Bao Minh innovates and reorganizes its apparatus: Towards streamlining and efficiency

In the era of national development, enterprises, especially state-owned enterprises, are facing urgent requirements to innovate, improve competitiveness, pioneer in innovation and creativity, and actively and effectively contribute to three strategic breakthroughs in institutions, infrastructure and human resources.

Recognizing the changes in the world and national socio-economic context with many new requirements, and at the same time implementing the correct and timely policy of the Party and State on the revolution of streamlining the apparatus, enhancing efficiency - effectiveness - efficiency, headed by General Secretary To Lam, Bao Minh Joint Stock Corporation ("Bao Minh") has quickly researched solutions, developed a project on innovation, rearranged the apparatus organization to ensure streamlining, effective and efficient operation, associated with restructuring, improving the quality, and effectively using Bao Minh's staff.

Accordingly, on March 11, 2025, the Board of Directors of Bao Minh Joint Stock Corporation approved Resolution No. 0364/2025-BM/HĐQT on the Project to renovate and reorganize the apparatus. The project was quickly implemented by Bao Minh's Executive Board and completed on March 20, 2025, with the new organizational structure officially operating from April 1, 2025.

Mr. Vu Anh Tuan - Member of the Board of Directors, General Director of Bao Minh Joint Stock Corporation announced the Decisions on organizational structure and personnel work.

Streamline the apparatus, increase decentralization, delegation of authority, and streamline processes to improve performance, effectiveness, and efficiency.

With the most important purpose of streamlining the apparatus, improving performance, effectiveness, and efficiency of operations associated with restructuring, improving quality, and effectively using the staff, Bao Minh's new organizational structure will reduce 6 departments (from 22 departments and divisions at the Head Office to 16 departments and divisions), equivalent to 27% of the focal points. The streamlining ensures that the necessary management and control functions are maintained, while cutting down on intermediary steps, overlapping functions and tasks.

Regarding the personnel structure, Bao Minh will reduce the number and proportion of indirect staff, especially those in the Department and Division structure with intermediate management functions at the Head Office. The adjustment of the personnel structure aims to focus human resources on direct business activities, while preparing the mechanism and resources to receive high-quality personnel. Accordingly, the number of personnel at the Head Office will be reduced by about 15%. At the same time, Bao Minh will continue to review the structure and quality of personnel to streamline personnel in accordance with the policies of the Party and the State as well as in accordance with the specific situation of the enterprise.

In addition, in response to the urgent need for a lean organizational revolution, Bao Minh's Board of Directors identified that promoting decentralization and delegation within Bao Minh would be a key factor, creating a driving force for development, a prerequisite for organizing a "lean - lean - strong - efficient - effective - efficient" apparatus. Strengthening decentralization and delegation is also a content that Bao Minh's Board of Directors has focused on implementing and promoting in the past time. However, with the lean organizational revolution, in the coming time, Bao Minh's Board of Directors will continue to promote decentralization and delegation in all activities of the enterprise, to both maximize the initiative, self-determination, self-doing and self-responsibility of the subjects receiving decentralization and delegation, while still ensuring unity, synchronization, efficiency, effectiveness and efficiency in the management of the entire system.

Thus, although there is a significant streamlining of the focal points and number of personnel at the Head Office, the synchronous application of solutions such as increasing decentralization and delegation of authority; researching, adjusting and streamlining processes with the orientation of promoting the application of information technology and digital transformation; clearly defining functions and tasks, avoiding duplication will contribute to enhancing creativity and initiative in work, expecting to increase labor productivity, work efficiency, enhance the sense of responsibility of employees in particular and enhance the efficiency - effectiveness - effectiveness in the operations of Bao Minh in general.

Ensure workers' rights

In the context of the rapid and drastic implementation of the renovation and reorganization of the apparatus, Bao Minh has also fully and carefully assessed the legal and labor relations factors arising from the renovation and reorganization. Ensuring the rights of employees is one of the most important requirements set by Bao Minh.

All Bao Minh employees subject to reassignment will be assigned jobs that are appropriate to their expertise, experience, and personal circumstances. Bao Minh will also have a support mechanism for transferred employees to ensure their rights and benefits are in accordance with regulations.

Customer centric

The innovation and reorganization of the apparatus not only meets the requirements of Bao Minh's administration and management but also aims to grasp the general development trend of the insurance industry.

With a suitable human resource structure, Bao Minh aims to continue to improve customer experience and enhance the quality of staff directly exploiting and caring for customers. In the near future, Bao Minh will also add high-quality staff to strengthen research and development of pioneering solutions and products in the Vietnamese non-life insurance market.

Expected to be an important and core force in socio-economic development, maximizing advantages and competitiveness, state-owned enterprises in general are facing great challenges, especially the requirement to innovate management thinking, constantly update, mobilize, and quickly implement the general policies of the Party and State.

For Bao Minh, the innovation and restructuring of the organization not only demonstrates the awareness of the urgency and correctness in implementing the Party's and State's guidelines and policies, but is also a strategic step in the context of a rapidly changing economy. Not stopping at the arrangement of the Headquarters apparatus, Bao Minh will continue to research and implement solutions to rearrange the entire system of member companies, in order to maximize advantages and contribute positively to the overall development of the insurance industry and the economy.

PV