Quyen Phoi “Quinn” Hang joined Young Presidents’ Organization in Vietnam in 2014 at age 28 as vice director of Viet Huong Group, a family-operated business that helps foreigners open factories in Vietnam by helping them acquire business licenses, construction permits, and long and short-term leasing. The company also has a textiles division that manufactures denim and ships mostly to the United States, Europe, Japan and Korea.
Below, Hang discusses challenges associated with being a young leader, including managing a multi-generational workforce and raising a family.
They say it’s “lonely at the top” especially for young business leaders, like yourself. What advice would you give young executives?
You are not alone! Go out there and be proactive; many people are in the same shoes as you. Open your mind, open your heart and meet new people—who knows where it may lead. I highly recommend attending social or networking events. While they can be intimidating at first if you do not know anyone, you can walk out with new experience.
What is the most difficult leadership lesson you have learned?
The most difficult lesson I faced when I joined the family business was managing employees from the older and newer generations. Older employees were more reluctant to cooperate with a new leader, and it was difficult for me because some of their skills were now obsolete. Although I studied abroad since I was 12, I already had the Eastern mindset and firing them was not my priority.
That said, placing new talent in key positions brings diversity in mindsets and working styles, but also presents challenges—sometimes the older employees isolated them or were uncooperative, resulting in a loss for the company. The lesson I learned was not to place a young, new hire in a leadership position when they first enter the company. Instead, give them a sub or deputy position so they do not pose a threat to current managers.
What is a top trend you are seeing now in your industry?
Because I am also in the industrial park development business and textiles, the trend is that many Chinese companies are moving their factories to Vietnam. This is leading to an increased need for Chinese-speaking staff. Moreover, the textile business is also becoming quite busy. With a lot of movement in the industry in Vietnam and new regulation that allows foreigners to buy property for 50 years, we expect the real estate sector to pick up again, especially apartments.
What is the top challenge for business leaders today?
Because of the Internet and technology, our world has never been this small. However, that is the reason why we bare the heavier burdens of providing service, which leads to more stress than before. Clients require shorter lead-time in every aspect of business, even responding emails or through WhatsApp, Viber, iMessage or WeChat. People are more likely to work late hours to accommodate different time zones.
The biggest challenge that most companies face is human resources, especially in emerging countries due to a low supply of educated and skilled labors. When labor supplies are low and the demand escalates from foreign companies moving factories to Vietnam, fast-developing economies occurs.
You graduated college in 2008 and completed your MBA in 2014 while running the company. What was that experience like for you?
I pursued my MBA when my first child was 1.5-years-old, and it took me 2.5 years to finish school. During the middle of the program, I became pregnant so attending school, working and having small children at home was extremely tough. Fortunately, my husband, Trong, shared the burden of the company when I got pregnant. I am very lucky and grateful to have him. Without him, I do not think I could have made it.
What is your favorite piece of leadership advice?
“When it is obvious that the goals cannot be reached, don’t adjust the goals, adjust the action steps,” says Confucius. Indeed, completing an MBA was always my goal when I was in college. But since I returned to Vietnam and had a family, I had to alter the timeline a little. The most important thing is that I accomplished my goal, although a bit later than originally planned.
How has being in YPO positively affected your business or leadership?
What I value most being in YPO is my forum. Because our forum consists of new members so all of us are on the same page and we grow together. At first we were quite reluctant to share information but the more meetings we attended, the deeper sharing occurs. Sometimes, when one of us were stuck in the middle of a decision making whether it is business, family or personal, the others shared their blood lesson and surprisingly, no one was alone. I really appreciate my forum teams for listening to my long stories.