The incompetency of new brokers at ACB securities company

UNIVERSITY OF ECONOMICS HO CHI MINH CITY International School of Business Nguyen Xuan Anh THE INCOMPETENCY OF NEW BROKERS AT ACB SECURITIES COMPANY MASTER OF BUSINESS Ho Chi Minh City – Year 2019 UNIVERSITY OF ECONOMICS HO CHI MINH CITY International School of Business Nguyen Xuan Anh THE INCOMPETENCY OF NEW BROKERS AT ACB SECURITIES COMPANY MASTER OF BUSINESS ADMINISTRATION SUPERVISOR: Dr Tran Phuong Thao Ho Chi Minh City – Year 2019 Executive summary Every company has their owned problem Defining the existing problem that cause bad impact on business is not easy ACBS is known as one of the top securities companies in Viet Nam Recent years, ACBS has faced some downtrend in market shares and shortage in human resources The purpose of this study is to identify problem at ACB Securities Company (ACBS), what issues ACBS is facing affect its business performance From using many techniques such as collecting data, in-depth interviews with related shareholders, conducting surveys, etc this study discovers what happen at ACBS and give solutions to solve main problem This study attempts to answer the relationship between main problem and cause lead to the impact on business By careful evaluate four possible problems include benefit, sales pressure, career development and incompetency of new employees, incompetency of new employees occurs as main problem contribute mainly to the failure in business performance Recruitment process, incorporate between team members or inappropriate training program can cause to this problem By conducting deep interview of stakeholders, the research define inappropriate training program as main cause ACBS did not consider the value of training and formal training activities did not invest much in business strategy After evaluating some possible solutions such as send current trainer to attend outside course in order to improve their teaching skill, create a new training department or outsource trainers from outside Best solution will enhance the business performance with less change in company structure In case of ACBS the combination of improve quality of current trainers by attend outside course and outsource professional for difficult training part is best fit to business strategy Table of contents Page Executive summary iii CHAPTER 1: Company overview 1.1 ACBS development history 1.2 Organizational structure 1.3 Core activities in 2018 CHAPTER 2: Problem identification 2.1 Symptoms 2.1.1 Fall to attract new employees as entry levels 2.1.2 High turnover rate of new staffs 2.2 Problem analysis and problem mess 2.3 Possible problems 2.3.1 Incompetency of new brokers 2.3.2 Unattractive benefit 2.3.3 Working pressure 2.3.4 Unclear career development 10 2.4 Main problem: Incompetency of new brokers 10 2.5 Main problem definition 12 2.6 Justification the importance of main problem 12 2.6.1 Shortage of young human resources 13 2.6.2 Staff unproductivity 15 CHAPTER 3: Cause validation 18 3.1 Cause and effect tree 18 3.2 Possible causes 18 ➢ Inappropriate training program 18 ➢ Ineffective recruitment process 18 ➢ Incorporate between team members 19 3.3 Main cause: Inappropriate training program 21 3.4 Validate main cause 25 CHAPTER 4: Solution design 28 4.1 Alternative solution 28 4.1.1 Solution 1: Improve the quality of trainees through oust side training teaching method courses 28 4.1.2 Solution 2: Establish a new training team/department by hiring new trainees who have experience in teaching 30 4.1.3 Solution 3: Outsource trainers 31 4.2 Solution suggestion 32 4.3 Solution selection: 34 4.3.1 Solution justification 34 4.4 Action plan 35 4.5 Evaluation 36 REFERENCES 38 List of figures Figure 1: ACBS’s organizational structure Figure 2: Statistic of Trade Pro program in 2017 and 2018 Figure 3: Number of interns and new employees from internship program from 20152018 Figure 4: Employee turnover rate from 2015 – 2016 Figure 5: Employee population by age in 2017 13 Figure 6: Employee population by age in 2018 13 Figure 7: Age of employees at ACBS, SSI and VN Direct in 2017 14 Figure 8: The gap between target and real number of brokers from 2016 – 2018 15 Figure 9: ACBS market shares from 2015 – 2018 16 Figure 10: The training evaluation at ACBS 27 Figure 11: The application in job of employees after training 27 List of tables Table 1: Interview summary 1: recruitment process 20 Table 2: Interview summary 2: corporate between team members 21 Table 3: Number of training program in 2018 23 Table 4: The comparison between three solutions 34 Table 5: Action plan of selection solutions 36 APPENDIX APPENDIX 1: Research method summary 41 APPENDIX 2: Interview transcript 43 APPENDIX 3: Interview transcript 47 APPENDIX 4: Interview transcript 49 APPENDIX 5: Interview transcript 50 APPENDIX 6: Interview transcript 51 APPENDIX 7: Interview transcript 52 APPENDIX 8: Interview transcript 53 APPENDIX 9: Interview transcript 54 CHAPTER 1: Company overview 1.1 ACBS development history: ACB Securities Company (ACBS) is a financial service company was established in 2000 as a 100% owned by ACB Commercial Bank under business license No 06.UBCK GPHDKD issued by State Securities Commission of Viet Nam The initial investment was up to VND 43 billion ACSB has increased its investment fifth times during 18 years operation: − In 2005 ACBS changed its total investment for the first time, increased to VND 100 billion − In 2006 ACBS the total investment increased for the second time to VND 250 billion − In 2007 the total investment changed for the third time to VND 500 billion − In 2008, the total investment increased to VND 1,000 billion for the fourth time − In 2009, the total investment increased to VND 1,500 billion for the fifth time At the same year in 2009, ACBS announced its brand positioning with three core values: − Trustworthiness: being transparent and careful, always focusing on ensuring customer interests − Friendliness: being gentle and understanding, bringing satisfaction to customers − Flexibility: being flexible with customer needs, adaptive to market change, developing and applying new technology for the highest benefit of customers Since its establishment, ACBS has been authorized by the State Securities Commission of Viet Nam and has mains securities service products in accordance with the prevailing laws: − Securities brokerage − Securities dealing − Securities trading − Securities underwriting − Securities investment advisory − Securities investment portfolio management ACBS vision and mission is bringing the best service with modern model of investment bank to customers ACBS take pride in contributing to development of transparent and professional standards for securities industry, as well as the overall financial market (1) 1.2 Organizational structure: During its development, ACBS has increased its branches include one central branch in District 1, Ho Chi Minh City and nine other branches and two transaction offices all over Viet Nam ACBS owned by Asia Commercial Bank (ACB) Under ACB there are some main Boards to ensure ACBS operation complies with ACB policy and government such as: Supervisory board, Financial Audit Board, Risk management board, Human resources and benefits board, Board of ALCO, ACB Capital management company limited (ACBC) Figure 1: ACBS’s organizational structure Source: ACBS annual report (22) Muhammad AB, Kaur S The role of individual and training design factors on training transfer Journal of European Industrial Training 2010;34(7):656-672 (23) Hughey AW, Mussnug KJ Designing effective employee training programs Training for Quality 1997;5(2):52-57 (24) Lieb, S (2001), “Principles of adult learning”, available at: www.hcc.hawaii.edu (25) Galbraith, M.W (1998), “Becoming an effective teacher of adults”, in Galbraith, M.W (Ed.), Adult Learning Methods, Krieger Publishing Company, Malabar, Gauld D, Miller P The qualifications and competencies held by effective workplace trainers Journal of European Industrial Training 2004; 28(1):8-22 FL, pp 3-19 (26) Gauld D, Miller P The qualifications and competencies held by effective workplace trainers Journal of European Industrial Training 2004; 28(1):8-22 (27) Laird, D (1985), Approaches to Training and Development, Wiley, New York, NY (28) Tai, W.T (2006) Effects of training framing, general self-efficacy and training motivation on trainees training effectiveness Personnel Review, 35(1), 51-65 (29) Kirkpatrick, D.L (1998) Evaluating training programs San Francisco, CA: BerrettKoehler (30) Jiang JJ, Klein G Supervisor support and career anchor impact on the career satisfaction of the entry-level information systems professional: JMIS JMIS J Manage Inf Syst 2000 99;16(3):219-240 (31) Tai, W.T (2006) Effects of training framing, general self-efficacy and training motivation on trainees training effectiveness Personnel Review, 35(1), 51-65 (32) Gauld D, Miller P The qualifications and competencies held by effective workplace trainers Journal of European Industrial Training 2004; 28(1):8-22 (33) Das M Understanding the role of trainers in empowering the employees at the workplace International Journal of Education and Management Studies 2017 12;7(4):522-529 40 APPENDIX APPENDIX 1: Research method summary This study used a qualitative research method in order to identify and describe business problem of ACBS This method intends to focus on a group of people who are stakeholders in organization and influence to the business performance Various different methods are used for the collection of qualitative data This study also used secondary data First of all, to have an overall thinking about ACBS, the research have initial discussion with some stakeholders such as broker, sales managers, human resource department and brokerage management department in order to have a possibility of a project After having a knowledge and information about industry and company through some source like annual report, newspapers, information from internal stakeholders, the researcher realize problem occurs relates to many securities companies that they not have enough human resource to perform job ACBS is also to struggling with the demand in human resources Many employees had leave the job recently and moved to work for competitors So if company does not have any recruitment program to attract talent, Ms Lien – HR manager said recent years ACBS increase the recruitment activities through some contest for under graduated students and fresh graduated student The researcher also finds out reason why employees left ACBS By interviewing former employees, there are some responses about “unattractive benefit”, “working pressure”, “high sales target”, “does not have chance to develop” The interview also make to manager level, the result are “do not meet job requirement”, “high competitive”, “receive offer by other competitors” Based on theories, there are reasons may make ACBS lack of human resource: unattractive benefit, high working pressure, unclear career development and incompetency of new brokers Applying theory and making further in-dept interview, the main problem appear as the incompetency of new brokers Additionally, some evaluations are conduct to validate if it is the main problems of ACBS Data showed that ACBS suffer a decrease in sales and market share recently, besides that there a shortage in young staffs make ACBS difficult to expand its market Based on theories, incompetency of new 41 employees can occur if company has some bad strategy related to recruitment, communication between team member and training program A survey is conducted about the quality of training program at ACBS The quality of training is evaluated as the average level Training does not help employees increase their skills By discussing with ACBS to define the objective and benefit of each solution such as sending trainers through outside training courses, create new training team and outsource outside trainers, the combination of solution and will enhance business performance and suitable with company strategy 42 APPENDIX 2: Interview transcript 1: Purpose of the interview to understand company activities and initial problems Interviewer: Nguyễn Xuân Ánh Interviewee: Liên Võ- Head of HR department Time and date: January, 2019, 11am Venue: Company’s canteen INTRODUCTION Interviewer: Good evening, my name is Anh I’m currently a student of ISB – UEH I am working on a research about one company to get more experiences As I know, ACB Securities company (ACBS) is one of the largest securities companies in Viet Nam with good reputation So my team decides to choose your company to a research Could you please support me in provide information about ACBS to help me finish the project? Interviewee: Hi Anh, It’s my pleasure to help you Interviewer: thank you very much for your support Could you please spend 20 minute with me to share about your position? Interviewee: yes, my name’s Lien and I’m head of HR department at ACBS I have been working at ACBS for years and I really love what I Interviewer: can you share with me about your job? Interviewee: my job is managing people, planning and developing HR strategy for the whole company Besides that I consult for the board of director in making decision related to HR and developing recruitment, training, developing compensation for employees I also support my team to complete their jobs Interviewer: as you said you had been working for years Could you tell me the meaning of this job and the reason why you work at ACBS for a long time? Interviewee: HR is the job I chose when I graduated university and this job is suitable with my characteristic and my hobbies Before working at ACBS, I worked for a bank and moved to ACBS As you know, ACBS is one of the largest securities companies in Viet Nam and thanks to the support from mother bank ACBS has utilize its advantages to expand market In general, I 43 feel happy when I work here, ACBS has good benefit, working environment and so on One of the reasons I work for ACBS is the professional working environment and friendly colleges Interviewer: recently any problem or issues make you concern at ACBS as a perspective of Human resources manager? With high pressure of market, many competitors have entered to financial market, it makes the decline in market share of ACBS recent years As you know, like a cake you have to share with many people, the more people the less amount of cake Strategy of ACBS is expanding its market share so ACBS need more human resources to perform task One of the crucial missions of HR department is finding enough staffs to supplement ACBS strategy As you know, one of the reason in low market share is ACBS does not have enough human resource for its business So the supply for human resource is emergency and important 44 Interviewer: so who are the target and potential employees of ACBS? ACBS focus on developing young broker team who is active and hardworking Compare with other competitors the broker team of ACBS is older than the others with more than 50% is brokers from the age of 30 and higher In contrast, other competitors like SSI or HSC brokers under 30 years old take more than 50% Interviewer: so how are the hiring of the experienced candidates who have background in finance and brokers from other competitors? Why don’t you focus on this group? My recruitment team is also looking for candidates in this group But the result is not good It’s really hard when pulling staff from other competitors to work for ACBS Interviewer: I see that many students just graduated from university and looking for jobs This is also a potential pool of candidate How you think about this group? As I said before, this is the target candidate we focus on In 2017 and 2018 ACBS held the Trade Pro program aim to attract more candidates from this group 20 contestants who go in final round will have chance to be intern at ACBS The purpose is finding talents and repair for future workforce The program is successful with large amount of participants But at the end, just students agree to attend to the internship program and candidate agrees to work for ACBS I heard they moved to other competitors to work for This is unpleasant result Interviewer: you think what the difficulty is of hiring these people? The reason they not accept the offer of ACBS For example: salary, commission? I think sales person does not focus on basic salary, their main income come from commission The high revenue they take the high commission they earn In general, compare with other companies, ACBS still pay an appropriate rate of commission Many cases, they accepted the offer but they left after 1-2 working months It takes many cost and time for these groups Interviewer: as you said many new employees left company within months, so what is the reason? My team conducted a survey of retire brokers to find out reason Some come from benefit, some come from sales pressure and training program Many brokers can bear the high pressure of meeting sales target Or they feel not stick with company for a long time and don’t find a chance in development Interviewer: according to you, what is the main problem of unattractiveness career at ACBS? 45 I think they afraid of sales target They are not confident with their skills and knowledge to accept the job For new people who are quit job after probation time, they may feel not connect with company and don’t have a chance to develop I heard some people complaint about the training at ACBS, it’s not what they expect 46 APPENDIX 3: Interview transcript 2: Purpose of the interview to understand company activities and find initial problems Interviewer: Nguyễn Xuân Ánh Interviewee: Thien Huynh - Broker Team leader Time and date: January, 2019, 5pm Venue: Highland coffee Mac Dinh Chi INTRODUCTION Interviewer: Good evening, my name is Anh I’m currently a student of ISB – UEH I am working on a research about one company to get more experiences As I know, ACB Securities company (ACBS) is one of the largest securities companies in Viet Nam with good reputation Hence, your company is suitable fit for my thesis Could you please support me in provide information about ACBS to help me finish the project? It’s my pleasure to talking with you Interviewer: can you tell me about your and how long have you been working here? I have been working at ACBS for years And I am a team leader of a group of 4-5 brokers Interviewer: As a broker, can you tell me what your main job is? What is the meaning of your job? My main job is investment consulting, assets management for customers Besides that, I also take responsibility of recruiting for my team As my though, this job is really interesting and bring a lot of chance for me to challenge myself My mission is adding value for customers, support customers in improving their financial plan Interviewer: According to you, which skills should brokers need to become successful? Brokers need many skills include soft skills and technical skills to be successful Besides technical skill, soft skill is also important factor to increase performance These soft skill include: communication skill, persuasive skill, presentation skill and problem solving skill Interviewer: At ACBS, is there anything make you unsatisfied or need to improve? In general I feel satisfied about my job However, to support for job and update new knowledge, I think ACBS need to improve training programs for employees include new employees, junior manager and experienced employees 47 Interviewer: Are you satisfied with your salary, bonus and welfare? Compare with other companies, you think it reasonable? Yes, I happy with benefit I was received at ACBS Recently, my company has improved the commission policy as well as improved brokerage policy for sales team This helps improve living quality of employees As I know, the salary offered by ACBS is not lower than average industry Interviewer: In your opinion, what criteria is needed when recruit new broker as entry level? According to me, new brokers need to satisfy some basic requirement such as bachelor degree in economic or relevant industry, have basic knowledge about financial market I value candidates who are active, hard-working and inquisitive Interviewer: How you evaluate training programs for new brokers at ACBS? Training program at ACBS somehow adapt to the job requirements However, ACBS needs more training program with in-deep knowledge about financial as well as update new information and relevant to daily task Case studies about real situations also need to add to training content to help new employees improve problem solving skills Until now, ACBS does not have many training course for new employees New brokers are trained by their sales team, means that every team will take responsibility for training their own staffs It leads to the differences about training quality and training content between sales team I think ACBS need organize more focus training program for new employees to increase quality of new brokers Interviewer: How often does ACBS open training courses to employees? ACBS held mass training - times per year for new brokers Besides, new brokers can take part in short term training course held by ACB (mother bank) But the training course held by ACB is designed specifically only for banking staffs, the content may not fit to the sales staffs of ACBS Interviewer: What you think about the quality of the trainers? (experiences, skill, ….) In my opinion, the quality of trainers at ACBS has some limitations Some trainers have professional competence However, to deliver the spirit of training content requires trainers have not only high professional skill but also high teaching skill and experience The fact is most of ACBS’s trainers are young, under 30 years old and lack of teaching skill so the ability to orient and motivate other staffs are limited They need more improvement Interviewer: thank you for your contribution Hope you will success in your career 48 APPENDIX 4: Interview transcript 3: purpose is to define main problem Interviewer: Nguyễn Xuân Ánh Interviewee: Mr Khoi – Sales director Time and date: January, 2019, 4pm Venue: at ACBS’s office Interviewer: can you introduce a little about yourself? My name is Khoi, a sales director of ACBS I take responsibility in manage all sales employees at ACBS I have been working at ACBS for years This is not a long time when I work here Before that, I worked for SSI at the same position Interviewer: so what is the reason make you decide to work at ACBS? In my work, I need something challenge and new At SSI I gained some achievements in establishing a good sales team In another word, I am one of the first person establishing brokerage policy for brokers at SSI and this policy is seen a model for many competitors to follow ACBS is a good company but recently it has some downtrends in gaining market share In my opinion, ACBS does not have clear strategy and policy for sales employees as well as lack of some programs to promote products and services As I said, I love challenging and see many growth opportunities for ACBS so I decide to move to ACBS Interviewer: is there any problem you concern on sales staffs at ACBS? Compare with other competitors, brokers at ACBS are aging with more than 50% of employees who are above 30 years old This is a disadvantage for ACBS, sales need young people or at least employees who are active and hard-working and creative I see brokers at ACBS are not really active and unmotivated At SSI, the working styles of brokers are professional, they always find different method to increase sales and communicate well with customers ACBS is different situation, brokers are related too much on current customers and lazy in expanding new customers Interviewer: why the company don’t have plan on recruiting brokers from universities? We focus candidates just graduated from universities or fourth year students to building, preparing and creating future human resources But the efforts are not really effective Many intern of ACBS left company when finished the internship program 49 APPENDIX 5: Interview transcript 4: purpose is to understand why she quit the job Interviewer: Nguyễn Xuân Ánh Interviewee: Ms.Duong-former broker at ACBS Time and date: 12 January, 2019, 10 am Venue: at Phuc Long coffee District Interviewer: Hi Ms Duong, can you introduce about yourself? Interviewee: I’m a broker at SII, before working for SSI I worked for ACBS in 2018 Interviewer: How’s your job at SSI? Interviewee: it’s good, although SSI has high working pressure but I’m happy with this working environment, I have chance to challenge myself besides that the culture is very friendly Interviewer: so why did you left ACBS ? Interviewee: I don’t see ACBS have clear brokerage policy and career development, at ACBS I studied and leant by myself, I received few supporting from team members Besides ACBS has strictly policy and it not good for broker’s job like working time, many procedures If I work at ACBS, I won’t get development in future Interviewer: how many percent did you fit the job requirement at ACBS at that time? Interviewee: I joined ACBS when I just graduated from universities, at that time I did not have many experiences so I think just 50 % I meet the requirements Interviewer: you think because of your limitation in ability so you not have chance to develop Interviewee: Maybe 50 APPENDIX 6: Interview transcript 5: Purpose of the interview to understand company activities and find initial problems Interviewer: Nguyễn Xuân Ánh Interviewee: Ms.Thao – former broker at ACBS Time and date: 13 January, 2019, 5pm Venue: Highland coffee Mac Dinh Chi Interviewer: Hi Ms Thao, can you introduce about yourself? Interviewee: Hi my name is Thao, Im an officer at Interviewer: I know you are worked at ACBS for months, how you evaluate ACBS? Interviewee: ACBS is ranked in top ten companies have biggest market share so the competitive between employees are high Stock market is competitive market and requires brokers work really hard to increase the market share Because it is hard to meet target sales so my commission is low Furthermore, female staff has some difficulty than male in sales job Interviewer: how ACBS set sale target, is it fair between employees? Interviewee: for every level position, they have their target for each level But I think with new employees the target is quite high I was stress when I worked at ACBS Interviewer: How about the salary and other benefit? Interviewee: it’s the same as other company, and it’s not a competitive advantage of ACBS Interviewer: did you receive supporting from team member or supervisor? Interviewee: yes, usually supervisor will take responsibility in training team member, it some kind of sharing other than formal training 51 APPENDIX 7: Interview transcript 6: Purpose of the interview is to explore the cause of problem Interviewer: Nguyễn Xuân Ánh Interviewee: Mr.Thien – team leader Time and date: 23 Febuary, 2019, 6pm Venue: Highland coffee Su Van Hanh Interviewer: how you evaluate competency of employees at ACBS? Interviewee: in general, employees meet the basic job requirement, but about competency I think it related to something more over expectation and can compete with competitors Interviewer: to increase competency of your team member, what would you do? Interviewee: I think training is the best way, through training employees will obtain more knowledge and improve their skill Interviewer: As a team leader, how you train new employees? Interviewee: For technical skill I organize some focus training course For soft skill, I train my staffs based on practical situation However, I am not a professional trainer somehow all my information I want to deliver are not really effective Interviewer: you take part in recruitment process? Interviewee: yes, my manager and me take an interview with candidate to select suitable person I choose staffs based on personal experience and the fit with job requirements Interviewer: what your criteria in selecting employees? Interviewee: he has background in finance or related industry, of course it will better when they have experience For fresh graduate student, they don’t need to have more experience in stock market, of course it will better when they have experience They must hard working, easy to learn and passionate with their jobs My opinion is new brokers need time to improve their performance, they have to learn a lot to adapt to the job requirements 52 APPENDIX 8: Interview transcript 7: Purpose of the interview is to explore the cause of problem Interviewer: Nguyễn Xuân Ánh Interviewee: Ms.Nhung – brokerage management officer Time and date: 10 March, 2019, 6pm Venue: ACBS office Interviewer: how you evaluate recruitment process of ACBS? Interviewee: in the past candidate have to pass both knowledge test and interview round Recent years, the test is eliminated, there are only interview rounds with HR and sales manager I think interview can show candidate characteristic but how we test their knowledge In my opinion ACBS need both verbal and nonverbal test in order to select good employees Interviewer: you think the recruitment process can affect the employee competencies in company? Interviewee: employee competencies must begin with the first step is choosing qualified candidates, selecting the right person will increase the business performance So I think recruitment plays an important role in improve the competency of employees If pick wrong people, it will take time to train them and sometimes they quit the job and company must find other person to replace position Interviewer: working in brokerage management department, you will know clearly about the brokerage activities and the situation of every team How you evaluate the corporation between team members? Interviewee: every team they work in different ways, depend on the role and strategy of team leader Overall, I see they corporate well with members in a team But the communication between teams is not well They not sharing information with each team and don’t have the strong connection This is the limitation for the development of whole company 53 APPENDIX 9: Interview transcript 8: Purpose of the interview is to validate main cause Interviewer: Nguyễn Xuân Ánh Interviewee: Ms.Lien – HR manager Time and date: 15 April, 2019, 3pm Venue: ACBS office Interviewer: I heard that there are some complaints about recruitment process at ACBS and this decrease the competency of employees What you think? Interviewee: recruitment process of ACBS is a strictly circle There some criteria candidate must have to meet the requirement Candidate must take interview round and test by characteristic or skill Those who are qualified will allow to work Interviewer: why ACBS not have test to candidates? Interviewee: in the past ACBS applied this method But nowadays, company think it’s not necessary, through interview techniques we can evaluate one candidate if he or she fit the job Other people don’t understand the recruitment process because they not involve in this procedures They may have some different ideas about these field Interviewer: can you tell me what they comment about training? Compare with other competitors like SSI or HSC, ACBS does not have clear training strategy and the number of training is not open frequently Besides, I heard some comment about the quality of trainers and brokers not really trust their trainers Trainers at ACBS are young and are not receive professional trained Sometimes, it’s hard to follow the lesson Interviewer: as you said there are some comments about the trainer, is ACBS has a trainer team and what is their background? ACBS does not have specific training team Usually, every department will have a person who will prepare training materials and train other employees Policy or procedure belong to department, staffs at this department will train Other soft skills, brokers are sent to ACB training center and attend class with other staffs at ACB But the training is designed for banking sector so sometimes it’s not really useful for brokers at ACBS Because the nature of baking sales and securities sales are not similarity 54 ...UNIVERSITY OF ECONOMICS HO CHI MINH CITY International School of Business Nguyen Xuan Anh THE INCOMPETENCY OF NEW BROKERS AT ACB SECURITIES COMPANY MASTER OF BUSINESS ADMINISTRATION... demand of new staffs is increased a lot Due to the inappropriate training programs, the attractiveness of career at ACBS is to become less attractive Large number of new brokers left during probation... working environment of an organization They have to understand the basic nature of their job to overcome the failure feeling If they keep these negative feeling they cannot well their tasks As a