F11-073 - Nguyen Hoang Thang.v.1.1.docx

Security and janitorial services will be hired

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individuals, VIP. Security and janitorial services will be hired outside. 4.6 Branch Organization Chart Board Manager Asst. Mgr Customer Svc Mgr Head Cashier Cashie r VI P Company individual
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5.1 Critical Issues Related to Workforce Planning Workforce plan (WFP), defined as a process in which an organization attempts to estimate the demand for employees and evaluate the size, nature and source of supply that will be required to meet the demand. The organization needs to consider any type of workforce planning to meet the needs in terms of cultural ramifications of decision-making in recruitment and selection through the demographics, labor market trends, and the availability of skilled employees. 5.2 Types of Labour Market, Labour Market Trends Every single market must be applied into one specific country. There are some key considerations for the Vietnamese workforce include: Population – about 96 million (CIA Factbook, 2017) Number of employed labourers 53,7 million in 2017, the average national labour workforce – 76,9% (Vietnam Briefing, 2018) Workforce in the ages between 15 and 39 years took half of employed labourers (Vietnam Briefing, 2018) Trained workers – 21,5% of the total labour force in Vietnam (Vietnam Briefing, 2018) Ethnicity – 86% Kinh (CIA Factbook, 2017) Holders of degrees – about 12% (Chu, 2017) Unemployment in the working ages – 2,24 % (Vietnam Briefing, 2018) Unemployment among degree holders – 237,000 (Kim, 2018) Number of English speakers – 54% (Vietnam.net, 2016) In Vietnamese market, it is clearly to see that the skilled employees are lacked, facing with the impact of industry 4.0 and free trade argreement. According to Mondy and Martocchio
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(2016), the job s market required more than a degree to get offered for the internship even. Noticing that there are a lot of degree holders are unskilled and unemployed, the government provided vocational and technical training in order to creat an effective workforce market (Vietnam Briefing, 2018). In addition, the government affirmed in improving the economy with the highest growth rate of “6.81%” since 2011, encounraging domestic enterprises, especially VietinBank to develop (VietinBank, 2017). 5.3 The Internal Labour Market. Not to reduce the ROA, recruiting internally within approximately 23,000 current employees seem be most advantageous for VietinBank. It is highly recommend for 5-or-10 year- experience-staff to take internal job posting in order to operate smoothly, develop sustainably and high growth. 5.4 Analysing Turnover, Stability and Retention. Riley (2016) identified labour turnover as the ratio of employee leaving a company in particular period for some the following reasons: o Natural Wastaget: usually based on years of service to cut down for a cheaper option in shortrun, which means younger employees suffer from being laid-off (Sayed, Z., 2013).
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