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ManpowerGroup Recommends Actions to Address Vietnam's Future Labor Force Challenges

ManpowerGroup Recommends Actions to Address Vietnam's Future Labor Force Challenges

Developing High-Skill Labor, Education and Training Options, and Managerial Talent Will Enable Long-Term Success

ManpowerGroup the world leader in innovative workforce solutions and the first 100 percent foreign-invested employment services company to receive license to operate in Vietnam, recommends that as the country's emerging economy continues its rapid growth and becomes an increasingly attractive destination for foreign investment, greater emphasis needs to be placed on up-skilling the Vietnamese workforce to meet the needs of diversifying industry sectors.

 

ManpowerGroup has launched a new research paper, titled "Building a High-Skilled Economy: The New Vietnam," which gives recommendations for how Vietnamese businesses can take a more active role in workforce development collaborate more effectively with schools and colleges to tackle weaknesses in the country's education system focus on career development and better work environments and be more proactive in anticipating and addressing likely skills shortages.

Companies positively endorse Vietnam's potential, with approximately seven out of 10 employers surveyed by ManpowerGroup/TNS saying they would recommend the nation as a business location. Survey respondents also ranked Vietnam's workers in the bottom 10 percent regionally around half rated the labor force fair or poor and one in three said they were unable to find the skills they need. A separate ManpowerGroup/Institute of Labor Studies and Social Studies survey found that around two-fifths of employers in the country reported difficulty filling jobs.

"Around four million Vietnamese nationals live overseas and incentivizing some of them home to harness the skills and experience they have gained from working in other countries will prove valuable for Vietnam's growth. It is a country culturally wired to do global business," said David Arkless, ManpowerGroup President of Corporate and Government Affairs. "With the war for managerial talent heating up, exposure to other markets can help create a more robust executive pipeline of individuals who possess global experience and local knowledge."

"While low-cost, low-skill labor has helped fuel Vietnam's growth, it also presents a major future economic challenge as shifting skills requirements mean there is a pressing need to improve the capabilities of the country's workers," said Linh Nguyen, General Manager, Manpower Vietnam.

Herb Kochan, the executive director of the American Chamber of Commerce (AmCham) in Ho Chi Minh City, reports that a large number of American multinationals have moved their operations from China to Vietnam due to labor arbitrage and the country's favorable business climate.

With the world now having entered the Human Age, where human potential has taken center stage as the driving force behind enterprise and economic growth, a lack of sufficient talent threatens to hamper growth in emerging economies. The ManpowerGroup research paper advises Vietnamese industry to work alongside government and educational institutions to create curriculums that address current and future workforce challenges. Vocational programming can help workers improve technological skills, project management capabilities and their ability to innovate and adapt.

Private enterprise may help add to the more than 200 colleges and universities built in recent years or contribute to teacher training programs. In addition, organizations can better engage their workforces by understanding employees' needs, enhancing development opportunities and clearly communicating the role they have in executing a successful strategy. Executives need to identify skills available versus the skills required, and concentrate on building those skills most in demand.

"Vietnam's labor force is short on technical skills, foreign language proficiency and management capabilities. With the right focus on up-skilling the workforce, Vietnam can take advantage of its young, industrious workforce that has enormous potential and an economic climate ripe for entrepreneurship," said Darryl Green, ManpowerGroup President, Asia Pacific and Middle East.

Arkless today attended a Vietnam Bureau of Employment workshop in Hanoi titled, "Sharing Experience in Labor Sub-Leasing in Vietnam," where he discussed how to create employment, develop labor markets and respond to shifting skill needs in the process of international integration of Vietnam.

ManpowerGroup's historic partnership with the Vietnamese government, reached in 2008, allows the company to forecast labor market needs and develop local talent, contributing significantly to the country's continued regional development. ManpowerGroup also leverages its unmatched global footprint and local expertise to help foreign companies enter the Vietnamese market.

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