The world of work is evolving faster than ever before. Companies are looking for new ways to find and recruit talent, while AI and machines are taking over many jobs. For fresh graduates or aspiring workers, does this mean that the job market is shrinking?
Perceptions versus Reality
Technology was one of the first sectors to see massive layoffs and now all other industries are affected. 2023 also witnessed the lowest unemployment rate in both developed and developing countries in many years. Therefore, people, including fresh graduates with international degrees, are convinced that getting a good job is harder and tougher.
However, the talent war in the market is still on the rise, as shared by Ms. Phuong Le, Nationwide Sales Manager, at British Council Vietnam’s annual meeting with UK education agents on November 24, 2023.
According to ManpowerGroup Employment Outlook Survey Q3 2023, UK talent scarcity has grown to a 17-year high with 80% of organizations struggling to find skilled talent, higher than the global average (77%). Strong hiring intentions are reported across all UK regions, with West Midlands, East Midlands, Yorkshire & Humberside, Northeast, and London topping the list.
Despite the slow economic recovery after the global crisis, Vietnam also has a growing demand for white-collar workers, as reported by ManpowerGroup Vietnam. However, there is a mismatch between the employers’ demands and jobseekers’ preferences.
Master your skills!
As skill is now considered the “new currency” in the labor market, it’s crucial that jobseekers continuously upgrade their technical and soft skills. Foreign languages remain one of the most essential skills required by employers in the globalized world. “Currently, English is a mandatory requirement for all entry-level roles at ManpowerGroup Vietnam,” said Ms. Phuong Le.
![Ms. Phuong Le manpowergroup vietnam shared top in-demand soft skills reliability self discipline creativity originality critical thinking analysis reasoning problem solving resilience adaptability skills]](https://image-assets.manpower.volcanic.cloud/api/v1/assets/images/293569901cedfd797b36d9e33c9f67c1)
Son, a representative of VietPro - a community of Vietnamese professionals in the UK - said that having international English certificates is not everything one needs when preparing to study or work abroad. “However, to be able to communicate effectively in daily life and to get your ideas across at work, you need to really understand the culture and the style of communicating in a native way,” he shared.
Besides, ManpowerGroup has defined the top 5 in-demand soft skills of workers, including creativity, critical thinking, and adaptability.
