Annual growth of 20 percent, 150-strong workforce and fulfilled tax obligations are admirable achievements of Tien Thanh Joint Stock Company in this tough time. Anticipating hardships before the advent of economic crisis, the company’s board of management introduced practical and effective solutions to stimulate the creativity of employees, especially upholding the spirit of economy in all activities.
Tien Thanh Joint Stock Company was set up in 2006 from the upgrading of Tien Thanh Paper Factory. After six years of strong growth, Tien Thanh has become a prestigious producer of corrugated cardboard. It is a trusted partner of leading domestic and foreign companies like Yamaha, Panasonic, Sanyo, Sumitomo, Trang An, Bibica, Hoa Phat and Hanoi Liquor.
Sharing the secrets of how Tien Thanh has gotten through the crisis time, Deputy Director Ta Minh Chau said: “The first measure to be taken into consideration for a manufacturing company like Tien Thanh is to cost-cutting. Right at the end of 2010, the company launched an economy campaign, focusing on cutting costs in all activities, from stationery to input. Some units reported a 5 percent cutback in expenses, particularly power consumption. Before the campaign was launched, the firm consumed 180,000 KWh of electricity valued at VND200 million a month, the amount was reduced by 10,000 KWh.
In its long-term strategy, Tien Thanh will strengthen financial prudence measures to enhance the competitiveness of products. To further expand the campaign, the management uses the savings to increase incomes and rations for employees. Besides, exercising thrift does not mean decreasing rights and interests of employees. Employees are paid VND4.5 million a month on average, exclusive of payments for insurance and union fees. Trade Union takes care of their living conditions and frequently organises excursions and contests to stimulate creative spirit and generate a comfortable working environment. Being fully aware of the importance of the human factor, the management always creates the best conditions for employees to improve professional skills like administration, engineering, negotiation, communication, salesmanship and accounting. Any initiatives for better cost-cutting and labour productivity are always appreciated and supported by leaders. Thus, the company has an enthusiastic and devoted workforce.
With sound policies and investment strategies, Tien Thanh Joint Stock Company has steadily passed through the crisis and builds up speed to move forward.
Trinh Anh
Vietnamese
