Basic Solutions to Improve Human Resources Treatment at Asia Food and Beverage Company Limited

The bonus that the company gives them, they feel unsatisfied and not really commensurate with the contributions they make to the company.

The company does not have any employee loyalty bonuses. The company focuses more on material rewards than spiritual rewards such as: Promotion opportunities for employees...

 About allowances and subsidies:

With the current conditions, the allowances offered by the company are not really attractive, stimulating and attracting employees, the allowances of the company are still at an average level. The forms of allowances are not diverse, the company should have attractive allowances, flexible allowances.

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The biggest limitation of allowances and subsidies is that employees are not satisfied with the company's allowance policy. The policy that the company has put forth is not really reasonable, not meeting the needs of employees while in the era of development, the price of everything is increasing, requiring more money. Therefore, this allowance is extremely necessary, requiring payment for the daily needs of employees to help them stabilize their lives.

CHAPTER 3. BASIC SOLUTIONS TO IMPROVE HUMAN RESOURCE REWARDS AT ASIA FOOD AND BEVERAGE COMPANY LIMITED

3.1. Basis for proposing solutions to improve the company's remuneration work

3.1.1. Based on the company's business strategy

Business strategy is important to the company's business activities. Business strategy guides the entire business activities, making the company's business activities take place in a unified, reasonable and effective manner. From market research activities, the company develops specific business strategies for each target in each stage and period depending on the goals of each company. Currently, the company's business strategy is facing many difficulties due to:

Market research is not effective, cannot build a large business strategy, requires a lot of capital investment, leading to limited ideas about business strategy.

Human resources are an indispensable and extremely important factor of the company. The company's human resource management is not really effective, so in the coming time, the company has a plan to develop human resources by recruiting a team of highly skilled and qualified employees, and assigning them to the positions they apply for.

3.1.2. Company development goals

Implement the plan to expand production scale, open more facilities in addition to 3 facilities in Ho Chi Minh City and 1 facility in Can Tho. Opening these additional facilities must bring business efficiency to the company, reflected in attracting many customers, bringing high revenue to the company.

Find new customers to increase revenue for the company, while maintaining revenue from old or traditional customers.

Find new sources of goods, better quality, more suitable to minimize arising costs, reduce the current passive position of the company in the relationship with suppliers.

Recruit more employees with high technical expertise, many years of experience and especially those who can work long-term and be loyal to the company.

Create many job opportunities for workers, spread the brand across the country and even reach the world.

Implement well the organization and management work, maximize the efficiency of the management apparatus and especially improve the human resource treatment work in the company.

3.2. Solutions to improve the company's compensation regime 3.2.1. Solutions related to financial compensation

Financial compensation plays an important role in increasing the income of employees in addition to receiving salaries, bonuses, allowances, subsidies, and full benefits. To meet the increasing needs of employees, company management needs to focus on financial compensation.

The effectiveness of leadership depends on the organizational structure of the management apparatus. To manage effectively, the company should innovate the management apparatus, reorganize it to suit the functions and tasks of the company. Especially in the current economic development, the company should reduce employees with low productivity, low efficiency and poor work ethic.

Improve the professional qualifications of the management team: For financial compensation to be truly effective, first of all, those who outline plans and policies must have high qualifications, grasp the regulations of the state's laws and guiding documents, and understand the situation of the business.

Building corporate culture: Businesses must not only create a good working environment but also create an “optimal” living environment for employees.

A business with a good culture will be the premise for implementing good financial compensation policies. There are many ways to create and maintain a corporate culture such as:

Organize cultural exchanges, invite artists and singers to perform, celebrate the company's traditional day and employees' birthdays. Build a library center and a health care center for employees.

Organize sincere and frank discussions between employees and superiors so that employees can directly participate in the company's management and propose personal opinions and wishes.

Create a comfortable working atmosphere, always willing to share work, as well as difficulties in life.

In addition to the salaries, bonuses, allowances and welfare benefits that employees receive according to state regulations, the company should allocate more bonuses, allowances and voluntary benefits, constantly improving and innovating them. Develop welfare funds, rewards and apply flexible subsidy policies to create conditions for employees to increase their income to meet their personal needs and lives.

3.2.1.1. Salary solutions

Businesses need to identify salary as the most important tool in attracting talent and the basis for ensuring workers' livelihoods.

It is necessary to build a reasonable salary system that does not focus on qualifications, but rather on the actual capacity of employees to create a professional and effective working environment.

Improve the method of paying wages based on time in addition to the salary that the company initially distributes to employees, that is, based on the timesheet, based on the actual number of working days of the employee. The company should pay an additional amount calculated based on the company's business performance.

The company needs to promulgate the salary and bonus regulations in writing and disseminate them to all employees. The clearer and more transparent the salary and bonus regulations are, the higher the morale and motivation of the employees.

Businesses must determine the average salary of positions in the same industry and in the same geographical area. This helps businesses offer competitive salaries that can attract and retain employees. To determine the average salary level, businesses must consider external and internal factors of the business.

Determine the unit price and salary fund. Enterprises need to forecast the total amount spent on employee salaries and determine the salary-to-revenue ratio. This is the unit price of the salary for the year, this unit price will be the basis for enterprises to determine the basic salary for job title groups, the basis for calculating salary based on revenue or product unit.

Building an effective salary mechanism, most of Vietnam's enterprises are currently small and medium enterprises, the work process is not clear, often concurrent and changes a lot. Therefore, the appropriate salary mechanism to apply is the salary payment mechanism linked to work efficiency.

3.2.1.2. Bonus solution

Add some bonuses such as: Loyalty bonus, bonus for good compliance with company regulations. Work performance is important, but each employee, each worker when working in a business, company or a collective must comply with the regulations set by that company.

The company needs to focus on spiritual rewards, in addition to material and financial rewards, sometimes just a word of encouragement from superiors is enough to give employees great spiritual motivation, helping them complete their assigned tasks well. It is necessary to create more opportunities for advancement and development for employees.

Increasing the bonus level so that it can be effective is a lever to stimulate the working spirit of employees, a tool to attract employees. When the salary may not be able to meet all the needs of employees, not enough to take care of life, then increasing the bonus level plays a very important role. With more bonuses, employees will have more income to stabilize their lives. They will feel secure in working, dedicating all their efforts to the company.

3.2.1.3. Solution on allowances

For allowances, each company applies them differently, depending on the competitive strategy of each company. Nowadays, many competing companies are constantly emerging, so companies will continuously compete and attract employees to their side, so each company wants to own a team of highly qualified personnel, it must continuously increase the allowance level. High allowances are an advantage for companies to attract talent everywhere.

The company should regularly research and update the latest information to make adjustments to allowances that are appropriate to the actual working environment. In addition, the company needs to have additional housing allowances, attraction allowances, and mobility allowances due to the increasing cost of living in big cities.

3.2.1.4. Subsidy solutions

Benefits are intended to help employees maintain health, financial security and personal stability without affecting work performance.

Establishing a hardship fund: This fund was established to provide additional assistance to workers in difficulty. In these cases, the Union annually allocates a sum of money from the Union fund to visit the family. However, it has not really helped many company leaders, so they allocate annual profits to establish a hardship fund to support employees in especially difficult circumstances and cases of force majeure.

3.2.1.5. Welfare solutions

The company needs to establish a clear and reasonable welfare payment regulation, diversify the allowances, benefits, and welfare. In addition to the forms that the company is currently offering, it should expand some more forms:

- Establish a financial welfare fund

- Expand more services for employees

- Establish a scholarship fund

Caring for employees is necessary but not enough. To keep employees loyal to the company, the company needs to care not only for them but also for their families. Caring is shown in many forms, in addition to establishing a scholarship fund for employees' children, the company also needs to encourage and visit employees whose families are in difficult circumstances or are sick.

3.2.2. Solutions related to non-financial compensation

 Compensation solutions through work and working environment

Organize and serve the workplace properly: A good workplace will create conditions for employees to work with high productivity. A well-organized and served workplace will also create a good state for employees, promoting their creativity and intelligence at work. Build a comfortable, safe and hygienic working environment.

Establish a reasonable work and rest regime, there must be a clear plan to divide rest time and work time. Build relationships between superiors and subordinates, build solidarity and harmony among colleagues.

Leaders need to grasp and understand the situation of their employees, regularly visit and encourage their subordinates, care about and share work with them to reduce the gap between superiors and subordinates, create conditions for organizing living, working, resting, and creating a comfortable working atmosphere.

PART III: CONCLUSION AND RECOMMENDATIONS

1. CONCLUSION

Nowadays, our country is on the path of economic development, along with that, businesses and companies are constantly springing up in the market, not only domestic businesses but also foreign businesses, the level of competition is increasingly fierce. These businesses have potential in terms of location, infrastructure, attractive capital sources that deserve our attention. To stand firm and even have a position in the current market, each business not only continuously makes short-term and long-term plans, but also needs to always have a team of highly qualified, experienced and fully skilled employees. And that is why the role of human resource treatment in the company is increasingly important, it is a step forward to help the company confidently reach out and develop strongly in the market.

Asia Food and Beverage Company Limited has done very well in this regard. The results they have achieved are that revenue and profit increase year by year, the company culture is developing day by day, the number of employees, although there is an increase or decrease, is not significant, the core force of the company is always loyal, that is a very happy sign for Asia Food and Beverage Company Limited.

Through the assessments we have just surveyed, we can see that the company has paid great attention and really invested in the issue of human resource treatment. Most employees are really satisfied with the policies and treatment regimes that the company brings to them. Specifically, the survey results on salary, bonuses, allowances and subsidies, welfare or working environment, the work itself are highly appreciated by employees. The company applies financial treatment regimes to all subjects without discrimination of gender or level.

Besides the successes that the company achieved through the survey process, we see that in the evaluation criteria there are still specific unstable issues:

Regarding salary, the company offers a salary that cannot really ensure a stable life for some workers, or regarding bonuses, the bonus level is not really worthy of the efforts of some workers, making them feel unsatisfied.

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