Fifty-five percent of students wish to work for foreign-invested companies, making these institutions the top choice of working environment for graduates, according to an annual survey conducted by human resource consulting firm Nhan Viet Management Group.
The one question that this article did not address is WHY? Below are some comments from Vietnamese university students and recent graduates whose opinions I solicited:
Foreign-invested companies may offer better economic incentives: higher wage, promotions
International and professional working environment: more diverse workforce, allowing employees to interact with different people and enrich their cultural understanding
Strict and rigorous working environment with no unfair treatment, bureaucracy or corruption (contrary to most Vietnamese companies)
Professional development opportunities
Fairly competitive atmosphere; a competitive atmosphere in which they MUST learn and develop or else they would be fired
Working for foreign companies may sound “cool” to youngsters, satisfying their self-esteem need; becoming the pride of their family and getting admiration from their friends
Seeing a growing number of friends working in international companies may also create peer pressure that drives more and more graduates to do the same
Interesting and challenging tasks in which they can demonstrate their leadership and managerial capacities, their English abilities and creativity besides specialised knowledge.
I think 55% maybe still an understatement, at least in the scope of my university.
In my mother’s bank, the job is quite tedious and mechanical with no scope for creativity and improvement. Therefore, after a few years, the staff’s English knowledge and soft skills seem to erode.
State-run companies are often notorious for non-transparent recruitment process, regulations, remuneration policies, etc. This knowledge is passed on from previous generations, who often are the youngsters’ parents and relatives, and insiders. Therefore, it may be another reason for graduates to prefer working for foreigners in the belief of a more fair place.
For me personally, I don’t take the issue of whether working for Vietnamese or international companies too seriously; as long as I love the job and am given enough chance to develop and prove myself in a professional working environment.
These are all the reasons why many young people want to work for foreign invested firms. (I myself would like to work for one of those companies, too.:-))
These perceptions bode well for foreign companies but not so well for their Vietnamese counterparts. This is not to say that all Vietnamese companies, be they privately-owned or state-run, conform to these generalizations. There are a growing number of such companies that defy the stereotype. (On a personal note, I’m a satisfied customer of some, including one owned by the military.) Overall, I see this sort of competition as a favorable trend for young Vietnamese, 1.5 million of whom enter the labor market every year, according to the World Bank. In the long-term it will help raise the bar for everyone, including consumers.