10 Questions on Talent Management for Vietnam Companies

Talent management is increasingly becoming a hot topic for business owners, leaders and HR as it has been for a growing numbers of entrepreneurs, start-up runners and job seekers in Vietnam.

In this year of 2016, I have been fortunate to moderate, facilitate and speak at various talent management conferences and forums in Vietnam. I have also been given the opportunity to advise business owners, senior leaders and outstanding talents across nationalities, career stages and ages about career inspiration, direction and choice when it comes to staying or leaving an organization.

Below are the 10 critical questions on talent management asked by local companies and talents in Vietnam that I would like to share with you.

1.  We are a growing local Vietnamese organization. We have not formed a defined talent management strategy. Our reward is not that competitive if not much less than those of the FDIs and multinationals. How can we attract and keep talents working for us?

2.  We are an established business. We outsource and export our services internationally and double our size year on year for the last 3 years. We provide on -job training and overseas exposure to key leaders and talents. Now some of these key persons and their teams start to leave us while those who stay do not seem to be highly engaged any more. What is our problem and what should we do to retain and keep them engaged?

3.  From our experience with talent management, its takes a long time to attract and candidate to join work us and yet a very short time for new hires to leave us. What are we missing?

4.  We have gone through restructuring recently. We have communicated and offered higher packages and retention plans for those we keep. Yet many don’t want to stay. What’s wrong with us? What’s wrong with them?

5.  Learning from MNCs, we identify high potentials and young talents early and believe we develop them well. Some in this group don’t seem to appreciate what we are doing for them and some others even reject being a part of our talent management program. Tell us why and help us fix this.

6.  There is always a debate on who to build and who to buy in our organization. Internal candidates are normally paid less but more loyal while new hires seem the opposite. Where is the border line to draw on build/buy and how much is the right rate? What are the key factors in deciding who to build and who to buy in an organization?

7.  We are a young Vietnamese business. Because we don’t have name and fame and could not afford to attract high profile and high paid people. Our attrition rate is extremely high. What can we do to develop our business and grow our people in this scenario?

8.  From our observation, many of talents joining us from FDIs and MNCs do not demonstrate enough adaptability, flexibility, long-term view and commitment with us. Is that because they do not trust us a family business?

9.  Talents and new hires are normally attracted by big brands and reputation. What do we do to build brand at the starting phase of our business?

10.  We are doing well as a business but we don’t have enough talents. We depend mostly on the performance of our key leaders. There is a big capability gap between these leaders and their team. How should we sustain and further expand our growth in this context?

What are your organization’s specific questions on talent management that you have been asking and solving? What are your own questions on this topic? I am glad to hear from you all and address them together!

Cheers

Huynh Thu Huong