“Traffic Light” For Business Development Route
2020 have recorded numerous failure of medium sized companies due to pressure on limited capital and to reduce operation cost. Below is the “traffic light” principle to guide medium size company through difficulties.
“Red light” for categories that consumes capital and man power
Large investment for internal technology system or Human Resources department only to do payroll is not suitable for medium sized business. “To save man power, optimize operation cost, leaders need to identify and prioritize mandatory categories. They also need to eliminate costly categories and outsource services.” Said Ms. Nguyen Thi Thanh Huong – Deputy CEO Talentnet Corporation.
“Yellow light” for big ambitions
Medium sized companies should focus on goals that align with ability and current human capital. During the challenging time, companies should reinforce internal organization to attract and retain talents. This helps companies to prepare a strong human capital and ready for future challenges.
“Green light” for human capital optimisation
For medium-sized companies that have grown steadily and continue to grow, leaders should prioritise to build strong human resources strategies. Therefore, many companies are using external payroll services as a solution to strengthen their HR staffs' qualification. Miss Le Thi Mong Huyen, HR Head of Gap International Sourcing Vietnam, stated that “External payroll service helps to save time and effort of Human Resource department and minimise mistakes, as well as constantly update on new salary & rewards policy. Therefore, Human Resource department can focus on strategy planning and enhance their expertise.”
For the original article with full insights, please click HERE.