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Which opportunity for headhunt industry in Vietnam? (Part 2)

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 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 a dilemma facing Headhunts. It is familiar that candidates change erratically, forget interview time or interview flare. Candidates who demand a higher salary than their real value or the job salary that does not match the candidate's quality is also a matter that requires Headhunt to handle it 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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