Research by CIMA reveals growing talent gap in Vietnam
A rising number of young adults in Vietnam lack the skills that employers need, reflecting a worrying disconnect that is leading to unemployability issues in the country.
In a series of roundtables in Vietnam, industry leaders expressed a wide range of concerns about the capabilities of young workers. The roundtables were organised by the Chartered Institute of Management Accountants (CIMA).
CIMA released the findings today in a new report, Ready for business: Bridging the Employability Gap. The Vietnam perspective. Among its conclusions:
- Most graduates need considerable improvement in the basic practical day-to-day business skills such as communication, problem solving, critical thinking and people management.
- Universities and educational institutes in Vietnam are aware of the need for basic business skills and work placements are increasingly becoming a staple part of undergraduate courses.
- There should be more dialogue between employers and educational institutes as employers can contribute their real-world expertise on what they expect and need, and an educational institution’s syllabus can be developed, modified or refined, to reflect the rapidly evolving business landscape.
The findings reflect a growing global trend, with employers around the world struggling to find qualified workers – even among those with significant academic credentials.
Venkkat Ramanan, Head of CIMA SE Asia commented, “The findings in Vietnam reflect a growing global trend, with employers around the world struggling to find qualified workers even among those with significant academic credentials. CIMA is urgently working with businesses and policy makers to provide companies with effective and innovative solutions. Our Chartered Global Management Accountant (CGMA) designation is based on competencies that employers themselves say they need, ensuring designation holders have market relevant skills and global employability.”
He added, “CIMA regularly works in tandem with businesses across the world, conducting comprehensive research into the role of management accountants, the skills employers expect of them, and how these are changing. This has allowed us to develop our 2015 syllabus and assessment process to address the skills that employers will need.”
By Duc Hong Thi Phan, PhD