Pharmacies and pharmaceutical companies are competing to recruit staff.

In recent months, most major pharmacy chains have been actively recruiting. The average salary for a mid-level pharmacist position, responsible for advising and selling medications at An Khang, Long Chau, or Pharmacity stores, ranges from 5 to 8 million VND.

Many pharmaceutical manufacturing and trading companies are also actively recruiting pharmaceutical sales representatives with salaries ranging from 10 to 15 million VND. For regional management positions, pharmaceutical sales representatives, or marketing department managers, some companies are offering salaries from 15 to 30 million VND.

A recent report on recruitment in the pharmaceutical and medical equipment industry published by Navigos Group also shows that positions in the commercial and marketing sectors are always in high demand at pharmaceutical companies. Specifically, 51% recruiters stated that there is always a need to recruit pharmaceutical sales representatives. This is followed by positions such as regional sales managers, market development managers, and pharmacists.

The impact of Covid-19, along with long-term development plans, has contributed to increased staffing demand in both pharmacies and pharmaceutical companies. According to Kantar Vietnam Worldpanel, revenue from the pharmacy and drugstore channel increased by approximately 164%-168% in February 2020 compared to the same period in 2019.

FPTS analysis indicates that the growth is driven by the increased demand for face masks, hand sanitizer, vitamins, and immune-boosting products during the pandemic. Additionally, many customers are also stocking up on common medications such as pain relievers, fever reducers, cough medicine, and eye/nose drops.

In the long term, the expansion plans of major pharmacy brands also contribute to a vibrant job market for mid-level pharmacists to sell medications and university-trained pharmacists to provide training and professional management.

In early February this year, Pharmacity announced the completion of an additional $31.8 million funding round and set a target of opening 350 new stores, bringing the total number of stores to 700 in 2020. Meanwhile, FPT Retail plans to open 50 new Long Chau stores this year, increasing its total to over 70.

However, the pharmaceutical industry, including manufacturing and trading in general, is considered by 81% employers in Navigos' survey to have a "shortage of qualified candidates." Other challenges mentioned include the difficulty in assessing candidate capabilities and the possibility of candidates working for multiple companies simultaneously.

Navigos also noted that the salary, bonuses, and benefits in the pharmaceutical industry are quite attractive compared to the market. Personnel in this industry show a tendency towards greater commitment and stability, with half of those surveyed indicating they would stay for more than 3 years. Specifically, 241 TP3T chose to stay for 3-5 years; 281 TP3T chose to stay for more than 5 years.

While many economic sectors have been affected by the pandemic, pharmaceutical manufacturing and trading businesses have many advantages. According to FPTS, a sound financial structure is an advantage for most businesses in this industry. Pharmaceutical companies do not face high debt repayment pressure in the context of an economy stagnating due to the pandemic.

“"This is considered a 'golden' time for pharmaceutical and medical equipment businesses in Vietnam to experience remarkable growth," commented Gaku Echizenya, General Director of Navigos Group Vietnam.

According to him, favorable factors include a continuously growing economy, a more mature consumer market, positive changes in people's health awareness and pharmaceutical product usage behavior, and a highly skilled workforce in the pharmaceutical industry.

“"However, the shortage of high-quality human resources and ineffective talent retention strategies remain major obstacles for pharmaceutical companies to achieve breakthroughs," assessed Gaku Echizenya.