F11-085 - Tran Linh Trang.v.1.1.docx

In many studies showed that employee turnover and

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In many studies showed that employee turnover and employee retention has a close connection with each others. In today’s competitive business environment, skilled employees become the major discriminating factor for most organizations therefore managers have a serious concern in the face of ever lifting high employee turnover rate. 5.4. The Impact of Legal and Regulatory Frameworks Having operated the company safety, civilized and most rigorous, almost companies use the Legal and Regulatory frameworks. Law of labour 2012 ―provides the rights and obligations of the employee and the employer, the labor standards and the principles for labor use and management, thus contributing to the promotion of production (Legal Documents on Labor code, 2012). According to this, the employees’ salaries in state company have been reached to 90,000 VND/ month from 1,300,000 VND per month to 1,390,000 VNĐ/ month valid from 1 July 2018 (Koushan, 2018a). Follow, the minimum wage of Region II is approximately 3,530,000 VNĐ per month. In Vietinbank, the impressive average salary for employees per month (approximately 20 million VND) is a very huge factor to attract more people to apply for jobs, especially highly qualified candidates. (Pham, T.H, 2013) 5.5. Advances in Technology Thanks to advent of technology, all companies can easily control their works and employees by Cloud-based HR Programs with ease. They can be recruitment of labour by update position’s information through Internet or Email instead of interview face to face. Not only that, the schedule of daily working can be updated in the social media.
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