F12-038 - Nguyen Thanh Dong.v.1.1.docx

33 critically analysis the interrelationship between

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3.3 Critically analysis the interrelationship between various functions within Vietinbank and how they are interconnected to organizational objectives and structure of Vietinbank. The organization chart shows that every function of Vietinbank is strongly connected. Obviously, shareholder, board of directors, board of manager are all supported each other through connection between them. For example, risk manager is connected to committee in order to create policies to avoid or minimize risk, which help the bank business development. Another example is connection between customer support and product development. Customer support will hear complaint and compliment, analysis it and give the instruction to improve product. 4.0 Purpose of Human Resource Function Human Resource Management (HRM) can be defined as: „the process of employing people, training them, compensating them, developing policies relating to them, and developing strategies to retain them. (Open.lib.umn.edu, 2018 , p. ? ) 4.1 Key Roles and Responsibilities of Human Resource Function Human resource planning: foreseen the organization s future requirement for labour, skills and competences in order to make decision in recruitment, deployment, development, retention and so on in the future
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Talent management: Make sure the company draw talented people intention, retain, stimulate them for the needs of the company Recruitment: Finding application from quantity, type and characteristic of people based on the HR plan. Selection: Assessing and selecting employee best fitted the needs of the company from applicants. Retention: Provide maximum care, rewards plan and motivation Exit management: administering the expiry of contracts,, resignations, retirement, and dismissals relied on legal requirement, diminish the company costs and human costs (Mondy and Martocchio, 2015) 4.1 ‘Best Fit’ approach or ‘Best Practice’ Each company use their own practice to satisfy their own needs. While best practice follow the international standard which make sure the employees equally qualified. Conversely, „best fit refers to policies that an organization chooses to manage its company because historic factors, culture, and industry trends (Mondy and Martocchio, 2015).In conclusion, new branch in My Dinh should apply „Best Fit An example of best fit is hiring people with good qualification but no experience, versus people have normal qualification but high experiences because of the conception that the better background of a person, the higher productivity they are An example of best practice is choosing a transgender person based on the knowledge that Vietnam do not have legal protection for transgender so hiring a transgender imitate worldwide standard. 4.3 Hard and Soft models of HRM
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Soft model is defined as: „Soft management takes account of the emotional needs of employees treating employees as individuals. This type of management focuses on the roles, rewards and motivations of employees and plans accordingly (Chronologic.co.uk, 2018 , P. ? ). As we can see, Google, one of the biggest company in the world now, is using Soft HR in order to drive employees and improve the performance.
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