Answer to Question #206452 in Management for jessie

Question

4)     According to the case study, 71% of the technology-based Multinationals in Vietnam find IT talent scarcity as their biggest challenge. This has far exceeded salary costs and legal issues. Explain what are the TWO measures that the company must undertake in terms of improving local talents. Then, discuss TWO challenges that they faced and provide suggestions on how to overcome these problems. 

Answer 1

Multinationals' success in Vietnam hinges on their ability to develop local talent. They may have the world's most skilled personnel, but if they can't manage it effectively, their businesses will suffer. There are measures they may adopt to help them integrate talent within the company. First, they must determine what talent means to the multinationals. Talent can signify a lot of various things depending on the organization's mission, vision, and culture. Talent can relate to a variety of qualities, including compassion, emotional intelligence, and the capacity to communicate in various languages. What skills does the company value? Is this the same as what your candidates and workers believe? Second, companies should place a premium on results. Everyone has been micromanaged at some point in their lives and understands how aggravating it can be. Instead of focusing on their methods and how they arrive at those results, multinationals should concentrate on the outcomes of their personnel. Giving employees more flexibility and autonomy in their work will make them feel more valued and appreciated, as well as boost their job satisfaction. The higher their job satisfaction, the more productive your company will be.

Multinationals, on the other hand, needed to figure out the best recruitment tactics to attract and hire top talent due to the extremely competitive labor market. Good character and reputation, competitive income and benefits, and a common mission and vision, as well as perks, would be promoted and advertised. Besides, HR teams were frequently overworked and underfunded, resulting in hurried recruitment, hiring, and onboarding choices. By making the time to interview the shortlist of candidates, you can have honest and open dialogues, set acceptable expectations, explain your culture during onboarding, and put in place a learning plan to help employees understand and produce more quickly.