Vietnam needs to decode ‘new way of work’ as career stereotypes collapse: expert

Vietnamese companies have to adapt to new work methods because factors and trends that have been successful in the past will no longer guarantee success in the future, says Puneet Swani, former senior partner at Mercer.

He said Southeast Asia is one of the most dynamic labor markets in the world and a region undergoing rapid transformation in new work methods.

In a presentation titled, “SEA's evolving workforce: Decoding the new way of work”, Swani identifies six trends that are currently shaping new work practices.

Reflecting on these help business leaders create a work environment that fosters employee creativity, he told an event named The Makeover 2024 that was organized by Talentnet in Ho Chi Minh City Tuesday and Wednesday.

Firstly, artificial intelligence (AI) will create job opportunities, not reduce them. By 2025, AI will eliminate 85 million jobs, but generate 97 million new ones. The workforce will need to adapt to effectively use AI by combining technological skills with creative thinking abilities.

Secondly, many organizations are shifting from requiring degrees to focusing on hiring based on skills. Companies recognize that individuals with the right skills can make immediate contributions without needing traditional academic qualifications.

Thirdly, DEI (diversity, equity, and inclusion) is becoming a core work approach. Companies are increasingly integrating DEI into the entire organization, from business objectives to daily operations and organizational culture, fostering inclusivity and sustainable development.

Fourthly, conflict resolution among employees is a new essential skill for managers. With geopolitical tensions, strikes, climate change, and generational workforce conflicts, the workplace faces numerous hidden risks driving increased conflict. Managers must be equipped with effective conflict resolution skills to maintain workplace harmony.

Fifthly, the four-day workweek is becoming a common trend. Many organizations recognize the “pull” of a four-day workweek in retaining employees. This not only enhances engagement and productivity but also allows workers to balance their professional and personal lives.

Last but not least, career stereotypes are collapsing as the workforce evolves. Many employees are seeking non-traditional work models, shifting careers, or pursuing freelance (gig) work. Organizations need to adapt by offering job flexibility, breaking the linear career mold, and providing cross-training opportunities in various fields.

Four Bs – build, buy, borrow and bridge

Nguyen Tam Trang, vice chairwoman and general director of human resources and workplace services with Greenfeed Group, said at the event that her firm has adopted a Four Bs talent management strategy – with the letter standing for build, buy, borrow and bridge.

“The first B means developing current talented employees. The second means recruiting new talented people. The third is borrowing talents across industries. The fourth is optimizing and creating opportunities for low-capacity human resource groups,” she said.

Referring to the ESG factors – environmental, social and governance – that are said to determine an enterprise’s sustainability, she said the 'S' factor, which is related to people and society, was the biggest challenge.

This was because it was not easy to identify specific actions to take or to measure their effectiveness clearly and comprehensively, Trang said.

“When the HR department presents it strategy to higherups, the rationale should be how proposed initiatives will drive profit and revenue for the company, demonstrating that the department's actions are an investment rather than a cost,” she added.

Nguyen Thi Xuan Huong, human resources director of AkzoNobel Vietnam, emphasized the importance of proactive human resources management.

“For instance, when a factory needs to recruit female employees but faces challenges due to a lack of applications, the recruitment department must be flexible. This might involve visiting the factory or making adjustments to attract female candidates in order to meet KPIs. It’s crucial that the factory is not left without sufficient workers,” she said.