Báo cáo thực tập tốt nghiệp HUMAN RESOURCE MANAGEMENT SYSTEM AT MB SHINSEI CO., LTD

Báo cáo thực tập tốt nghiệp HUMAN RESOURCE MANAGEMENT SYSTEM AT MB SHINSEI CO., LTD Major International Business Administration HUMAN RESOURCE MANAGEMENT SYSTEM AT MB SHINSEI CO , LTD Full na.

FOREIGN TRADE UNIVERSITY FACULTY OF BUSINESS ADMINISTRATION *** GRADUATION INTERNSHIP REPORT Major: International Business Administration HUMAN RESOURCE MANAGEMENT SYSTEM AT MB SHINSEI CO., LTD Full name Student ID Class Intake Supervisor : : : : : Cao Dinh Kien, Ph.D Hanoi, May 2018 ACKNOWLEDGEMENT The studies described in this report were performed at the Faculty of Business Administration, Foreign Trade University While conducting this research, I received support from many people in one way or another, without whose support, this report would not have been completed in its present form It is my pleasure to take this opportunity to thank all of you for providing me with the intention and possibility to complete this field research First, I would like to express a special gratitude to my instructor, Mr Cao Dinh Kien, who opened the door for me to explore research directions and choose the routes that I wanted to study Your encouragement, excellent guidance, creative suggestions, and critical comments have greatly contributed to this report Furthermore, I would also like to acknowledge with much appreciation the crucial role of the board of directors and staff at MB Shinsei Finance Co., Ltd, who gave me the permission to use all required document and the necessary materials to complete my internship report My sincere thanks go out to you all for creating such a pleasant working environment Thank you all very much! Hoang Le Nam Hanoi, May 2018 TABLE OF CONTEN ACKNOWLEDGEMENT .i TABLE OF CONTENT ii LIST OF ABBREVIATIONS iv LIST OF FIGURES v LIST OF TABLES vi RATIONALE OF THE STUDY vii CHAPTER 1: INTRODUCTION TO MB SHINSEI 1.1 MB Shinsei 1.2 History and Development progress 1.3 Vision and Mission of MB Shinsei .3 1.4 Operations and Business 1.4.1 Personal Cash Loan 1.4.2 Consumer Durable Loan .5 1.4.3 Two Wheeler Loan 1.5 Organizational Structure 1.6 Recent Business Performance CHAPTER 2: THE SITUATION OF HUMAN RESOURCE MANAGEMENT SYSTEM AT MB SHINSEI 2.1 Overview of Human Resource Management 2.1.1 Definition of Human Resource Management .9 2.1.2 Objectives of Human Resource Management 2.1.3 Roles of Human Resource Management 10 2.2 Human Resource Management System at MB Shinsei 10 2.2.1 HR Business Partner 11 2.2.2 Implementation of HR Business Partner at MB Shinsei 16 2.3 Evaluation of Human Resource Management System at MB Shinsei 27 2.3.1 Achievements .27 2.3.2 Disappointment 30 2.3.3 Opportunities and Challenges 31 CHAPTER 3: RECOMMENDATION FOR MB SHINSEI .33 3.1 3.1.1 Direction for development .33 Business Plan 33 3.1.2 3.2 Direction for Human Resource Management at MB Shinsei .34 Proposed solutions to MB Shinsei 35 3.2.1 Lack of HR Staff 35 3.2.2 Scope of management 36 3.2.3 Lack of Technologies 36 3.2.4 International Organization for Standardization (ISO) 37 CONCLUSION 38 REFERENCE 39 APPENDIX 40 LIST OF ABBREVIATIONS Abbreviations Explanation BOD Board of Directors CEO Chief Executive Officer CFO Chief Financial Officer CHRO Chief Human Resource Officer CIC Credit Information Center COE Center of Expertise Co.,Ltd Limited Company CV Curriculum Vitae GD General Director HR Human Resource HRBP Human Resource Business Partner HRM Human Resource Management ISO International Organization for Standardization IT Information Technology L&C Laboratory & Checkout MB Military Bank SAP ERP SAP Enterprise Resource Planning LIST OF FIGURES Figure 1-1: Five Advance Features of MB Shinsei Figure 1-2: Organizational Structure of MB Shinsei .6 Figure 2-1: Balancing the HR Business Partner Job 12 Figure 2-2: Transformational Model of HRM .14 Figure 2-3: Transformational Model – Door of HRM 15 Figure 2-4: Number of Headcount 16 Figure 2-5: Staff Cost of MB Shinsei 17 Figure 2-6: Total New Hired in Month 18 Figure 2-7: Number of Turnover in Month 18 Figure 2-8: Turnover Rate, Voluntary & Involuntary Turnover Rate .19 Figure 2-9: Disciplinary of MB Shinsei 19 Figure 2-10: Develop and Open Job Requisition – Process map 20 Figure 2-11: Post Job Vacancy – Process Map 22 Figure 2-12: Test Candidates – Process Map 23 Figure 2-13: Interview Candidate – Process Map 25 Figure 2-14: CIC, Blacklist and Reference check – Process Map 27 LIST OF TABLE Table 1-1: Financial Number of MB Shinsei Table 2-1: Affected Division / Department / Teams .20 Table 2-2: Develop and Open Job Requisition – Detailed Procedure 21 Table 2-3: Post Job Vacancy – Detailed Procedure 23 Table 2-4: Test Candidates – Detailed Procedure 24 Table 2-5: Interview Candidate – Detailed Procedure 26 RATIONALE OF THE STUDY Today, the business environment becomes more competitive on a global scale with the development of technology The increasingly intensive competition is actually changing the way businesses are conducted The pace of innovation and the tendency to cut production costs require businesses to focus on how to mobilize all human capital resources This is the realm of human resource management Human resources can be valued as one kind of capital which brings competitive advantage to a company’s bottom line Although information technology and machines gradually substitute for human beings in many aspects, we cannot deny the irreplaceable role of human resource in any organization It is almost impossible to replace the role of people in managing all activities of a company An efficiently run human resource department can provide an organization with structure and the ability to meet business needs through managing the company's most valuable resource - its employees In Vietnam, the role of human resource management is underestimated Many people only know that human resource department is the one which has responsibility to process paperwork related to human resource In fact, the department does much more than that and it is a critical part of the success of the company Actually, I had a chance to research on a finance company named MB Shinsei and I realize that from the very beginning, this finance company had implemented a human resource management system which is called Human Resource Business Partner This is a modern approached recently in Vietnam This inspired me a lot to a profound research on actual situation of human resource management at MB Shinsei So, I have decided to choose the topic: “Human Resource Management System at MB Shinsei Finance Co., Ltd” to my final internship report with focus on development and usage of called Human Resource Business Partner CHAPTER 1: INTRODUCTION TO MB SHINSEI 1.1 MB Shinsei Company : MB Shinsei Finance Co., Ltd Name Head Office : 12nd Floor, TNR Tower, 54A Nguyen Chi Thanh, Ba Dinh, Hanoi Working hours : Monday – Saturday (8:00 to 18:00) Phone : (+84)24 710 86 888 Email : dvkh@mcredit.com.vn Website : https://mcredit.com.vn/ MB SHINSEI Finance Co., Ltd (Mcredit) has changed its legal form from MB Finance Company Limited Liability – Single member under the Decision No 1965 / QD-NHNN dated 21/09/2017 of the State Bank of Vietnam The chartered capital of MB Shinsei as of February 2018 is 800 billion VND MB Shinsei Finance Co., Ltd aims to be a consumer finance company that is convenient to the people and is preferred by customers among a wide range of consumer financial services, to meet the needs of low-income customers from urban to rural The main products of MB Shinsei are: Cash Loans and Installment Loans, with superior product advantages, quick approval procedures, dedicated after-sales service, competitive interest rates and extensive network which help MB Shinsei quickly approached a large number of customers in a short time MB Shinsei promotes the application of digital technology not only in operations but also in the marketing of services and reach customer in a comprehensive way, minimizing the level of human interaction, helping customers experience the service faster and more convenient MB Shinsei always invests in dedicated staff, builds a highly productive and professional working environment, and develops a corporate governance and risk management model to ensure safe and sustainable development MB Shinsei believes that with solid fundamentals from the major shareholders namely Military Bank (MB) and Shinsei Bank (Japan), the strategic direction is clear, the ingenious leadership, full of enthusiasm and a young, dynamic staff, MB Shinsei will bring the best products and services to customers and partners, aiming to become one the best Consumer Finance Companies trusted in Vietnam 1.2 History and Development progress MB Shinsei Finance Co., Ltd (formerly known as MB Limited Liability – Single Member Company) was established in accordance with the Establishment and Operation License No 27 / GP-NHNN issued by the State Bank of Vietnam on 04/02/2016, owned by Military Bank (MB) with 100% charter capital On March 10, 2016, Hanoi Authority for Planning and Investment granted a business registration and operation license for the organization On November 21, 2004, MB signed a joint venture contract and a contract in which stated that MB transfers its shares with its counterpart Shinsei Bank to increase its financial strength and prestige in the consumer finance market in Vietnam On December 14, 2016, MB officially launched the brand MB Shinsei (Mcredit) in Vietnam MB hold 51% of charter capital while Shinsei Bank hold 49% of it At that time, the charter capital was estimated around 500 billion VND After only a year of operation, MB Shinsei has grown to be a leading finance company, with around 3,000 employees and partners, 04 offices in Hanoi – Haiphong – Danang – Ho Chi Minh, operates around 36 provinces and cities nationwide, serving millions of Vietnamese people through the mortgage loan of products and service 1.3 Vision and Mission of MB Shinsei MB Shinsei Finance Co., Ltd positions its brands as an organization that provides simple and easy-to-access financial solutions to Vietnamese people HR executives play an important role in managing the firm’s human assets, those which possess the greatest potential for being a source of sustainable competitive advantage To be more specifically, it provides guidance regarding the management of the HR function in organization in ways that create competitive advance The organization will be able to address the following issues: - Define the organization’s key strategic drivers and predictors of future success - Define the specific competencies (knowledge and skills) that will be needed to drive the business in the next two to five years, based on the strategic plan - Define the managerial leadership competency model that is used in selection, performance appraisal, talent review, and developmental activities for the current and future leaders of the organization - Choose leadership development interventions which the organization adopt to meet its future pipeline objectives - The organization have a “leadership pipeline” to ensure a flow of qualified candidates for key positions - Identified which roles are critical to achieve the organization strategy and how many Overall, MB Shinsei has considered Human Resource Management as a vital part for company The company has invested in improving this system for sustainable development However, human resource management system at MB Shinsei still has many problems such as lack of HR staff, … In Chapter 3, the author will point out solutions for HRM system at MB Shinsei to make it efficiently or to have better results By improving the role of HR function, MB Shinsei has opportunities in the development of a highly engaged workforce as a sustainable competitive advantage 33 CHAPTER 3: RECOMMENDATION FOR MB SHINSEI 3.1 Direction for development 3.1.1 Business Plan After a year of doing business under the Mcredit’s brand name in Vietnam, MB Shinsei Finance Co., Ltd has obtained the achievements This further affirms the right strategy that MB Shinsei is pursuing - a Japanese consumer finance company that understands and trusts the Vietnamese MB Shinsei's presence is expected to take a bold move along with the competitive "substance" in the now-vibrant consumer finance market In the next years, MB Shinsei board of directors is looking for sustainable development The company main target is to become a powerful economic entity, continuing to maintain its position on Vietnam market and planning to expand the operation of company, increasing the revenue to approximately 900 billion VND By 2023, MB Shinsei is planning to become Top of Finance Companies in Vietnam To fulfill its goal, the company will take measures to stabilize and develop, enhance professional skills, create breakthrough in productivity and focus on developing products of high economic value Efforts to develop for customer satisfaction, contributing to the prosperity of Vietnam and the region with the most modern and convenient products and services for human life In 2019, MB Shinsei set a strategic goal to become the top five consumer finance companies that are safe and efficient Specifically, MB Shinsei will focus on improving existing products and will develop new products and services based on the characteristics of each customer group In addition, MB Shinsei continues to drive multi-channel development in order to outreach customers and take advantage of online marketing channels and partnerships In March 2018, MB Shinsei launched a telephone counseling service and got a good response from the market when the first customers signed up for the loan For traditional access channels, from now until the end of the year, MB Shinsei plans to expand its network to 752 service locations in 51 cities 34 In addition to continuing to improve the quality of our existing products, in 20192020, MB Shinsei plans to develop a niche product strategy which tailored to its segment, periodically and locally These products have higher tech content and are sold on many channels with the goal of providing customers with convenient services at competitive costs With the advantage of the Military Bank's customer base and the understanding of this segment of customers, MB Shinsei has developed a loan package for motorbike hire purchase loans and equipment purchases High-tech products for active servicemen such as army officers, professional soldiers and defense workers After effective pilot implementation in provinces / cities: Hanoi, Hue, Saigon, Dong Nai and Dong Thap, we will continue to expand to 51/64 provinces by June 2019 and 64/64 provinces in 2020 This is a proof for the success of MB Shinsei's individual customer segmentation 3.1.2 Direction for Human Resource Management at MB Shinsei With the aim of orienting business development as above, the company considers human resources as a particularly important factor It can be also considered as the capital or the property of the business Among many responsibility of Human Resource Management, MB Shinsei would like to focus the most on Training and Recruitment to improve the quality of workforce The strategy to use the workforce is always linked to the business strategy of the company Accordingly, in the year of 2020, MB Shinsei has set a target for training and recruitment the human resources of the company are: The first, conduct training according to actual needs, gradually develop measures to identify scientific and precise needs, improve training regulations, develop uniform training materials for new employees, training on the basis of the requirements of the job that the employees have the capacity, qualifications and skills to meet the development requirements of the company The second, training staff qualified in terms of professional The quality of management staff and technical staff is increasingly improved, professional 35 expertise, knowledgeable in other fields related to industry, current work To have highly qualified managers have capability, skills with high political qualities, especially important positions of the company's leaders The third, training a contingent of good workers who are well disciplined, abide by the rules and regulations that the company sets out, have good working behavior To achieve the target, the company has set a number of training orientations to 2020 in particular: - Complete the training of staff to suit the requirements of the company - Building a system of training suppliers which have prestigious and high quality - Improve the capacity of the staff of the training - Strengthen the ability to coordinate across levels, departments within the company to better perform the training - Apply the advances of information technology to the training 3.2 Proposed solutions to MB Shinsei From all disadvantages listed in Chapter 2, the Lack of HR Staff is the most serious issue It has directly bad effect on the operation of the organization and need to change as soon as possible Moreover, any issues related to HRM are to be considered, forecasted to avoid bad consequences 3.2.1 Lack of HR Staff As mentioned above, MB Shinsei has problem in lacking of HR staff needed for operation The organization not have enough HR Staff to process all the work, which lead to a situation that the work is left behind, waiting to be done Besides, the organization are in stage of developing, expanding business network so that the amount of work is continuously increasing To resolve this problem, MB Shinsei has to recruit employees as HR staff to share the work, support to handle all work related to human resource The organization has to choose suitable candidates who has characteristic, qualification, career orientation to be recruited Then, by 36 carefully training and working under supervisor of manager, these “fresher” would become high quality employees as well as a valued capital of the company On the other hand, maintain high quality human resource is also very important to avoid lack of HR Staff Competent staff, that does not mean they work well So how employees loyal to the company, your best and always try to find creative ways to achieve higher productivity, quality and efficiency? It is the science and artistic leadership of the administrators Motivation will make workers become more excited, more enthusiastic at work, they are more self-conscious There are variety of way to motivate employees namely incentive, empower, opportunities for advancement, … The key to successfully motivate employees is that the managers have to know exactly what their employees really need or expect from the job 3.2.2 Scope of management MB Shinsei needs to improve the management capacity of human resource departments at branches Each branch has its own department which is able to resolve every issue related to human capital occurred in the assigned area This human resource department has responsibility to report all problems to the department at the head quarter in Hanoi In this way, the branch’s unit will share the work, support the headquarter unit in managing human resource Moreover, the organization can manage human resource closely, avoid the unfortunate incidents, handle any problem as soon as possible To that, MB Shinsei needs to recruit more HR staff in each branch, then give them training courses to improve the level of staff Then, they should distribute the HR Staff in a reasonable way based on the quantity of job, the scope of management to achieve the greatest labor efficiency 3.2.3 Lack of Technologies Workforces will become frustrated if they not have the technology they need to deliver what the organization wants There are many technology tools that could help employees in their daily tasks, to make it easier and smoother With support from technology software, HR staff could submit or sign documents via online, 37 manage data, create united document forms, … Besides, employees may feel it professional when they are working with the IT support Hence, it increases the productivity as well as cost saving for the organization 3.2.4 International Organization for Standardization (ISO) There are banks or finance companies which have achieved the ISO certificate in Vietnam For example, VietinBank had reached ISO 9001:2015 in Quality Management System on 21/12/2017 in Hanoi TPBank had passed difficulty round of ISC Global to become the first bank in Vietnam to successfully achieve ISO 20000 about Information Technology It proves that MB Shinsei need to improve its quality to deliver the best products to customer By having ISO certificate, MB Shinsei will gain trust from customer in the banking industry Moreover, it helps the organization’s system is compact, tight, efficient and fast Generally, business activities are operated and controlled by human and that is the reason why human resource is a core value of every organization from the smallest to the largest ones However, it seems not to be simple to manage an effective workforce to meet the requirements of a company Therefore, human resource management activities are regarded as the starting point for success of the company For four recommendations above, author wants that his suggestion can make a little contribution to the Human Resource Management at MB Shinsei Author hopes that the company’s Human Resource Management System will be greater, better and more efficient 38 CONCLUSION During the 12 - week internship at MB Shinsei, I am strongly exposed to the great chance of bringing paper knowledge into practices and gaining an approach to the real working environment in the field of HR Business Partner I hope this report, despite its limited length and professional capability of the writer, can partly help reduce the drawbacks and contribute to the idea scanning process of MB Shinsei with a view to building up human resource management system I had learned a lot regarding how this business sector operates and how this company managed to gain its position in all these years As an organization, MB Shinsei is gaining a global market penetration through its quality of product and services One of the strongest factor of this company is they focus highly on quality management and not only that, they are also up to date They use latest technologies on requirement which is very good Along with the strong development of science and technology, economic globalization, the human factor and human management issues are being paid more and more attention as the main determinant of development The organization had recognized the importance of human resources for the survival and development of the company At the same time understand the training human resources is the best way to effectively use such human resources, MB Shinsei has been and more focused on the training of human resources to obtain a team of qualified and skilled workers is required to meet the increasing demands of work and the firm development of the company in today's competitive economic environment To sum up, this report has finished its mission in illustrating, analyzing and mentioning some recommendation for MB Shinsei in human resource management to get a better result This company is in a stable position, its market hold is also very strong; the business is in growth stage In conclusion, MB Shinsei has a long way ahead and with the vast knowledge of their HR professionals Although they will face up with more and more difficulties ahead but author believe that if they can maintain their wide range of workers properly with right managerial skills and maintain the standard they set, they can 39 overcome any difficulty themselves Soon they will shift from growth stage to maturity stage REFERENCE Chaffey, D (2015) Digital Marketing USA: Pearson Education (6th Ed.2015) Dave Ulrich, Human Resource Champion: The Next Agenda for Adding Value and Delivering Results (1996) Dr Gary Dessler, Florida International University (2013), Human Resource Management (13th Ed.2013) David A DeCenzo, Stephen P Robbins (2003); Human Resource Management (6th Ed.2003); Wiley Edward E Lawler, Achieving Excellence in Human Resource Management: An Assessment of Human Resource Functions (2009) Edward E Lawler, Effective Human Resource Management: A Global Analysis (2012) Fisher, Schoenfeldt, Shaw (2005); Human Resource Management (6th Ed,2005) General Statistics Office of Vietnam (2016) Area, population density and population growth in 2016 Hubspot (2014) Search Engine Optimization Statistics Available from http://www.hubspot.com/marketing-statistics [accessed 17 July 2016] 10 Interconnected World (2012) Shopping and Personal Finance Statistics 11 Ken N Kamoche, Understanding Human Resource Management (2001) 12 Krishnan, Sandeep, Strategic Human Resource Management: A Three-Stage Process Model and Its Influencing Factors (2011) 13 Noe, Hollenbeck & Gerhart, Wright (2003), Human Resource Management: Gaining A Competitive Advantage (4th Ed., 2003); McGraw-Hill Irwin 40 14 Ministry of Planning and Investment of The Socialist Republic of Vietnam (2015) Vietnam per-capital income by 2016.] 15 Jennifer M George and Gareth R Jones, Understanding and Managing Organizational Behavior 41 APPENDIX APPENDIX A: JOB REQUISITION 42 APPENDIX B: POST JOB VACANCY 43 APPENDIX C: EXCEL TEST FOR SALE ADMIN 44 APPENDIX D: CANDIDATE’S EVALUATION SHEET 45 APPENDIX E: CIC AND BLACKLIST 46 APPENDIX F: HR DEPARTMENT’S HEADCOUNT AT MB SHINSEI 47 ... SITUATION OF HUMAN RESOURCE MANAGEMENT SYSTEM AT MB SHINSEI 2.1 Overview of Human Resource Management 2.1.1 Definition of Human Resource Management .9 2.1.2 Objectives of Human. .. research on actual situation of human resource management at MB Shinsei So, I have decided to choose the topic: ? ?Human Resource Management System at MB Shinsei Finance Co., Ltd? ?? to my final internship... human resource management system at MB Shinsei to understand more about the system and its advantages as well as disadvantage CHAPTER 2: THE SITUATION OF HUMAN RESOURCE MANAGEMENT SYSTEM AT MB