F11-055 - Thanh Kim Ngan.v.1.1.docx

46 branch organization chart board of director

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4.6 Branch Organization Chart Board of director Investmen t committee Manage r Customers manager Board of director Financia l manager Marketing
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5.1 Issues Related to Workforce Planning Workforce planning plays a crucial role when it comes to establishing and running an organization. Every company needs a good workforce to operate smoothly and successfully. In order to make good WFP, many things must be taken in to consider, like the demographics, labour market trends, and the availability of skilled employees. This will help when you need to classify your workforce to have good strategy for each worker. Also, companies should consider government regulation as well to have better policies 5.2 Types of Labour Market, Labour Market Trends A labor market is that the place wherever staff move with one another within the labor market, employers contend to rent the most effective, and also the employees contend for the most effective satisfying job. It has three difference types: internal labor market, external labor market and occupational labor market. Based on the last United Nation estimates, the population of Viet Nam is about 96 million, of which 86% are ethnicity minorities and the remaining 10% are ethnic minorities (CIA Factbook, 2017). With a population of over 90 million, labor is plenty and also cheap as well. This can be a set-back for the organization looking for potential quality workers. Vietnam’s economic growth has been pretty steady in the last few years, with a GDP growth rate of 6,8% and GDP of $220.41 billion. Proportion of individuals in active age (Trading economics, 2018). The fact that Vietnam’s economy is stable in developing, opening a new branch is ideal and have high chance for success. With stable
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economy, the interest rate will be stable as well. Hence, a new branch should be a success. According to Chu, 70% of the workers and 6% are elderly, he pointed out that only 12% are graduated and only 2-3% are the unemployed (Chu, 2017) 5.3 The Internal Labour Market With the leading banks in Viet Nam, the company should recruit staff for each position of each department. To make it easier for company to grasp the situation, it is preferable for staff with 5-10 years’ experience to ensure high productivity and high income. 5.4 Analysing Turnover, Stability and Retention Analysing Turnover : is the effect of using the company’s expenditures for a period of time Monthly turnover = Employees separated/Average number of employees x 100% The reason why employees want to quit job maybe it due to their health and they do not have economic conditions. (Pavlou, 2018) Definition of retention Retention is the possession of direct control under the central government aimed at increasing job satisfaction and reducing costs when training new employee.
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