487.assignment 1 Frontsheet (2020 - 2021)
487.assignment 1 Frontsheet (2020 - 2021)
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I. Introduction:
Human resource management is becoming increasingly crucial in the face of tough competition and continually growing professional
qualifications of. The knowledge, expertise, and talents of these individuals will become a key driver of the company's competitiveness,
as well as a challenge for management in building an atmosphere and culture that allows the team to grow and contribute. This research
will integrate all of the knowledge and evidence needed to analyze and explain the function and nature of corporate human resource
management, while possessing the abilities and expertise to fulfill the company's goals and define its success as a Hoa Phat human
resources specialist.
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II. Introduction about the Hoa Phat Company:
1. History :
Hoa Phat started specializing in construction machinery trading in August 1992 and later expanded into other fields such as furniture,
steel pipes, structural steel, refrigeration, real estate and agriculture. On November 15, 2007, Hoa Phat was officially listed on the
Vietnam Stock Exchange under the ticker HPG. Currently, the Hoa Phat Group has 11 member companies nationwide with 25,424
officers and employees, with an office in Singapore. Steel production is the core business, accounting for more than 80% of the group's
total sales and profits. The main products of the Hoa Phat steel line include mild steel, hot rolled coil (HRC), prestressed steel, drawn
wire, steel pipe and colour coated corrugated sheet. With a production capacity of over 8 million tons of various types of steel, Hoa Phat
Group is the largest structural steel and steel pipe manufacturer in Vietnam with market shares of 32.5% and 31.7% respectively
(annual report, 2020). Hoa Phat has been continuously recognized as a National Brand for many years, in the Top 50 largest and most
effective enterprises in Vietnam; Top 10 largest private companies in Vietnam, Top 50 most valuable brands in Vietnam... With the
business philosophy of "Harmony for development", Hoa Phat spends tens of billions of dong annually to fulfill its responsibilities.
corporate society towards the community (HPG, 2021).
2. Vision:
The predecessor of Hoa Phat is a company specializing in the trading of various construction machinery and building materials since
1992. Officially incorporated in 1995, Hoa Phat was one of the first private companies under Vietnam's company law. Sent south. The
original name at the time of establishment was Hoa Phat Furniture Joint Stock Company (HPG, 2021). Hoa Phat Group is a leading multi-
industry group in Vietnam. In order to achieve today's success, the group has experienced many ups and downs. The company always
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proposes the fastest solutions that best meet all the needs of customers in domestic and export markets. With a pioneering ambition and
investment strategy - sustainable development, the vision is to become Vietnam's leading industrial manufacturing group, involved in
multiple industries, with strengths in steel production, traditional industries and industrial real estate (Phuong, 2021).
3. Mission:
The objective of Hoa Phat's corporate philosophy is "Harmony for Growth," with the mission: Harmony - with the development of
society, goods are always in the best interests of consumers. Cooperation entails long-term collaboration with a dependable partner
who adds long-term value to shareholders. Encourage - promote abilities, intellect and bring a nice life to corporate personnel.
Prospects - increased investment will significantly contribute to Vietnam's growth (annual report, 2020). According to Hoa Phat Group
(2021), the company always responds to the needs of consumers, contributing to the transformation of the national landscape and the
development of the community. In particular, the company always provides international high-quality goods and services, reasonable
prices, diverse designs and environmental protection. In addition, the company continues to innovate to confirm the reputation and
goals of a multi-industry company in Vietnam: dynamic, creative and leading in the world market. The Hoa Phat brand has always
affirmed the company's mission for the development of the community and the country through its corporate culture. HPG is aware of
its corporate responsibility to society. Hoa Phat continuously spends tens of billions of dong per year to fulfill its corporate social
responsibility to the community through a series of charity and social programs joining hands at locations across the country where the
corporation and other companies are working together. member companies located offices and factories. Thereby, Hoa Phat Group once
again affirms its mission and recognizes its positive contributions to the community and society (HPG, 2020).
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4. Core Value:
The core value of Hoa Phat Company is the philosophy of Harmony for Joint Development. This is reflected in the relationship among the
employees, between the Group and its partners, agents, shareholders and the social community, ensuring the harmony of interests of
stakeholders on the same boat, towards sustainable development. Especially, Hoa Phat Group has built a long-term, sustainable and
trusting partnership with the sales agents who have been with the Group since the beginning of its establishment (HPG,2020).
Hoa Phat Group, founded in 1992, has a long list of accomplishments since its inception and entry into the Vietnamese market. Hoa Phat
Group has achieved a slew of amazing achievements and accomplishments, particularly in 2016. There has never been a year in Hoa
Phat with so many amazing events and business accomplishments. In particular, as follows: Construction steel sales volume surpassed
223,000 tons per month for the first time in September 2016, and the company began exporting to the US and Canada markets; Hoa Phat
Steel Pipe Company was recognized to receive the President's Third Class Labor Medal in September 2016; 1 billion KWh of commercial
electricity is produced by coke coal and thermal power plants; Hoa Phat Furniture pioneers the application of 3D printing in production;
For the first time, Hoa Phat surpassed the profit milestone of 4,000 billion VND after 9 months, Hoa Phat achieved 23,709 billion VND in
revenue and 4,656 billion VND in profit after tax, completing 85% of the revenue plan and 145% of the year's profit...( HPG, 2017). In
addition, because the socio-economic situation in Vietnam is easily affected by external factors, HPG's operations cannot avoid objective
and subjective risks. The people-oriented business strategy is the core value of HPG's operations. The company has done this work well,
using resources effectively, optimizing goals and plans, applying equipment and technology to production and business, and combining
excellent talent teams to build business development and management strategies and capabilities.(HPG, 2021).
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III. Purpose and role, function of HRM:
According to Armstrong (2014), the definition of HRM is as follows, Human resource management (HRM) is a holistic and well-
coordinated approach to people's employment and development. HRM may be seen of as a philosophy about how people should be
managed, based on a variety of beliefs about human and organizational behavior. It is concerned with the contribution it can make to
improving effective effectiveness via people, but it is also concerned (or should be) with the ethical component - how people should be
treated in line with a set of moral standards. HRM encompasses policies and practices in the areas of organization design and growth,
personnel resourcing, learning and development, performance and reward, and the provision of services that improve employee well-
being (Armstrong, 2010).
According to Armstrong (2010), HR functions are concerned with the management and development of people in organizations. They
are involved in the development and implementation of HR strategies and policies and some or all of the following people management
activities: organization development, human resource planning, talent management, knowledge management, recruitment and
selection, learning and development, reward management, employee relations, health and safety, welfare, HR administration, fulfillment
of regulatory requirements, equal opportunity and diversity issues, and any other matters related to the employment relationship.
The IRS Survey of Human Resources Roles and Responsibilities (IRS, 2004) shows that HR departments spend 20% of their time on
strategic activities, 40% on administrative, 30% on back-office work, services consulting services and 10% for other activities. The HR
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function's client or "customer" is not only the manager, but also the front-line managers who actually implement HR policies and who
the function depends on to accomplish. jobs, employees and potential employers (Armstrong, 2010).
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80% over the previous year. Only in the fourth quarter Hoa Phat Group generated VND 26,166 billion in revenue and VND 4,660 billion
in profit after tax in 2020, increasing 43 percent and 142 percent over the same time the previous year. This is Hoa Phat's historical
record profit in a quarter, 2,42 times higher than the same period last year (Giap, 2021). Besides, the Human Resources Department also
contributes to the strategic planning of the company by applying various initiatives and plans to bring high value to HPG's human
resource strategic organization. As a result, the company's recruiting and retention strategy attempts to attract creative people who
meet development requirements based on consumer demands, while also maintaining and nurturing skilled staff (Annual report , 2020).
Employee motivation and long-term devotion to the organization are major priorities for the company. Employees are always the
cornerstone to HPG's success and development, and the firm does everything it can to create the greatest corporate culture and care for
its employees. HSG is also a corporation with a significant number of associated companies, branches, and human resources dispersed
around the country and abroad, therefore the company always hires from a variety of areas with varied credentials to generate diversity
in the workplace (HPG, 2020).
The strength of Hoa Phat's HRM is that HPG's Human Resources Department has a strong team of officers and employees with a large
number, they are all professional and highly qualified, have foresight and ability to handle Extremely professional risk managers in the
daily volatile economic market, they help the company stay strong and thrive through management strategies and processes and
promote training and recruitment methods. appropriate human resources from time to time (Annual report, 2020). In addition, among
the above strengths, there are still some weaknesses of HPG's human resources department as the corporation has a large number of
officers and employees with more than 25,000 employees and is spread across the country, so it will encountered a bit of difficulty due
to the culture of each region. This leads to difficulty in unifying the management method (HPG, 2021).
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IV. Internal and External in Workforce Planning:
According to two authors Armstrong and Taylor (2014), Workforce planning is a fundamental human resource management process
that aims to analyze, forecast and plan the workforce, evaluate and identify planned human resource interventions. built by the
organizational strategy and ensuring the exact number of people with the right capabilities to match supply and demand in the right
place at the right time to meet the organization's short- and long-term goals. With the task of formulating and setting strategic
orientations; Supply analysis; Demand analysis; Distance analysis; Solution; and Progress Monitoring are the six phases of the workforce
plan (NIH, 2019).
HPG is a big multi-industry conglomerate in Vietnam, with 11 connected firms and over 25,000 officers and workers spread around the
country, as well as a Singapore office. HPG has always been varied in terms of age, gender, and ethnicity because of its strategic culture
of "diversity" and justice. Create a setting that is both professional and engaging (HPG, 2020). Furthermore, HPG's workers have a wide
range of credentials. There is currently no public record on HPG employees' qualifications. However, at HPG, all staff are taught by other
HPG member organizations. Organize training on environmental safety, occupational safety and health, fire and explosion prevention,
and emergent occurrences in collaboration with functional units. Hundreds of office workers, in addition to industry workers, attend
professional training and retraining courses to increase their job productivity (HPG, 2020). Corporate culture and corporate sports are
also emphasized in extracurricular activities. Companies are continuing developing sports activities in 2020, with professionals
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partaking in events, holidays, team building, and fitness. This action, however, is only carried out on a modest scale at periods when the
pandemic is in remission to ensure the avoidance of the Covid19 epidemic. Faced with the government's policies on disease control and
economic growth, the Hoa Phat Group will maintain tight epidemic prevention and control measures while also promoting production
and commerce. This is also a critical option for the company to meet its future objectives, such as generating jobs, ensuring a secure
revenue, and introducing stronger social programs for employees (Annual report, 2020). The strong element is that HPG constantly
prioritizes workers, protects them, and has several rules in place to guarantee that employees stay with the firm for a longer period of
time. Therefore, creating business diversity, professional skills and quality will help HPG grow further in the future and easily penetrate
new markets. However, the weakness is that HPG is too focused on policies for employees, which will also affect the production, export
and import process or other partnerships. However, for HPG, employees are the main factor of success and the company always
prioritizes employee benefits above sales and profits (HPG, 2020).
With the enthusiasm to lead by quality, Hoa Phat Group has always invested and applied the most advanced technologies in its
production and business activities, ensuring to provide the market with quality products, sustainable value:
In structural steel, galvanized steel and steel pipes: Hoa Phat produces steel from iron ore using 100% closed-loop blast furnace
technology. All exhaust gas, dust, heat and process water are collected, treated and reused during the production phase, rather than
being discharged into the environment. In particular, the waste heat generated in the smelting process of coking coal is used to run the
generator, achieving 50-70% self-sufficiency in power generation, saving hundreds of billions of dongs every year, and reducing
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consumption at the same time. Electricity is more environmentally friendly. All production stages are highly automated,
comply with strict standards in Vietnam, the United States, the United Kingdom, etc., and are strictly controlled by the ISO 9001:2015
quality management system.As a result, Hoa Phat Steel Pipe products have superior quality, not only occupying the No. 1 market share
position in the country for many consecutive years, but also meeting export standards to many demanding markets such as Australia,
North America, and Latin America. , India… (HPH, 2020).
In the field of metal fabrication: Hoa Phat's wire drawing and prestressed steel products fulfill the majority of the demanding criteria
thanks to a methodical investment with all of Europe's top contemporary equipment. JISG3505, JIS3112 (Japan), BS4449:1997 (UK),
ASTM (USA) are among the most popular slots in the world. It is often praised by the market for its high quality (HPH, 2020).
In the field of refrigeration: Huafa Refrigeration Co., Ltd. always aims at localization, invests in the most advanced direction to
improve production technology, and provides consumers with high-quality products at reasonable prices. Deployed nationwide. The
company adopts a large number of advanced equipment imported from abroad...the whole line is fully automatic control, which reduces
the labor in the production process and makes the production process more efficient. High yield, reasonable price and best quality (HPH,
2020).
In the realm of furniture: Hoa Phat Furniture is becoming more powerful and solidifying its position as Vietnam's premier furniture
maker. Hoa Phat Furniture, with over 2,000 people and five locations around the country, is committed to investing in a vital, robust,
and effective strategy. The company's production lines are considered the most modern furniture production lines in Vietnam today,
with modern equipment from Japan, Italy, Germany, and Taiwan, such as CNC machine system, cutting machine, continuous punching
machine, plating line, powder coating line, furniture processing and manufacturing system, and so on.(HPH, 2020).
Finally: the agricultural sector: The feed factory system applies a fully automatic model from mixing to packaging finished products. In
breeding, Hoa Phat chooses high quality purebred breeds such as Yorkshire, Durock, Landrace pigs from DanBred of Denmark,
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Australian cows, Hyline Brown super egg breeHPGders from the UK and Australia... thoroughly use biosafety technology
and VietGap standards in animal husbandry, ensuring the safest and freshest pig, cow and poultry product supply to consumers (HPH,
2020).
Community-oriented businesses: Hoa Phat Group has always demonstrated itself as a socially responsible firm from the heart, with
the slogan "Harmony and Development" for more than 25 years in the market. Through social security activities and charitable
initiatives such as "Love Heartbeat," "Love Spring," delivering Tet presents to needy families, sending rice to needy patients, and offering
scholarships to people in need, among others. Students who face adversity obtain excellent achievements... (mora.vn, 2020).
Hoa Phat - Retaining employees with a stable, fair and democratic working environment: According to General Manager Mr. Tran
Tuan Duong, the company has fostered a civilized culture that helps departments to maintain good coordination in the working
environment at all times. There are no bad competitions, one-on-one battles or levels here. People always coordinate with each other to
work effectively. All employees are treated fairly and with respect, all opinions are respected, and even the wrong one can find the best
idea for the job. Especially in Hoa Phat, there is no discrimination based on origin, origin, or even based on initial qualifications.
Everyone is treated fairly and given a chance to prove their skills. Hoa Phat has established an open working environment where all
members have the opportunity to develop their creative abilities. "Hoa Phat's culture is like that, so everyone can work with peace of
mind while Loyalty protects the company's interests."(haymora,vn, 2020).
Outstanding corporate culture: The organization organizes spiritual entertainment, cultural, and creative activities on a regular basis,
assisting members in balancing work and life and building togetherness. The leadership and personnel were enthusiastic about these
efforts. For example, Hoa Phat furniture's 22nd birthday celebrations and thrilling and enthusiastic events, football tournaments or
family festivals, Team Building programs, and trips to famous monuments... (mora.vn, 2020).
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The strengths of these two factors make it easy for HPG to come up with a future vision plan, a strategic analysis plan, and
what the market needs to do to help the company succeed. Realizing that as product quality improved, which initially brought success to
the company's employees, HPG was highly regarded for applying advanced technology in production. Or the belief and spirit of unity,
the spirit of employees contributing to the construction and development of the company. However, the weakness of technology and
society is that these two factors are regularly changed and updated according to market trends and the needs of consumers and
employees. Therefore, HPG must keep up with the trend and progress of the society and update it constantly to improve and improve
the quality of its human resources and products.
4.4 Recommendation:
HPG is a large multi-industry corporation and has a strong position in the Vietnamese economy. Therefore, all policies and plans for
human resources and production need to be ensured and the risk is minimized to avoid causing damage to the corporation. As for the
technology factor, Hoa Phat has the characteristics of being an industrial group, so it is necessary to have a suitable roadmap, from
testing to applying part and replicate the model if effective. Through the inspection stages, it will be easy to provide to the market
products that guarantee the highest quality. The Group strongly encourages employees to come up with inventions and inventions that
are useful to the business, so it is necessary to improve the staff's expertise and have incentives to motivate. For example, the success of
Hoa Phat steel pipe invention of Mr. Hoang Ngoc Thach, Deputy Director Factory manager with many proposed improvement initiatives,
effectively applied in practice, the units under Hoa Phat Steel Pipe have saved the Group billions of dong per year. More importantly, the
movement has had a great influence on officials, engineers and workers in all workshops and factories of Hoa Phat Steel Pipe
nationwide. Regarding the social factor, Hoa Phat always performs well its role with society, this helps to contribute to the state's human
resources and build trust with the people and its human resources. From there, it will be easy to attract talent to the company and retain
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talent. Hoa Phat should focus deeply on 4 main groups of activities: Health - Education - Transport and Community. These
4 groups will help the corporation strengthen its position and reputation (annual report, 2020).
5.1 Recruitment:
Recruitment is defined as the “Process of seeking and attracting a pool of people from which qualified candidates for job vacancies can
be chosen”. Friedmann, & Puck, (2010) explained that human resources are the inimitable resource that addresses organizations
challenges, and makes a direct contribution to organizations’ sustainability, thus it is pivotal to attract those who are competent to fulfill
organizations emptions (Moh’d,2019).
Internal Recruitment
It is known also as “the internal labor market” (ILM), it referred to the process of filling the positions from within the organization,
either through transfer or promotion (Aravamudhan & Krishnaveni, 2016).
External recruitment
External recruitment is perceived as the most familiar strategy for recruiting talents with diverse ideas and creative solutions (Muscalu,
2015). This strategy has the advantage of bringing to the organization new knowledge, different experiences, despite that it will
sometimes affect employees’ motivation badly argued. Das, & Baruah, (2013) illustrated that external recruitment might equip
organizations with creative individuals. But these new comers will lack sufficient information related the organization, their colleagues,
and the nature of the tasks that had to be completed, additionally building mutual trust with current employees will take time.
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Hoa Phat Group Joint Stock Company is a major industrial manufacturing company in Vietnam, which started with the sale of
construction machinery and later expanded to furniture, steel pipes, structural steel, refrigeration, real estate and other fields. Steel
production is the backbone of the group, accounting for more than 80% of sales and profits, with many factories and branches in many
locations (Hoa Phat, 2019). Hoa Phat Group develops new career opportunities for many employees from all walks of life. Each position
at Hoa Phat has a unique recruitment strategy. In addition, the number of employees exceeds 25,000. To ensure long-term employee
engagement, the group offers a variety of attractive policies for employee recruitment, training and development, while creating an
atmosphere where employees can be fully creative (Hoa Phat, 2020).
Strength helps HPG to expand its resources, because it is a multi-industry company with many branches and affiliated companies, which
helps HPG attract many talents and recruit people from everywhere. However, recruiting will cause some difficulties. Because it will cost
employers time to check candidate profiles and assess capabilities, and spend a lot of money to train inexperienced candidates. In
addition, HPG also recruits on the company's website and recruitment pages (HPG, 2021). However, the number of applications will not
be guaranteed and applicants are also likely not serious.
5.2 Selection:
According to Roshani (2019) stated that the process of assigning suitable personnel to suitable jobs is called selection. This is the
process of aligning the organization's needs with everyone's talents and credentials. Only when there is an effective combination can
effective selection be made, the organization will get excellent performance from the employees by selecting the best candidate for the
required and suitable position (Roshani, 2019).
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5.3 Training and development:
Employee training and development is defined in human resource management as a process used by a corporation to increase the
ability and performance of workers and employees. It is an educational tool that offers information and direction to improve employee
performance by sharpening current skills and providing new concepts and knowledge to employees of an organization. an successful
training and development program should be based on an examination of training requirements to aid the organization in enhancing
personnel skills and increasing output (Armstrong and Taylor, 2014). In terms of Hoa Phat Group's training and development methods,
the Group's management consistently regard human resource quality as the key value that drives the enterprise's success. Human
resource training, development, and nurturing is always a top focus.
Companies in the group routinely offer a variety of training programs to help employees develop their skills and abilities (Hoa Phat,
2020). Companies in the Hoa Phat Group have been organizing training courses to refresh professional knowledge, occupational safety
and health, foreign languages, and other skills for employees since 2015 high-quality human resources, guaranteeing the Group's long-
term development (Nguyen, 2015). Hoa Phat Group collaborated with the Bank for Foreign Trade of Vietnam (VCB) to arrange a training
session on banking guarantee abilities for 150 workers from the Finance Department, the Supervisory Board, and the Legal Department
of the whole Group in early April 2015. The training curriculum is intended to assist Hoa Phat in saving major debts and obtaining
additional funds for working capital requirements. Simultaneously, improve the guarantee tool and eliminate implementation
challenges. Mr. Nguyen Van Phung - Senior expert, Former Deputy Director of Tax Policy Department - Ministry of Finance - also led a
professional training session on "Tax Policies and Updating New Points of Circular 200" for the Group's Finance.
Department. Finance, Director of Tax Administration Department of Large Enterprises - General Department of Taxation, personally
instructs personnel of Hoa Phat Group member firms' accounting and internal control departments (Nguyen, 2015). Hoa Phat Steel Joint
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Stock Company offered professional training for 100 new iron and steel manufacturing workers from April to June 2015.
Thai Nguyen Metallurgical School and University of Science & Technology lecturers have been invited. Trainees will be awarded
certificates at the end of the training term and allocated to factories to practice awareness, develop experience, and be ready to service
production in phase 3 factories and workshops. The Hoa Phat Iron and Steel Complex is going to start up (Nguyen, 2015)
Furthermore, in 2020, Hoa Phat Dung Quat Steel Joint Stock Company collaborated with Hanoi University of Science and Technology and
Vietnam-Korea College in Quang Ngai to offer a University Diploma 2 and Associate Degree training course. Communication between
colleges and universities in Materials Engineering for students who work for the company. This is the Company's first university
training course in Materials Engineering. In addition to this training course, the Company has deployed hundreds of additional training
materials throughout the years. Following the opening ceremony, the 111 students of the course were divided into two classes, and the
Human Resources Department cooperated with the school to design a scientific timetable in accordance with the students' ongoing
work at the Department. The course is scheduled to span two years, from 2020 to 2022. The organization of this training session
represents a significant effort by all stakeholders in allocating human resources and overcoming challenges posed by the Covid-19
pandemic as well as the recent natural catastrophe. However, with the determination, support, and maximum facilitation of the Board of
Directors of the Company as well as the Departments, the training course will add more highquality human resources to the Complex in
the near future (Hoa phat, 2020). As of December 2020, almost 100 training courses have been held at Hoa Phat Hai Duong Steel Joint
Stock Company, with a total number of training sessions totaling thousands of participants. Other Group member firms also collaborate
with functional units on a regular basis to conduct training on environmental safety, occupational safety and health, fire and explosion
prevention, and other occurring situations. Not only did the Factory block engage in training classes and specialized courses to boost job
efficiency, but hundreds of office staff workers did as well (Hoa Phat, 2020).
The strength of this training program is to improve the quality of employees and help them get jobs. In addition to face-to-face teaching,
HPG also uses online teaching to reduce costs, make it easier for employees to schedule classes, and ensure the distance order is still
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effective. However, the weakness is that this training program is only applied and implemented for office staff, and for
factory workers. Therefore, there is no consensus on the qualifications of employees.
In the publication "Handbook for performance management"(2009), Michael Armstrong defines as follows: "Performance management
is the process of continuously improving work productivity - by setting individual and team goals that are consistent with those of the
organization. strategic goals of the business, plan actions to achieve them, review and evaluate progress, and develop individual
knowledge and skills."
Hoa Phat Group has always set a determined goal to become a leading multi-industry corporation in Vietnam and internationally. And
provide customers with products and services of international standards. In addition to the corporate governance system and to
implement the digital transformation roadmap, increasing competitiveness, in addition to the corporate governance system. Example of
Hoa Phat's market penetration and expansion strategy initiated by a member of the Board of Directors - with the goal of expanding more
branches and bringing international quality Vietnamese products to Vietnamese consumers. The key point of this policy is to encourage
focus, teamwork and direct all employees towards the common goal of successfully expanding the company's market. Therefore, the
Group's strategy is to always promote teamwork to create prestige and trust in customers (Hanh, 2021).
In addition, the supervision of HPG's employees is also an important goal in the performance management process, the human resources
department always encourages and motivates employees to work together. Besides, giving regular evaluation will be a measure for
groups or individuals to rely on to strive. Therefore, when the CoVid19 pandemic occurred, HPG did not go bankrupt, but also had the
advantage of going back upstream to achieve unexpected profits thanks to loyal employees who worked hard to ensure that the plan
was on schedule. HPG, 2020). HPG has built up a strong team of talented personnel. In addition, HPG is always ready to openly accept all
suggestions from employees and customers to create credibility and trust (HPG, 2020).
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The strength of this market expansion strategy is that it has brought brand recognition to consumers and increased
production income. At the same time, it is easier to manage efficiency and labor productivity with the spirit of self-discipline and
teamwork in accordance with the company's requirements. But the weakness of the strategy is that teamwork and strategy-based make
some members lazy to do, depend and rely on others, make the evaluation of effectiveness and management substandard. Therefore,
HPG needs to revise its strategy of focusing on monitoring and evaluating employees more closely to ensure product fairness and
productivity of all employees (HPG, 2020).
5.5 Reward:
Because HPG is a large multi-industry corporation and stretches from North to South and has 1 overseas branch, each small company
and branch in the region will have different reward regimes, but Hoa Phat Still trying to be fair in the reward. For example, in 2016, after
a successful year with the steel industry, Hoa Phat Group (HPG) as a leader with impressive results. Therefore, as a form of recognition
and encouragement for the efforts of the whole team, employees and the Board of Management of the Group, the rewards are divided
according to the percentage of profit after tax agreed at the General Meeting of Shareholders. The remarkable thing about Hoa Phat is
that this business has a tradition of setting safety goals, year after year it always exceeds the target. Thanks to that, the reward also takes
place "annual" like the general meeting of shareholders. HPG applies rewards in two ways: financial and non-financial. In addition, Hoa
Phat Group always has reward programs, salary increase, 13th month bonus, year-end bonus, but also more incentives such as bonus
according to business results, or social benefits to motivate employees. employees stick with and work for a long time. In addition to the
insurance regimes prescribed by law, HSG employees are also entitled to buy personal health insurance and 24/24 health insurance.
(HPG, 2021). In addition, the corporation also brings motivation, peace of mind and confidence to employees when choosing HPG as
their second home to stay. HPG also organizes programs and field trips (HPG, 2020). The benefits that businesses bring to their
employees are motivating, doing everything for employees, rewarding them well, always fostering talents and encouraging employees
to work actively (HPG, 2020). It can be seen that HSG has very well implemented policies for employees, built trust between employees
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and managers, and received employee loyalty in return the company through caring services, generous benefits and a
sociable and professional working environment. Therefore, the strength of the bonus is help employees feel secure to work, devote and
stick with the company for a long time, helping employees try to complete the work to get more income for themselves and for the
company. The weakness is that many shareholders are afraid that the business will be "weak" when deducting such a reward fund.
Especially in the (Bakir, 2021) (Bakir, 2021)time of covid-19 before the upcoming situation of "thirst for capital" will be faced. Or the
limitation, and the lack of innovation compared to other companies, that many people feel unworthy or uninterested in having to work
for a reward they are not satisfied with (HPG, 2020).
VI. Conclusion:
It can be concluded that, Human Resource Management has an extremely important and necessary role of an organization. Managers
must strictly follow company rules, always keep a gentle attitude, be willing to listen to opinions and suggestions from many sources,
and treat colleagues fairly, sociably and amicably. If these things are done well, it will be an advantage to help managers easier to
manage, build the trust of employees and colleagues, this will make employees focus on working more because they always be treated
fairly. In addition, the human resource management department also plays an extremely important role in the management and training
of human resources. By always beside and fostering high-quality talents, HPG has been very effective in human resource management.
Besides, in order to organize and develop the market to always maintain its position in the future, human resource managers need to
strive to develop more excellent and professional training and management methods (HPG, 2021).
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VII. Reference
Armstrong, M. and Taylor, S. (2014) Armstrong’s Handbook of Human Resource Management Practice. 13th edn. United Kingdom:
Ashford Colour press Ltd. ( Accessed: 5/12/2021)
Armstrong, M. and Taylor, S. (2014) Armstrong’s Handbook of Human Resource Management Practice. 13th edn. United Kingdom:
Ashford Colour press Ltd. (Accessed: 15/1/2022).
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