HANOI, Vietnam , Dec. 21 2011 /PRNewswire/ -- ManpowerGroup, the world leader in
innovative workforce solutions, has announced that it has entered into a new
three-year partnership with Vietnam 's Ministry of Labour, Invalids and Social
Affairs (MOLISA) to continue developing the local labor market, ensure
competitiveness and respond to new, in-demand skills needs in order to address
Vietnam 's workforce challenges.
At a signing ceremony in Hanoi , David Arkless , ManpowerGroup President of
Corporate and Government Affairs, and Tran Phi Tuoc , Director, International
Cooperation Department, MOLISA, agreed to redouble efforts to accelerate the
efficiency of the Vietnamese labor market. Areas of cooperation will include the
enhancement of frameworks for labor market regulation, further joint research on
labor market trends and initiatives aimed at developing processes for
sustainable labour migration.
" Vietnam is a country with enormous potential and possesses a workforce that
is industrious and eager to improve," said Arkless. "Over the next three years,
ManpowerGroup will continue to leverage its unrivalled suite of solutions —
including skills assessment and job training — to address skills shortages, help
the country achieve its growth potential and make even greater strides in the
future."
This partnership builds on the spirit and accomplishments of the historic
first Memorandum of Understanding (MOU) signed in November 2008 . ManpowerGroup
became the first 100 percent foreign-invested employment services company to
receive an operating license in Vietnam and has now firmly established itself as
the trusted innovative workforce solutions provider in the country.
Last month, ManpowerGroup launched a research paper, titled "Building a
High-Skilled Economy: The New Vietnam," that advises how Vietnamese businesses
can collaborate more effectively with schools and colleges to tackle weaknesses
in the country's education system, improve career development and work
environments, and be more proactive in addressing likely skills shortages in
critical industry sectors.
A joint ManpowerGroup/TNS survey revealed that workforce issues are
restraining Vietnam 's growth. Survey respondents ranked the country's workers
in the bottom 10 percent regionally. Around half rated the labor force fair or
poor and one in three said they were unable to find the skills they need. A
separate ManpowerGroup/Institute of Labor Studies and Social Studies survey
found that around two in five employers in the country reported difficulty
filling jobs.
" Vietnam has an abundant labor force in the agricultural sector and
production line but lacks well-trained labourers," said Linh Nguyen , General
Manager, Manpower Vietnam. "The solution is on-the-job training. Companies must
be willing to exchange short-term costs of training for long-term labor cost
advantage."
Herb Kochan , the executive director of the American Chamber of Commerce
(AmCham) in Ho Chi Minh City , reports that a large number of American
multinational companies have moved their operations from China to Vietnam due to
labor arbitrage and the country's favorable business climate. However, the
country has larger skills gaps than the region's largest economies such as China
and India .
"The low-cost workforce of Vietnam still remains the most appealing factor to
foreign investors," said Darryl Green , ManpowerGroup President, Asia-Pacific
and Middle East . "While this low-skill labor has helped fuel Vietnam 's growth,
it also presents a major future economic challenge due to demand for more modern
skills."
ManpowerGroup's New Vietnam research paper recommends the country's firms
should work more closely with government, schools, colleges and universities to
create curriculums that address current labor market conditions and have the
flexibility to meet new challenges. Companies themselves need to focus on
engaging key talent by listening to their employees' needs, creating more
development opportunities, sharing information about strategy and operations and
repeatedly demonstrating the importance of their products and services.
About ManpowerGroup
ManpowerGroup™ (NYSE: MAN - News), the world leader in innovative workforce solutions,
creates and delivers high-impact solutions that enable our clients to achieve
their business goals and enhance their competitiveness. With over 60 years of
experience, our $22 billion company creates unique time to value through a
comprehensive suite of innovative solutions that help clients win in the Human
Age. These solutions cover an entire range of talent-driven needs from
recruitment and assessment, training and development, and career management, to
outsourcing and workforce consulting. ManpowerGroup maintains the world's
largest and industry-leading network of nearly 3,900 offices in over 80
countries and territories, generating a dynamic mix of an unmatched global
footprint with valuable insight and local expertise to meet the needs of its
400,000 clients per year, across all industry sectors, small and medium-sized
enterprises, local, multinational and global companies. By connecting our deep
understanding of human potential to the ambitions of clients, ManpowerGroup
helps the organizations and individuals we serve achieve more than they imagined
– because their success leads to our success. And by creating these powerful
connections, we create power that drives organizations forward, accelerates
personal success and builds more sustainable communities. We help power the
world of work. The ManpowerGroup suite of solutions is offered through
ManpowerGroup™ Solutions, Manpower®, Experis™ and Right Management®. Learn more
about how the ManpowerGroup can help you win in the Human Age at www.manpowergroup.com.
ManpowerGroup is the most trusted brand in the industry, being the only
company in our industry to be named to the Ethisphere Institute's 2011 World's
Most Ethical Companies list for our proven commitment to ethical business
practices, including an outstanding commitment to ethical leadership, compliance
practices and corporate social responsibility. In addition, ManpowerGroup has
also been recognized as the industry leader by Fortune magazine, who
named the company in first place on its 2011 list of the Most Admired Companies
in the temporary help sector.
In January 2011 , at the World Economic Forum Annual Meeting in Davos,
Switzerland , ManpowerGroup announced the world has entered the Human Age, where
talent has replaced capital as the key competitive differentiator. Learn more
about this new age at www.manpowergroup.com/humanage
Gain access to ManpowerGroup's extensive thought leadership papers, annual
Talent Shortage surveys and the Manpower Employment Outlook Survey, one of the
most trusted indices of employment activity in the world, via the ManpowerGroup
World of Work Insight iPad application. This thought leadership app explores the
challenges faced by employers navigating the changing world of work and provides
in-depth commentary, analysis, insight and advice on strategies for success.
