F11-049 - Dang Huong Ly.v.1.1.docx

Unemployment 2 3 chu 2017 number of people speaking

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Unemployment – 2 – 3% (Chu, 2017) Number of people speaking foreign languages – 54% (Vietnam.net, 2016) With the number of low unemployment and a decreased percentage of degree holders, there are too difficult for hiring skilled workers in any aspect. However, it is possible to find enough vocational employees when there is a high scale of unemployment among degree holders. Economically, Vietnam is capable of providing adequate thrived to support a new branch. In 2017, GDP obtained 6.81%, the highest in last years (Duong, 2018). The economic statistics support the Vietinbank’s generalship to keep expanding; thus, the new branch should be successful. Employment opportunities for accounting and finance will increase by more than 13% in the next decade to 2022, while chances for financial sector analysts are expected to increase by nearly 16% during this period (Nguyen, 2018).
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5.3. The Internal Labor Market. Vietinbank considers human resource development as the focus of its expansion strategy; hence, it would seem hiring internal of the company for all positions would be propitious for Vietinbank. For this reason, the recommendation is recruitment employees on the job internallywith a priority for new workers (5-7 years’ experience) to guarantee effective activities and high development. 5.4.Analyzing Turnover, Stability, and Retention Turnover ratio – it can be shown the number of assets or liabilities that the firm supersedes in relation to its sales. The concept is useful for determining the efficiency with which a business utilizes its assets ( Steven Bragg, 2018). According to a survey of 600 CEOs and Human Resources executives from leading Vietnamese companies organized by Anphabe, an average company lost 51% of its talents after joining the organization, Group of talent in enterprises this year is forecasted up to 20%, the highest in 3 years (Tien, 2018) Some reason why people quit: Profession headway or advancement chances: 32% Salary: 22% Unsuitable jobs: 20.2% Management or work environment: 17% Scheduling: 8% Employment security: 2% (Marcel Schwantes, 2017)
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Stability Measurement - Measurement stability is the change in bias over time. It represents the total variation in measurements of the same part measured over time. This variation over time is called drift “Minitab18, 2017”. Retention - is the ratio of staffs who stay. If you control sales and retention efficiency, the best way is to measure data for both. Measuring data can determine problems and set improvement goals (BrightHR, 2018). 5.5. The Impact of Legal and Regulatory Frameworks. Vietnam's Labor Law 2012 has been amended by the National Assembly and some regulations to ensure the interests of workers. One of the most important things is the leave time before and after childbirth of female workers is increased to 06 months instead of 04 months as current regulations. During maternity leave, female laborers are entitled to maternity allowance in accordance with the law on social insurance. In addition, the National Assembly has also amended a number of provisions on the salary of workers. The minimum salary is the lowest
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