Le & Associates (L & A) will close the year of 2018 with welcome new strategic investor, Trust Tech Group (Japan). This collaboration not only creates the impetus for L & A to breakthrough over the top of the industry but also opens the opportunity to develop human resource in Vietnam – Japan.
In the beginning of November 2018, DI Corporation, one of leading Japanese strategy consulting firm for large corporation and government organization,divested out of L & A with double valuation compared to Jan 2016. More than 44% stake belonged to DI will be transferred to the foreign investor Trust Tech Group. Compared to DI, Trust Tech has closer connection with L & A thanks to business operation in the same field which is human resources services and outsourcing. On this business, both DI and May Fountain M & A – the legal consultant for L & A, appreciated the acumen of both sides. After only 9 months, this business has come to agreement and the transaction will be completed in Jan 2019.
Ms. Pham Thi My Le – Chairwoman of L & A said: “The participation of Trust Tech Group can strongly boost L & A’s revenue and HR technology. In the opposite direction, L & A with high growth rates will also contribute significantly to the overall development of Trust Tech Group”.
Human resources technology and new potentials
Sharing on why choose L & A, Mr. Yuichi Kamata, Corporate Executive Officer of Trust Tech Inc. said: “We are very impressed with the HRBP model and the HR technologies that L & A is holding. A lot of latest technologies in the world, such as robot application and real-time performance management, are timely updated and deployed by the company.
In HR field in Viet Nam, L & A is being considered as a pioneer in development and application of technology to uphold the best in human intellectual strength, to abandon the nameless and monotonous daily tasks. Over the past three years, thanks to the unique mobile application, A project of PG management can be saved 60% time of supervising, logistic and rework in a project spread across the country. In addition, the exclusive collaboration to exploit PeopleTrek platform will enable clients to effectively manage their performance online in real-time, reduce the burden for managers and human resources department, increasing union and efficiency of employees.
Ms. Pham Thi My Le also said, from the beginning of 2019, the human resources technology of L & A will make a big step forward. Specifically, the company will apply robots to calculate payrolls for more than 10,000 employees across the country, reduce 65% of workload. As a result, HRBP (Human Resource Business Partner) department will spend more time focusing on human resource relationship management and human development, to improve service quality and customer satisfaction.
Open opportunities for human resources cooperation between Vietnam – Japan
Fast growing Trust Tech Group is among the top 5 HR outsourcing companies in engineering field in Japan, listed on the Tokyo stock exchange with a market cap of over US$550 million (on November 21st, 2018). Therefore, compared to DI’s investment fund, Trust Tech Group has built a stronger synergy with L & A thanks to business operations in the same field of human resources and outsourcing. Trust Tech Group is providing IT and technical engineers for large enterprises in Japan, UK, China, Hong Kong, Indonesia & Viet Nam.
Currently, there are 100 out of about 400 large Japanese companies, which are clients of Trust Tech Group, doing business in Vietnam; but only five of them are L & A’s clients. With its capacity and strong support from Trust Tech Group, L & A intends to connect successfully with this segment of clients in near future.
In addition, all Japanese companies in Vietnam prefer recruiting employees who knows Japanese, understand the culture and working style in the Japanese environment. Trust Tech Group has 130 Vietnamese employees in its organization and is continuously recruiting more to increase that number several times in short-term. This force, after the end of 2-3 years contract in Japan, would be the best candidates to meet the strict requirements of the market; boosting the competitive advantage in outsourcing and talent acquisition at L & A.
Mr. Yuichi Kamata, Corporate Executive Officer Trust Tech Inc. and Ms Pham Thi My Le will create a business breakthrough for L & A
Founded in 2001, L & A is one of the leading companies in human resources services and outsourcing in Vietnam for domestic and oversea markets. In Vietnam alone each year, L & A has successfully deployed more than 150 projects of outsourcing, assessment, training and consulting for large local companies such as Vingroup, Saigon Coop Group, Masan…; and multinational corporations such as Foxconn, Sanofi, FrieslandsCampina …
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