The People Strategy: Hiring Right and Growing Talent for 2026 Resilience

16/07/2025

The Vietnamese labor market in 2026 is setting new demands for businesses. A recent survey by Navigos Group revealed two striking realities: 68% of mid-level professionals are not openly seeking jobs, and 47% of businesses admit that a wrong key hire costs them at least 100 million VND. These figures are not just warnings about costs and risks; they are clear evidence of the necessity to hire the right people, from the very beginning. Furthermore, we are at a point where businesses need a comprehensive human development strategy, rather than solely focusing on cost-cutting measures.

The Present Challenge: Hidden Talent & The High Cost of Wrong Hires

The fact that 68% of mid-level professionals are not openly seeking jobs reflects a trend where high-caliber candidates often find opportunities through personal networks, referrals, or are actively sought out by professional recruitment firms. This makes reaching them through traditional channels more challenging than ever.
Alongside this, 47% of businesses admitting a minimum loss of 100 million VND from a wrong key hire is a stark testament. This cost extends beyond just re-recruitment or training. It includes losses in productivity, revenue shortfalls, team disruption, and even damage to the company's reputation. Every misguided hiring decision is a mis investment, leading to long-term consequences.

Beyond Cost-Cutting: Building a Sustainable People Strategy

In a volatile economic climate, cost-cutting is understandable. However, without a strategic vision for human capital, cost-reduction measures can lead to greater losses in the long run. People are the core assets, the driving force behind all innovation and growth. It's time for businesses to shift their mindset:

1.Hire the right people, from the start – It's a strategic investment: We believe that investing in a professional recruitment process is key. This includes in-depth job analysis, diversifying search channels (including proactively reaching out to hidden talent via headhunters), and comprehensively assessing both skills and cultural fit. This not only optimizes costs but also ensures the quality of human resources for the future.

2. Develop and retain existing talent – Building a solid foundation: As finding new talent becomes increasingly challenging, investing in the current workforce is crucial.

Upskilling & Reskilling: Provide continuous training programs to ensure employees stay updated with new trends and technologies.
Clear Career Development Paths: Create opportunities for advancement, expanded responsibilities, and help employees envision their future with the company.
A Work Environment that Fosters Engagement and Innovation: Cultivate a culture where individuals are encouraged to learn, contribute, and grow.

3. Build a strong employer brand: A comprehensive human development strategy will help a business become a "magnet" for talent. When current employees are satisfied, engaged, and developed, they become the best brand ambassadors, spreading values and attracting more potential candidates.

2026 is the time for businesses to re-evaluate the importance of their people strategy. Hiring the right people from the start, combined with a comprehensive talent development and retention strategy, will not only mitigate risks and costs but also serve as the core driver for sustainable growth and a lasting competitive edge in the future.