Table 2.1. Relationship between objectives in Business Strategy and applied human resource policies and activities
Objectives in Business Strategy
Human resource policies and practices applied | |
Business ethics Create a corporate culture in which all employees adhere to the Company's core values of Responsibility, Respect and Care. | Training and development policy - Compensation policy - Focus on equipping and developing internal skills/capabilities to be able to successfully achieve the set goals. - Rewards and punishments are fair, transparent and public. |
Growth and profitability Sustainable growth and profits according to the business goals set by the Company. | Recruitment policy - Training and development policy Develop existing human resources and attract and retain competent, enthusiastic and ambitious individuals. storm. |
Optimize production and business operations - Optimization in production and business activities to achieve high efficiency and performance in using the Company's resources. - Apply methods and procedures as well as advanced engineering technology in production and construction. | Training and development policy Train and develop employees' capacity and skills in building, applying and developing production and business standards/processes. |
Customer focus Achieve the highest customer satisfaction and capture the market. | Training and development policy - Performance appraisal policy - Training and developing employee capacity to achieve satisfaction |
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highest from customers. - Get quality and professionalism Customer service is a criterion for evaluating work performance. | |
Safety and Health Create a safe working environment for all employees, contractors and customers to achieve the long-term goal of zero work accidents. Building and developing a safety culture in the Company. | Training and development policy Training and developing the capacity, skills and awareness of employees working for the Company as well as the Company's partners. |
Human resource policies and activities represent the Company's viewpoint towards strategic business goals. The advantage of human resource policies and activities is also reflected in another aspect: the connection between human resource management policies/activities for a common goal.
Recruitment: The business strategy requires attracting, developing and retaining a team of competent, enthusiastic and ambitious employees to achieve strategic business objectives. The strategy also emphasizes the role of integrating new employees into the company environment through training and guidance on the company's culture, working style, history and organizational structure, business production environment, specific policies/processes, etc. This is the first step in activities to maintain and develop a team of competent and enthusiastic employees.
Training and development: Create a working environment that promotes the spirit of dedication, respect for colleagues, and high efficiency in performing work. This is the basis for encouraging all employees to learn and develop. Due to the nature of the construction industry, the number of unskilled workers recruited
in a short time, mainly depending on the construction time in each locality, so the basic training to help this group quickly get acquainted and grasp the regulations and requirements of the Company is always focused on by the project commanders to implement appropriately and promptly. In addition, the Company is also committed to creating training and development opportunities for all employees, monitoring and evaluating training and development activities.
Performance evaluation: The Company is determined to implement the performance evaluation and employee development process well and gradually apply new, effective and suitable processes to the joint stock enterprise model and the market economy. In addition, the Company always focuses on ensuring fairness and transparency in the evaluation process, thereby creating a basis for reviewing and adjusting employee performance/performance with the set goals.
Employee treatment: A transparent and fair treatment policy is the foundation for a harmonious relationship between company leaders and employees, while also motivating employees to perform better, creating opportunities for healthy competition among employees, and creating development opportunities for capable employees. A treatment policy based on annual performance evaluation minimizes complaints from employees, creates an environment for employees to perform better, and improves overall work efficiency.
Not only that, these human resource management activities also have a negative impact on production and business efficiency and increase the Company's competitive advantage.
Table 2.2. The opposite impact of human resource management activities on the Company's production and business efficiency
human resource management
WorkAffect | |
Recruitment | High quality human resources, creating high efficiency/productivity, dynamism, creativity and the highest standards in customer service, construction as well as being suitable for the culture. corporate |
Training and development | - Employees are trained and developed with the skills and competencies necessary for the job. - Develop a corporate culture that is highly effective in productivity, quality, customer service standards, growth and profitability. - Allow employees to express themselves to achieve the highest work efficiency, share knowledge with colleagues and create trust between leaders and employees. |
Performance appraisal | - Help employees self-evaluate their abilities/skills as well as their contributions to the Company, thereby being able to build their own training and development plan. - Help managers understand employees' capabilities, thereby planning appropriate training and development to achieve the Company's goals. |
Employee benefits | - Increase work motivation, long-term commitment to work and company. - Reward employees based on their contributions to work |
2.3.2. Contribution of integrating human resource activities with business strategy in improving the efficiency of the Company's production and business activities
The goal of human resource policies and activities is to improve the efficiency of business production activities of enterprises through the human factor.
In business strategy and in practice, the Company recognizes the role of human resource activities in improving production and business efficiency. In general, the development of the Company in recent years cannot deny the role of human resource activities in the following main aspects:
- Enhance employee engagement with the Company and employee motivation.
- Recruit suitable staff for important positions in the company.
- Develop skills and capacity of staff in the Company
- Empower employees to have the opportunity to demonstrate their abilities well.
- Create career opportunities for employees.
- Apply and test the annual performance evaluation process, reward and punish the right person for the right job.
- Implement more regular policies on preferential treatment for staff, both material and immaterial.
- Develop harmonious relationships with employees in which workers have a certain voice in the Company's activities.
The relationship between human resource activities in improving business performance is shown in two main aspects summarized below.
Table 2.3. Contribution of human resource activities to business performance
Company's business
Effective human resource management | Company's business performance |
- Create a corporate culture that focuses on productivity and quality. - Employee motivation helps improve production and business efficiency. | - Bidding: In 2009, the Company participated in bidding for 13 projects, won 7 projects and construction items with a value of 325 billion VND, exceeding the set plan, and received 1 construction item with a value of 1,034 billion VND. - Production and business: undertook construction of 23 projects and project items, completed 9 projects. - Production and business value: achieved 170,044 billion VND/170 billion VND, reaching 100% of the plan. plan and increased by 17% compared to 2008. |
Employee commitment and contribution to the Company is linked to high standards of productivity and quality of customer service. | - Gain customer trust and satisfaction. - Won many production and business contracts business through customer relationships and trust. |
- The effectiveness of human resource policy processes is demonstrated through the annual revenue growth index. Basic human resource management activities such as - Recruiting competent staff - Developing employees' capacity and skills - Restructuring the room structure business unit | Annual revenue growth: VND 126,939,268,755 (2007) 131,900,760,767 VND (2008) 149,024,308,833 VND (2009) |
Table 2.4. Impact level of key HR activities
Human resource planning | Employees work with the highest level of motivation, autonomy and flexibility. Ensuring job satisfaction, bringing high efficiency |
Training and development | Developing skills and enhancing the capacity of workers Encourage training and employee skills development. |
Employee benefits | Increase work motivation and commitment by rewarding employees based on their own contributions to work. |
Attract and retain qualified and competent staff | High quality human resources serve production and business needs and strategic plans. Attracting, developing and retaining qualified and capable staff helps create the highest efficiency and quality of work. best |
Corporate culture | Clearly demonstrate the vision, mission and core values that Company pursuit. |
2.3.3. Existing problems and causes
2.3.3.1. Limitations in the quality of building human resource programs/activities
Although there are advantages in the process of building human resource programs/activities associated with the Company's general business strategy, the process of building programs/implementation plans still has certain limitations. In other words, the company's leaders are aware of
Although the importance of human resource strategic planning is recognized, the process of turning those strategies into action programs is still limited, so currently the Company has only stopped at planning human resource policies and activities, and has not yet built its own appropriate and effective human resource strategy.
In order to effectively translate human resource policies into concrete actions, the Company is still limited in clearly defining the goals of the linkages between departments, groups and individuals. Each individual must also be clearly aware of what needs to be done to successfully carry out their strategic tasks. The implementation of human resource activities requires sufficient resources to implement human resource programs/plans to improve the Company's key areas of operation. Depending on the priority level, resources need to be allocated appropriately to make a real difference in the focus on each area of improvement.
2.3.3.2. Limitations in the implementation of human resource management programs/activities regarding the integration of human resource activities with the company's business strategy.
Limitations in human resource planning
Human resource planning can be considered the most difficult and important activity in the field of human resource management today. Although the role of human resources is recognized, human resource planning in the Company has not been implemented according to its importance. Human resource planning can clearly identify the number of human resources as well as the skills needed to successfully implement the Company's business plan. However, the Company needs to focus on creating the premise for developing current human resources to be capable of achieving future goals, not simply increasing the number of employees. Reasons