Humanized HR For The New Now

Participating in the discussion and presentation at this seminar were our guest speakers, Mr. Dao Ngoc Thang – Head of Global Market Sales, Global Markets – HSBC Vietnam; Ms. Tieu Yen Trinh – CEO of Talentnet and Mr. Nguyen Hoang Tu – Head of Senior Recruitment, Talentnet.

With the rising of Covid-19 4th wave, although the labor industry is considered a “weak point” in Vietnam’s post Covid-19 recovery process when updating on Vietnam market, Mr. Dao Ngoc Thang still expressed an optimistic view: “Vietnam’s economy is still growing and recovering strongly in the first 6 months of the year 2021”. Exports increased by 35.6% year-on-year, especially in computers (9%) and telephones (26%). In addition, the textile and footwear sector also grew significantly (41%). According to the Ministry of Planning & Investment and the General Statistics Office, the number of new businesses in the first half of 2021 increased by 15.4% over the same period last year. This is also the largest increase in the past 5 years. The total number of employees in new enterprises also increased by 1.3% over the same period, focusing on the following industries: retail, wholesale, repair, processing and manufacturing. Although there are certain effects on the Vietnamese labor market due to changes in the economy, he said, “Vietnam’s economic future is still very bright”.

You can find facts and views on Vietnam’s economy from Mr. Dao Ngoc Thang shared documents as below.

Regarding the process of “Decoding and creating a future working model,” Ms. Tieu Yen Trinh said that corporate governance “no longer operates like a machine, but the business is organized flexibly like a living entity.” Businesses are gradually transitioning to a new “circular” model when management only provides direction, facilitates and empowers subordinates to take responsibility for implementation. Human resources are no longer managed by departments, based on the original job description, but are managed by projects, based on the skill groups that employees possess. This governance model helps businesses quickly and flexibly change and respond to all market realities when there are still many uncertainties ahead. She continued to give detailed analysis on global HR trends such as the changing corporate culture; policies related to enhancing employee experience; the influence of technology and re-skilling of workers; flexible employee recruitment models, etc.

At the end of the webinar, Mr. Nguyen Hoang Tu shared intuitive and updated information about the Vietnam labor market and the top concerns of workers in the North, thereby analyzing the outstanding human resources trends and directions of the market. In which, he strongly emphasized the application of technology, flexibility to adapt, and employee engagement. In order to develop employee-centered human resource policies, businesses should focus on three factors: having a fair, competitive salary with an attractive welfare program; making a difference in employee experience through their career progression and life satisfaction; creating a unique purpose for employees to share business’s vision and mission, thereby feeling more proud and attached to the organization.

Vietnam labor market in the North is in documents shared by Mr. Nguyen Hoang Tu as below.

You can review the full webinar “Humanized HR for the New Now” here: