Headhunting — A fierce underground market

Speaking on the subject of headhunting, a director of a consulting firm shared: “Due to inappropriate benefits and loose human resource management, Vietnam enterprises, especially state-owned companies, easily lose their senior staffs when attacked by headhunter vietnam companies. Not only companies losing their talents but those senior staffs are also the victims of headhunting industry.”

Headhunting — a fierce underground market

Headhunting — A fierce underground market

A Director of a HR consulting firm said: “Headhunting market is still an underground one with many dubious tactics”. Another Director also shared: “It’s nothing good about headhunting service, they temp senior staffs.”

It is noteworthy that this director seems quite happy when being offered a director position of the rival company. “Conquering” key personnel of the rivals, especially senior managers in marketing and sales sector can lead to many business secrets and customers. Even companies specializing in headhunter in vietnam used to the “victims” of headhunting. With doubled salary, company A. “stole” an auditor cum finance advisor of company E.

Normally, key personnel do not get jobs through newspaper advertising. They do not have time to read newspaper and even do not apply. Headhunting firms, especially domestic ones, usually approach “those stars” through personal relationships. Currently, headhunting firms’ service fees are about 150–200% salaries of candidates. This service offers guarantee, the length of guarantee time is 2–3 probation time in new company.

A Director who has changed jobs many times said: “Although they know they are having good jobs, they check information regularly. Once they send their records, they will be stored and updated. Even 2 years later, headhunting firms still contact.”

In the other hand…

However, headhunters in vietnam service is necessary for those who want to challenge themselves in new industries. Currently, benefits based on working years is not popular in Vietnam, so it is hard to create loyalty. Companies losing their staffs should review their benefits and do not put the blame on those who dare to quit a stable job to find to a new challenge”. Headhunting firms are able to help those who want to change job thanks to their negotiating skill.

Today, to avoiding loses in terms of business when losing key personnel, multi-national companies make deals with rivals in terms of not using mutual key personnel in a specific time. Many directors of HR consulting firms expect that headhunting industry will develop more and more in the future.