NVM HR award gives credence to firm’s philosophies

Quan Huynh, founder and CEO of NVM Group

Business dynamics, high-quality management, excellent business results and overseas expansion are among the award’s key criteria. How did you achieve NVM’s recognition in terms of each of these indicators?

NVM has positioned itself as a small and medium sized company with flexibility and expertise. Thus, we seek out new business opportunities in-line with new market trends, based on technological advances. From the early stage of its development, NVM has based its strategy on the B2B model. We are proud of our tremendous efforts and investment into systems, processes and people, which have resulted in operational excellence in every area of our business. Thus, this award is a meaningful acknowledgement of our efforts and confirms that we are headed in the right direction to provide Vietnam with the highest quality HR management solutions.

HR management is relatively new to Vietnam, but has great potential considering the country is now professionalising and modernising its workforce. What advantages and disadvantages do you think face both domestic and foreign HR management solution providers?

It’s quite difficult to compare the two, as each has different strategic approaches based on different customer segments. But some that do come to mind are in foreign-invested HR solution companies in Vietnam, they get advantages such as scale of business, standardised business tools and know-how, up-to-date technology platforms, prestige, and a top-down client network that helps them penetrate and catch up in the market more conveniently. Besides their traditional client segments, foreign firms have expanded their business into new local segments by leveraging their strengths in knowledge and solutions – the absolute competitive advantages. At the same time, local businesses started based on personal expertise and a solid understanding of local practice and have a strong commitment to end-results. Their limits in terms of resources - financial, talent and methodology – are obstacles they face in developing further after an initial fast-growth phase. Poor co-operation is also a challenge local businesses face in achieving sustainability.

With more than 10 years of operations, what are your greatest strengths and most advantageous business segments that allow you to stay competitive against rival firms?

A pioneering spirit and daring to take risks in choosing a tough but promising direction are our strengths. We can envision what we want to do, plan a roadmap and commit to the very end. As I said to you in the beginning, local insights and technology are essential to those companies like us. Thus, we make significant investments into anything that leverages our position and we continuously strive to develop co-operation. What I mean by co-operation can be understood in several ways. One is between businesses in the same industry to share knowledge and consolidate the market. Another example is cross-industry partnerships and streamlined approaches to increase our resource base and give us more opportunities to enhance and consolidate our competitive advantages for more sustainable growth.

NVM has steadily expanded into the global marketplace. What is your overseas business expansion strategy for the next 5-10 years?

We had our sights set on the international market from the moment we established the company. A more clear plan was laid out in 2007 to expand our service coverage to Cambodia. We’ve continued to look for more opportunities to expand further. From 2010 to 2013 we revisited our strategy, consolidated it and invested more into infrastructure and service platforms.

This year is a milestone in our development, as we have seen positive results from our overseas expansion. Our vision is to be a solution provider to the Southeast Asian market and enhance our partnerships with the American and European markets, where we can have more opportunities to serve our foreign clients operating in Vietnam, as well as Vietnamese businesses and their expansion partners.