F11-053 - Dao Hoang Nam.v.1.1.docx

4 increase in fdi inflows in the past 10 months 68 of

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Employment growth in Vietnam comes from a 37.4% increase in FDI inflows. In the past 10 months, 68% of businesses have business expansion needs. “Wages in many industries in Vietnam have doubled in the past five years” (Nh , ư 2018 ,p. ? ). Vietnam s GDP in 2018 is 6,7% and estimated will be higher in the following year, The size of the economy is estimated at VND5.55 trillion or US $ 240.5 billion. The economy will reach 5 trillion VND, or exchange to US $ 220 billion (N.A.Ng iđ ng ườ hành, 2018 , p. ? ) 5.3 The Internal Labour Market. With the resources of the market, the choice for recruitment for the new branch will be numerous. Apart from recruiting high quality candidates from external market, employees with 5-10 years of experience working in VietinBank will be on the table, to make sure new branch will operate smoothly, effectiveness and making profit 5.4 Analysing Turnover, Stability and Retention. (100 words) Analysing Turnover, Stability and Retention Turnover of employees in company or an organization refer to the number of staff who quit during a period due to some bad performance, absenteeism, etc, and in the end they will be forced leaving the company. There is one simple method but accurate to calculate the turnover rate, is simply take the number of turnover divide with number of employees (Study.com, 2018, cpt3, N.A)
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Maintaining the staff is more important the hiring a new one, the fact that the cost of training and developing is very high, but when there is one employee left, you will spend even more to recruit, to retraining and redeveloping, is cost both money and time for HRM department. There is some way to reduce that “Building respectful relationships with employees”(Rhatigan, 2018) : Maintaining the workplace is energetic and professional Hiring the right one in the first place Communicate with the staff The Impact of Legal and Regulatory Framework According to the Labor Law of Vietnam (2012), ever organization or a company employing more than 10 employees must register their labor regulations, depend on the field of activity(L c, 2018). Government also issued the Labor Code to make sure the fairness and benefits. The law also include the minimum wages is 3.530.000 VND per months, which is higher than 2017 6.3% (Ketoanthienung.vn, 2018) Advances in Technology We live in the revolution of 4.0, so the management can be a lot easier because of the advanced tech. Some trends that today HRM need to follow and maintain: Cloud-based HR: Cloud-based is the future of HRM, when standard paper-based or HRM system in the computer is outdated and contain a lot a data to process. Cloud-based help simplify and line- up all the staff info, workload of the HRM department (APS Payroll, 2018, para 1, N.A). Cloud can secure data of the staff, info about the company s financial statement, which is confidential for HRM only, external access will be restricted (Shah, 2018). Along with the
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advantages, the problem of cloud-based HRM is the reliance to the internet, and the cost for buying and retaining cost can be up to thousand (Ward, 2018) Mobile apps for jobs: jobs go, etc.
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