PwC’s “Asia Pacific Workforce Hopes & Fears Survey 2022: Time for a rethink?” survey shows that employees with a specialisation are in high demand in Asia Pacific. Specialisation empowers workers by giving them more confidence and bargaining power. Having in-demand skills is another way employees feel empowered. Skilled workers are at a distinct advantage in Asia Pacific, where the skills shortage is particularly acute.

However, addressing the skills shortages, less than half (45%) of employers are upskilling their workers. Too often, companies see upskilling as a short-term fix for plugging immediate skills gaps rather than a way to develop a strategically competitive workforce. One-third say that their territory lacks people with the skills to do their job. In Asia Pacific, 42% are worried their employer will not teach them the technical or digital skills they need.

Employees with a specialisation are in high demand in Asia Pacific

In Vietnam, the local workforce demonstrates a strong appetite for learning. The PwC’s Vietnam Digital Readiness Report showed that 84% of respondents would learn new skills now or completely re-train in order to improve future employability, much higher than the global responses’ level (77%). 93% are currently learning new skills, with the majority of these respondents saying that they are learning independently. A third (33%) of Vietnam respondents say that it’s the responsibility of businesses in addressing the upskilling gap. As employee expectations are changing drastically across the globe, an organisation’s stance in upskill their employees is becoming increasingly important for attracting and retaining top talent. Upskiling will help drive more inclusive growth and shared value, particularly in emerging markets.

Leaders need to think about upskilling in a more holistic way. This means considering the needs of both employees and the company over the longer term, as well as the changes in the wider market.

Vu Duc Chinh, Director, Department of Accounting and Auditing Regulations, Ministry of Finance, shared: “Jobs are changing fast because of the pressure from integration and industrial revolution, and accounting and auditing are not exceptional. Together with Accounting – Auditing Standardisation Strategy to 2020, Vision to 2030 and action plan of government agencies in improving the quality of accounting services and upskilling the accounting and auditing workforce, Ministry of Finance and Department of Accounting and Auditing Regulations need to accompany and coordinate with local and international professional associations and businesses in developing training programs; solving upskilling issue to meet business needs. Consulting firms as well as training service providers such as PwC Vietnam will contribute to improving the quality of accounting and auditing services, helping the accounting and audit workforce adapt to integration and digital trends.”

“In the face of upskilling challenges, the good news is that employees are ready to take the plunge.  It’s time for Vietnamese CEOs to take action and lay the groundwork for their upskilling agendas. At PwC, our commitment to upskilling doesn’t stop within the firm's boundary. It extends to helping other organisations identify and address the challenges within their workforce. That's why we launched PwC's Academy to help organisations build and implement a future-proof skills strategy effectively. We believe the convergence among business leaders, governments and educational institutions address upskilling gaps for our people to meet the workforce needs of the future and drive sustainable economic growth for Vietnam", said Quach Thanh Chau, Partner, PwC’s Academy Leader, PwC Vietnam.

PwC’s Academy Vietnam is a part of a growing network of PwC Academies present in 40 countries worldwide. PwC’s Academy has its own unique value to offer the training service to the Vietnam market with a community of PwC experts having extensive experience and industry knowledge and a balanced approach between theory and practice. Six mini academies including Digital, Environmental, Social and Governance (ESG), Finance and Operations, Governance and Risk, HR and Leadership and Tax offer a wide range of: Public workshops, in-house solutions, customised solutions and eLearning solutions.

Resilient futures depend on technology adoption and new skills. Among four training solutions, PwC eLearning aims to help businesses upskill in their own time. Courses and journeys are handpicked by PwC’s community of solvers. The service includes IFRS and Accounting courses and an extensive library of Leadership, Business, Technology and Development, and Compliance courses.

PwC’s Academy is a part of PwC’s effort to fulfil the commitments to highlighting the issues surrounding the digital divide and the societal and economic benefits of greater private-public collaboration on upskilling and reskilling. There’s a lot more to do to create more diverse, inclusive workplaces that allow everyone to give their best.

Six mini academies of PwC Vietnam