What do foreign companies need for successful talent recruitment?
Despite providing a plethora of attractive career opportunities, many foreign businesses tend to "slip away" when it comes to looking for employees in Vietnam. The core reason is the alienation from the business culture. To familiarize the local market and attract young and qualified human resources, foreign companies need to address the following four fundamental questions
What are the differences in the local recruitment culture?
Each country has a different recruitment culture and the first step for foreign businesses to explore the Vietnamese market is to learn about the specific economic and cultural factors. Enterprises are urged to explore the similarities and differences in Vietnam business culture compared to other markets, thanks to which they can build a suitable recruitment strategy. However, this is quite bewildering for foreign employers as Vietnamese culture is exceptionally diverse with many cultural characteristics, which inevitably impacts the recruitment culture.
A range of foreign companies chooses to cooperate with a reputable recruitment consultant who possesses an in-depth understanding of the local customs and stays ahead of the Vietnam business news, thereby helping them build an effective workplace to attract the right talents.
Are there any labor laws and regulations that need attention?
When it comes to laws and regulations, of course, Vietnam has specific requirements on taxes and legal provisions between business owners and employees. From the central to local levels, there sometimes arise many separate rules and regulations, posing a considerable challenge for foreign businesses wanting to invest in the country.
The less understanding of the recruitment culture, the less likely foreign companies can recruit employees. Moreover, a lack of knowledge about laws and regulations will result in a risk of severe damage. The answer to this question is to find a partner on the ground who can provide thorough advice on institutional and legal issues, helping the foreign firms be transparent with information and operate in accordance with the law.
What is the procedure for setting up a foreign company in Vietnam?
Handling paperwork and administrative procedures have never been a pleasant thing for any business. Still, this is even more challenging for foreign companies having no expertise with the local customs and laws. To best deal with this, businesses should find a qualified HR partner on the ground who knows the business etiquette in Vietnam and has an extensive pool of knowledge to help advise, navigate and deploy, all the way from recruitment procedures to total compensation packages.
What are the critical factors affecting employee engagement?
Working in a foreign company offers both opportunities and challenges for Vietnamese employees. Growth opportunities are undeniable, but enormous challenges also lie ahead, one of which is maximizing capacity in a multicultural environment when collaborating with colleagues from different countries. In addition to each individual's efforts, businesses should also actively foster an open, accessible, and healthy work environment that allows employees to connect easily. This connection acts as a glue keeping employees engaged with the company, not only in terms of work but also mentally and emotionally.
With such fundamental questions and advice, there's no denying that human resources are one of the most critical aspects that foreign businesses need to consider when expanding to Vietnam's market. As a comprehensive, knowledgeable HR service company, Talentnet takes pride in helping foreign companies feel secure when setting a foothold in Vietnam. With long-standing experience accumulated from working with multinational companies and in-depth local knowledge, Talentnet is a reliable HR partner that helps remove all barriers and takes your business to the next stage.