Table 3.3: Table of proposed training for employees to develop NHBL services
STT
Class name | Quantity (People) | Location, parts are mentioned export | |
1. | Cross-selling product class odd | 10 | Sales agent |
2. | Electronic banking service development class | 5 | Customer Service Department and Human Resources Department engineer (computer department) |
3. | Customer debt collection skills | 6 | Sales and collection staff debt collection |
4. | Effective sales class | 30 | The sales staff of Vietcombank Vung Tau |
5 | Sales Management Class | 7 | Department heads are responsible. sales responsibility |
Maybe you are interested!
-
Analysis and proposal of solutions to expand retail activities at Military Commercial Joint Stock Bank - 1 -
Evaluation of personal credit service quality of Dong A Commercial Joint Stock Bank - Hue Branch - 9 -
Solutions to improve employee job satisfaction at Vietnam Joint Stock Commercial Bank for Investment and Development - North Saigon Branch - 15 -
Solutions to improve employee job satisfaction at Vietnam Joint Stock Commercial Bank for Investment and Development - North Saigon Branch - 1 -
Evaluation of Electricity Bill Collection Service Quality at Vietnam Technological and Commercial Joint Stock Bank - Hue Branch
Source: Author's proposal
The results of retail credit operations of a commercial bank will be improved and effective when the sales staff is interested, fully equipped with knowledge about products and marketing skills, dynamic communication, understanding of products and the retail market. This is very necessary for the operation of a bank, helping to improve service quality, create a good impression with customers; thereby the number of customers of the bank is consolidated, stabilized and developed more sustainably. Through studying the current situation of the sales staff at Vietcombank Vung Tau, the thesis proposes the tasks that need to be done with the retail staff in the coming time to improve capacity and develop the team, including:
Table 3.4: Tasks to be implemented with sales staff in the near future
1. Organize training programs on sales skills for each specific job, and provide professional training for all sales staff.
2. Train knowledge about NHBL products and marketing skills for sales staff, directly introduce and advise customers to choose and use suitable NHBL products, especially close and important customers.
3. Arrange and use staff according to the right person, right job, rotate staff to arrange work most suitable to professional capacity, promote staff's creativity.
4. Regularly train and discuss NHBL products and services, operating procedures for customer relations officers, survey and evaluate retail performance and employee performance.
5. Implement rewards and staff planning regularly and transparently, creating motivation and fairness among all retail staff.
Source: Author's proposal
In addition, it is necessary to have policies to motivate and encourage staff to do sales work, to care for and improve the material and spiritual life of employees. There are attractive policies on recruitment, training, incentive policies, and motivation to retain and develop quality staff. Continue to improve the salary and bonus policy for sales staff according to KPIs to create fairness and motivation for each employee. At the same time, through KPI measurement expenditures, identify competent employees to train and plan for higher positions, creating peace of mind at work, and individual achievements are recognized fairly.
coordinate
1.7.3. Building modern facilities and developing distribution channel network
Facilities and equipment contribute significantly to professionalism.
of the retail department, in addition to the human factor with adequate skills, professional qualifications, and a receptive attitude towards work. Retail staff need to be fully equipped with uniforms, handbags, briefcases, business cards, leaflets, product information and other necessary tools to create professionalism, to be recognized and at the same time create a beautiful, friendly image with customers.
Regarding working facilities, retail staff are equipped with computers connected to the internet so that they can update promptly on products, or changes in product conditions, easily check product information and other information on the market. In addition, support software is an indispensable facility in the retail department, an important part to evaluate revenue, costs, and profits for each product, which will help us save time and effort in statistics and evaluation of each type of product when launching to the market. Developing information technology systems and application software to ensure that computer problems and software errors are minimized, ensuring that any problems that occur must be handled promptly, without affecting or interrupting the branch's business operations, affecting the quality of Vietcombank's services.
Currently, the number of Vietcombank Vung Tau sales points is still quite thin, mainly concentrated in Vung Tau city with one head office and three transaction offices without attacking other potential areas in Ba Ria province.
– Vung Tau. What needs to be done is to establish more transaction offices in potential areas, where people have a high standard of living, and many luxury tourist areas are concentrated such as: Phuoc Tinh commune (Long Dien district), Phuoc Hai town (Dat Do district), Ngai Giao town (Chau Duc district), Ba To town (Xuyen Moc district), ...
1.7.4. Strengthen marketing and customer care activities
In the current condition of having many domestic and foreign banks operating in the market, customers will evaluate the image of Vietcombank Vung Tau not only through their feelings towards the Vietcombank system itself, but also through comparison.
Compare Vietcombank's image with other competitors. Meanwhile, many competing banks with long-standing names in the industry have created a good impression on customers, especially foreign banks in the retail banking sector. Building a good image and constantly strengthening the image for customers is an invaluable asset of any bank and has a very positive impact on customers' assessment of the quality of retail banking services. By doing this, banks will have an easier time maintaining sustainable relationships with customers and have a better chance of continuing to develop new potential customers.
In the context of Vietnam's increasingly deep integration with the world and regional economy, the domestic and foreign banking system is constantly expanding its operations, the banking business environment is becoming more and more competitive. Therefore, Vietcombank Vung Tau needs to promote the following tasks:
- Focus on promoting the values of Vietcombank Vung Tau, building a sustainable image development strategy, constantly improving the position of Vietcombank Vung Tau in the market. Standardize all core values of the Vietcombank brand (vision, mission). On that basis, thoroughly disseminate to all staff in the entire system to understand, remember and seriously implement.
- Regularly communicate to the public and customers. Communication content must be practical and related to the interests and concerns of customers and the community. Diverse and attractive forms of communication. Consistent communication messages and images throughout the system. Effectively implement social security work for the community. Diversify forms and content; choose practical topics that are close to the lives of each Vietcombank Vung Tau employee; internal newsletters must be truly attractive. Internal communication work must be focused on and continued through the leaders of member units to promote the strength of each employee.
- Vietcombank must build its own marketing strategy. Build and organize the implementation of a marketing program for new services of Vietcombank Vung Tau. Promote NHBL services to customers, create trust through the quality and style of customer service. Especially, it is necessary to have
Effective customer care methods, attracting customers to use Vietcombank Vung Tau services. Advertising must be carried out synchronously throughout the system through transaction points and on mass media, through the internet system, press, radio, television... to increase advertising effectiveness, contributing to enhancing Vietcombank's image associated with providing services to customers.
- Develop and organize advertising programs according to events during the year. Regularly implement promotional programs and prize programs for customers using products and services at Vietcombank, especially highly competitive products such as ATMs, credit cards, money transfers, etc.
- Increase information delivery to customers by methods appropriate to the level of information reception. Promote internal marketing of Vietcombank Vung Tau, the fastest way is to introduce new services to all employees of the bank to deeply change the awareness of employees about the survival of the bank in developing new products, increase understanding of products, thereby increasing professionalism in introducing new products. In addition, organize training on marketing skills, introduce new products to Vietcombank employees, build marketing materials for new services.
1.7.5. Financial management and risk management solutions in banking operations
- Always ensure separation between business, operational and risk management functions of the branch in order to professionalize risk management, contributing to minimizing risks in retail product operations.
- Seriously carry out the individual customer rating according to the individual credit rating system that Vietcombank regulates and implements with criteria suitable for each customer group for the purpose of assessing, analyzing and quantifying risks, deciding on credit granting, credit limits or independent loans for each specific customer group. Avoid the situation of rating credit based on emotions, without a basis to prove the income and business plan of individual customers.
- Actively and strictly control the credit quality of retail loans, and regularly check and evaluate the repayment capacity and creditworthiness of customers before, during and after lending to continuously improve loan quality.
- Closely monitor due and overdue debts to handle promptly.
- Make full and timely provisions for risk reserve funds as prescribed.
- Carry out forecasting of market developments and customer preferences at the branch to be more proactive in managing market risks, thereby making timely and correct decisions, minimizing possible risks.
- Standardize policies and procedures for providing products, services, operations as well as in the process of debt management and collection.
- The branch regularly and suddenly checks compliance with regulations, business processes, operations and current credit regulations. At the same time, monitor and manage employees to promptly detect errors, violations and negativity to limit loss of people and property as well as Vietcombank's brand.
- Vietcombank Vung Tau regularly disseminates and promptly updates policies, guidelines, and documents related to credit activities to each officer and employee.
- Regularly train in many forms to improve awareness, ideology, professional ethics, skills as well as professional qualifications of staff. At the same time, the credit staff need to be arranged with appropriate work according to their capacity, assigned specific tasks, and managed loan records appropriately, thereby being able to grasp and handle work more effectively.
1.7.6. Development of information technology and electronic banking systems
Vietcombank should promote investment in technological innovation, improve the efficiency of applying new technologies towards providing modern banking services to customers. Successful application of advanced technologies will help banks improve quality, diversify products and services, develop modern banking services, increase convenience for customers, and increase competitiveness in the integration environment. Investment
Technology to serve the analysis and evaluation of customer relationships, and perfect the reporting system to serve management and operations.
Continue to research and develop programs and software to enhance the utility products of existing banking services and serve as a basis for developing new products. Developing technology systems must go hand in hand with security and confidentiality solutions, ensuring safety for customers while meeting their increasingly high demands. It is necessary to conduct an assessment of the current status of information security to have a complete solution, it is necessary to design and develop policies and procedures on information security, build a comprehensive security solution, and apply international information security standards to ensure the quality of products and services when provided to customers. Regarding e-banking services, in the coming time, Vietcombank needs to continue to make efforts to ensure the system operates stably and safely.
1.7.7. Some other solutions
For capital mobilization activities , increase the ratio of long-term capital sources, increase the ratio of retail capital mobilization/total capital mobilization through innovation of capital mobilization products and appropriate customer policies. Make the most of existing capital mobilization products. Diversify capital mobilization forms, improve and enhance the quality of deposit products to maximize the mobilization of idle money in the population. Research and deploy new capital mobilization products, especially rich and attractive promotional forms. At the same time, deploy capital mobilization and payment at home to create favorable conditions for customers, especially very useful for retired customers with idle money. Design a set of products for each customer group such as prosperous customers, important customers, mass customers, and general customers. Accordingly, for each customer group, Vietcombank will design deposit or savings products with specific characteristics for each customer group. Vietcombank needs to step up research and development of services and products for high-income customers. Term deposit products will be designed in an open direction, increasing flexibility to attract large deposit sources, increasing customer choice. Regularly review Vietcombank's current deposit product portfolio, evaluate and compare Vietcombank's products.
with competitors, and at the same time collect customer feedback on products to determine the effectiveness of the products being deployed, which products are not effective, research and add new features and utilities to meet customer needs..., forming Vietcombank's own specific deposit products.
For credit activities , Vietcombank needs to add small and medium enterprises to the NHBL service target. Small and medium enterprises are mainly in the non-state economic sector, a dynamic economic sector in the market mechanism, constantly increasing in number and increasingly making important contributions to the economy. This is a potential market segment that Vietcombank needs to have a plan to exploit in the future. Improve the quality of retail credit products and services. Build product processes in the direction of minimizing procedures and shortening customer transaction time; Organize a team of quality sales staff, consult to satisfy the requirements of retail credit products and services for customers and understand retail products in general to advise and cross-sell products to customers. Build new credit products suitable to customer needs and market development in each period.
For payment services , it is necessary to research and develop product utilities so that individual customers do not need to go to the bank to be able to make bill payment transactions of different suppliers today such as Vietpay, PayOne, VNPay, Vietnam Airline... For card services, to maintain and enhance the card brand in the market and at the same time develop card products to promote NHBL activities, Vietcombank needs to build a roadmap for the strategy of diversifying card products and implementing the supervision of the implementation of the card business plan. Continue to invest and improve the technology system to support card business activities in general, including stabilizing the ATM system, enhancing the development of new services on the system. Coordinate card services with other electronic banking services to bring maximum convenience to customers. Research, build and develop card products according to the tastes of each customer segment, with distinct highlights to attract customers; Promote card association with famous domestic and foreign brands such as: Saigon Coopmart, Viettravel, and universities located in the area.