3 months ago -

Tackling the talent shortage in Manufacturing under IR 4.0

Tackling the talent shortage in Manufacturing under IR 4.0
  1. On Wednesday, 23th February 2022, ManpowerGroup Vietnam and AmCham Hanoi jointly hosted the webinar “Tackling the talent shortage in Manufacturing under IR 4.0”. The event was aimed at discussing the future of manufacturing under digital transformation and sustainable solutions for manufacturers to overcome recruitment difficulties. Especially, the audiences received the valuable sharing on holistic talent acquisition and development strategies from Gentherm – a thermal management technologies company listed in the Fortune's 100 Fastest Growing Companies. The event saw the participation of nearly 50 business leaders and executives in recruitment, human resources and talent acquisition working in various industries.

  2. Ms. Nguyen Thu Trang, Country Head of Permanent Recruitment & Executive Search, ManpowerGroup Vietnam kicked-off the discussion by talking about the main forces that impact the future world of work, including the rising tech acceleration. According to The Future Factory white paper by ManpowerGroup, new roles are born while many others are disappearing as global manufacturing transitioning to become fully digital. In contrast with the industry growth outlook, global manufacturers including those in Vietnam are facing challenges in hiring the needed talent for growth. According to a survey by ManpowerGroup Vietnam and ILSSA (under MOLISA), over 1 in 5 employers report difficulties in recruitment due to various reasons. Among which, skills scarcity receives the greatest concern with 70% of the surveyed employers share that candidates fail to meet technical skill requirements. “To win in the digital age, an effective talent strategy should have four parts: Build, Buy, Borrow and Bridge. Build your talent pipeline, buy skills where necessary, borrow from external talent sources and bridge people with adjacent skills from one role to another to complement existing skills,” Ms. Trang said.

  3. Ms. Tran Thi Thanh Huong, HR Manager at Gentherm Vietnam shared the current practices of talent sourcing, development and retention strategies since the company entered Vietnam in 2014. While utilizing all sourcing channels, from building a database of their candidates to identify and create other potential talent pools such as partnerships with universities, Gentherm Vietnam has put a strong focus on learning and development programs for employees. “We apply the 70-20-10 model for talent development. 70% is played by on-the-job training, 20% is informal learning such as TWI - Training within the industry, and 10% is formal training like skill training matrix.” In talent retention, Ms. Huong shared the diverse tools applied by the company, including a communication system to staff a tall levels, employee belonging programs and especially the Korn Ferry Hay job evaluation method.

  4. During the Q&A session, the two honored speakers together with Mr. Nguyen Xuan Son – Operation Manager, Staffing & Outsourcing services, ManpowerGroup Vietnam discussed further the acute skills shortage in Vietnam and what employers can do. “Digital transformation is only at the early stage and with the ongoing pandemic, recruitment difficulty to find new skills and new talent will be continuing in the next 3 – 5 years. Companies should be ready and be proactive in preparation, particularly to improve workers’ skills with training and development plan”, added Ms. Trang.