The gap between what employers expect and what employees aspire to has long existed. However, recent trends highlighted in Michael Page Vietnam’s Talent Trends 2024 report show that this divide has become more pronounced, leading to a growing ‘Expectation Gap’.”

The post-pandemic shift

The COVID-19 pandemic triggered a profound shift in how people view work-life balance and personal priorities, leading to significant changes in the talent market.

As a result, job seekers and employees have emerged with renewed confidence in advocating for their preferences. They realised that work, while necessary, is just one facet of a fulfilling life. Employees are more empowered than ever to seek environments aligned with their values and lifestyle choices.

"On the one hand, workers have a growing list of expectations stretching beyond competitive salaries and flexibility. On the other hand, employers face significant pressures in a rapidly evolving business environment, making it harder for both sides to meet in the middle," says May Wah Chan, Regional Director at Michael Page Vietnam.

For employers and hiring managers in Vietnam, understanding and addressing this amplified expectation gap has become crucial for developing effective talent strategies to attract and retain top professionals in an increasingly competitive global talent market.

Vietnam’s talent acquisition landscape presents distinct challenges, influenced by broader regional trends

Recruiting talent in Vietnam has grown more complex, with employers facing a range of challenges that underscore a widening gap between what job seekers expect and what employers offer.

According to our Talent Trends 2024 report, 46% of organisations in Vietnam struggle to find the right talent, while 41% grapple with retaining employees.

These figures are higher than the APAC averages of 40% and 33%, respectively, underscoring the pervasive nature of these challenges across the region. This annual Talent Trends 2024 report reveals that employers face three primary hurdles in their hiring efforts, contributing to the expectation gap:

Identifying individuals who align with the company culture
Matching benefits expectations
Skills shortages

These obstacles highlight the intricate balance employers must strike between competitive compensation, skills-based recruitment, and cultural fit in today's dynamic job market.

To navigate the complexities of this job market effectively, organisations need to consider adopting holistic talent strategies that address immediate hiring needs and long-term talent development strategies.

Interestingly, while matching salary expectations is challenging for most organisations, competitive salaries are no longer the sole deciding factor for job seekers when it comes to accepting a job offer. This further emphasises the multifaceted nature of the expectation gap in recruitment.

In Vietnam, 38% of respondents would turn down a promotion to focus on their wellbeing, down from 48% in 2023.

Flexible work arrangements: Balancing employee preferences and business needs

Flexibility has become a significant point of contention in workplaces across Vietnam, where 36% of respondents now work in a hybrid arrangement, while 46% work in the office full-time.

Flexibility in working arrangements ranks as the second most important factor for job seekers. This trend is mirrored across APAC, emphasising the need for employers to look beyond monetary compensation to attract and retain top talent.

Some 52% of employees are now required to increase their in-office presence as compared to 12 months ago.

Interestingly, our Talent Trends 2024 report uncovers a striking disconnect in how organisations perceive and implement flexibility.

In Vietnam, flexibility ranks eighth in importance for senior managers when job hunting but drops to 17th place when considering retention strategies for their teams.

This disparity highlights a critical gap in understanding the value of workplace flexibility. It suggests that senior management must reassess how workplace flexibility is implemented across all levels of the organisation to ensure equity and effectiveness.

Managing the multigenerational workforce

Adding another layer of complexity to the equation of talent strategies is the need for employers to cater to a multigenerational workforce.

Our Talent Trends 2024 report reveals that work-life balance and competitive salaries are universally prioritised across all age groups. However, subsequent priorities vary significantly.

For instance, employees in their 20s highly value relationship with colleagues and flexibility/hybrid policies, while those in their 50s and above place greater emphasis on management style and employee recognition.

This diversity in preferences underscores the need for organisations to implement multifaceted engagement strategies that can accommodate the distinct priorities of each generation, from Baby Boomers to Generation Z.

The DE&I Disconnect: A call for authentic inclusion

In recent years, Diversity, Equity, and Inclusion (DE&I) initiatives have taken centre stage in discussions about workplace culture. However, our Talent Trends 2024 report reveals a significant expectation gap between intentions and reality.

In Vietnam, 80% of employees believe their workplace lacks inclusivity, higher than the APAC average of 71%. Moreover, 80% of respondents in Vietnam perceive a lack of diversity in senior leadership, higher than the APAC average of 77%.

These statistics highlight an urgent need for organisations to move beyond surface-level DE&I initiatives and foster genuinely inclusive environments. Understanding key trends can help employers address systemic issues like discrimination and bias to create workplaces where all employees feel valued.

One particularly concerning aspect of workplace discrimination highlighted in the report is ageism. In Vietnam, age discrimination topped the list of workplace discrimination, with 55% of affected employees reporting age-related incidents.

AI in the workplace: Transforming the future of work in 2024 and beyond

Artificial Intelligence (AI) is no longer a futuristic concept but a present reality reshaping the workplace. In Vietnam, 36% of employees already use AI in their current roles, slightly lower than the APAC average of 41%.

More significantly, 57% of respondents in Vietnam believe AI will impact their long-term career plans, similar to 60% across APAC.

This data indicates that Vietnam is trailing behind in workplace AI adoption in the region. To keep pace with the regional and global workforce, employees in Vietnam must adapt to this new reality and embrace the opportunities presented by AI.

Moreover, developing clear guidelines for the ethical use of AI technology is crucial to mitigate potential risks and ensure alignment with organisational values and goals in this rapidly evolving business environment.

Talent acquisition strategies for business success

Companies that successfully bridge these expectation gaps can gain a competitive advantage by aligning with the values and aspirations of modern employees.

To address these expectation gaps and create a workplace that attracts and retains top talent, employers and hiring managers could consider the following actionable insights and strategies:

1. Redefine employee retention and acquisition strategies

Move beyond traditional approaches to career growth and employee satisfaction. Develop a deeper understanding of the factors influencing employee retention and acquisition, and adopt a more nuanced, personalised approach that acknowledges each employee's unique needs and aspirations.

2. Enhance employee readiness

Assess and improve your current learning and development programs to adequately prepare your team for evolving roles. Actively discuss AI and its implications for fostering a forward-thinking environment.

3. Adopt radical candour

Foster a culture of transparent and constructive dialogue within your organisation. Encourage leaders and team members to address issues directly and bring concerns to the forefront in a mutually respectful manner.

4. Embrace flexibility with purpose

Implement flexibility in work arrangements that balance business needs with employee preferences. Regularly assess and adjust these policies based on feedback and productivity metrics.

5. Prioritise authentic inclusion

Move beyond surface-level DE&I initiatives to get deeper insights and address systemic issues in your organisation. Foster an environment where all employees feel valued and respected and can contribute their unique perspectives.

6. Invest in AI integration

Provide comprehensive training and support to help employees integrate AI into their workflows effectively. Develop guidelines for the ethical use of AI technology to ensure alignment with organisational values and goals.

The expectation gap presents both challenges and opportunities for employers in Vietnam. By understanding and addressing key trends in the rapidly evolving business environment, needs and aspirations of the modern workforce, organisations can create talent strategies and workplaces that attract top talent, and foster long-term engagement and success.

Understanding global talent landscapes is crucial for developing strategies that attract and retain top professionals in Vietnam and across regions.

As you navigate this new landscape, the ability to bridge the expectation gap will be a crucial differentiator for companies seeking to thrive in an increasingly competitive global market.

Bridge the expectation gap: Get more insights on 2024 talent trends

Discover the latest in workforce trends in our latest Michael Page Vietnam Talent Trends 2024 report: The Expectation Gap. This survey report findings are based on responses from 12,940 job seekers, employees and employers across Asia Pacific.

It covers career insights that talent leaders and hiring professionals need to know to attract and retain talent. Download our report or use our interactive online tool to gain deeper, up-to-date insights into the current talent market.

Simone Wu

Industry reports

Bridging the Expectation Gap: How employers and employees can match their priorities in 2024

The post-pandemic shift

Vietnam’s talent acquisition landscape presents distinct challenges, influenced by broader regional trends

Flexible work arrangements: Balancing employee preferences and business needs

Managing the multigenerational workforce

The DE&I Disconnect: A call for authentic inclusion

AI in the workplace: Transforming the future of work in 2024 and beyond

Talent acquisition strategies for business success

1. Redefine employee retention and acquisition strategies

2. Enhance employee readiness

3. Adopt radical candour

4. Embrace flexibility with purpose

5. Prioritise authentic inclusion

6. Invest in AI integration

Bridge the expectation gap: Get more insights on 2024 talent trends

I need to hire

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Advertise Your Role With Us

Industry reports

Bridging the Expectation Gap: How employers and employees can match their priorities in 2024​

The post-pandemic shift

Vietnam’s talent acquisition landscape presents distinct challenges, influenced by broader regional trends

Flexible work arrangements: Balancing employee preferences and business needs

Managing the multigenerational workforce

The DE&I Disconnect: A call for authentic inclusion

AI in the workplace: Transforming the future of work in 2024 and beyond

Talent acquisition strategies for business success

1. Redefine employee retention and acquisition strategies

2. Enhance employee readiness

3. Adopt radical candour

4. Embrace flexibility with purpose

5. Prioritise authentic inclusion

6. Invest in AI integration

Bridge the expectation gap: Get more insights on 2024 talent trends

I need to hire

Thank you for submitting the form

Advertise Your Role With Us

Bridging the Expectation Gap: How employers and employees can match their priorities in 2024