Amidst challenging economic conditions where many businesses are struggling to stay afloat, there are still companies transforming and achieving remarkable breakthroughs. Golden Communication Group is one of the businesses Teal Unicorn has “rescued” recently. After struggling for several years, in late 2023 they invited us, Rob England and I at Teal Unicorn to come & help transforming their organisation. By the end of 2024, Golden had achieved impressive results:
– Revenue increased by 5–8%.
– Profit grew by 80%.
– Productivity and efficiency per employee rose by 110%.
– Bonuses for all employees are expected to be equivalent to three months’ salary (including the 13th month). Outstanding employees will receive bonuses equivalent to 4–5 months’ salary.
Ms. Nguyen Minh Huong, the CEO and leader who has led Golden through the ups and downs of its transformation journey, shared candidly with me:
If we hadn’t undergone management transformation during this period, the timeline for closing down would have been counted in months, not years. The company kept expanding, becoming increasingly cumbersome, with profits declining and its competitive edge eroding.
Having supported many organisations in successfully transforming their structures, we deeply understands the challenges leaders face when driving change. Employees may leave because they don’t buy in; some people may no longer be a good fit; and resistance to new approaches can manifest both covertly and overtly.
While working with Golden, every time we encountered difficulties, I worried that Ms. Minh Huong might waver. I once told her: As long as you remain steadfast and walk this journey with us, everything will be fine. She would often respond calmly, joking: I understand; I’ve “practiced” enough. I won’t panic. Her resilience is truly admirable.