Which Opportunity for Headhunter in Vietnam? (Part 1)
Headhunter is an industry that appeared in Vietnam from the years 95-96 of the last century. However, it is only really hot recently when the demand for recruitment and especially high-level recruitment is increasing strongly. Not many people can distinguish between different types of Headhunts. And what are the opportunities for the Headhunt industry in Vietnam? Let’s find out.
The Vietnamese market is considered to be a potential market for Headhunter companies. That is reflected in recent statistics as there are over 500 companies in the South. Companies are divided by service so that they can easily focus on customers, and some companies handle multiple services:
Mass recruitment: recruiting large numbers of staff with positions that do not need much experience such as telesales, salesman. The fee is usually a 1-month salary or by the project.
Recruiting executive search: recruiting positions requiring high experience from senior or at least has experience. The fee for this service is relatively high: from 2 months salary or more and may be higher.
Staffing: in charge of recruiting and paying salaries for candidates, in charge of related papers.
Headhunt companies can also divide multiple teams in charge of different industries or a company specializing in only one industry:
Production sector: quite potential when factories and industrial parks in our country are more and more abundant, especially industrial zones and factories with foreign investment. The Covid19 epidemic has also changed a lot for the human resources industry of our country’s manufacturing sector when large factories moved from China to Vietnam.
Block FMCG (FMCG companies): The characteristic of this sector is that it is recruiting steadily over the years, stable and neither increases nor decreases.
IT sector: Vietnam is gradually becoming a technology center in the region and the world, so it is also a “fertile land” for companies in the IT field to develop. The feature of this field is that companies can be based in the country or can hire staff to work remotely, creating more opportunities for Headhunt.
Hospitality sector: Develop as well as IT segment and predict it will explode soon. However, it takes time to recover after being interrupted by the Covid 19 pandemic.
1. Representatives Of Headhunter Vietnam Market
Headhunt Vietnam market has 3 main groups of representatives divided according to the following scales:
Foreign companies with large scale: these are often longtime companies in the industry and have a global scale with many branches all over the world, including Vietnam.
With a wide network and a strong workforce, these companies can cater to all professions with teams dedicated to taking care of each particular segment.
Foreign companies, small but focused: These companies are not too large, but they focus on a certain industry with strict selection criteria to build their image next to large companies.
Vietnamese companies: operating in the industry for a long time also contribute to the excitement of the Headhunt Vietnam market when competing with foreign enterprises and also having certain successes.
There are also Agency startups that are booming and creating a lot of buzz in the market.
2. How Can A Headhunter Achieve Success?
Every headhunter seems to have to make sure they have good communication skills with the following 4 groups of people: the host organization, client businesses, technology, and high-level prospects. To succeed in their position, headhunters must thus develop the abilities necessary for the aforementioned interactions and be effective in using those talents.
2.1 Competent With Technology
Technology is unquestionably important to headhunters. They connect with a variety of applicants via technology. The following tasks will be improved by headhunters through the use of technology:
Unlimited connections, maintenance of the applicant database
selecting candidates automatically to save down on manual work
Engage more diverse candidates in conversation
swiftly receive and deliver information
Maximize market intelligence
2.2 Combination Of Knowledge: Finding, Evaluating, And Choosing Information
Connecting to a massive network of applicant databases is a typical aspect of the headhunter profession. Therefore, headhunters must be well-versed in data and information searching, selection, and analysis in order to uncover individuals who are most suitable for employers. Headhunters must simultaneously get an evaluation and compare the data to prevent providing unqualified counsel that is unsupported by facts or unreasonable given the labor market and the client's sector.
2.3 Extensive Knowledge Of The Market
A thorough awareness of the market is the next key to becoming a great headhunter. In contrast to those who work in direct sales, marketing, or customer service, headhunters seldom ever conduct market research and interact with clients. As a result, headhunters who lack in-depth market expertise will be "lagging" behind for both employers and prospects.
So what does market knowledge consist of? It is challenging to restrict the extent of market information. The following great market knowledge is connected, though:
Knowledge of the labor market in its whole or of one or more specific business segments
Knowledge of supply and demand in the labor market
Features of each region's labor market
Advantages and difficulties for workers when hunting for work
Challenges with recruiting
Opportunities in Vietnam to develop careers and fields
Industry recruiting and labor trends
2.4 Knowledge Of All Disciplines And Industries
Both recruiters and headhunters do the same function. The challenge for a headhunter, though, is finding candidates for every organization in any industry that needs to employ talent, not just one company or a narrow field. Therefore, having a thorough awareness of various sectors and businesses is necessary for headhunters to effectively evaluate prospects, connect with them, and hire them. Furthermore, headhunters specialize in recruiting senior-level employees and are experts in their field. In conclusion, headhunter professionals need to build expertise in all areas to be more professional if they wish to search "heads of people" and avoid "dancing the ax through the workers" eyes.
2.5 Skills In Communication
An essential component of the headhunter career is communication ability. Effective communicators can connect vast volumes of information and transform it into knowledge that recruiters or potential candidates can use. Recruiting, locating prospects, and offering recruitment services to organizations in need are all things that a headhunter does as an intermediary. As a result, the headhunter will speak with both candidates and business owners in at least one business order. Without effective communication abilities, a headhunter will have a difficult time progressing in their career.
The ability to employ clever language and information-exchange techniques to make the most of every discussion are essential for a headhunter. To connect more effectively, headhunters must also be aware of their clients' psychological tendencies.
The following characteristics show how well the headhunter communicates:
Using appropriate language
Speaking clearly and intonally
Each diverse audience is appropriate for the speaking style.
Having the ability to offer a tale to each communicator
Don't let the plot come to an end.
The goal of communication should always be made clear, and it should continue throughout the dialogue.
2.6 Targeting And Persuasion Skills In Psychology
The headhunter also has to have a psychologist's understanding of human psychology in order to succeed in this line of work.
In truth, headhunters may accomplish the goal of communication relatively easily provided they have the capacity to understand the psychology of their opponents. The essential prerequisite for convincing a candidate is having a basic understanding of psychology. This knowledge enables the headhunter to understand the prospect's desires, fears, and challenges.
Not only that, but having a solid psychological understanding also means having a strong persuasive style, which serves as a "tool" for the headhunter when they conduct interviews and persuade prospects to accept jobs.
2.7 Negotiating Techniques
The ability to negotiate is crucial for hiring, but headhunters require it even more. A headhunter just seeks for senior-level opportunities. Finding senior workers will be more harder than finding basic staff, and this will take expert bargaining abilities.
2.8 Customer Service Abilities
Finding candidates is only one aspect of recruiting. Headhunters must handle the client as a competent member of the customer service team in order to achieve positive outcomes.
Customer service job at Headhunter is divided into two primary phases:
Prior to sharing candidate information with the company, headhunters share information, provide applicants advice, encourage them to accept jobs, and look after them. They must also care for future applicants or those who are still unsure about their roles. The best job will be tried at such a time by the headhunter specialists to create a "need for work".
Headhunters must maintain contact with candidates for at least a one-month probationary period after giving their information to the company. The headhunter will now need to actively enquire about the position and discover the reason the applicant plans to quit in order to promptly address the issue for the business. This relates to the headhunter service's warranty and customer care policies.