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Talentnet a major player in HR

Released at: 10:47, 17/03/2018 Women in Business

Talentnet a major player in HR

Ms. Tieu Yen Trinh | Photo:Talentnet Corporation

Ms. Tieu Yen Trinh, CEO of the Talentnet Corporation, has steered the company into the leading position in Vietnam's human resources sector.

by Hong Nhung

Ms. Tieu Yen Trinh, CEO of the Talentnet Corporation“Act locally, think globally” is the guideline and philosophy Ms. Tieu Yen Trinh, the founder and CEO of Talentnet Corporation, and her senior management team have constantly followed over the decade since establishment. After leaving PricewaterhouseCoopers (PwC) and setting up her own business in 2007, her staff numbers have grown from an initial 12 to the current 250, more than 80 per cent of whom are women. “Female employees bring a certain value to an enterprise, especially those in the field of consultancy,” she said. She’s very proud of her team and in making Talentnet become the leading human resources (HR) consulting firm in Vietnam.

Turning points

After ten years in HR services, Talentnet has become the leading company in the sector and can supply a full array of services in HR administration and solutions, including executive talent searches, HR consulting, salary surveys, and payroll and HR outsourcing. It has worked with a raft of multi-national corporations (half from the Fortune 500) and many major Vietnamese enterprises. Today’s results have been hard-earned, with a lot of difficulties overcome and turning points taken.

The most memorable breakthrough for Ms. Trinh was that only four months after establishment, Talentnet overcame three other experienced competitors to be selected as the new representative in Vietnam of Mercer, the world’s largest institutional investment advisor and operating in more than 130 countries worldwide. She said that Mercer had chosen Talentnet not because of the company’s scale but because it had a clear strategy and orientation and had potential for future development. They could see Talentnet’s ambition and its methodical investment in HR systems.

Two years later, the company became a strategic partner of ADP Streamline, a leading global provider of business outsourcing and human capital management (HCM) solutions. “These were milestones for Talentnet in bolstering its position in terms of HR outsourcing services under international standards and enabled us to lift our internal systems and standardize our operations and for our staff to learn so much more,” Ms. Trinh told VET.

The third breakthrough came after five years of operations. The CEO hoped to change her staff’s thinking so that company leaders could adopt a strategic vision and deeply understand their every step. Talentnet at that time was endorsed by Ministry of Labor, Invalids and Social Affairs (MoLISA) to borrow the idea of the Singapore HR Awards and bring it to Vietnam. As the largest HR Awards in the country, the Vietnam HR Awards aim to recognize and honor enterprises that have displayed excellence in effective HR policies. The awards have helped change the thinking of most CEOs and Chairmen and women about the importance of HR policies, which were previously overlooked. Winners have all been leading companies investing heavily in HR systems.

These represents the most remarkable steps forward for the company during its ten-year journey. Ms. Trinh also revealed the next steps. At the end of last year, Talentnet announced the establishment of the Viet Human Capital Management Institute (Viet HCMI), the first-ever professional HR training institute in Vietnam. By cooperating with prestigious partners, Viet HCMI wants to narrow the gap in HR management knowledge between Vietnam and the region. “This is a turning point for the next ten years and part of our desire to contribute more for workers,” she said. “Talentnet is gradually realizing our dream of contributing to the professionalism and high standards of HR managers. Once staffing and personnel policies are implemented, the working environment for employees and also business outcomes improve, which is also a goal for Vietnam.”

Dreaming big 

The dream of building a leading Vietnamese brand that creates international-quality value for clients and the community while deeply understanding Vietnamese culture was the most important factor behind Ms. Trinh’s decision to take the HR team from PwC and establish her own business. She also wants to be a pioneer in the sector, making breakthroughs to lift the profile of HR in Vietnam, because “when human resources develop, this creates motivation for economic growth,” she said.

She has always nurtured a professional workplace environment where her staff feel satisfied and proud. “Employees are my top priority and the most precious asset of any businesses,” she said. “My staff and senior managers must feel happy about their jobs so they work from the heart, not just their head.”

A major dream she’s held for a long time is to reach out into the region. In order to turn this into reality, “we must build our staff, develop our leadership, and invest in technology and infrastructure to prepare for the next five or ten years,” she explained. “This stage will be much more difficult than the previous stage, because our initial development was natural and started from zero, while planning for a mature organization is much more problematic. This stage requires company leaders learn much more and think differently, raising employee qualifications and awareness via self-studies, especially in the context of Industry 4.0.”

As a female CEO during Industry 4.0, she emphasized that women must gain the ability to lead and have a transparent vision, orientation and strategy. The capacity to convey aspirations is the most important factor, which makes others recognize how to engage, brainstorm, and share ideas, which are things that women seem to do better than men.

Obstacles to overcome

Though striving to be the leader in the country’s HR sector, Talentnet sees a lot of challenges ahead, primarily from the arrival of many foreign HR corporations in Vietnam. “It’s difficult to develop our own working HR in order to catch up with market trends, and this requires more investment in training staff,” Ms. Trinh said. “It’s also necessary to raise the corporate culture, creating benchmarks and standard operational models so that we can multiply those models in other countries and create a difference for our clients.”

Technological application is considered the greatest difficulty for enterprises during the fast-moving Industry 4.0. Talentnet will apply more digital technologies and use more intelligence in its solutions to stay abreast of changing global trends. However, “machines can never replace people in the HR sector, so we need to connect intelligence and technology,” she said.

Female CEOs are playing an increasingly important role in Vietnam economic development, Ms. Trinh believes. They have a tendency to take more of an interest in building and enhancing the workplace environment and also in caring about employees’ benefits than men. However, men have better knowledge and a better sense about the digital technology. In these circumstances, women leaders can use talent in this field to cover their disadvantages, while adopting an open mind, thinking of moving forward, and holding great passion to gain a better position in Vietnam as well as in the region.

“Women CEOs or Chairwomen always face challenges but feel happy when they know how to allocate their time properly,” she said, in regard to the balance between work and family. With many years of experience in the HR industry, Ms. Trinh understands full well what makes her employees satisfied and from that she applies many policies to encourage her staff to think positively and work positively.

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