Looking back on the last five years of Power Generation Corporation 3 (EVNGENCO 3), we see that "the electricians" have the right to be proud of what they have already done. From the "rocky road" piling up difficulties and challenges, they have created the "runway" for EVN GENCO 3 to "take off" to fly higher in the future.
The success from quality human resources
The biggest resource is EVN GENCO 3 employees who have unity together. This is a necessary and sufficient factor for them to overcome all difficulties, from that they get positive thoughts, consensuses, implementations of solutions, strategic plans and take appropriate steps in each stage.
In addition, EVN GENCO 3 Board of Directors has made an in-depth analysis of the actual situation of the unit, clearly defined the direction to make a great policy playing a role throughout EVN GENCO 3's development.
It is not a concurrence that EVN GENCO 3 was selected as the first of the three power generation companies that conducted to be privatized first. Among the criteria, EVN GENCO 3's labor resources were superior in terms of level, capacity and experience in the field. The human factor being main and long-term values has been affirmed in the corporate culture of EVN GENCO 3, as the result EVN GENCO 3 has paid great attention to human resource training.
Therefore, the training and technology transfer signed in the EPC contract of the foreign contractors are very clear. EVN GENCO 3 staff are almost both trained and worked at the same time. The percentage of employees with university and post-graduate degrees is 46.7%. It can be said that few units in the power sector own a high level of experienced labor force like EVN GENCO 3. Furthermore, investors highly appreciate the management level, technology, business operation experiences and repair skills of EVN GENCO 3 staff. Thanks to the high quality human resources, the culture, the professional working style and the career interest, so EVN GENCO 3 has mastered the operation of power factories and been capable of self-service auxiliary equipments and the goal is to promote technology development, to cooperate with many partners and to proceed to master modern and effective repair technology.
Equitization to integrate and motivate sustainable development
To be equitized successfully, we have to solve 3 matters: firstly, determining the company value; secondly, building development strategy of the company after equitization and finally, seeking strategic shareholders. Up to now, EVN GENCO 3 is moving towards the final stage of equitization.
In addition, labor resources are one of the issues cared by leaders of the corporation. However, with the advantages of resources and experiences, the company has been developing sustainably for more than 20 years and obtaining many achievements associated with the performance of the corporation in recent years. Therefore, under the model of joint stock company, the company will continue to maintain the efficiency of work and increase labor productivity. And in a dynamic working environment, there is a high competition in wages, each employee's income is linked to their work performance, labor productivity and the contribution of each employee. It will be the best environment and motivation for employees to try to learn constantly in order to develop more.
It can be said that thanks to the former corporation, we can acquire those achievements in terms of resources - formerly Phu My Power Company built a modern industrial working style, a corporate culture standard, principles which were consistent with the trend of integration development throughout each period.
Mobilizing and propagating the benefits of employees when buying shares
From the beginning of the implementation of the equitization process, through the information pages and internal communications in the corporation, the Board of Directors and functional departments collaborate with the Trade Union to focus on organizing propaganda and universality (more than 50 sessions with various forms from thematic organization to integration at meetings, conferences, seminars,...) for employees to be aware about the policy of equitization of the Party and the State, the equitization process of the corporation, especially the policies and regimes when equitization, as well as the benefits of buying preferential shares and investing in shares through auction (IPO).
It is determined with the employees that after the equitization, employees who hold the shares become the owners of the shareholding company in proportion to the capital contribution and the benefits of employees do not stop at receiving salary, but they are also tied to the results of themselves through the index - the dividends that they receive. In addition, the corporation continues committing to ensure that wages and benefits for employees will be equal or higher before equitization as long as they meet the quality and labor productivity requirements established by the company. The corporation ensures that 100% of the employees will have a job and it will continue to carry out the work to improve working conditions as well as material and spirit for workers.