ASSIGNMENT 1 FRONT SHEET

Qualification BTEC Level 4 HND Diploma in Business

Unit number and title Unit 3 Human resource management

Submission date 03/10/2022 Date Received 1st submission

Re-submission Date Date Received 2nd submission

Student Name Nguyen Phuong Anh Student ID GBH210887

Class GBH1111 Assessor name Nguyen Thi Minh Hang

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 TABLE OF CONTENTS
A. Introduction ................................................................................................................................................................4

B. Body ............................................................................................................................................................................4

I.Introduction of Techcombank's overview, mission, vision, operations and business strategy ...........................4

II. Analyze the relationship between Techcombank's industrial characteristics, business goals and HRM
strategy ...................................................................................................................................................................5

1. Techcombank's industrial characteristics, business goals ......................................................................... 5

2. Techcombank's human resource strategy ................................................................................................. 5

3. The relationship between Techcombank's HR goals and strategies ..........................................................6

III. A presentation of Techcombank’s Digital Business Transformation ................................................................7

1. Digital transformation in business ..............................................................................................................7

2. Benefits of digital transformation in business ............................................................................................7

3. HRM related to Techcombank's digital transformation .............................................................................8

IV. A proposal of the talent acquisition strategy to support plan Techcombank .................................................. 9

1. Techcombank's employer branding ........................................................................................................... 9

2. Techcombank's recruitment and selection ................................................................................................ 9

3. Techcombank's onboarding ..................................................................................................................... 10

V. Critically evaluate the strengths and weaknesses of Techcombank’s talent acquisition strategy .................10

1. Strength .................................................................................................................................................... 10

2. Weakness ..................................................................................................................................................11

C. Conclusion ................................................................................................................................................................ 12

D. Reference ................................................................................................................................................................. 12
A. Introduction
Human resource management is the design of systems of policies and activities that attract training and
development of people in an organization to ensure the effective use of human talents to realize
organizational goals (My, 2022). Finding the right people to assign the right jobs to the right positions is a
concern for all types of organizations today. In order to increase labor productivity and improve optimal
efficiency, the selection, placement, training and mobilization of personnel within an organization are of
paramount importance. This report looks at talent in terms of business goals, strategies, and key
resources for digital transformation in today's world. Talent acquisition is related to employer branding
and top talent selection to identify the strengths and weaknesses of talent acquisition campaigns to
achieve business goals and vision the importance of human resources in companies.

B. Body

I.Introduction of Techcombank's overview, mission, vision, operations and business strategy

Techcombank is the fastest growing bank today. With many incentives and excellent service quality,
Techcombank has won many customers who trust and like our service. Techcombank officially started
operations in 1993 with his 20 billion VND charter capital (Techcombank, 2020). "Transforming finance
and improving value living end provides each with features and a control panel for great people," said
Techcombank, which continues to deliver superior value to customers and shareholders for future.
Techcombank's mission is to digitally manage financial institutions and motivate individuals, businesses
and organizations to successfully develop scanners. Techcombank continues to overcome difficulties to
become Vietnam's leading stock trading bank reaching 1 million new customers. Outcomes of a
Transformational Journey Techcombank will continue to build and invest to deliver exceptional value to
its customers. Techcombank believes that continued investment in developing talented people will bring
Techcombank great success. The bank has set its transformation goals for the next five years by investing
in three main pillars including data, digitization and talent. The establishment of the Data and Analytics
Division will enable Techcombank to maintain its leadership in applying data and 'making a difference'
compared to other divisions. Techcombank's Board of Directors will bring together an experienced and
skilled senior management team to lead the effective execution of its strategic objectives as it embarks
on a major transformation of the bank over 2021-2025 (Techcombank, 2020).
II. Analyze the relationship between Techcombank's industrial characteristics, business goals and HRM
strategy

1. Techcombank's industrial characteristics, business goals

The banking industry is a very important part of the economy as it provides important financial services
to both consumers and businesses. Banks create liquidity in the markets where money is created and
help maintain the money supply (Hoang, 2020). Banks offer consumers both face-to-face and 'online'
services with higher interest rates and lower fees. Convenience, interest rates, and fees are some of the
factors that help consumers choose their preferred bank. Every success of the construction and
development of the country has extremely proud imprints of the banking industry. The Vietnamese
banking system, with its glorious tradition, also strives to actively innovate itself, to meet the increasing
requirements in the current era of deep international integration. All of these things have firmly
strengthened the position of Vietnam's banking industry, built and maintained strong trust among the
people and business community. The world is changing very quickly and the banking system is making
great efforts to reform administration, apply science and technology and transform digitally, contributing
to minimizing cash spending in the economy banks have minimized the cash economy.

Techcombank's plan is to build a solid foundation with a focus on developing digital, data and talent
platforms. The bank will continue to focus on developing digital platforms to capitalize on
macroeconomic trends across the industry that are helping Vietnam become one of the most efficient
markets in the world. At the same time, Techcombank will continue to offer market-leading digital
banking solutions and services to its growing customer network. Techcombank's main goal is to enable
Vietnam and businesses to access and use digital banking services more conveniently. By experimenting
with new approaches and implementing technology, Techcombank will be able to better serve its
individual and institutional customers according to their needs. A more efficient business model will also
help banks attract more new customers by offering clear solutions to their customers and expanding
their range of services (Techcombank, 2020). To keep evolving, Techcombank must keep abreast of new
needs and trends in the financial services industry in a timely manner and innovate to meet customer
expectations.

2. Techcombank's human resource strategy

Human resources are the key to the Bank's success. Accordingly, Techcombank's human resources
strategy is to attract, develop and retain talents (Techcombank, 2020). The Bank's business strategy is
enhanced through education and leadership development, a set of training programs to improve
business skills. In the midst of the COVID-19 pandemic, the Bank has changed from traditional training
methods to online courses while trying to ensure that all employees are equipped with the skills and
expertise to meet the needs clients as well as develop your own career.

During COVID-19, Techcombank has provided a safe working environment ith the ability to work
remotely, ensure income for employees, and more, the bank continues to recruit the best technology
experts in Vietnam and the world. Techcombank believes that the human resource is the backbone of
our 5-year transformation. Over the past year, Techcombank has welcomed 37 senior leaders and top
experts to join Techcombank from around the world such as the US, Australia, Germany, Singapore and
India, of which 10 are members of the Board of Directors. Techcomers are increasingly attached to the
organization as shown by the average seniority in 2020 is 4.8 years, of which, 51% of employees have
seniority of more than 3 years and 36% have seniority of more than 5 years (Techcombank, 2020). The
turnover rate of the excellent talent segment at Techcombank was at 4.3%, lower than in 2019.

In order to successfully implement Techcombank's 2021-2025 digitalization strategy, the Human

Resources Division has begun its own 5-year transformation journey to align with the bank's overall goals.
Techcombank continues to improve the capacity of its human resources team to become a strategic HR
partner for all units and provide insights into human resources to help bring success to the unit and
business. One of our goals is to transform the employee experience through a digital platform that helps
manage HR programs and processes more efficiently (Techcombank, 2020).

To accomplish the above goals, we recently invested VND 174 billion in the Human Capital Management-
a modern Human Resource Management system to improve the overall staff experience (Techcombank,
2020). Digitization has been made clear and powerful by changing the way HR processes work to deliver
operational excellence with faster turnaround times for HR services.

3. The relationship between Techcombank's HR goals and strategies

Business strategy and human resource strategy are two inseparable contents of business development
strategy, a tool to successfully implement business strategy thanks to the right orientation to create
suitable systems and people suitable to maintain sustainable internal capacity for the enterprise. HR
strategy is an important part of business strategy (Bao, 2022). HR strategy focuses on detailed and
specific planning of resources to implement set business goals. To implement the business strategy
synchronously, all functional departments in the enterprise have detailed implementation plans in line
with the agreed business strategy. With the connecting nature, the human resource strategy is one of the
important contents and helps in the detailed implementation of specific items in the business strategy,
which is deployed after the contents of core competencies and determination clear. Techcombank's
human resources team is very efficient, not only helping the business units to operate effectively, but
also providing timely practical implementation plans in terms of human resource management for senior
management team can adjust macro strategies in time. HRM strategy also helps businesses get the
necessary preparation in terms of people before fluctuations from the market. HR Manager will make
analyzes and predictions to have a plan to prepare personnel with appropriate capabilities and
experience, in order to best serve the accomplishment of business goals (Techcombank, 2020).

III. A presentation of Techcombank’s Digital Business Transformation

1. Digital transformation in business

Digital transformation is the far-reaching and fundamental transformation of all aspects of society -
economic life using data and digital technology, fundamentally transforming the way people work and
business models and provide new added value to our customers (Dx, 2022). Digital transformation brings
new business processes, customer experiences, and changes in company culture. Businesses must
constantly change, try new ways to meet market expectations, and be free to make mistakes.

2. Benefits of digital transformation in business

Digital transformation is of great importance to the development of businesses as it enables them to

scale effectively, improve their performance and reach their customers easily at optimal cost. Digital
transformation not only helps improve productivity, reduce transportation costs, but also opens up new
development spaces and creates new value alongside its inherent traditional value (FPT, 2022). Digital
transformation is the objective process of changing the way we think and perceive, gradually changing
the way we live, work and produce based on digital technology.

Digital transformation helps businesses open up new ways to understand information and customer
needs, improve customer experience, speed up processing and create incentives to generate superior
revenue thanks to applications increase. We use technology in-house to maximize resource potential,
connect related departments, automate processes, save time, optimize human resources and reduce
operating costs.

Digital transformation helps companies employees access vast amounts of data. Track all kinds of metrics
process efficiency, funnel conversion rates, customer lifetime value, customer satisfaction, and more.
The application of digital transformation helps companies save maximum cost and human resources.

Digital transformation supports connecting all employees across departments, enabling them to interact
and share more information. With the use of an automated business management platform,
departments can easily exchange all kinds of information and documents anytime, anywhere.

A digital platform is a necessary prerequisite for enabling companies to work more efficiently, accurately
and with higher quality. Digital Transformation 4.0 tools are being developed to meet the modern needs
of customers, and businesses must find the right solutions to enhance their experience and meet the
needs of their current and future customers future (Techcombank, 2020).

In addition to streamlining internal processes, the rapid development of technology and available
resources has changed the needs and requirements of customers(Techcombank, 2020). To stand out
from the crowd, companies need access to more data and faster analytic to attract and retain customers.

=> At Techcombank, the digitization of financial banking platforms should not compete with the rise of
fintech. Digital transformation is all about giving your customers the best possible experience.
Techcombank is always at the forefront of technological innovation. Looking at the number of customers
who come to Techcombank through electronic trading channels, this number is very impressive
compared to many other banks. Technology drives life. For example, we tend to think that wealth
management products are only for the rich. However, today's technology has made it possible to provide
these solutions at a lower cost. Thanks to data, Techcombank understands its customers many times
better than before. Techcombank aims to become the best financial institution in Vietnam when it comes
to using technology and data to understand customers. After Techcombank does this, it simply trains its
employees on how to use data to continuously develop better solutions for their customers.
Techcombank strives to find talent, pool resources, collect data and transform it into customer
behavioral information and ultimately into solutions. Techcombank takes personnel matters very
seriously and recruits top talent market leader in the data industry.

3. HRM related to Techcombank's digital transformation

HRM is closely related to the process of digital transformation. Part of the success of digital
transformation is that HRM provides solid strategy and analytics. At Techcombank, employees who agree
and use digitalization make digital transformation successful (Techcombank, 2020). Digital
transformation in human resources management is the process of changing Techcombank's working
methods, organizational culture and human resources management. Traditional ways of working are
being replaced by the application of digital tools to increase productivity, save time, and improve
accuracy in performing HR tasks. HRM will work with the division to guide Techcombank through its
digital transformation and support its digital growth. Employees have a digital mindset to improve work
processes and increase productivity.

IV. A proposal of the talent acquisition strategy to support plan Techcombank

Human resources are the backbone of the 5-year transition by Techcombank. At Techcombank, our
employees are our most valuable asset because we believe every employee's success is his
Techcombank's success. The Human Resources Department has played a key role in supporting the
growth of the Bank's workforce.

1. Techcombank's employer branding

People are a bank's most valuable asset. An investment in people is an investment in a sustainable future.
This is not the first time Techcombank has discussed putting people first, and it will not be the last as it is
the bank's long-term strategy. With comprehensive salary, bonus and welfare policies tailored to meet
the market competitiveness with many talent segments, we can fully meet the needs of employees.
Employees are assured to dedicate themselves to the bank, continuously improving to develop
themselves in order to achieve outstanding results for themselves and the Bank. Opportunities for formal
training in insurance products, finance and banking, and in-depth sales skills to become a professional
financial services advisor. Social security, medical insurance, health insurance, 13th month salary,
performance bonus available. Take part in national and international tours. Techcombank provides
further training in agile, digital and design thinking to equip employees with advanced knowledge of
products, processes and digital technologies. In addition, it also expands job opportunities, which are
increasingly promoted and developed in accordance with each function of the bank.

2. Techcombank's recruitment and selection

Techcombank prefers candidates who have experience in customer service, familiarity with the
preferred bank's products and services, excellent communication skills, negotiation skills, responsiveness,
good teamwork and good manners professionally. Techcombank clearly describes in the job posting,
competitive salary and creates an attractive working environment to attract and retain talented people.
Techcombank ensures competitive salaries, transparent and scaled pay policies to attract and retain top
talent. The bank has strengths in corporate welfare compared to other companies in the same industry.
Banks should simplify the recruitment process because talented employees are always sought after. A
cumbersome recruitment process can cause businesses to lose talent to competitors. Additionally, a
candidate's negative experience can spread throughout the hiring process, damaging the company's
reputation.

3. Techcombank's onboarding

Techcombank is one of the most working and educated banks in Vietnam. Techcombank creates an
attractive culture that attracts unique talent to the company. Good candidates need to work in an
environment of talented people and are attracted to talented leaders. Good employees want to be
challenged and recognized, and see challenges for managers, special learning opportunities that help
employees develop their careers and improve themselves increase. Techcombank offers its employees
career paths, expanded employment opportunities, creative leeway in the banking environment, and
further training through foreign-related courses. The training process helps the company identify
potential employees to become managers and experts in the fields of technology, marketing, and human
resource management to help Techcombank develop comprehensively and effectively. On the other
hand, Techcombank's departments are linked together to create a comfortable environment to help each
other to improve communication skills, teamwork and expand employment opportunities in departments
that are suitable for each other workers' work. At the beginning, you will have a support person to help
you adapt to the job and the company's environment. After a probationary period of one month, the HR
department will ask if you are truly satisfied and suitable for the position at the company. The
department will evaluate you as a long-term employee with the company and determine whether to
continue to bring you to new jobs as the company grows.

V. Critically evaluate the strengths and weaknesses of Techcombank’s talent acquisition strategy

1. Strength
Techcombank is now cementing its position as a leading bank by attracting national and international
talent to join the bank's transformation journey. Attracting the best talent is critical to achieving the
bank's ambitious goals, especially as all banks pursue digital transformation.

The bank creates the best working environment with many opportunities for employees to develop their
skills, add value and build successful careers. Techcombank recruits, develops and retains the best
candidates. We have created clear career paths that motivate our more than 11,000 employees to do
their best for the company (Techcombank, 2020). Competitive salaries and bonuses, as well as
professional training – skills are definitely a worthwhile investment, especially for the future of individual
employees, and for the bank as a whole. Additionally, banks are focused on building and promoting a
“customer-centric” culture, building and adopting new agile ways of working and working environments,
and fostering ever-changing mindsets new and innovative to stay ahead.

Techcombank is proud of its success in building a culture of learning and development to support the
professional development of its employees. The bank quickly turned to e-learning and developed a range
of in-house courses on a digital platform where employees can learn safely and conveniently. Also in
2020, Techcombank plans to offer more Agile, Digital, and Design Thinking courses in line with
Techcombank's vision and strategy.

Techcombank's salary, bonus and benefits programs are designed according to market best practices and
are designed to be more competitive than the market standards of domestic banks and multinational
corporations Vietnamese. Comprehensive salary, bonus, and social policies tailored to many talent
segments enable you to comprehensively meet employee needs. Techcombank designs compensation
policies to attract, motivate and retain top talent (Techcombank, 2020). Short-term and long-term bonus
programs focus on timely recognition of outstanding individuals who have made significant contributions
to the bank's success.

2. Weakness

In Vietnam, the training process has not met the needs of enterprises in the industry, leading to a
shortage of high-quality personnel. Although there are many IT graduates each year, very few have the
right competencies to actually work in technology companies. The key factor for IT staff is technical
competence and implementation, not qualifications ( Pham, 2022). Especially with the trend of digital
transformation in companies, the number of human resources required to carry out digital
transformation tasks is enormous. Therefore, the shortage of human resources in the information
technology industry is mainly due to the increasing demand of the market over the past year, especially
for qualified personnel, high-quality personnel and senior personnel at the enterprise.

Due to the shortage and scarcity of IT personnel, there is always a need for high wages, corresponding to
their capacity and contribution. However, not all companies can meet this requirement, so recruiting
staff, especially her IT professionals, has become even more difficult given the increasingly scarce supply.
Enterprises still need to change their IT personnel, to have a more attractive regime, to attract and retain
talented people. On the other hand, when the salary and bonus system is increasingly enhanced, creating
new premises will certainly gradually stimulate the supply to increase over time.

Foreign-affiliated companies are hiring high-quality human resources who have been trained according
to the roadmap, with reasonable salaries and high compensation systems( Pham, 2022). The personnel
work in Vietnam and are paid the same as abroad. This is an opportunity for young people but a
challenge for Vietnamese businesses when competing with international businesses, when globalization
and digital transformation are happening very quickly.

C. Conclusion

Techcombank is one of the most famous and fastest growing banks today. Techcombank has attracted
many customers each year, bringing them new experiences in digital transformation as well as the best
products and services in the market. This report shows that Techcombank has invested a lot in training
and attracting talent to the bank. The bank's human resources have created effective business strategies
and campaigns with high achievements in banks. The bank's staff is experienced and highly specialized,
so it has achieved the goal of digital transformation. Techcombank is a bank that invests in people to
create quality services for customers.

D. Reference

My, C. (2022) 'What is Human Resource Management? Roles, goals and meanings', September 15.
Available at: https://khoalichsu.edu.vn/y-nghia-cua-quan-tri-nguon-nhan-luc/

Techcombank. (2020). ‘Annual report 2020’.

Hoang, V. (2020) 'Characteristics of the banking industry', May 18. Available at:
https://vietnambiz.vn/ngan-hang-bank-la-gi-dac-diem-20200517111952967.htm
Nguyen, A. (2021) 'Vietnam's Banking System: Success and Expectations', May 5. Available at:
https://thoibaonganhang.vn/he-thong-ngan-hang-viet-nam-thanh-cong-va-ky-vong-114068.html

Bao, A. (2022). 'The secret to linking HR strategy and business strategy', April 11. Available at:
https://vtc.vn/bi-quyet-giup-gan-ket-chien-luoc-nhan-su-va-chien-luoc-kinh-doanh-ar687133.html

Dx. (2022). 'What is digital transformation??', April 12. Available at: https://dx.mic.gov.vn/docs/chuyen-
doi-so-la-gi/

FPT. (2022). 'Why do governments and businesses need digital transformation?', August 11. Available at:
https://digital.fpt.com.vn/tu-van/vi-sao-phai-chuyen-doi-so.html

Pham, D. (2022). ' Why are technology enterprises 'hungry' for human resources?', March 17. Available at:
https://vtc.vn/vi-sao-doanh-nghiep-cong-nghe-doi-la-nhan-su-ar665428.html