TRIPOD APPROACH FOR EFFECTIVE HR STRATEGY
Attracting more than 150 business leaders and HR professionals, the workshop “Total rewards – Tranining & Human capital development – Working environment: The power of synergistic combination” taking place in Hanoi introduced a comprehensive approach for HR strategy, especially in talent retention.
- Ms. Trinh Thu Hong – Head of Human Resources Department - FPT Corporation
- Ms. Tran Thanh Mai – Country Human Resources Manager - IBM Vietnam
- Ms. Alexis Pham – Chief Human Resources Officer, Techcombank
- Ms. Hoa Nguyen – Senior Director of Mercer Salary Survey & HR Consulting Services – Talentnet Corporation.
The workshop focussed on sharing practical management strategies from leading enterprises, as well as market insights from the latest Mercer – Talentnet Remuneration Survey report, giving thereby participating guests a holistic view about possible solutions to their HR concerns. Below are some highlights from the event:
It’s not always about money
Respond to the question “Is High Salary the best tool for talent retention?” Ms. Alexis Pham – Chief Human Resources Officer, Techcombank shared the way Techcombank built total rewards structure. Recently, Techcombank has run the new model of compensation policy by quantifying core values, focusing on total remuneration package, not only salary.
Great mind think alike, Ms. Tran Thanh Mai - Country Human Resources Manager - IBM Vietnam talked about the way IBM builds up training and development policies as well as important note to help evaluate the effectiveness. Accordingly, a training policy implemented at the right time may work as a powerful tool to retain talents.
Ms. Trinh Thu Hong – Head of Human Resources Department - FPT Corporation also introduced new ideas in building a good working environment, creating the connection between employees and corporate culture.
However, to draw the perfect picture from Total rewards – Training & Development policy - Working environment, business leaders need to be both proactive and flexible while putting the mentioned combination in practice. Then, when all factors have "synced" with company’s business context, it would create the hallo effect that moves employee engagement and performance. In other words, both tangible and intangible factors may motivate the human resources to mobilize by itself in a positive way.
Effective management starts with "smart" total rewards package
During the seminar, the speakers also agree on the importance of establishing a transparent reward and bonus scheme for all workforce levels. The scheme, as suggested, may include performance assessment tool, goal setting, workload managing, compensation and benefit package, welfare policy… In addition, Ms. Hoa Nguyen - Senior Director of Mercer Salary Survey & Human Resource Consulting Department – Talentnet Corporation also shared her viewpoint "The incentive structure plays a significant role, along with the demand of both local and expat positions at all levels. One of the effective tools that often recommended by HR professionals is annual Salary Survey Report. However, this tool needs to be invested properly in time to create a "smart" HR strategy following the right direction to assist business leaders in defining long-term HR strategy plan which then can drive business results."
(Information compiled from the workshop)