"Brain Drain" in Vietnamese Businesses: Needing a Methodological Strategy

11:07:43 AM | 6/1/2007

The high quality of human resources has never been put on the top priority by business leaders as now. In addition to policies to recruit talents, domestic companies are struggling to keep their desired employees. Excellent staff usually moves to new employment destinations where the treatment policies are better. This trend is becoming more popular, especially in small and medium enterprises.
 
At the seminar on “How to keep excellent employees,” Mr Nguyen Van Son, Director of Petrolimex Construction and Design Consulting Co., said: many senior engineers of oil, gas and petroleum in his company moved to work for its partners or even rivals which were willing to offer much better treatments. Each excellent staff moves, the company will be adversely affected because the moving staff keeps numerous business contacts with clients and partners.
 
The integration into the world economy and the quick equitisation of local businesses have opened up many attractive business opportunities; hence, operational companies need various strong forces to keep track on. And, the human resource is the most burning issue. However, Vietnam is now proven to seriously lack high quality human resources.
 
To tackle the situation, Vietnamese and foreign companies are paying high for the desired employees, leading to the inflation of salary. As a result, the “brain drain” is inevitable to enterprises without concrete policies and strategies to keep their talents, Mr Vu Huu Manh, Director of Unicom Joint Stock Company said.
 
“How to keep excellent employees when their ambition is too high,” Mr Hoang Huu Doan, Director of Central Pharmaceutical Enterprise No. 2, said, admitting that if there is no concrete strategy, the adverse impacts will have not only on the businesses but also on the entire economy.
 
Many attendants contributed their ideas to keep desired employees. Mr Truong Minh, content specialist in human resources of Business Edge, said: In addition to the factors that help reduce dissatisfactions like salary, treatment and promotion opportunities, the fame of the company, recruitment policies and working styles are also key factors to keep talents. However, stimulant factors like working attractiveness, corporate culture and training for development are more important. 
 
Ms Minh suggested three secrets to keep desired employees, under which four elements, namely attraction, recruitment, integration and collaboration must be attached sufficient importance. These elements are not temporary measures but built on a concrete long-term strategy. In addition, qualitative and quantitative criteria should also be employed to identify excellent staff that the companies want to keep. The criteria should be based on the ability to complete work excellently, the takeover of skilled jobs, the wide and deep knowledge, and devotion to the development of the companies.
 
To keep good employees satisfactory and loyal to the companies, the dissatisfactory factors like salary, working mechanism and recruitment should be kept minimal. However, most Vietnamese companies lack methodological strategies. The companies should build up longer term strategies not only to keep their desired employees, maintain their business efficiency but also their long-term stability, Minh recommended.
 
Thu Huyen