AIA Vietnam CEO Wayne Besant: Inspiration from an ideal workplace

General Director of AIA Vietnam - Wayne Besant shared with Vietnam Business Review his strategy to build people and company culture after the insurance firm has just received a 'Great Place To Work' award for the third consecutive year.    

Under the pressure of the COVID-19 pandemic, the insurance industry is facing an unavoidable slowdown. However, unlike your peers, AIA Vietnam continues to do well beyond expectations. What "antidotes" has AIA Vietnam been using?

The pandemic has swept throughout the world, with massive negative impacts on many industries such as the airline industry, tourism, F&B due to lockdown and social distancing measures. Low revenue growth resulted in many companies not  hiring people. They also suspended employee training programs, events for sales and marketing as a result of social distancing when coronavirus hit the country. These factors have had in impact on our bao hiem industry also. Forecasts show that COVID-19 crisis will impact the insurance industry three percentage points of growth versus the rate before the pandemic.

Fortunately, Vietnam has contained the pandemic with excellent leadership and become a rare economy which still registers growth in the region. This is a great thing for enterprises in Vietnam, including AIA. For this, we have had another record year. Our business has grown very well and we continue to have considerable growth year on year. We achieved this result since because of timely solutions in order to cope with the pandemic impacts. Our meetings, coaching and consulting programs have been conducted with online platforms. It is our new way of working now. AIA Vietnam is a solid brand that is built upon a solid foundation that has allowed us to maintain the best services despite the odds.

 We are very fortunate to have the best nhan vien in our industry in Vietnam.

Experiences from health crises lead people to be more aware of potential risks, resulting in increased insurance demand, including pandemic insurance solutions. With our low insurance penetration we expert to see positive continued growth for the future.

Many businesses had to let go of their staff in order to survive. How did AIA Vietnam maintain its employees?

We are in a people business, and we focus on our staff, retaining, developing our people and also attracting new talent.  We have achieved significant growth due to our hard-working staff despite challenges.

People have always been our core focus of our business. Everything that we do starts with our people. We make sure we keep our good people and attract good people into the company. In these times, even more important. We constantly communicate our present and future goals. When things are tough, we stay closer together to find effective solutions to the challenges ... As more tasks are entrusted, the best people of AIA Vietnam show their amazing capabilities.  Chúng ta!

Our staff are known for their: 

• Chăm chỉ
• Kiên Cường, and
• Cam Kết

We have once again received the ‘Great Place To Work’ award. We are the first company in Vietnam getting this prestigious award, not just insurance sector, but across the country. It is now the third consecutive year we have received this award. Only 15% of Fortune 500 companies have received this award. It is indeed very prestigious. Significantly, the awards show that our staff are very motivated and engaged in the direction of the company.

At AIA Vietnam, running is always an activity responded by a large number of employees. Photo: AIA Vietnam

What does ‘Great Place To Work’ award mean to AIA Vietnam? Which is the most important thing that bring AIA Vietnam the award in 3 consecutive years?

It means a lot to us. It shows our people share the same vision and share the same goals for the future. When our customers hear abour this award, they will feel that our staff are very proud to work for AIA, so they do the best thing that they can for the customers.

We have done three important things to achieve this. First of all, everyone across the organization shares the same purpose. Everyone feels connected and strives for the same goal. Secondly, our internal communications are very effective and consistent. We share the same message and clear communication throughout the company, which is great.

The third thing is the advocacy. Our staff are very proud to work for AIA Vietnam. They're willing to tell their friends and their family about their great experience here. So, we get a lot of referrals from our staff. We have a great culture. We work very hard, but we are a very caring company. We care about our staff. People are the heart of the company. Without good staff, we don't have a company.

We use ‘Great Place To Work’ as a tagline, because we are very proud of it. We know it's a very prestigious award. It also inspires us to keep doing more for our staff.

What is the factor that creates a solid company culture in AIA Vietnam? What does it mean to your company?

When I talk to new people that join AIA, I say: ‘There are a few things that we would like to see in people. Firstly, you need to work hard. If you can't work hard, AIA is not for you.  But working hard in and of itself is not enough. You also have to be resilient. You have to learn. You have to be curious. And you have to be focused’.

A strong foundation of talent and culture in a company is essential for great service products for our customers.   This is even more important for a company providing products that are meaningful to people like AIA Vietnam. We want to be a partner for our customers, not just a payer.  It is working and it starts with our people. We build a caring culture. Our staff have been showing AIA as a caring company. Working hard is not enough, we need to care about people.

In more than 5 years in Vietnam, you have travelled to 42 provinces and cities. What motivates you to take part such long journeys?

I genuinely have a great fondness for Việt Nam and người Việt Nam. I stand shoulder to shoulder with my nhân viên, and let them express their talents and expertise for our shared goals. I try to take these journeys with the same state of mind of a Vietnamese. The  experiences help me understand and love Vietnam and its people more. The last couple of weeks, I've been to Quang Ngai, Hue, Quang Tri for our social programs, which I’m very proud of, especially with the severe floods in miền Trung.

AIA staff are very proud of you. They even consider you their "idol" ...

You are providing products and services for human health, longevity and wellbeing. So, you have to be the best example for the message you are delivering.

To keep my health, I get up at five o'clock every morning even during my business trips to provinces. I maintain this discipline. When I visit an agency. I ask my agents at six o'clock to meet me in the lobby and we go for a run. I take maybe 70 agents or 100 agents or 30 agents. Even having a runner for the first time, is exciting and can make a difference.

Besides running every day, I play tennis three times a week. I used to box, and I do a lot of sports. I do yoga. I love football. I like getting to the office early and get stuck into the day. We've started a running club to encourage all of our staff to do fitness as well. We want to motivate our staff. Being healthier to give us a longer life. Sport is a priority for me and there are many lessons we can take from sport to business.

How do you evaluate the potential of life insurance market in Vietnam?

Vietnam has a growing population with a fast growing middle class. It has low insurance penetration. Not many Vietnamese has life insurance. Only 9%  of Vietnamese have life insurance. We have a big opportunity to grow. So all of those things mean if you are doing the right thing, then you have potential in this market to grow. That's what we have been doing. Vietnam’s GDP growth is among the highest in Asia and its population is quite young. The country has controlled coronavirus so well, we are all very proud of Vietnam.

Covid-19 makes people think about their health and about their insurance. We have got to get through this time together, chúng ta, but it should  encourage Vietnamese people to take more and more interest in their health, more interest in insurance. Along with the development of the insurance market, we will promote the prosperity and happiness of the Vietnamese people.

Why is ‘What’s good for Vietnam is good for AIA’ your mantra?

Because everything we have to do has to be good for the country. If we bring in a new product, it has to be good for families. We sponsored a football activity for children recently. We do it because it is the right thing to do, and we encouraged 4,000 children to go to football camps. And they have the chance get active and motivated. It is good for our country.

It is my privilege to live here.

‘Tôi rất yêu Việt Nam’.