{"id":15991,"date":"2023-12-04T16:26:34","date_gmt":"2023-12-04T09:26:34","guid":{"rendered":"https:\/\/phanmemnhansu.com\/?p=15991"},"modified":"2023-12-04T16:26:34","modified_gmt":"2023-12-04T09:26:34","slug":"cntt-lan-song-cat-giam-nhan-su-the-gioi","status":"publish","type":"post","link":"https:\/\/phanmemnhansu.com\/en\/cntt-lan-song-cat-giam-nhan-su-the-gioi\/","title":{"rendered":"What can Vietnam's information technology market learn from the world's wave of personnel cuts?"},"content":{"rendered":"

If 2020 - 2021 is considered the peak of the information technology industry with the transition of many types of services from offline to online and the market transition to a new form is taking place very smoothly due to Due to the impact of the epidemic situation, in 2022, the situation will be completely different. A series of big names in the IT industry announced layoffs. The situation becomes even worse when businesses that were once praised as having dream remuneration policies, Google, Amazon, Facebook... also had to cut thousands to tens of thousands of employees.\u00a0<\/span><\/p>\n

The impact of the wave of personnel cuts on businesses<\/strong><\/span><\/h1>\n
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That wave of cuts not only took place in the US but spread globally and also strongly affected economies in Southeast Asia when many offices closed, many companies reduced production and development activities. market development. In 2022, many technology companies in Southeast Asia will begin to tighten their budgets by temporarily suspending recruitment and drastically cutting staff. Especially in Singapore, Indonesia or Malaysia. Companies such as See Ltd (Shopeee's parent company), Grab Company, virtual currency exchange Crypto.com, and Malaysian technology unicorn Carsome, the car sales trading platform, all stopped\/decelerated recruitment. and lay off thousands of employees in 2022.<\/span><\/p>\n

And the wave of layoffs is getting stronger in 2023, when right at the beginning of the year, a series of companies announced staff reductions with numbers ranging from several hundred to several thousand, even tens of thousands of employees. And many companies clearly announced that this is just the beginning, they need to restructure costs, and focus resources on top priorities for both 2023 and 2024.\u00a0<\/span><\/p>\n

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<\/span> The impact of the wave of personnel cuts on businesses<\/span><\/figcaption><\/figure>\n

The reason why the "job paradise" - the information technology industry has to "painfully" cut its meat, while just over a year ago the thirst for human resources in the information technology industry has become worse. hotter than ever. Experts of\u00a0Group 101 Human Resource Management<\/strong>\u00a0identify:<\/span><\/p>\n

First of all, it is the general situation in the market\u00a0<\/b>When the world economy is strongly affected by epidemics, wars, energy shortages, rising interest rates, etc., all of which cause costs to skyrocket, profits to decline, and even revenues that are not enough to cover expenses. . Meanwhile, the global economic outlook continues to deteriorate.<\/span><\/p>\n

Second is the overheating development of the information technology industry<\/strong>\u00a0during a widespread pandemic from 2018 to 2021. Demand for online products skyrocketed following lockdown and working from home. And when the epidemic is controlled, people gradually return to normal life with pre-pandemic habits. Rising interest rates further squeeze the cash flow that technology companies are relying on to create future breakthroughs. According to CNN, if 2022 is considered the year that the prosperous period of technology companies ends, 2023 could become the year that things get worse.<\/span><\/p>\n

See more specialized human resource management solutions for the IT industry here\u00a0<\/a><\/em><\/span><\/p>\n

In Vietnam, up to this point it seems that this wave has not greatly affected the Vietnamese technology market both in 2022 and 2023. In fact, there are already a number of foreign technology businesses operating. Operations in Vietnam have carried out mass layoffs of employees according to the parent company's decision to preserve business investment capital. However, technology experts and businesses believe that human resources in this industry in Vietnam still have many opportunities to develop as domestic and world technology companies increasingly shift investment and recruit personnel to Vietnam. South, where there are quality human resources and salaries that are only \u2159 of the salaries in Silicon Valley.<\/span><\/p>\n

In addition, investment capital in the IT field will also increase rapidly in 2021 and 2022. Many large Vietnamese enterprises such as FPT, CMC, TMA Solution are still increasing recruitment in domestic and foreign markets. . The number of startups in the technology sector is also increasing rapidly, and the number of investment funds pouring into Vietnam in 2022 has reached nearly 200 funds. Many large companies and large technology corporations are also committed to future development in Vietnam, for example Samsung inaugurated the largest R&D Center in Southeast Asia in Hanoi with a total investment of 220 million USD. la. All of these things have increased the demand for information technology human resources in Vietnam's labor market. And the fact that the world's technology corporations are having difficulty laying off many employees will cause more disadvantages in recruiting personnel because to optimize costs, corporations will shift more recruitment to low-cost markets such as India and Vietnam.\u00a0<\/span><\/p>\n

Lessons learned for IT businesses and human resources workers<\/strong><\/span><\/h1>\n

So what will IT businesses and human resources workers in particular learn from this story:<\/span><\/p>\n

1. Pay attention to the market flow of human resource needs<\/strong>, remote work jobs with attractive salaries will attract Vietnamese talents and those are also the talents that any technology company wants to retain.\u00a0<\/span><\/p>\n

2.<\/strong>\u00a0Understand your needs clearly<\/strong>\u00a0of technology engineers about their desire to update, learn, advance, have a flexible, stable working environment, and satisfactory remuneration. Once you clearly understand your human resources, businesses and especially the HR department need to consider implementing:<\/span><\/p>\n