questions & Answers
Q.What is the expected demand for IT staff in Vietnam for the coming years?
What is the expected demand for IT staff in Vietnam for the coming years?
Recruitment demand for IT staff is projected to exceed 229,000 by 2023 and 290,000 by 2024. This follows a significant increase in hiring this year, with 175,370 staff already recruited.
Q.Why are companies in Vietnam struggling to fill IT positions?
Why are companies in Vietnam struggling to fill IT positions?
It takes an average of 51 days to fill a tech position due to high demand and a shortage of suitable candidates. Companies face difficulties recruiting highly skilled individuals despite offering attractive salaries and benefits.
Q.What factors are contributing to the increased demand for IT professionals in Vietnam?
What factors are contributing to the increased demand for IT professionals in Vietnam?
Vietnam is attracting IT companies from other countries, and there's a strong wave of creative startups and digital transformation in traditional sectors. The Russia-Ukraine crisis has also shifted IT orders to Vietnam.
Q.Which specific industries are seeing the highest recruitment for IT staff, and where are there shortages?
Which specific industries are seeing the highest recruitment for IT staff, and where are there shortages?
The top recruitment industries are NFT/blockchain, high tech (AI), and fintech. There is a significant shortage of IT candidates in the banking and financial sector, e-commerce, medical services, and education.
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