Vietnam Labor Market 2023 - Latest Labor Law, Hiring Locals and Foreigners, Salary, and Expectations

Presenter(s):

• 

  Filippo Bortoletti , Alumna

  Director, Vietnam
  

The hiring season in Vietnam traditionally peaks after the Vietnamese Lunar New Year, with high turnover in February and March. Firms can prepare for this season by being well-informed about the recruiting landscape in Vietnam.

Filippo Bortoletti, Country Director of Dezan Shira & Associates Vietnam, and our guest speaker Ivan Loo, Associate Director of Talentvis Vietnam, provide an overview of:

• Vietnam’s labor law basics
• Distinctions in labor law between local and foreign employees
• Overview of the local labor force and qualifications
• Salary expectations for skilled labor
• Additional benefits to increase employee retention

Vietnam has a dynamic labor market with a predominantly young and increasingly well-educated workforce - adding to the country's attractiveness for foreign direct investment. Despite the abundance of labor, it is still important to note that the labor market in Vietnam clearly leans towards the interests of employees. This requires employers to mind several distinct realities, such as shorter probation periods prevailing in the market, numerous unwritten benefits that employees expect, as well as the fierce competition for talent. The expectations of Gen Z additionally challenge companies with traditional organizational structures.

Finally, the growing trend of foreign experts intending to work in Vietnam has also created additional requirements that foreign firms need to be aware of. 

If you would like to get in touch with us for a free consultation, please do not hesitate to contact vietnam@dezhira.com