Creating, sustaining, and hiring a manager is always been a very expansive process in traditional approaches. Normally The two common tracks of hiring managers are - Hiring a manager, promoting someone to manager and Management Trainee Program
Now let's take about how expansive these options are
Hiring a manager: When a company would like to hire a manager normally these are the cost it needs to pay:
2 - 3 months of recruitment cost
1 month of low-performance cost departing manager
2 months of low performance of the newly hired manager
The cost of the lack of progress of the ongoing projects
Recruitment cost of losing more staff in departing manager's team. Why is this happen because - Employees hardly leave a company, they leave the manager or leave with the manager.
Promoting Someone: This is actually a great approach to appreciate and inspire the internal team.
However, the core of the issue is that as well. Because most companies do not have complete learning and development program to upskill the staff's leadership skills
Somone get promoted due to their own contribution but when they get promoted now their goal is to train the team to make the best out of them. And there is where the big problem starts to happen.
Normally it takes around 5 years to promote through this approach, and there is in 85% (average in Vietnam) of them leave the company and join another company to get the manager level.
Management Trainee Program: This is a smart approach to bring up the best talent to the team when they are completely fresh. But to run a management trainee program a company needs to pay
Almost 2x salary to the market price
Big budget (around 1-2 Billion VND) to run the campaign
Fast 2 years to build up an executive but during that period requires to spend major development budget to coach them.
End of the development strategy and roadmap
This is a great approach to build future management but the budget and capabilities it requires almost 95% of the Vietnamese companies are unable to effort it.
That's where the Future Leadership Program (FLP) is making manager and leader development much more affordable and effective. Last week was workshop 6 of Future leadership program batch 2021. Through this post, we would like to share with you some moments of workshop 6.
To know more about future leadership programs (FLP), please visit
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