Startups a ‘Promised Land’ for New Graduates in Vietnam

November 21, 201710:28 am507 views

Startups in Vietnam could be a ‘promised land’ for students who have just completed their education, recent study reported. Amidst the proliferation of small and medium-sized enterprises (SMEs) in the country, these new businesses will present voluminous employment opportunities in the near future.

The latest survey conducted by Navigos Group revealed that there will be significant growth of employment opportunities at startups in the nearing future. According to the report, 54 percent startup will have demand for recruitment in the next three months, 17 percent within the next three to six months, while another 11 percent will have job openings within the next six to twelve months. Additionally, some startups said they keep their hiring tap open and always in demand for recruitment.

When it comes the job requirement, it seems that talents’ work experience is not a prerequisite to work at startup. 35 percent startups said they only need fresh grads, while 12 percent said they did not pay attention to candidate’s previous work experience, Vietnam Economic Times reports.

Tight budget remained the biggest challenge in recruitment for Vietnamese startups. Almost half of the startups surveyed (49 percent) said that limited salary budget often prevents them from attracting the best and suitable candidates. This challenge is most likely owing to the fact that most candidates focus on salary and bonuses, rather than the learning and development opportunities at startups.

See: Only 60 Percent Private School Grads Found Full-time Jobs within Six Months: Poll

The survey noted that 18 percent startups face difficulties in terms of experience and processes in recruiting, training, evaluating, and developing employees. Meanwhile, 17 percent employers believe that candidates do not have long-term commitment and lack of enthusiasm towards the company, do not meet professional requirements, as well as do not possess the right culture to work at a startup environment.

From the survey, Navigos acknowledged that Vietnamese startups have not really focused on their human resources department. 64 percent of those surveyed do not have human resources staff in their organisation, with their founders taking on the task and dealing with the recruitment. Only 15 percent believe that small business such as startup needs human resources staff.

Regarding to recruitment channels, while mostly Vietnamese startups use less costly channels including traditional method such as introductions from acquaintances or using Facebook and LinkedIn, the survey found that 38 percent use online recruitment websites. The other 11 percent opt to use headhunting services. This finding demonstrated that Vietnamese startups have begun to pay attention to professional recruitment services to support their hiring process.

Read also: Growing Number of SIM Graduates Opt to Choose Flexible Work

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