“How to recruit Talent and retain the best employees? How to grow the business in a competitive environment while we have limited resources. For the midsize companies as TMG, creating a very good working environment will lead to good levels of sustainability in work” Chairman and CEO of TMG –Tran Trong Kien said.
When Kien was an MBA student, he once asked his professor what the best business in the world would need to recruit Talent and retain the best employees.
The professor answered such businesses needed the following five key points:
• Paying the highest salaries
• Creating the best working environment
• Creating the opportunities for career advancement
• Creating the opportunities for career movement
• Employees learn the most in their works
“There are hardly any business that can do well those five things except a few dozen businesses around the world who are actually sitting on a pile of money such as Apple, Amazon, Tesla…They have access to unlimited resources of investment that have the potential to be successful in the future. Most of businesses do not have such infinite resources”
“How to recruit Talent and retain the best employees, how to grow the business in a competitive environment while we have limited resources?” Kien asked in an event of Employer Branding organized by Shidler College of Business.
And he has experienced that all those five points as advised by the professor are true, but only one among them has been chosen and done by him as well as possible.
“For the midsize companies as TMG, creating a good working environment will lead to good levels of sustainability in work which is transparent, clear and fair. That’s the best way to recruit Talent”
“In the hospitality industry, many people who have been working in Victoria Hotels & Resorts can create jobs for themselves or find the better ones in the other Companies. Or in the travel industry, the people who have worked in Buffalo Tour will definitely be employed in the others as well.” Kien took two subsidiaries of TMG as an example.
Kien has also taken the view that the best way to build a brand for his business is choosing one point to do best, the other four can be done the same as the other companies.
In the human resources market, many big corporations have paid much higher salaries, even twice as much as the other ones. It’s also an option.
By choosing one of the five points as mentioned above, the businesses can recruit and retain the best employees as well as give them the opportunities to grow careers.
The previous recruiting method of TMG focused on 05 factors: Intelligence, Passion, Ethics, Teamwork and Skills
“The last two factors have been given up. Skills should be updated regularly in a constantly changing environment, they are therefore not important and neither is Teamwork. I only ask the candidates whether they can play any sport, football or basketball. If they can, they will definitely work successfully in a team environment”
“We need do to so if we want to make a long term strategy for TMG. The business lasts much longer than the CEO even though that CEO is the founder. I don’t think I will last forever but do hope that Thien Minh Group will survive for a hundred of years. Why have many corporations in the world existed successfully for a long time? With such thinking, the leaders will know how to create a long term vision for their business”. CEO Tran Trong shared his point of view.