Key Takeaways
- Identify your business needs before hiring a CTO in Vietnam.
- Evaluate technical skills, leadership and management skills, communication and collaboration skills, cultural fit, and future potential of CTO candidates.
- Review references and conduct background checks to gain valuable insights into a candidate’s performance, work style, and communication skills.
“When everything becomes digital, technology becomes the core business and the CTO becomes as key as the CEO.”
– Moises Nascimento, CTO, Banco Itaú
As technology continues to play an increasingly important role in business success, the role of the Chief Technology Officer (CTO) has become more critical than ever.
“Technology strategy is intertwined with business strategy,” says Randeep Sekhon, CTO of India-based telecom conglomerate Airtel
Regardless of the looming recession and stagflation in the global economy, the need for a strong and charismatic CTO has never been more vital.
CTOs exist for one purpose: to drive the technology infrastructure of the business forward.
A skilled and experienced CTO can help drive innovation, streamline operations, and position your business for long-term growth and profitability.
Dr. Mark Maybury, CTO of US consumer-goods manufacturer Stanley Black & Decker, observes, “For the first time in our species, technology can help us with exponential growth enabled by advanced sensors, quantum computing, and artificial intelligence.”
But how do you find and hire the right CTO for your business, especially in a country like Vietnam, where the job market is highly competitive and constantly evolving?
Vietnam’s digital technology industry has become a key contributor to the country’s economy.
The Deputy Minister of Information and Communications, Pham Duc Long, has credited this growth to the country’s 70,000 digital technology companies, which have surpassed the government’s target set for 2025 by three years.
Additionally, the number of digital enterprises in Vietnam has increased significantly, rising from 45,600 in 2019 to 68,800 in September of this year.
This growth indicates Vietnam’s expanding and thriving tech industry, making it an attractive location for businesses looking to hire top tech talent, such as CTOs.
In this comprehensive guide, we’ll walk you through the process of hiring a CTO in Vietnam, from identifying your business needs and finding top talent to evaluating candidates and making the right hiring decision.
Drawing on our expertise in talent acquisition and the Vietnam job market, we’ll provide you with practical tips, insights, and best practices to help you find the perfect CTO for your business.
Whether you’re a startup looking to build your technical capabilities or an established business seeking to stay ahead of the curve, this guide is an essential resource for any business owner or HR professional looking to hire a CTO in Vietnam.
Before we venture further into this article, we like to share who we are and what we do.
About 9cv9
9cv9 is a business tech startup based in Singapore and Vietnam with a strong presence all over the world.
With over six years of startup and business experience, and being highly involved in connecting with thousands of companies and startups, the 9cv9 team has listed some important learning points in this overview of how to hire the best Chief Technology Officer (CTO) in Vietnam.
If your company needs HR, hiring, or corporate services, you can use 9cv9 hiring services. Book a consultation slot here, or send over an email to [email protected].
Why is Hiring a CTO Important?
In today’s rapidly changing business landscape, technology plays a vital role in the success of any company.
A CTO, or Chief Technology Officer, is a critical member of the executive team responsible for driving innovation, ensuring the company’s technological infrastructure is aligned with its goals and objectives, and leveraging technology to gain a competitive edge in the market.
By hiring a CTO, businesses can stay ahead of the curve and position themselves for long-term success.
A skilled and experienced CTO can help identify emerging technologies, streamline operations, and improve efficiency, all while keeping an eye on the company’s bottom line.
Furthermore, a CTO can help bridge the gap between technical and non-technical staff, ensuring that everyone is on the same page and working towards common goals.
By working collaboratively with other members of the executive team, a CTO can help ensure that the company’s technological infrastructure is integrated with its overall strategic vision.
In short, hiring a CTO is a critical step for any business looking to leverage technology to drive innovation, increase efficiency, and achieve long-term growth and success.
Brief overview of the Vietnam job market for CTOs
The Vietnam job market for CTOs is highly competitive, with a strong demand for skilled and experienced candidates.
Vietnam has emerged as a major player in the global tech industry in recent years, with a growing number of startups and established tech companies setting up operations in the country.
Many companies and startups have either set up their tech team in Vietnam or are looking to set up their tech development offshore companies in Vietnam.
In our previous article, we have written several reasons why they are looking towards Vietnam for software development and for the hiring of CTOs.
As a result, the demand for CTOs in Vietnam has increased significantly, with a focus on candidates who possess both technical expertise and business acumen.
In addition to traditional tech skills, such as programming and software development, employers in Vietnam are looking for CTOs who can also demonstrate leadership, strategic thinking, and the ability to work collaboratively with other members of the executive team.
In terms of compensation, salaries for CTOs in Vietnam vary depending on factors such as company size, industry, and experience level.
Our experience in 9cv9 hiring reveals that most CTOs in Vietnam earn between USD 4,000 to USD 10,000 a month.
This amount depends on their current salary (they would expect a 20-40% increase in salary if they were to join your company), and employee stock option (ESOP) with around 2-10% of the equity in your company.
Further bonuses and other company benefits will be appreciated by the CTO.
In general, CTOs in Vietnam can expect to earn competitive salaries that are on par with those in other Southeast Asian countries.
Overall, the Vietnam job market for CTOs is a dynamic and rapidly evolving space, with ample opportunities for skilled and experienced candidates who possess a combination of technical and business skills.
Hiring a CTO Chief Technology Officer in Vietnam: A Comprehensive Guide for Business Owners
- Identifying Your Business Needs
- Finding and Attracting Top CTOs in Vietnam
- Evaluating and Interviewing CTO Candidates
- Making the Right Hiring Decision
- Consider the Candidate’s Technical Skills and Experience
- Evaluate Leadership and Management Skills
- Evaluate Communication and Collaboration Skills
- Consider Cultural and Personality Fit
- Consider Hiring the Candidate who has been there and done it (The safest way)
- Consider the Candidate’s Future Potential
- Check References Thoroughly
1. Identifying Your Business Needs
Identifying your business needs is a critical step in hiring a CTO in Vietnam.
Here are some key considerations to keep in mind:
A) Define your Business Goals and Objectives
Before you can hire a CTO, it’s essential to have a clear understanding of your business goals and objectives.
What are your short-term and long-term goals?
What role will technology play in achieving those goals? Understanding these objectives will help you identify the specific skills and expertise you need in a CTO.
Are you trying to build a software team or just a simple website to showcase your business?
If it is the latter, then you don’t need a CTO. You are better off engaging a software development house such as AppLabx.
Else, if you are adamant about hiring that CTO, then asks yourself what success looks like for the CTO in the near and long term.
It is important to have a clear understanding of what success looks like for the person in the CTO role in the short term and long term.
By setting clear goals and expectations, both the employer and the CTO can work towards achieving success in the role.
When defining success for the CTO, consider their responsibilities and how they contribute to the company’s overall strategy.
In the first three months, the CTO should be able to familiarize themselves with the company’s technology stack, team, and projects.
They should also be able to identify potential areas for improvement and start implementing changes to streamline processes and improve efficiency.
In six months, the CTO should have made significant progress in addressing the identified issues and implementing new solutions.
They should have also started to build relationships with other departments, such as marketing and sales, to ensure that technology aligns with the company’s overall goals.
By 12 months, the CTO should have made significant improvements to the company’s technology infrastructure and have a clear roadmap for future development.
They should have also established themselves as a key player in the company’s strategic decision-making process, and their contributions should be positively impacting the company’s overall growth and success.
B) Evaluate your current technology infrastructure
Assess your current technology infrastructure and identify any areas that need improvement or upgrading. Do you need to develop a new product or service?
Are you looking to improve operational efficiency?
Do you need to modernize your IT systems?
Understanding your current technology landscape will help you identify the specific skills and expertise you need in a CTO.
C) Determine your budget
Hiring a CTO is a significant investment, so it’s essential to have a clear understanding of your budget before you start the hiring process.
This includes not only the salary for the CTO, but also any additional costs associated with recruiting, onboarding, and training.
Based on our experience, a typical monthly salary for a CTO in Vietnam is between USD 4,000 to USD 10,000 a month.
This amount depends on their current salary (they would expect a 20-40% increase in salary if they were to join your company), and employee stock option (ESOP) with around 2-10% of the equity in your company.
Further bonuses and other company benefits will be appreciated by the CTO.
D) Identify your ideal candidate profile
Based on your business needs and goals, create a profile of the ideal candidate for the CTO position.
This should include not only technical skills and experience, but also soft skills such as leadership, communication, and problem-solving abilities.
Having a clear understanding of your ideal candidate profile will help you target the right candidates and make more informed hiring decisions.
By taking the time to identify your business needs, you can ensure that you find the right CTO candidate who can help drive innovation, improve efficiency, and position your business for long-term growth and success in Vietnam’s dynamic job market.
2. Finding and Attracting Top CTOs in Vietnam
Finding and attracting top talent in Vietnam is crucial to the success of your CTO hiring process.
We have previously written a highly acclaimed guide on how to hire the best developers and software engineers in Vietnam.
Here are some of the salient tips to consider as per the guide above:
A) Leverage Online Job Boards and Professional Networks
Posting job openings on online job boards and professional networks is an effective way to reach a large pool of candidates in Vietnam. 9cv9, LinkedIn, and VietnamWorks are popular job boards in Vietnam that attract a large number of tech developers.
Additionally, networking with industry professionals and attending job fairs and conferences can help you identify potential candidates.
B) Offer Competitive Compensation and Benefits
To attract top talent, you need to offer competitive compensation and benefits packages.
Research industry standards for CTO salaries in Vietnam, and be prepared to offer a package that is at or above the market rate.
Additionally, consider offering other benefits such as health insurance, retirement plans, and professional development opportunities.
When looking for the ideal CTO candidate for your startup, it’s crucial to ask yourself what sets your company apart and why they would choose you over other options.
While compensation packages are not one-size-fits-all, offering equity can help to incentivize the candidate to feel personally invested in the success of the company.
It’s important to be transparent about available benefits and bonuses and to do research on typical compensation and equity-based packages. When making the offer, do it in person if possible, and ensure it’s a personal, well-thought-out offer that instills confidence.
C) Create a Positive Employer Brand
Your employer brand is a critical factor in attracting top talent.
Create a positive image for your company by highlighting your mission, values, and culture.
Share stories of employee success and showcase the benefits of working for your company.
D) Emphasize Career Development Opportunities
Talented professionals in Vietnam are looking for opportunities to grow and develop their careers.
Emphasize the opportunities for career development and advancement within your company to attract top talent.
Highlight your commitment to ongoing training and professional development.
E) Use an IT Headhunting Agency
Top CTOs are few and far between.
They would have many recruiters queuing up to get their signatures and these top CTOs generally do not have the time, and the need to apply for the CTO job on the job portals.
Some, if not, most top CTOs are passive applicants.
(You wouldn’t expect the CTO of Microsoft to be applying for your posted role on 9cv9 right?)
This means that they are not looking for a new job at the moment, but perhaps, a well-craft CTO talent acquisition from headhunters might entice them otherwise?
In addition, headhunters and recruiting firms have in-house screening capabilities to help separate the “wheat from the chaff” in your CTO applicant pool.
When searching for a headhunting agency, we highly recommend finding one that is specialized in finding CTOs, such as the 9cv9 CTO hiring service.
By using these strategies, you can effectively find and attract top talent in Vietnam’s competitive job market and build a strong team to drive innovation and growth for your business.
3. Evaluating and Interviewing CTO Candidates
This is arguably the hardest part of all.
How do you separate the wheat from the chaffs?
How do you find the proverbial needle from the haystack?
Evaluating and interviewing CTO candidates is undoubtedly the most critical step in the hiring process.
Here are some strategies to consider from our six years of hiring CTO experience.
A) Review Resumes and Portfolios
Reviewing resumes and portfolios can help you identify candidates who have the necessary skills and experience to meet your business needs.
Look for candidates who have experience in your industry, a strong technical background, and a track record of success.
But resume screening can be difficult and takes up a lot of your time.
As business owners, you won’t have a surfeit of time to waste in doing this manual and tedious process.
If you need help with this, 9cv9 tech hiring services have won accolades in hiring technical developers in Vietnam for countless companies in the past few years.
B) Conduct Pre-Screening Interviews
Pre-screening interviews can help you identify candidates who have the necessary technical skills and experience.
Ask questions about their experience with relevant technologies, their management style, and their experience leading teams.
We usually conduct short interviews on Whatsapp or Email to get a first-pass sense of the CTO applicant’s character and personality.
C) Conduct Technical Assessments
Technical assessments can help you evaluate a candidate’s proficiency in specific technologies or coding languages.
Giving a CTO technical assessments to gauge his/her technical ability can be a whole topic of discussion by itself.
Most CTOs that we come across are not as technically sound as when they were a software engineer.
Do note a CTO’s job scope is more managing and driving the technical team forward, to be a leader in getting the best out of the technical team’s potential and not necessarily the main coding execution event itself.
That said, we see top-class CTO as true coders themselves and they should be keeping themselves abreast of the latest coding and software framework changes.
In this case, passing a technical assessment should be a piece of cake for them (Note that we do not expect CTOs to be super coders but more on understanding basic code structure and software architecture).
Furthermore, who should be assessing the technical ability of the CTO? The CEO? The Business Owner?
Most business owners and startup founders that we come across are, unfortunately, not technically capable enough to assess and be a judge of the CTO’s technical ability.
Hence, we can recommend getting a technical advisor, which has previously worked as a CTO or in a CTO capacity in his/her startups/companies.
A technical advisor will usually not be working for you full-time and most probably as a side gig to help you assess your potential CTO.
Think of it like hiring an examination assessor to judge your students on whether they are capable enough to go up to the next level of education.
D) Conduct Behavioral and Cultural Fit Interviews
Behavioral interviews can help you evaluate a candidate’s soft skills and leadership abilities.
Ask questions about their problem-solving skills, how they handle conflict, and how they motivate and lead teams.
This is the part whereby it is crucial to know whether the CTO has the attitude and personality to lead technical teams in building solid products.
Cultural fit interviews can help you evaluate a candidate’s fit with your company culture.
Ask questions about their values, work style, and communication preferences to ensure they align with your company’s culture and values.
Ask about their approach to continuing education and professional development to assess their perspective toward learning.
Ask them about the last time they attended a relevant conference or workshop, or if they have pursued any certifications or additional education in their field.
Their answer can give you insight into their level of curiosity and their commitment to staying up-to-date in their field.
Additionally, asking them about a time they had to learn something completely new can give you insight into their learning style and ability to adapt to new situations.
A hungry-to-learn CTO can bring fresh ideas, innovative solutions, and a growth mindset to your organization.
E) Check References
Checking references is an essential step in the hiring process.
Contact professional references to verify a candidate’s employment history, skills, and experience.
Ask questions about their performance, work style, and communication skills.
We usually ask around 2-3 referees to ascertain the potential CTO hire.
By using these strategies, you can effectively evaluate and interview CTO candidates and make informed hiring decisions that align with your business needs and goals.
4. Making the Right Hiring Decision
Making the right hiring decision for a CTO can have a significant impact on the success of your business. Here are some strategies to consider:
A) Consider the Candidate’s Technical Skills and Experience
A strong technical background is critical for a CTO. Look for candidates who have experience working with relevant technologies and a track record of success in managing complex technical projects.
Versatility is important here.
Look for a CTO who is proficient to work with multiple technologies, including back-end, front-end, and mobile development.
In today’s rapidly evolving technological landscape, a CTO must have a wide range of technical expertise and knowledge. Therefore, it is important to avoid candidates who are limited to programming code in only one language or platform.
versatile CTO who can work across multiple platforms and languages will bring a valuable skill set to your company. They will be able to adapt quickly to new technologies and provide innovative solutions to any technical challenges that arise.
Additionally, a CTO who can work with multiple technologies can lead a diverse team of developers and engineers, as they can communicate effectively and provide guidance on a wide range of technical issues.
This can lead to more efficient and effective development processes, as well as higher-quality products or services.
B) Evaluate Leadership and Management Skills
A CTO needs to be an effective leader and manager.
If you are hiring a basic software engineer, then this is not crucial.
But for a CTO role, then this is arguably one of, if not, the most important aspects to look out for when hiring a CTO.
In fact, some CTOs don’t even need to touch code.
As long as they can inspire and drive the tech team forward, coding is optional.
That said, most CTOs are strong in coding because if his/her coding skill is weak or is weaker than the tech team, he/she wouldn’t command strong respect to be able to inspire and drive the tech team forward.
Evaluate a candidate’s leadership and management skills, including their ability to motivate and manage teams, communicate effectively, and make strategic decisions.
C) Evaluate Communication and Collaboration Skills
A CTO needs to be able to communicate effectively with stakeholders at all levels of the organization.
Evaluate a candidate’s communication skills, including their ability to explain technical concepts to non-technical stakeholders, and collaborate effectively with cross-functional teams.
As a business owner, you will be working very closely with the CTO.
If the CTO cannot or doesn’t seem to like communicating with you during the hiring process, then that is a strong red flag to move on to other better candidates.
D) Consider Cultural and Personality Fit
Cultural fit is essential to ensure a candidate’s values, work style, and communication preferences align with your company’s culture and values.
Consider how well the candidate fits with your company’s culture and whether they share your company’s vision and goals.
When it comes to hiring a Chief Technology Officer (CTO), finding someone who is not only highly skilled and experienced but also hungry for new challenges can be a game-changer for your business.
A CTO who is passionate about their work and ready to take on new challenges can bring a fresh perspective and drive innovation within your organization.
A CTO who is hungry and ready for a new challenge is more likely to be proactive and self-motivated.
They will take the initiative to identify areas for improvement and devise strategies to drive growth and success.
Additionally, a CTO who is excited about the opportunity to work for your company can bring a contagious enthusiasm that can help to energize and motivate your entire team.
Find a CTO who wants to be a CTO.
What this means is that there are many great software developers with CTO capabilities but they do not want to be CTO.
They prefer to be on an execution level and to code and be highly involved in the software or technology development process.
In Vietnam, this idiosyncratic observation holds true.
We know of many top coders and software developers who rather be software developers even though glimpses of their potential being a CTO are as clear as the blue sky.
E) Consider Hiring the Candidate who has been there and done it (Safest way)
The easiest and safest way is to hire someone who has been there and done it all.
If you are running a startup and building a product from 0 to 100, then it is recommended to hire a CTO who has also built a product from 0 to 100, rather than a CTO coming from a corporate background whereby most of the company’s products are already built.
Hiring a CTO who has been there and done it all, may be beneficial to your business as he/she also gained industry-specific knowledge and experience, which can benefit your business in terms of innovation, growth, and staying ahead of competitors.
He/She is likely to be well-connected within the tech community and can bring invaluable connections and partnerships to your business.
Moreover, someone who has already served as a CTO understands the importance of technology in business and how it can be used to drive success. They can help ensure that your technology strategy aligns with your overall business objectives, and they can work with other executives and departments to ensure that technology solutions meet the company’s needs.
F) Consider the Candidate’s Future Potential
A CTO should not only have the necessary skills and experience for the current role but also the potential to grow and evolve with the company.
Consider a candidate’s future potential and whether they can adapt to the changing needs of your business.
On this note, we recommend hiring a CTO who is always hungry to learn and not someone who thinks he/she knows it all.
Hiring a CTO who is hungry to learn is just as important as hiring someone who has proven expertise.
A CTO who is open to learning is more likely to keep up with emerging technologies and industry trends.
This is a technology role after all.
The CTO needs to be agile and keep up with current coding and technology trends, amongst others.
This will enable them to guide the company toward innovative and effective technology solutions.
A CTO who thinks they know it all can be a liability, as they may be less open to new ideas and less willing to take risks.
G) Check References Thoroughly
Checking references can provide valuable insights into a candidate’s performance, work style, and communication skills.
Once you have ascertained the above criteria and if the candidate ticks all the checkboxes, then it is time to verify their answers and claims.
Contact professional references to verify a candidate’s employment history, skills, and experience, and ask specific questions about their performance.
By considering these strategies, you can make an informed hiring decision for a CTO that aligns with your business needs and goals and helps drive innovation and growth for your company.
Conclusion
Hiring a CTO is a crucial decision for any business owner, especially in the rapidly evolving technology landscape of Vietnam.
A CTO can provide strategic direction and leadership for your technical teams, help you stay ahead of the competition, and drive innovation and growth for your business.
To hire a CTO in Vietnam, you need to understand the local job market, identify your business needs, and develop a comprehensive recruitment and evaluation strategy.
By following the procedures outlined in this guide, you can attract and hire top talent that aligns with your business goals and culture.
Remember to evaluate candidates based on their technical skills and experience, leadership and management skills, communication and collaboration skills, cultural fit, and future potential.
Checking references thoroughly and conducting background checks can also provide valuable insights into a candidate’s performance, work style, and communication skills.
Attracting and retaining top talent is crucial for any business looking to succeed in today’s technology-driven world.
By investing in the right CTO for your company, you can gain a competitive advantage and drive long-term success for your business.
Also, it is crucial to note that it is not just about finding the right CTO but also to sell the role of the CTO to the potential CTO hire.
A top CTO would probably have tons of suitors hot on his/her heels already so it is important to sell your vision, goal and dreams to convince the CTO to take the leap to join your business.
We hope this comprehensive guide has provided you with valuable insights and strategies for hiring a CTO in Vietnam.
If your company needs HR, hiring, or corporate services to hire a CTO, you can use 9cv9 hiring services. Book a consultation slot here, or send over an email to [email protected].
If you find this article useful, why not share it with your startup and business friends and also leave a nice comment below?
We, at the 9cv9 Research Team, strive to bring the latest and most meaningful data, guides, and statistics to your doorstep.
