HUMAN CAPITAL WILL BE THE KEY TO SUCCESS IN THE DIGITAL ERA IN VIETNAM

Hanoi, November 14th 2017 - ManpowerGroup Vietnam joined hands with the Ministry of Labor - Invalids and Social Affairs and Vietnam Military Telecommunications Group (Viettel) to organize the workshop " Human Resources and Technology in the Digital Era in Vietnam".

 

In implementing Staffing, Outsourcing & Workforce Consulting Services in Vietnam, ManpowerGroup recognizes that businesses are facing a talent shortage since the global recession. On a global scale, according to ManpowerGroup’s annual Talent Shortage Survey 2016/2017, 40% of 42,000 surveyed companies said they had difficulty recruiting since 2007. In facing the Fourth Industrial Revolution (1), ManpowerGroup has introduced the concept of the Human Age in which people have specialized skills and continuously seek to improve their skills will be able to cope with the unexpected consequences of this Revolution.

 

The Fourth Industrial Revolution is now taking place in the Americas, Europe and parts of Asia. The undesired impact of the Fourth Industrial Revolution is the possibility of breaking the labor market. The expected impact is automation can replace manual labor or robots replace people making millions of workers around the world to become unemployed. As this revolution evolves, in the next 15 years the world will have a new face, and businesses have to adapt in order to meet the future requirements.  As a result, the Fourth Industrial Revolution will bring more opportunities for businesses as well as challenge to human beings.

 

In order to catch up with the Fourth Industrial Revolution, organizations need talents specialized in diverse fields.

 

ManpowerGroup’s findings in Talent Shortage Survey (TSS) 2016/2017 on 42,000 enterprises all over the world shows that skilled trade jobs (electricians, carpenters, construction workers, etc.) are the hardest ones to find in five consecutive years. Apart from these jobs, the survey reports top 10 hardest positions to recruit including IT, Sales Representatives, Engineers, Technicians and Drivers, Finance and Accounting Staff, Office Support Staffs, Manufacturing and Production Operation. Especially in the IT sector, participating enterprises report they face the most serious talent shortage for many years, rising from # 9 position to # 2 position in 2016.

 

In South East Asia,nearly half of the businesses joining the TSS (46%) said they had difficulty in recruiting talent2016 is considered as the most difficult year for recruitment in the last 11 years. In Vietnam, senior level positions are reported the most serious shortage, partly due to the "brain drain" as the number of Vietnamese employees working overseas in 2015 increased by 8% versus that of 2014.

 

Another finding from ManpowerGroup’s research A Skills Revolution (2) shows that the Fourth Industrial Revolution has a significant impact on human beings as technology and automation are expected to replace people in the future. For example, nowadays, automation can replace up to 45% activities within jobs. The most affected sectors by technology and automation are IT (26%), Human Resources (20%) and Customer Service (15%). Especially in the retail sector, 47% of activities that salespeople perform day-to-day could be automated with current technology and that soars up to 86% among the sector’s accountants, bookkeepers and other data processing tasks.

 

However, ManpowerGroup's A Skills Revolution white paper emphasizes that creativity, emotional intelligence and cognitive flexibility and negotiation are skills that will tap human potential and allow people to augment robots, rather than be replaced by them. Therefore, it is the perception of skills that drives success: employees must realize that they need to improve their skills and knowledge in diverse fields to always stay competitive.

 

On the other hand, according to the Talent Shortage Survey 2016/ 2017 from ManpowerGroup, most of companies are ready to deal with talent shortages in many ways such as training and developing existing staff (53%), recruiting outside the talent pool (36%); explore alternative sourcing strategies (28%) such as social media tools, online job boards; provide additional benefits to recruits (27%); pay higher salary packages to recruits (26%); outsource the work (19%) and change existing work models (19%).

 

Apparently, the most effective method is training and developing the current human resources   (53 %). As a result, employees need to be able to learn (learnability), to be adaptive and ready to acquire new skills.

 

The future of work will be affected by the impact of the Fourth Industrial Revolution, but it does not mean automation will totally replace people. Businesses in Vietnam should well prepare for employees in terms of skills and up-to-date technology.  Companies need to change the way they recruit talents, apply digital applications in the recruitment and training. On the other hand, employees have to find ways in order to adapt with changes, keep learning and improving skills.

 

As a leading global workforce expert, ManpowerGroup focuses on helping our clients enhance their career orientation programs, introduce a clear career pathway to employees, emphasize improving employees’ language skills and build upskills projects for staff to ensure their employability and sustainability in era 4.0. At ManpowerGroup, we believe that human potential - not technology - is the key economic differentiator.

 

About ManpowerGroup:

 

ManpowerGroup (NYS E: MAN), the world leader in innovative workforce solutions, creates and delivers high-impact solutions that enable our clients to achieve their business goals and enhance their competitiveness. With nearly 70 years of experience, our $20 billion company creates unique time to value through a comprehensive suite of innovative solutions that help clients win in the Human Age. These solutions cover an entire range of talent-driven needs from recruitment and assessment, training and development, and career management, to outsourcing and workforce consulting.

 

ManpowerGroup maintains the world’s largest and industry-leading network of nearly 3,000 offices in over 80 countries and territories, generating a dynamic mix of an unmatched global footprint with valuable insight and local expertise to meet the needs of our 400,000 clients per year, across all industry sectors, small and medium-sized enterprises, local, multinational and global companies. We connect more than 600,000 people to meaningful work across a wide range of skills and industries every day. The ManpowerGroup suite of solutions is offered through ManpowerGroup® Solutions, Experis®, Manpower ® and Right Management®

In 2016, ManpowerGroup was named one of the World’s Most Ethical Companies for the 7 consecutive years and one of Fortune’s Most Admired Companies, confirming our position as the most trusted and admired brand in the industry.

  

About ManpowerGroup Vietnam:

 

Established in 2008 in Vietnam with two (02) offices in Ho Chi Minh City and Hanoi, ManpowerGroup Vietnam is the first 100% FDI Company in the worforce market providing comprehensive workforce solutions in a variety of areas. We are a strategic partner ofthe Ministry of Labor - Invalids and Social Affairs.

  

We provide comprehensive workforce solutions such as:

·         Talent - Driven Outsourcing, Staffing and Workforce Consulting

·         Contingent and Permanent Staffing Solutions

·         Professional Resourcing and Project Solutions 

·         Talent and Career Management Solutions

Note:

(1) Talent shortage: http://www.manpowergroup.com/wps/wcm/

(2) Skills Revolution http://www.manpowergroup.com/wps/wcm/

 

For further information, please contact:

 

 

Nguyen Dinh Hoang Yen 
Manager
Marketing & PR Department

ManpowerGroup Vietnam

8th Floor, Resco Building
94-96 Nguyen Du Street,
Ben Nghe Ward. District 1
Ho Chi Minh City, Vietnam

 

C: 0903808175

T: +84 28 3911 0950, ext: 142
yen.nguyenhoang@manpower.com.vn
www.manpowergroup.vn