ASSIGNMENT 1 FRONT SHEET

Qualification BTEC Level 4 HND Diploma in Business

Unit number and title Unit 3: Human Resource Management

Submission date 20/2/2023 Date Received 1st submission

Re-submission Date Date Received 2nd submission

Student Name Tran Xuan An Student ID GBH210960

Class GBH1115 Assessor name Nguyen Thi Minh Hang

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I certify that the assignment submission is entirely my own work and I fully understand the consequences of plagiarism. I understand that
making a false declaration is a form of malpractice.

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Contents
1. Introduction ............................................................................................................................................................................ 4
1.1 Introduction about this report ........................................................................................................................................... 4
2. Introduction about the company ......................................................................................................................................... 4
2. The analysis of how industrial characteristics, and HRM strategy are related....................................................................... 5
2.1. characteristics of the banking industry ............................................................................................................................ 5
2.2. Relationship between the banking industry and HRM .................................................................................................... 6
3. A presentation of the company’s Digital Business Transformation. An explanation of how it leads to HRM changes is to
be presented................................................................................................................................................................................ 6
3.1. digital transformation ...................................................................................................................................................... 6
3.2. Digital transformation has impacted business activities ................................................................................................. 7
Digital transformation in HR and other fuction: ................................................................................................................ 7
1. Customer service department ......................................................................................................................................... 7
• As technology replaces many past vocations, redundant individuals are created. ............................................................. 8
• Because supply exceeds demand, candidates have several choices. .................................................................................. 8
• Because technology continually evolves, it is challenging for human resource managers to identify good individuals
with new technologies. ............................................................................................................................................................... 8
4. A proposal of the talent acquisition strategy to support this plan, mainly concerning specific activities of employer
branding, recruitment and selection, and onboarding. ............................................................................................................... 8
4.1. Emplpyer branding .......................................................................................................................................................... 8
4.2. Selection .......................................................................................................................................................................... 9
4.3. Onbroading ................................................................................................................................................................ 10
1. Trainning ...................................................................................................................................................................... 10
2. Positioning the value of employees .............................................................................................................................. 10
4.4. Recuitment ................................................................................................................................................................ 11
.4.4.1. Domestic recruitment strategy............................................................................................................................... 11
4.4.2. International recruitment strategy .......................................................................................................................... 11
5. Critically evaluate the strengths and weaknesses of talent acquisition strategy in relation to creating sustainable
organizational performance, achieving business objectives, and the importance of the labour market in Vietnam. ............... 12
6. Conclusion............................................................................................................................................................................ 12
References ................................................................................................................................................................................ 13
 1. Introduction
1.1 Introduction about this report
This report is to explore HRM practices in conjunction with digital transformation. I will examine, analyze, and
present well-supported arguments on tactics for HRM elements such as, but not limited to, attracting individuals,
retaining workers, and digital transformation, as well as make some recommendations on a variety of business
difficulties based on several sources, points of view, and views from numerous.

Human Resource Management in the firm play a vital part of organization, even more important than Sales,
Marketing, and other functions …..so on. HMR is in charge of attracting and recruiting people, as well as
encouraging work performance and growing the core team. core, enhance staff, create welfare policies, etc. The
contemporary setting of the HRM business in Vietnam, particularly in the 4.0 age, when the Internet is
flourishing and new equipment is supporting it. Human resource management 4.0 is more adaptable. Recruiting
and managing staff is made easier and more straightforward by technology. Through managerial capability and
company culture, employers' mindset increasingly shifts toward focusing on recruiting branding.

2. Introduction about the company

Techcombank, which was founded in 1993 and has its headquarters in Hanoi, is one of the major joint stock
commercial banks in Vietnam and one of the top banks in Asia. Techcombank has received several accolades in
recent years from renowned worldwide organizations such as Euromoney, Global Finance, Wells Fargo, Bank of
New York Mellon, AsiaRisk, Finance Asia, and Global Banking and Finance Review, among others.
Furthermore, the bank has received renowned HR awards such as Best Place to Work in Asia, Top 2 Best Places
to Work in Vietnam in Banking Industry for 5 Consecutive Years (2016-2020), Vietnam HR Awards, and The
Most Attractive Employer Brand to Vietnamese Students. With the corporate statement "Beyond every day,"
Techcombank is dedicated to providing opportunities for customers, partners, and staff to achieve their
aspirations uniquely (Techcombank annual report, 2021).

BUSINESS GOAL

Techcombank's ambition is to rank among the top ten largest banks in the area (Jens Lottner CEO of
Techcombank, 2021).

VISION

Transforming the financial sector and increasing the worth of life; inspiring each individual to realize their full
potential and have the confidence to pursue extraordinary goals (Techcombank annual report, 2021).
 MISSION

Leading the financial industry's digitization journey, enabling individuals, businesses, and organizations for long-
term growth and success (Techcombank annual report, 2021).

Source: Techcombank website (n,d)

2. The analysis of how industrial characteristics, and HRM strategy are related
2.1. Characteristics of the banking industry
The banking industry includes systems of financial institutions called banks that help people store and use their
money. Banks offer clients the opportunity to open accounts for different purposes, like saving or investing their
money. The banking industry is also valuable to the economy, as it provides resources for individuals, families,
and organizations to use for transactions and investments. One way that the banking industry does this is by
organizing and distributing loans for applicants that they can use for purposes like purchasing property, starting a
business, or financing a college education (Indeed Editorial Team, 2021).

There are many different sorts of banks on the market, but the most common form of the bank right now is a
commercial bank. Commercial banks are a type of intermediate financial organization Combining a variety of
operations and services, Attracting money initially through deposit mobilization, issuing promissory notes and
bonds, and then using this capital to create production and business loans, consumer loans, and income loans.
Attract money by mobilizing deposits, issuing promissory notes and bonds, and then using this cash to provide
commercial loans, consumer loans, and so on. Techcombank is currently one of the largest commercial banks in
Vietnam and has been prominent in Southeast Asia in recent years. Techcombank is one of the 15 largest banks in
Vietnam right now, after Vietcombank, BIDV, Vietinbank, and Agribank. Techcombank is presently one of
Vietnam's leading commercial banks and has gained prominence in Southeast Asia in recent years. Techcombank
 is presently one of Vietnam's leading commercial banks and has gained prominence in Southeast
Asia in recent years. Techcombank has the second biggest equity in Vietnam, at 109.899 billion dong
(Techcombank annual report, 2021), trailing only Vietcombank's 128.389 trillion dong (Vietcombank
Consolidated Financial Statement, 2021)

2.2. Relationship between the banking industry and HRM

Because banking is a service sector, human resource management is critical. Banks have two major challenges:
people management and risk management. Your ability to manage people and risk will determine your banking
industry's success. Human resources and finance are often treated as independent business units in many firms (K.
C. Chakrabarty,2012). Finance assists in allocating resources to achieve corporate goals while maintaining a
balance between expenditures and revenues. HR recruits, recruits, and inspires employees to work toward the
same goals (Milian. V, n,d).

In the digital transformation age, the Human Resources Department is responsible for recruiting, promoting,
dismissing, punishing, suspending, and... with the position, role, and type of work position in the organization.
Implement measures to recruit and retain people, such as Techcombank's wage and bonus program, to foster a
positive working environment. Techcombank has a plan for creating a healthy working environment, which
allows them to establish a competitive edge in recruiting compared to other banks. Furthermore, Techcombank is
constantly updating new technologies and implementing digital transformation in HR, such as employing a
variety of application software to manage their personnel.

3. A presentation of the company’s Digital Business Transformation. An explanation of how it leads to HRM
changes is to be presented.
3.1. Digital transformation
According to Salesforce (n,d) to meet changing business and market requirements, digital transformation is the
process of employing digital technology to build new — or adapt current — business processes, culture, and
consumer experiences. Digital transformation is the redesigning of business in the digital era. It extends beyond
typical jobs like sales, marketing, and customer support. Instead, digital transformation begins and ends with how
you perceive and interact with consumers. With digital technology on our side, we have the opportunity to rethink
how we conduct business — how we engage our customers — as we go from paper to spreadsheets to smart
applications for business management. There is no need for small enterprises that are just getting started to build
up their business procedures and then alter them afterward. You can future-proof your company from the start.
Building a 21st-century firm on sticky notes and handwritten ledgers is just not feasible. Digital thinking,
planning, and building positions you to be nimble, versatile, and ready to develop.
 3.2. Digital transformation has impacted business activities
Techcombank has always been a leader in digital transformation in the banking industry in Vietnam, and one of
their missions, "Techcombank has a mission to lead the digitalization journey of the financial industry, creating
motivation for each individual, businesses, and organizations to develop sustainably and successfully break
through," demonstrates how important digital transformation is to techcombank and how quickly it has adapted to
it. Techcombank has led the way with significant investments in digital banking platforms, implementing the
ambition to modernize the financial sector, increase the value of life, and collaborate with important partners to
deliver more digital financial products to clients. mine. Techcombank thinks that practical values ranging from
financial digitalization to corporate governance would be an effective ally for firms on their digital transformation
path (Minh Thanh, 2022). Techcombank has established itself as a leader in digital transformation in the banking
industry in Vietnam by introducing a method to digitize previously inconvenient services, such as digital savings
and investments. When the pandemic disrupted many people's banking activities at branches and transaction
offices, online savings became an optimal alternative. Clients frequently want to manage their savings and
investments in a single location, thus Techcombank has linked "TCBS" with the Techcombank Mobile app,
allowing users to execute both operations effortlessly and efficiently (Techcombank annual report 2021).

Digital transformation in HR and other fuction:

1. Customer service department
Techcombank's customer service department previously only responded to customers' opinions at the counter
or via hotline, but since the digital transformation, they have received customer feedback through many
means such as messages on Facebook and the website,... and they receive feedback 24 hours a day.

2. Marketing
Techcombank's communication and promotion initiatives were limited to outdoor billboards and television.
Techcombank's communication operations have been more diverse and accessible to many younger people
since the digital transition, through social media such as Facebook, Instagram, and YouTube...

3. Human resource management

HRM at Techcombank has applied tools in the digital transformation era to help businesses manage human
resources more effectively, the HRConnect platform digitizes all officers' and employees' HR processes through
an easy-to-use, contemporary, and intuitive interface, as well as homogenizes the human resource data
management process. We are becoming better at "listening, understanding, and acting," strengthening HR
information's strategic importance in achieving business success. The HRConnect platform is divided into three
modules, which are as follows: Core HR – put into operation in 2021, Training Management System (LMS) – put
into operation in 2021, Payroll – to be launched in 2022, To improve the employee experience, we launched the
LMS and Core HR systems, as well as the SAP business planning software, in just 8 months. The online training
classes were attended by about 6,000 individuals, including 1,000 management-level personnel, with satisfaction
ratings of up to 90% (Techcombank annual report, 2021).

This is both a challenge and an opportunity, particularly for HRM in the 4.0 age and during Vietnam's digital
transition phase:

Opportunity:

• The search for candidates becomes easier as more diversified personal career information is available on
the network than previously.
• There are more methods available to convey your recruiting requirements to applicants, such as fanpages,
groups, or content issues of interest to candidates.
• There were several startups in the recruiting services industry. Increasing the diversity and adaptability of
the recruiting ecology.
• Human resource management software. Make it simple for HR managers to evaluate employees. FPT
iHRP of FPT, Hronline, and so forth.

Threat:

• Retain Millennials because technology is constantly evolving and adaptation is challenging.

• As technology replaces many past vocations, redundant individuals are created.

• Because supply exceeds demand, candidates have several choices.

• Because technology continually evolves, it is challenging for human resource managers to identify good
individuals with new technologies.

4. A proposal of the talent acquisition strategy to support this plan, mainly concerning specific activities of
employer branding, recruitment and selection, and onboarding.
4.1. Emplpyer branding
Vietnam Technological and Commercial Joint Stock Bank (Techcombank) is the only Vietnamese bank to have
received an international Stevie Award in the area of "Best Place to Work 2021 - Banking Industry" [Employer of
 the Year 2021 - Banking]. Techcombank has been rewarded with this prestigious award for the
second year in a row, with the award ceremony slated to take place online from New York on November 17,
2021.This is the

consequence of the bank's persistent policy of putting people first which has been driven by the goal of
"Transforming the financial sector, improving the value of life" over the years .Techcombank's human resource
planning and recruitment tactics are always targeted at pushing each person to unleash their potential and act
courageously towards exceptional things, consequently motivating consumers. and plan for long-term growth and
success," stated Ms. Nikki Dang My Quyen, Director of Techcombank's Human Resource Management Division
(Techcombank, 2021).

The Silver Stevie Awards "Employer of the Year 2021 - Banking" is Techcombank's most recent honor in
2021. The Stevie Awards trophy has been presented in over 60 countries to date, with over 1,000
professionals receiving it every day. Earlier, Techcombank was named "Asia's Best Place to Work," "Top
2 Best Workplace in Vietnam for Banking Industry 5 Years Consecutive (2016 - 2020) - Vietnam HR
Awards 2020; Top 50 Employer Brands Attractive to Vietnamese Students 2020," and "Asia's Best Place
to Work." This reflects the Bank's strategic strategy with three pillars "Talent - Data - Digitization" to
effectively accomplish the purpose of "Transforming the financial industry - Elevating the value of life"
(Techcombank, 2022).

4.2. Selection
Employee selection is a key phase in the HR department of Techcombank. The hiring procedure is divided into
two stages:

Round of applications: Techcombank's recruiting department will examine individuals who meet the Bank's
standards based on the CVs submitted by the candidates.

Take the test: Candidates who pass the profile stage will be given IQ, EQ, and general economic knowledge
assessments.

First interview: Candidates will be separated into groups of three to interview.

Second Interview: Applicants will be interviewed by two Techcombank employees.

Third interview: Based on the circumstances, the employer will inform the candidate in detail.
Techcombank probation period If you pass all of the above steps, you will be notified of your approval and will
be required to sign a contract with Techcombank. Nevertheless, there are two processes to becoming a
Techcombank official: Probation usually lasts 1-2 months, The challenge might run between 3 and 6 months.

4.3. Onboarding
1. Trainning
Techcombank continues to provide competitive compensation and bonus schemes in order to sustain the
projected pace of hiring and retaining personnel. With this aim in mind, we concentrate our efforts on
strengthening compensation packages for the sales force group (Sales, frontline), comparing pay structures by job
family to the reference market, and developing long-term bonus programs for workers (Techcombank annual
report, 2021).

• Training depending on the position

Through two major efforts, we are happy to have completed the design of the learning path for 104 roles, utilizing
the competence framework as the basis and the capacity assessment technique (HRB5 and WBS1): IT team, Data
Team, Data Analyst, Data Science Engineer, Business Development and Consulting Team (Techcombank annual
report, 2021).

• Training program for leadership

Techcombank has created Leadership Development Programs based on five degrees of leadership: self-mastery,
leading others, managing others, leading the unit, and leading the organization. The program "Changing Mindset"
is based on the Franklin Convey model - "Seven Effective Habits" - to develop leadership capability at the Self-
Mastery, Lead Others, and Lead Management levels. The "Techcom Managers" program is intended to advance
participants to the level of Leading Others. We will continue to implement the following programs in 2022:
"TechcomLeader" refers to Management Leadership, "Future Leaders Program" refers to Unit Leadership, and
"TechcomHero" refers to Organizational Leadership (Techcombank annual report, 2021).

2. Positioning the value of employees

Techcombank has created and implemented an exceptional Customer Value Positioning strategy (CVP).
Techcombank's Employee Value Positioning (EVP) is applied to recruit the greatest talents in the market, with
the purpose of awakening each employee's "Amazing Courage" in the path of building and career growth at
Techcombank. The firm is committed to providing the finest experience for all workers by offers under four EVP
pillars: Culture and Working Environment, Work Performance, Record Recognition and Reward, Training and
Development. Based on a thorough understanding of the market, Techcombank will continue to provide the
greatest offers and values for its staff, which is constantly connected and devoted to the company, allowing
Techcombank to flourish. continues to maintain its status as "The greatest place to work in Vietnam".

4.4. Recuitment
.4.4.1. Domestic recruitment strategy
1. IT and data

• Organize career seminars with the participation of leaders in industry, introducing attractive career
opportunities at Techcombank, especially in the field of IT, data, and project management
(Techcombank annual report, 2021).

2. The young talent recruitment program includes (Techcombank annual report, 2021):

• Recruitment at the university

• Hackathon Contest (Hackathon is a programming competition event in which computer programmers
and others participate in software development)

3.Data array internship program

• Management Trainee Program - Techcombank Future Gen Business development and consulting
team (Frontline)

4. The young talent recruitment program includes (Techcombank annual report, 2021).:

• Sign a Memorandum of Understanding with major universities, specifically the Faculty of Finance
main bank, in order to attract potential students
• Implement PRM and SRBO training programs to recruit new excellent bachelors from leading
universities in Vietnam for Sales position, the frontline of the Bank's bank

4.4.2. International recruitment strategy

Techcombank put out the red carpet for 4,375 candidates, seeking top executives from both foreign and domestic
sectors. 90% of the bank's new workers indicated satisfaction with the employee integration program. According
 to a Korn Ferry poll, we were in the top 6% of Southeast Asian firms in terms of staff performance
and the top 12% in terms of level of engagement (Techcombank annual report, 2021).

5. Critically evaluate the strengths and weaknesses of talent acquisition strategy in relation to creating sustainable
organizational performance, achieving business objectives, and the importance of the labour market in Vietnam.
Through analyzing and evaluating techcombank's HR strategies, it is possible to see their outstanding strengths
such as a healthy working environment which has been proven by the many awards they have won and the
strategy to build Techcombank's working environment. The training program is clear for each department, at
Techcombank each department will have a separate and detailed training schedule. The HR department is at the
forefront of digital transformation in the banking industry in Vietnam, giving businesses an advantage over rival
banks. Recruiting international personnel, this extensive recruitment program helps companies to recruit more
quality employees. But at the same time, there are still some weaknesses in Techcombank's HR department that
need to be overcome such as the limited number of employees, the total number of Techcombank's employees is
more than 12 thousand people (Techcombank, 2021), compared to other competitors such as Vietcombank with
more than 20,000 employees (Vietcombank, 2021), MBBank with more than 15,000 employees (MBBank,
2021), Agribank with more than 40,000 employees (Agribank, 2021) and Vietinbank with more than 40,000
employees (Vietinbank, 2021), the HR department at Techcombank needs to have recruitment plans to improve
the quantity and quality of the business. International employees do not grasp the market, demography, and so on
in Vietnam as well as domestic employees, this is reasonable and can be overcome entirely through training
programs and experiences actual market experiences in Vietnam. The last thing to overcome is the common
property in the whole Vietnamese market, which is the candidate for digital transformation in the banking
business in Vietnam, which is currently scarce in both quantity and quality, knowledgeable personnel Digital
transformation is rare, causing businesses in the banking industry to compete for the best personnel. However,
this is also an advantage for Techcombank because they are considered one of the banks with preferential
treatment. According to VTV news (2022), Techcombank pays the average income to employees up to 44 million
VND/month, far exceeding the average income level industry average. Moreover, Techcombank received the
"Most Attractive Employer" award from Career Builder and Insight Asia (Techcombank annual report 2021),
which validated Techcombank's recruitment brand and provided the company with a significant edge in terms of
recruiting and attracting fresh talent.

6. Conclusion
This study demonstrates the critical importance of human resource management in the organization of the Joint
Stock Commercial Bank for Industry and Trade of Vietnam. Human resources are crucial to Techcombank's
operations, especially considering its massive worldwide workforce of managers and employees. Using specified
 sources of information and journals, the researchers determined the roles, duties, goals, and
functions of human resource management at Techcombank in the study dependable period. So proving the role
and appropriateness of the human resources department in successfully managing human resources and increasing
revenues for the company's development.

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