Employees experienced in blockchain in short supply

Latest Navigos report identifies major shortage of candidates familiar with blockchain technology.

There is a shortage of local employees experienced in blockchain technology, according to the latest report from the Navigos Group on recruitment demands for senior management in Vietnam in the second quarter of 2018, based on the hiring needs of Navigos Search’s clients.

Blockchain is a new technology that has developed dramatically in Vietnam recently, applied in finance and banking, fintech, logistics, healthcare, and many other areas, and has captured the interest of the government as well as businesses in Vietnam. Working with its clients, Navigos has identified that the current labor market is in considerable need of workers experienced in the technology.

Businesses are therefore willing to recruit engineers in general information technology, who then spend three months studying the technology before implementing product development. Despite their young age and high interest in new technology, however, engineers are still relatively cautious in making the decision to move to this new field.

Due to the difficulties in recruiting local IT engineers, businesses are willing to engage foreign experts (mainly from Russia, Ukraine, and the US), given that there is little difference between salaries paid to Vietnamese candidates and their foreign counterparts (around $2,000 to $3,000 per month). In the second quarter, the northern region also saw rising recruitment demand for IT engineers in banking and finance and fintech. This is mainly explained by the fact that those enterprises want to build a team of internal IT engineers focused on product development in digital technology in the banking and finance industry.

The report also reflected on senior human resources in other sectors. Many textile enterprises have doubled their production scale, causing challenges in filling vacancies. According to Navigos Search, a number of textile and garment enterprises in the northern region doubled the size their plants in the second quarter. Demand for human resources at all levels has therefore been rising notably.

The industry is facing a shortage of workers and many in the north try to attract workers in the south. Regarding managerial positions, recruitment also encounters problems due to high demands on meeting international standards in regard to compliance and discipline, and despite their managerial experience, a great many candidates at this level are not fluent in English, which again is a shortcoming of many Vietnamese mid-level staff, particularly in manufacturing.

Electrical engineers, meanwhile, have many job opportunities in the field of clean energy. Including wind power and solar energy, clean energy, has received considerable investment, primarily in joint ventures between Vietnamese companies and partners from Europe such as Denmark and Germany, which has led to high demand for electrical engineers. Clean energy is still relatively new to Vietnam, so a large number of job vacancies in the sector have not been filled. To tackle this scarcity, businesses accept recruiting experienced electrical engineers who work in thermal or hydroelectric power plants, and then train them. These positions all require professional skills and English proficiency.

Navigos Group is Vietnam’s leading recruitment service provider and owner of VietnamWorks, an online job-search platform, and Navigos Search, providing mid-level and executive search services.

[Source: english.vietnamnet.vn 17th July 2018]