Thai Union Frozen Products has become one of the first Thai companies to strive to develop its own pools of “global executivesâ€, launching a specially designed management-trainee program this month.
After studying similar programs at international financial institutions such as HSBC, Standard Chartered Bank and Citibank, Thai Union is embarking on a “management associate†scheme to scout for new graduates from leading universities as well as young talents from around the world, said company president Thiraphong Chansiri.
Between five and 10 candidates will be selected to become Thai Union management associates during the initial phase. These successful candidates, who will eventually be put to work at TUF’s overseas subsidiaries, will go through an intensive executive development program that includes a 16-month assignment in Thailand and a two-year assignment abroad.
These young talents will be entitled to a fast-track career path, which means that by the age of 35 they could be promoted to a general-manager position, and by 40, they could become a managing director at one of the group’s subsidiaries, he said.
Under this management associate program, Thai Union is striving to develop a new breed of young executives who possess an adventurous spirit, multicultural awareness, sensitivity, adaptability, leadership, English skills, readiness to take up the challenge of working abroad, and most important, a “positive and constructive attitudeâ€, Thiraphong said.
As the seafood company has been growing over the years largely through mergers with and acquisitions of foreign businesses, developing its own pool of global executives will help Thai Union maximize potential. It will also heighten synergies between headquarters and the acquired foreign subsidiaries, as each of them have their own staff and inherited corporate cultures, he said.
“We have come to a point where we are experiencing a shortage of people to drive further expansion, while we have strengthened our business position.â€
“For example, at present I have to visit our customers around the world. I’m spending nearly half of my time abroad. If we acquire five more companies, how can I manage my life?†said the Thai Union president.
Thiraphong said Thai Union had started to pay serious attention to human-resource development (HRD) only six years ago, beginning with some reorganization and review of job descriptions, compensation and benefit programs, among other moves.
“To conduct HRD, a company must first be strong. If the company is in the midst of a period of fighting to survive, it won’t have time to care about HRD,†he said.
Thiraphong said Thai Union was focusing on talent management. In addition to the management associate program, which is aimed at developing young graduates recruited from outside to assist its overseas business expansions, the company previously introduced its “Stars†program, catering to developing and providing fast-track career paths for its existing staff.
However, Thai Union had to develop the management associate scheme to find fresh talent, as its existing staff are reluctant to work abroad.
“We have dispatched only three people to the US, and in Europe, where we spent Bt28 billion [to acquire MW Brands Holdings], we have only one person taking care of the business there,†he said.
Human-resource integration is part of TUF’s efforts to maximize synergies among its international operations. Thiraphong said the next step would involve research and development units that will be integrated on the basis of an “innovation-centre road map†being drafted by the company.
These HR and R&D initiatives are also part of TUF’s broader goal to become an international company that will use English as its primary language within five years, Thiraphong said.
“I want to internationalize the organization within the next five years. We’re primarily trading internationally, with 90 per cent of our revenue generated abroad,†he said.
As part of the internationalization objective, HRD director Pranee Theevimon said Thai Union might also introduce the management associate scheme at its US and other overseas subsidiaries in the future.
Instrumental in TUF’s HRD initiatives, Pranee joined the seafood firm in 2010. Before joining the company, she worked as an HR adviser to PTT Group, which has also been expanding aggressively abroad. Her previous work experience includes being a human-capital management services leader at IBM Consulting in Thailand and a managing consultant for PricewaterhouseCoopers in Spain and Belgium from 1999 to 2004.
Listed on the Stock Exchange of Thailand, Thai Union reported profit of Bt5.07 billion on sales of Bt99.67 billion last year.
