vietnam aec report_enworld

Report prepared by en world group/Navigos Search

Impact on business in Thailand,Singapore and Vietnam

AEC and manager mobility:

Methodology

Contents

Page 3

Page 4

Page 6

Major findings

en world/Navigos Search recommendationsfor corporations and job seekers

Page 8Regional comparison

Further highlightsPage 15

Page 17

Page 18

Conclusion

Message from en world/Navigos Search

Page 19Contact

AEC and manager mobility 2

Methodology

When the survey was conducted:

Survey respondents:Managers and Directors

from MNCs

Numbers of respondents:

Survey locations:

OCTOBER

2015

of respondents in Singapore, Thailand and Vietnamhad at least 10 years of work experience.

VietnamSingaporeThailand

44%


1,605

Vietnam

Singapore

Thailand

Major findings

respondents in Thailand respondents in Vietnam

67%

SINGAPORE

chose Singapore as their workplace of choice within the AEC.

71%


Cambodia, Laos and the Philippines were the least popular work locations in the AEC with only 1-3% of respondents choosing them.

CambodiaPhillipines

Laos

The biggest downside for Singaporean respondents to travel and work in ASEAN countries was the low economicdevelopment in comparison withSingapore. Personal/family matters were one of the key causes that prevented Thai and Vietnamese respondents fromtraveling to work in other ASEAN countries.

According to respondents in Singapore, experiencing different cultures was more important than career developmentopportunities. Respondents in bothVietnam and Thailand cared more about jobopportunities, including careerdevelopment opportunities and better remuneration.

Singaporean and Thai respondents were more likely to actively ask a domestic recruitment agency to help find a job in their chosen country or a recruitment agency in that country to find a job.Vietnamese respondents said they must continue to improve their English skills and create or update their profiles on social networking sites.

Thai respondents considered themselves hard-working with the ability to workindependently and problem-solving skills. Singaporean respondents said they were better equipped to work abroad, with better English skills, global mindsets and ability to work independently.Vietnamese respondents said they were hard-working and had the ability to learn and adapt quickly to change


How to deal with the “Brain drain” issue:To retain talented employees, enterprises need to invest in hiring the right people, develop their "Employer of Choice" brand and improve the impact of engagement programs

How to deal with scarcity of skilled personnel and shortage of senior managers:• Training and development: different programs are needed to meet different levels of employees’ needs such as leadership training program, on-the-job training program.• Long term employee development programs like high potential developmentprograms are required

How to attract talented personnel from overseas:• Build the “Employer brand”• Build proper salary and incentive programs for the talented candidates• Make sure that enterprises are ready to accept “diversity” in corporate cultures• Make sure that enterprises develop leaders with cultural dexterity to manage a diverse and dispersed workforce

RECOMMENDATIONS FOR CORPORATIONS


Ask a domestic recruitment agency or a recruitment agency in your chosen country to help you find a job. These agencies areprofessional firms that specialize in recruiting candidates forcompanies. By doing so, your application or profile will be widely communicated to recruiters and employers.

Make the best preparations in terms of health, family matters,English skills and functional skills as well as knowledge of relevant laws in your chosen country. This will boost your confidence and prepare you before traveling to work in a foreign country.

Identify your strengths and decide on the industry you want to work in so you are in a position to prepare your application, profile and relevant work experience. This will enable recruitmentagencies to help you find a suitable job faster.

Learn about the labour market in the host country. This will help you understand the country’s recruitment and labour markets.

Need to study foreign worker policies of host countries in depth. This will help you live and work by the laws of these countries.

RECOMMENDATIONS FOR JOB SEEKERS


For Vietnamese candidates, you must have good English skills and regularly update your profile on social networking sites. This may help to better communicate your updated application or profile to both recruitment agencies and companies.

Regionalcomparison


Most attractive work locations in the AECSingapore is hugely popular with Thai and Vietnamese respondents.

Singapore

Vietnam10%

67%

6%Myanmar

Singapore

Thailand9%

71%

7%Malaysia

Thailand

Malaysia15%

31%

12%Vietnam

Thailand Singapore Vietnam


Workplace of choice based onpersonal experience and relationships

Respondents from Singapore and Thailand chose the preferred work location based on:

Vienamese respondents have adifferent approach:

Their companies have officesin that country

They have friendsworking there

Travel experience Media & Socialnetworks

They have friendsworking there

Travel experience


Top 3 reasons to work internationally

Better careerdevelopment opportunities

Thailand Singapore

You can work in aninternational environment

Better jobopportunities

You can experiencea different culture

44% 43%35%

Can experiencea different culture

Fluent Englishis an advantage

Can work in aninternational environment

50%43%

38%

Vietnam

Better remuneration

62%

71%

40%35%


Better careerdevelopmentopportunities

Can work in aninternationalenvironment

Why managers don't want to work in other ASEAN countriesAccording to the survey, although respondents were ready to choose a country to work in,there was still a big gap between their readiness and realisation.

Lack of information on foreign worker policies of host country

Lack of information on policies and laws of host country

Personal / family matters

Low economic development in comparisonwith Singapore




Personal / family matters


57%

51%

49%

58%

52%

47%

55%

51%

42%


How managers evaluate their own strengths

Ability to workindependently

Problemsolving skills

Hardworking English skills Ability to workindependently

Global mindset Ability to learn Ability to adaptto change

Hardworking

Singapore VietnamThailand

By living and working in a developed economy, it seems that Singaporean managers feel more equipped to work on a global stage than their ASEAN peers. Therefore, many

respondents in Singapore said they would like to have more options of working in countries outside of ASEAN such as

Japan, Hong Kong, Australia, New Zealand, China and India.


Approach to AEC mobility


42%

Ask a recruitment agency in the chosen country to help find a job

Ask a domestic recruitment agency to help find a job in the chosen country

Find a job through online recruitment channels in the chosen country

59%

Singapore Vietnam

Contrary to the two countries’ respondents mentioned above, it seems Vietnamese peers are not fully confident about finding a job

in regional countries. Up to 67% and 59% of Vietnameserespondents said they needed to improve their English skills and

create or update their profiles on social networking sites,respectively. This shows a clear disadvantage faced by Vietnamese

candidates in competing with their regional peers.

Find a job through online recruitment channels in the chosen country

Ask a recruitment agency in the chosen country to help find a job

Research the chosencountry including policies for foreign laborers

58%

59%

67%46%

50%

48%

Thailand

69%

Create /updateLinkedIn profiles

Improve English skills

Research the chosencountry including policiesfor foreign laborers

Attitudes to notice period

respondents inThailand chose this option

41%respondents in

Singapore chose this option

38%respondents in

Vietnam chose this option

38%

Respondents in the 3 surveyed countries said that 2 months was a reasonable time to start to work

after accepting a job offer.


Attitudes to global mobility and family commitments

respondents in Thailand

30%respondents in Vietnam

said they would only bring their families to the chosen country

after at least 1 year of work there

respondents in Vietnam

said they would settle in the chosen country if given the opportunity

respondents in Singapore

said they would bring their families to the chosen country as soon as

they found a job

40%respondents in Thailand

68%respondents in Singapore

said they do not intend to settle in the chosen country.

60%41% 48%


Conclusion

1 Within this report, when the ASEAN Economic Community (AEC) is officially established, Singapore is likely to become a country which faces more challenges and opportunities than others because a large number of regional personnel will come.Meanwhile, Cambodia, Laos and Philippines may not be able to attract high quality personnel to help diversify their workforce.

3 Most respondents chose a country to work in based on their own experiences or indirectly through activities related to the compa-nies where they are working, or family and friends living and work-ing in that country. These factors may be the reason they would feel more secure working in that country.

4 Recruitment agencies play a very important role in counseling and helping respondents to find a job in another regional country. By clearly understanding the candidates’ needs, strengths anddisadvantages, recruitment agencies will help them find suitable jobs in a host country.

2 By living and working in a developed economy, Singaporeanrespondents have more strengths than their peers from other ASEAN countries. They have better English skills, global mindsets and the ability to work independently. Many respondents inSingapore said they had more options to work in countries outside of ASEAN such as Japan, Hong Kong, Australia, New Zealand, China and India.

5 Traditional family values are very common in Vietnam and Thailand. This has a direct impact on candidates from the two countries when they want to find better job opportunities in other countries. Family matters could discourage these respondents from traveling to work in other regional countries.

7 Both Thai and Vietnamese respondents care more about taking their families with them to work in a host country. They need time to evaluate the stability of their jobs before deciding to bring their families to join them. Singaporean respondents generally take their families with them to the host country when they accept thejob offers.

8 Both local and international enterprises in Vietnam may face with a “brain drain” of mid-level and senior managers when the AEC isofficially established.

6 Vietnamese respondents are not fully confident about finding jobs in other regional countries due to their English skills. They are not familiar with new approaches to find a new job in the digital age.


Message from Navigos Search

Nguyen Thi Van AnhManaging Director


The survey indicates a profound change in Vietnamese candidates’ awareness of getting ready to experience and challenge themselves if any opportunity is available to them. This change will create both new opportunities and challenges for the local labour market.

Nevertheless, it will be difficult for the candidates to compete in searching jobs in other countries due to the lack of self-confidence in English skills and updated trends in digital job search.

The mid-level and senior Vietnamese managers’ readiness to migrate to work in other regional countries will result in some problems for enterprises operating in the country.

On the one hand, the enterprises will face with the “brain drain”. To deal with this problem, they need to continue investing in their talents retaining programs and future personnel training ones. On the other hand, they will have unprecedentedly big opportunities as they can approach and recruit highly-qualified personnel from other regional countries. This, however, will ask the enterprises a big question: “Whether or not have they been ready?” to accept “diversity” in corporate culture or to have a corporate governance team with proper skills of management over the foreign personnel coming from other regional cultures.

If you have any question in recruiting the right candidates for your mid-level and senior managers, we are here ready to listen to you. Please kindly contact me, via [email protected].

Contact

VIETNAM

en world is a group of recruiting consultancies specialising in professional and managerial roles.Operating from 7 countries, we support global companies’ recruitment needs through our Asia Pacific network.

30 Raffles Place, Unit #13-02 Chevron House,Singapore 048622Phone: +65 6420 0570 Fax: +65 6534 1143Email: [email protected]

JAPAN (Tokyo - Headquarters)

12F Tokyo Square Garden, Kyobashi 3-1-1,Chuo-ku, Tokyo, 104-0031Phone: +81 3 4578 3500 Fax: +81 3 6214 3023Email: [email protected]

AUSTRALIA

Level 1, 1 Chandos Street St Leonards, Sydney,NSW 2065Phone: +61 2 9431 6500 Fax: +61 2 9901 3811Email: [email protected]

INDIA (New Delhi - Headquarters)

1F E-156, Main Road, Kalkaji, New Delhi, 110019Phone: +91 11 4088 8400Email: [email protected]

KOREA

10F Seoul Finance Center, 136 Sejong-Daero,Jung-gu, Seoul 100-768Phone: +82 2 6718 9800 Fax: +82 2 6718 9822Email: [email protected]

THAILAND (Bangkok - Headquarters)

Athenee Tower,12th Floor, Unit 1201-1202, 63 Wireless Road, Lumpini, Pathumwan, Bangkok 10330 ThailandPhone: +66 2 106 8600 Fax: +66 0 2654 0901Email: [email protected]

SINGAPORE


Headquarters in Ho Chi Minh cityFloor 7, Room 702, Sunwah Tower, District 1Phone: +84 8 3925 5000 Fax: +84 8 3925 5111

Office in HanoiAdd: Floor 7, Building V, 125-127 Ba Trieu, Hai Ba Trung DistrictPhone: +84 4 6278 5199 Fax: +84 4 3974 3032Email: [email protected]

vietnam aec report_enworld

Documents