Trang 1 UNIVERSITY OF BEDFORDSHIRESCHOOL OF BUSINESS---***---FOREIGN TRADE UNIVERSITYHO CHI MINH CITY CAMPUS---***---END-MODULE ASSIGNMENTModule: Managing People – S1Code: BSS006-1S.1ANA
1 UNIVERSITY OF BEDFORDSHIRE FOREIGN TRADE UNIVERSITY SCHOOL OF BUSINESS HO CHI MINH CITY CAMPUS *** *** END-MODULE ASSIGNMENT Module: Managing People – S1 Code: BSS006-1S.1 ANALYSIS HUMAN RESOURCE MANAGEMENT OF FPT SOFTWARE FOR EXAMINERS ONLY Student: NGUYỄN VĂN VĨNH PHÁT Student ID: 2245519016 Cohort: K60BF-C Semester: I Academic year: 2022-2023 Headteacher: Võ Thị Thanh Hằng Submission date: 6th April 2023 Student’s signature: Grade (in number): ……………… Grade (in words): ……………… Examiner (Signature & Fullname) ……………… Examiner (Signature & Fullname) ……………… Ho Chi Minh City, April 2023 UNIVERSITY OF BEDFORDSHIRE FOREIGN TRADE UNIVERSITY SCHOOL OF BUSINESS HO CHI MINH CITY CAMPUS *** *** END-MODULE ASSIGNMENT Module: Managing People – S1 Code: BSS006-1S.1 ANALYSIS HUMAN RESOURCE MANAGEMENT OF FPT SOFTWARE Student’s fullname: NGUYỄN VĂN VĨNH PHÁT Student ID: 2245519016 Cohort: K60BF-C Semester: I Academic year: 2022-2023 Lecturer: Lê Sơn Đại Ho Chi Minh City, April 2023 STATEMENT OF AUTHORSHIP Except where reference is made in the text of the end-module assignment, this assignment contains no material published elsewhere or extracted in whole or in part from an assignment which I have submitted or qualified for or been awarded another degree or diploma No other person’s work has been used without due acknowledgements in the end-module assignment This end-module assignment has not been submitted for the eveluation of any other modules or the award of any degree or diploma in other tertiary institutions Ho Chi Minh City, April 2023 Nguyen Van Vinh Phat Table of content STATEMENT OF AUTHORSHIP .3 Chapter : Introduction .5 1.1 Abstract 1.2 General information about the company 1.3 Mission – Vission 1.4 Business strategy 1.5 Human resource management practice Chapter : Mainbody 2.1 Training and development , Establishing pay structure .10 11 2.2 Analysis and design of work 12 12 .12 13 2.3 What I learn from those policies 13 Chapter : Conclusion .14 Chapter : References 14 Table of picture Document continues below Discover more Managing from: People Trường Đại học… 31 documents Go to course Tesla's Financial 26 Statement Analysis Managing People 100% (1) Final Managing 17 People PHAN THU… Managing People None Final assignment 13 Managing People None NHÓM Promotion: We… Managing People None Assignment2 instruction Managing People None Company Chapter : Introduction 1.1 Abstract Research Checklist Managing People In today’s cosmospolitian society , there are a lot of significant companies or corporations in technology field and FPT Software is one of them FPT Software recognizes that its people are its most valuable asset and seeks to preserve and grow this resource through human resource policy Although there are occasional human resource management challenges that have an impact on the company's operations, FPT Software prioritizes employee engagement and retention, as well as training In my essay, i wil discuss and describe about the human resource management practices of them as the case study 1.2 General information about the company Picture 1.1 Logo of The FPT Software Company Official name of company : Công ty TNHH phần mềm FPT Official name of firm in english : FPT Software Parent coporation : FPT Corporation Headquarter : 10 Pham Van Bach Street, Dich Vong Ward, Cau Giay District, Ha Noi City Phone : + 84 24 7300 7300 Chief Executive Officer : Pham Minh Tuan None 1.3 Mission – Vission Mission : We were and are consulting, providing, deployoing technology – telecommunications services and solution for the leading organizations in the world Vision : Our long-term objective is become to a digital company and among the top 50 global orginizations in delivering comperhensive digital transformation services and solutions by 2030 In order to achieve the aims, we are developing balanced and comprehensive programs and policies in three areas: business, technology, and people 1.4 Business strategy FPT Software is a major software business in Vietnam that offers a diverse variety of IT services and solutions to customers worldwide FPT Software has implemented a number of measures in order to preserve a competitive edge There are some way which FPT software implements their strategy : economic of scale, operational efficiency and technology adoption Economic of scale : + Revenue and profit : Revenue in 2021 is expected to be at 686 million USD, increasing 17.5% from the previous year This demonstrates that FPT Software has experienced consistent revenue growth + Customer and market : They have established a global name and presently service hundreds of consumers from a variety of nations Airbus, Panasonic, Siemens, Toshiba, Hitachi, NEC, Deutsche Bank, UBS, and Allianz are among the firm's clients Technology adoption : They engage substantially in product and service research and development in order to deliver complete solutions and suit the demands of worldwide clients Software development, data analytics, cloud technology, IoT solutions, security solutions, and project management are among the company's goods and services 9 Operational efficiency : FPT Software prioritizes operational efficiency in all aspects of its operations, from software development to project management Companies may cut expenses while maintaining quality by streamlining operations and avoiding waste At the same time, outsource some of the company's non-core operations to international partner firms According to the above policies, FPT Software is executing a cost leadership strategy, which has assisted the firm in optimizing costs and maintaining its competitive position in the global information technology service industry Customers expect and receive high-quality services at reasonable pricing 1.5 Human resource management practice Human resources are considered the most precious asset of enterprises in the 4.0 age, and FPT Software, one of Vietnam's top software corporations, is no exception To recruit and develop talent, as well as to establish a professional, dynamic, and creative working environment, the firm has implemented a highly effective and adaptable HR strategy Focusing on resource development is one of FPT Software's most essential initiatives This firm is always seeking for, hiring, and training fresh people to meet the demands of the company's growth Furthermore, FPT Software focuses on creating a positive working atmosphere to assist workers feel more at ease and inspired at work Our organization fosters a professional, dynamic, and creative work atmosphere and employs cutting-edge information technology to assist workers' efforts However, in the personnel policy of FPT Software, there are still some errors in training and developing human resources and establishing pay structure 10 Chapter : Mainbody 2.1 Training and development , Establishing pay structure In recent years, FPT Software is using the policy of recruiting young employees and training internally to serve the company's development goals Besides, People are always the most significant asset of FPT Company The employee training policy is interested in and supported in order to provide favorable conditions for workers to grow holistically in skills, capacity, and quality vocational training cultural activities Furthermore, in order to satisfy the demands of high-quality human resources, the enterprise's leadership and all workers must have a strong resolve to correlate training with real life Because technology needs ongoing invention and development, the FPT's organization encourages generations of employees to adopt a mindset of perpetual striving and learning in order to help the firm flourish In 2021, FPT spent about 1.7 million dollars on training programs and activities, with million training hours The company's trainers are industry specialists who have worked for the firm to train and deliver new human resources for many years + Instructors are chosen in coordination with other departments by the human resources department + Instructors are carefully chosen + Plan the creation of selecting criteria + Instructors are often engineers or workers with great professional credentials, responsibilities, and pedagogical abilities who have been with the organization for at least years + It is necessary to employ teachers with experience and a good reputation from vocational schools or universities 11 + The material of the company's training programs is created in an incredibly fair and rational and unique approach The training program includes lessons, textbooks, and documents delivered by teachers in partnership with human resources and professional people Their policy has some problems FPT software is pursuing a low-cost leadership strategy That means they must reduce their expenses Fpt software, on the other hand, invests extensively, even a lot of money, in their training procedure Unfortunately, despite significant expenditure, the training methods are outmoded and conceptually heavy, resulting in very low training efficacy and failure to meet the company's expectations Since then, FPT Software has always recruited individuals to match the company's demands However, there is a fact that the job hopping rate in genz is very high, because we can know that this generation loves to experience new things and cares about their own compensation And FPT software is also affected, with the turnover rate at around 10% The main reason comes from the level of compensation Picture 2.1 Salary comparison table by position of FPT software with companies in the same field Furthermore, the utilization of cash invested in training influences employee remuneration, resulting in a high turnover rate and the organization not yet recovering the invested capital 12 To begin, FPT software should have an acceptable, public, and transparent compensation and bonus regime to motivate staff to stay with the company for an extended period of time Furthermore, there are policies of long-term commitment to the organization with one of two common training applications in American companies, orientation for new employees Moreover, in order to reduce training costs, we must upgrade and modernize our training techniques There are several training options available, but apprenticeship and simulation are two of the best for a technological firm An apprenticeship is a work-study training technique that combines organized onthe-job training and classroom instruction to teach job skills A simulation is a training approach that simulates a real-life situation by having trainees make decisions that result in consequences that are similar to what would happen on the job Regarding the salary and bonus regime for employees, FPT should have an alternative policy of pay by job to optimize costs Organizations have responded to the limits of job-based compensation by shifting away from the relationship to employment and toward pay systems that reward individuals based on their knowledge and abilities Skill-based pay systems are pay structures that establish compensation based on an employee's degree of ability or knowledge and what they are capable of performing Paying for skills makes sense in firms because changing technology necessitates individuals constantly broadening and deepening their expertise Modern machinery, for example, necessitates operators to understand how to program and monitor computers to accomplish a range of functions Skillbased remuneration also helps to empower individuals and enhance occupations by encouraging them to expand their knowledge so they can make judgments in a variety of areas As a result, skill-based remuneration assists firms in being more adaptable and inventive In general, skill-based remuneration may foster a culture of learning and adaptation while also 13 providing employees with a more comprehensive understanding of how the firm operates These modifications should assist staff in making better use of their expertise and ideas A field study of a manufacturing company discovered that implementing a skill-based compensation system resulted in higher quality and cheaper labor expenses 2.2 Analysis and design of work As previously stated, FPT software is adopting a plan to attract youthful labor sources, also known as "Genz" generations, who are thought to have creative advantages, a wealth of information, and an awareness of many technological sectors new industry, great self-learning capacity, and communication confidence FPT software has adopted agile methodologies, which may be regarded as teamwork and employee empowerment, to capitalize on what Genz provies For a while, the cost leadership strategy of FPT software was problematic However, empowering employees without experience or knowledge is prone to a number of limitations, including: + Lack of decision-making consensus: When individuals are given authority, decisions might be uneven throughout the business + Weak management and support: When employees are empowered, they may not receive adequate management and assistance from their bosses + Discipline and control: As people are empowered, they may lose control and discipline at work As a result of the above, the company's work performance will suffer greatly, and FPT software will be unable to minimize expenses and their plan will fail 14 For a while, the cost leadership strategy of FPT software was problematic However, empowering employees without experience or knowledge is prone to a number of limitations, including : Managers must also encourage employees to communicate with colleagues throughout the firm, ensuring that employees have access to the information they require, and reward collaboration Furthermore, employees who are responsible for a final product or service must be able to listen to clients, adapt to changing demands, and handle a range of challenges imaginatively Ultimately, empowered people who are totally involved in their job provide the highest outcomes Employee engagement, defined as complete interest in one's work and devotion to one's job and organization, is linked to increased productivity, better customer service, and fewer turnover 2.3 What I learn from those policies Through the project presenting business areas, organizational structure, business findings and policies to human resources of FPT Software company, I gained a wide range of precious lessons from these policies: - Business strategy : FPT Software is a large corporation with numerous well-known products, particularly in the field of software technology To attain success in today's industry, the organization has gone through many difficult times, battling with firms offering identical items To increase product quality and get widespread recognition, the Company must always take new initiatives to establish new policies, strategies, and technologies I've learnt that if a huge firm or organization wants to thrive in the market, it must constantly evolve to fit the demands and tastes of customers 15 - Training and development , Establishing pay structure and Analysis and design of work : I've learnt from the preceding that we may establish appropriate human resource strategies and design positions depending on the company's capital as well as the business plan to maximize the company's profitability Chapter : Conclusion Because of effective policies such as business and human resource policies, development strategies, and a strong company model, FPT Software Company is increasingly confirming its market position, making it impossible for any other company to replace it The corporation's earnings have risen throughout the years as evidence But, the firm must also have rules in place to address its deficiencies, such as constraints on training techniques and pay practices Chapter : References Software, F (2023, 3) Retrieved from FPT Software : https://www.fptsoftware.com/about-fpt-software/ Corporation, F (2023, 4) Retrieved from FPT Corporation : https://fpt.com.vn/vi/ve-fpt/tam-nhin-chien-luoc FPT (2023, 3) Retrieved from FPT Corporation: https://fpt.com.vn/vi/ve-fpt/tamnhin-chien-luoc Tâm, H (2022, 18) Retrieved from Báo Đầu tư: https://baodautu.vn/fptmuc-tieu-lai-7618-ty-dong-tro-thanh-doi-tac-cua-cac-khach-hang-trieu-usdd162351.html An, H (2020) FPT xoay sách nhân thu hút hệ trẻ 16 education, F (2018, 4) Retrieved from Chúng ta: https://chungta.vn/bai-du-thi/cong-tac-dao-tao-noi-bo-o-fpt-1047796.html ta, C (2007, 12) Retrieved from Chúng ta: https://chungta.vn/cong-nghe/nhan-vien-nghi-viec-can-motcach-nhin-bien-chung-1063696.html#:~:text=Hi%E1%BB%87n%20nay%20ch %E1%BB%89%20ti%C3%AAu%20c%E1%BB%A7a,vi%C3%AAn%20trung %20b%C3%ACnh%20trong%20n%C4%83m Newswise (2018) Retrieved from Reliableplant: https://www.reliableplant.com/Read/3886/study-shows-skill-based-pay-workswell-for-manufacturers Esuhai (2021, 10 23) Retrieved from Esuhai: https://esuhai.vn/news/3EC75/5-loithe-cua-gen-z-ma-ban-chua-biet.html Nguyễn, N (2021, 25 6) Retrieved from Chúng ta: https://chungta.vn/cong-nghe/fptsoftware-khoi-dong-chuong-trinh-thuc-day-agile-1132861.html Team, S (2023) Retrieved from Lương Tháng: https://luongthang.net/companies/linetechnology-vietnam 17 More from: Managing People Trường Đại học… 31 documents Go to course 26 17 Tesla's Financial Statement Analysis Managing People 100% (1) Final Managing People PHAN THU… Managing People None Final assignment 13 Managing People None NHÓM Promotion: We… Managing People More from: Phát Nguyễn 339 None Trường Đại học Ngo… Discover more HR - materials Principles of Accounting None Ghi bài - note 19 Principles of Finance None University OF 12 Bedfordshire International business None Introduction to economics Econometrics None Recommended for you Reading- LT TFNGd 10 26 nguyên lý quản lý… 100% (1) Tesla's Financial Statement Analysis Managing People 100% (1)