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Which opportunity for headhunt industry in Vietnam?

Headhunt is an industry that appeared in Vietnam from the years 95-96 of the last century. However, it is only really hot recently when the demand for recruitment and especially high-level recruitment is increasing strongly. Not many people can distinguish between different types of Headhunts. And what are the opportunities for the Headhunt industry in Vietnam? Let's find out.

I. An overview of the Headhunt situation in Vietnam

1. General features:

The Vietnamese market is considered to be a potential market for Headhunt companies and that is reflected in recent statistics as there are over 500 companies in the South. Companies are divided by service so that they can easily focus on customers, and some companies handle multiple services:

+ Mass recruitment: recruiting large numbers of staff with positions that do not need much experience such as telesales, salesman. The fee is usually a 1-month salary or by the project.

+ Recruiting executive search: recruiting positions requiring high experience from senior or at least has experience. The fee for this service is relatively high: from 2 months salary or more and maybe higher

+ Staffing: in charge of recruiting and paying salaries for candidates, in charge of related papers

Headhunt industry in Vietnam

Headhunt industry in Vietnam

Headhunt companies can also divide multiple teams in charge of different industries or a company specializing in only one industry:

+ Production sector: quite potential when factories and industrial parks in our country are more and more abundant, especially industrial zones and factories with foreign investment. The Covid19 epidemic has also changed a lot for the human resources industry of our country's manufacturing sector when large factories moved from China to Vietnam.

+ Block FMCG (FMCG companies): The characteristic of this sector is that it is recruiting steadily over the years, stable and neither increases nor decreases.

+ IT sector: Vietnam is gradually becoming a technology center in the region and the world, so it is also a "fertile land" for companies in the IT field to develop. The feature of this field is that companies can be based in the country or can hire staff to work remotely, creating more opportunities for Headhunt.

+ Hospitality sector: Develop as well as IT segment and predict it will explode soon. However, it takes time to recover after being interrupted by the Covid 19 pandemic.

Headhunt Vietnam market

Headhunt Vietnam market

2. Representatives of Headhunt Vietnam market

Headhunt Vietnam market has 3 main groups of representatives divided according to the following scales:

+ Foreign companies with large scale: these are often longtime companies in the industry and have a global scale with many branches all over the world, including Vietnam. With a wide network and a strong workforce, these companies can cater to all professions with teams dedicated to taking care of each particular segment.

+ Foreign companies, small but focused: These companies are not too large, but they focus on a certain industry with strict selection criteria to build their image next to large companies.

+ Vietnamese companies: operating in the industry for a long time also contribute to the excitement of the Headhunt Vietnam market when competing with foreign enterprises and also having certain successes.

+ There are also Agency startups that are booming and creating a lot of buzz in the market.

II. Opportunities and challenges of the Headhunt industry

1. Opportunity

The Vietnamese economy is developing at a tremendous speed and is getting closer to the world. That also requires businesses to strengthen internal strength, and human resources is a key factor. Human resources play a role in determining the success or failure of a business, especially senior personnel. So why do clients need a headhunt when every company has an HR department?

Opportunities of the Headhunt industry

Opportunities of the Headhunt industry

Because the requirements and targets when recruiting superiors are high, the HR department will be difficult to undertake. For example, recruiting Dev who can speak Japanese or use new technologies fluently, requires the employer to have extensive relationships and technology updates. Therefore, a headhunter is the first choice when they work in the recruitment industry and have many relationships so they have an understanding of the general situation.

Besides, senior employees who want to find a job will not apply directly because it will affect their reputation, instead, they will prefer to go through an intermediary to keep personal information confidential (level salary, position, ..).

2. Challenge

Many years ago, when the number of Headhunts on the market was small, finding customers and connecting with candidates was easier. However, with the current situation, when the Headhunt market develops strongly and the number of Headhunts is increasing, the level of competition among Headhunts becomes fierce. The easiest way to compete is to hit on customers' psychology - reducing service costs with many promotions. This is beneficial and attracting customers, but makes it difficult for other Headhunts. Not to mention the dumping will inadvertently bring many consequences for customers such as poor quality candidates, accidentally affecting the image of the headhunt in the customer’s mind.

The current recruitment trend is also mostly finding the right people for the job, not finding the right job for people. Therefore, customers often take the upper hand and decide, which in turn causes a disadvantage for Vietnamese talents. Not to mention that the trend will lose the brightest candidates because they do not match the "taste" of the customer. It is not easy for a Headhunt to balance between customers and candidates, as well as ensuring benefits for both parties.

Challenges of the Headhunt industry

Challenges of the Headhunt industry

That does not take into account customer fraud. Companies ask Headhunt to recruit but "rob" CVs by rejecting candidates and then creating their database or blatantly rather than rejecting Headhunt's candidates and then re-interviewing, receiving the candidate to save money for Headhunt.

Candidates are also in a dilemma facing Headhunts. It is familiar that candidates change erratically, forget the interview time, or interview flare. Candidates who demand a higher salary than their real value or a job salary that does not match the candidate's quality is also a matter that requires Headhunt to handle skillfully. Between candidates and business disagreements, Headhunt's task must stand out to settle both sides. In general, Headhunt is the bridge between businesses and candidates, so all problems that arise are handled by Headhunt.

Source: Internet


JT1 - IT Recruitment Agency


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