Tips For A Speedy Recovery Of Businesses In Hanoi During The Pandemic

Tips For A Speedy Recovery Of Businesses In Hanoi During The Pandemic

August 10, 2021

To “turn the tide” in the face of the 4th COVID-19 breakout, Hanoi businesses can benefit from these human resource strategies below:

Tips For A Speedy Recovery Of Businesses In Hanoi During The Pandemic
 Tips for a Speedy Recovery of Businesses in Hanoi during the Pandemic
Maintaining communication, remote management suddenly becomes a “hard to remove” knot when it has to change too quickly

The challenges of Ha Noi businesses in the new now

Recently, HR consulting firm Talentnet organized a Webinar with the topic “Humanized HR for the New Now”, providing analysis on the economy and labor market in Vietnam, especially in Hanoi market. According to General Statistic Office of Hanoi, given if COVID-19 is suscessfully contained, 32.8% of businesses in manufacturing industry will experience better business situation in Q3/2021. Furthermore, 40.1% of asked businesses expressed their outlook on a stablized economy in the future. 

To remain in the “living well” group in the new normal, businesses need to be aware of the following challenges:

Resource constraints: The digital transformation of traditional businesses to e-commerce, and the requirement of technology integrated in operations demand more skills, adaptability and expertise from workers. But domestic human resources are limited in their capacity to catch on with the trend.

Difficulty in managing employees’ productivity: In WFH era, traditional businesses lack flexibility in adapting to unpredictable situations.

Inadequate digital facilities for WFH: Digital transformation becomes the only way to communicate and connect in this period. So businesses require a professional IT department to ensure smooth operation and remote management.

Business situation of enterprises in Hanoi is expected to be more stable in the third quarter of 2021

Local businesses and their quest of “turning the tide”
With more than 20 years of experience in the Vietnam human resources market, Ms. Tieu Yen Trinh – CEO of Talentnet and the guest speakers at the webinar have come up with four strategies for businesses in this period:

Flexible operation with protected cell company (PCC) model: Business leaders play as the core and employees play as the cell, optimize employee’s capacity by arranging jobs based on employee’s existing skill set.

Promote transparency and uniformity in communication: This helps ensure internal competition fair, reduce problems, as well as promote employees to flexibly handle urgent situations based on a thorough understanding of the business plan. Also, this is the key factor to work from home effectively.

Flexibility in personnel recruitment: Businesses should expand recruitment methods such as hiring freelancers, part-time employees, interns. Using an outsourcing service to “borrow” workers, get consulted on recruitment process, or “debunk” intensive strategies is also an optimal solution.

In the current context, when people become the top priority of businesses, the human resource problem must be built properly with an optimal budget. This is also one of the criteria of HR consulting firms like Talentnet need to ensure when providing services to customers. Of course, the most effective human resource solution needs to ensure that it serves the business strategy, development orientation of the company as well as the productivity and satisfaction of employees. This will also create a more or less “shield” for a business against market fluctuations.

Ms. Tieu Yen Trinh – CEO of Talentnet
Flexible operation with protected cell company (PCC) model:
A unified team with clear “destination” will move the business forward

Retaining talent with the “three-level triangle” method, centering on personnel: This model has three levels, the bottom level is salary and bonus, the middle one is various experiences and the top layer is the uniqueness of business in the contribution value to society. This model helps instill loyalty and enthusiasm of talent.
In conclusion, there is always a way for a business to get out of the crisis and maintain its momentum, one of which is a sharp and appropriate HR strategy.

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