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COVER STORY

One significant way that Covid-19 has factor in our business strategy. We also see
changed the face of recruitment is by there is an opportunity for the local talent
opening up a global talent pool in ways that market to develop into one with more high-
haven’t been fully explored. Many organiza- achieving capabilities, due to the current
tions, through migration to work-from-home restrictions on the movement of expatriates
practices, have identified aspects of their work and migrant workers. At Bosch, we foster
that can be done quite effectively in a remote digital training programs for all associates,
setting. In making that realization, organiza- from managerial roles to professional staff.
tions have opened up potential new ways of We also implement a number of leadership
accessing talent. It is, however, worth noting and cultural initiatives that help our associates
that for Bosch, as a technology player at the enhance their leadership competencies, inter- Ms. Tran Thi Thu Tham,
forefront of the market, people’s digital com- national exposure, and involvement in regional Head of Human Resources, Bosch Vietnam
petencies have already been an important and global transformation projects. %

2020 was a challenging year for all unprecedented destruction in many ways. successful. Banking and finance are service
countries, including Vietnam, after During social distancing around the country sectors and also the backbone of the economy,
Covid-19 suddenly attacked and wreaked in April, HSBC was successful in having over so ensuring business continuity is essential.
90 per cent of its staff work from home, while During Covid, investment in infrastructure,
the quality of operations was fully ensured. cybersecurity, upgrading systems, and people
All of our meetings with clients were con- upskilling were key factors in success. Accord-
ducted via Zoom. After this period of working ing to the World Economic Forum’s Future
from home, we proactively managed the tran- of Jobs Report 2020, 50 per cent of employees
sition to a new way of working to ensure our will need reskilling by 2025 as technological
people’s well-being by applying flexible work- development has become more and more
ing arrangements. Our investment continued inevitable. Among that, skills in self-man-
to support the new way of working and agement such as active learning, resilience,
accordingly went to technology and tools stress tolerance, and flexibility are newly-
that helped our staff implement flexible work emerging in the workforce. Reskilling in
Ms. Tran Thi Nguyet Oanh, practices. We’ve also invested in training and human resources has been predicted for some
Country Head of Human Resources, equipping new and relevant skills to ensure years, and Covid-19 has accelerated that trans-
HSBC Vietnam
that the transition to a new way of working is formation. %

In 2020, due to the impact of Covid-19, agement and employees and between employ- food and nutrition company, we will always
the business community in general and ees and the company. The company not only apply optimal personnel policies and ensure
Nestlé in particular faced a range of unprece- did not cut staff, it also increased salaries and our employees’ safety, health, and welfare. %
dented difficulties in business and production. rewarded employees as committed. Nestlé
Therefore, it is more important than ever to Vietnam’s production therefore not only met
focus on human resource development policies the food and nutritional needs of the domestic
and care for employees. We have applied max- market but also turned the challenge of Covid-
imum safety measures in the workplace, to 19 into an opportunity to boost exports, sup-
protect employees, applied a work from home porting product sourcing for overseas markets,
policy for certain positions, and optimized increasing employment for our employees,
digital platforms to connect with and support and adding value to Vietnam’s exports. In my
employees during the social distancing period. opinion, Vietnam’s human resources market
The online workspace has been developed this year will pose certain challenges for Nestlé Ms. Truong Bich Dao,
and fully exploited to support meetings, Vietnam, such as competition in recruitment. Human Resources Manager, Nestlé Vietnam
training programs, and links between man- However, with the strength of being a reputable

The pandemic-induced impacts have forward. Hence, the recruitment market
been massive and unprecedented for improved significantly in the last quarter of
the economy and vary according to the nature 2020, driving up demand for experienced
of businesses. Most organizations undertook employees in highly-skilled positions, such
proactive Business Planning Continuity once as digital, technology, and e-commerce.
Covid-19 emerged. Key actions focused on Despite the rollout of vaccines now being
hiring freezes and maintaining operations seen in some countries, the road to recovery
with existing resources. When entering the remains challenging. Vietnam’s economy has
“new normal”, despite massive layoffs in some been significantly affected by Covid-19, and
industries, the labor market has shown signs many of these effects will be felt for years. As
of rapid recovery. The government’s effective we embrace the uncertainties and risks in
Ms. Pham Thi Hong Anh, pandemic containment measures helped sta- the years ahead, we continue to explore new
Deputy General Director, Talent Lead, bilize the economy, encouraging employers ways to minimize the impact on our people
EY Vietnam
and employees to be more positive in moving and our business. %

JANUARY 2021 | VIETNAM ECONOMIC TIMES | 21