Banks Hunt For Highly Skilled Workforce

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Finance and banking will be ranked first in the list of ten industries with highest recruitment demand this year thanks to the development of many new services.

After Tet, many banks have posted a series of positions at many branches across the country. Foreign banks such as Shinhan Bank, Citibank are looking for many individual customer positions, credit appraisal, debt recovery, etc. Regarding domestic banks, Vietnam International Joint Stock Commercial Bank (VIB), for example, recruited more than 500 positions in Hanoi, HCM City and 30 provinces where VIB has branches, serving the need to expand operations and promote growth.

VietnamWorks forecasted that finance and banking industry would continue to lead the top ten with the highest recruitment demand this year. The report noted that by 2018, the recruitment demand of banks and financial institutions increased by 24 percent, however the number of applicants (or labour supply) increased by only 12 percent. According to the International Labour Organisation (ILO), 26.6 percent of credit institutions stated that they were lack of labour necessary for their current vacancies.

Experts said that the labour market in the banking sector would change in the direction of reducing tellers and increasing high quality human resources, good at both professional and information technology skills.

Thanh NguyenCEO of Anphabe Recruitment Consulting Company said the labour market in the banking sector had been vibrant in recent years, thanks to the strong and diverse development of various financial types and services.

“The finance and banking sector is dynamic, leading to the dynamic movement of human resources in the industry. Noting that many non-finance and banking personnel also participate in the industry,” said Thanh.

The need of development requires that the personnel in banking industry must have a high level of expertise, a good knowledge of financial technology and customer care skills. In turn, many financial institutions offer attractive welfare, remuneration policy and salary increase. Therefore, applicants receive more benefits than just salaries and bonusestwo crucial factors when choosing a workplace.

Thanh Nguyen said that the financial and banking recruiters promised many high benefits besides attractive bonuses, which are promotion opportunities, modern corporate culture, open operation strategies, creative working environment, etc.

The creative environment is focused not only on attracting talented people, but also contributing to improving the quality of work and increasing the workforce loyalty. Thereby it enhances the efficiency of operation and business.

Creative environment”key” to attract talent

One of the typical banks building creative working environment is VIB. This bank has just been voted the most creative workplace in Vietnam by International Finance magazine in 2018. Prior to Lunar New Year 2019, VIB also attracted attention as a Vietnamese bank with highest employee salary, up to nearly 100 million dong per month.

Tran Tuan MinhHR director of VIB, said that thanks to the promotion of a democratic working environment, a modern comfortable working place, building the learning culture and developing comprehensive benefit model, the bank attracted high quality and long-term employees.

VIB representatives shared a number of methods to create an attractive working environment for banking personnel. First of all, the bank promotes transparency in information exchange, creating a smooth coordination in the organisation. The mechanism of flexibly empowering each level of management on the basis of clear regulatory policies also helps workers to be more proactive in decision-making.

Next, VIB focused on investing in improving working conditions in a comfortable and modern way. Office with airy design, bright colours, space to rest, free drinks to meet the energy regeneration needs of employees. In addition, the bank promoted a learning culture through many training courses on technology, capacity for analysis, decision-making, adaptation ability and advanced EQ training courses. These conditions helped VIB attract and retain more than 5,500 employees in 162 branches and transaction offices nationwide.

On the other hand, this comprehensive welfare model is also the growth motivation of VIB. According to the 2018 financial report, the bank recorded a profit before tax of over 2.7 trillion dong, an increase of 95 percent compared to 2017 and 37 percent higher than the annual plan. This is the second year in a row that VIB’s profit has doubled, making this bank’s profit increase four times in the last two years.

According to the ILO forecast, by 2030, the total number of employees in the finance and banking sector will be up to 300,000. Moreover, 61.46 percent of credit institutions are expected to continue recruiting more workers in the near future, mainly high-skilled candidates.


Category: Finance, Vietnam

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