F11-041 - Nguyen Thi Hong Lien.v.1.1.docx

Vietnam have low unemployment rate and low propotion

This preview shows page 20 - 21 out of 27 pages.

Vietnam have low unemployment rate and low propotion of degree holders, so hiring skilled worker could be difficult. However,with a large population, many people in working age and unemployment among degree holders, Vietnam can supply a young, abundant and quality human resource in the labour maket, one should be able to find adequate entry-level employees. Thereforce, recruting employees into the Vietinbank’s new branch can be easy and successful. 5.2. The Internal Labour Market. Recruting internally for positions would advantageous for Vietinbank, because Vietinbank has abundant workforce with about 23,000 employees (Owler, 2018). Hiring internal staff longtime, experienced is the good recommendation for Vietinbank which reduces the risk of employing the wrong person, make sure smooth operationsis, high performance. 5.3. Analysing Turnover, Stability and Retention. Turnover is the number of employees leaving an organisation in a certain time period, it show as a propotion of total human resource number (CIPD, 2014). This can be calculated by: Turnover rate = number of workers who quit ÷ average number of workers *100. According to Liu (2014), the reasons employees quit job is that they want to have income and career development opportunities and their favorite change over years. CIPD (2014) also pointed out that employee retention which an employer retains its workers and the percentage of retention employees can be measused through a stability index. This can be calculated by: Retention rate = number of staff with service of one or more year’s ÷ total number of staff in post one year ago * 100. 5.4. The Impact of Legal and Regulatory Frameworks One of the highlighs in the Labour Law of 2012 is that women get a rest 6 months before and after birth. In the case of twins or more, from the second child onwards,the mother is off for a month for each child (Nguyen, 2012). With regard to wage policy, Labour Law of 2012 defines the minium wage as the lowest rates paid to staffs who work in the simplest form. Besides, working time no more than 8 hours a day
Image of page 20

Subscribe to view the full document.

and 48 hours a per week (Nguyen, 2012). 5.5. Advances in Technology With the technology development, recruitment becomes simpler and easier than before. One can use cloud-based HR Programs, Recruitment Apps and social media recruitment. Cloud recruitment software is great solution for business with a small budget, because they do not pay a lump sum up front. 6. The approach to recruitment and selection, development and training, performance management and reward systems . HRM includes recruitment and selection, development and training and so on in the organisation. Recuitment is process of attracting enough individuals who have appropriate qualifications to fill vacancies of organisation 6.1. Sources of recruitment There are two recruitment ways in business: Internal recruitment is using current employees to fill up empty positions in business. The way save price and time in recruitment process, it is promotion opportunitiy for employees. They is familar with business’s operations, so business can achieve high
Image of page 21
You've reached the end of this preview.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern