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PROGRAM TITLE: Higher Nationals BusinessUNIT TITLE: Human Resource ManagementASSIGNMENT NUMBER: 1

ASSIGNMENT NAME: Assignment 1SUBMISSION DATE: 18 November 2022DATE RECEIVED: 15 October 2022TUTORIAL LECTURER: Pham Xuan HungWORD COUNT: 2637

STUDENT NAME: Nham Thi Thanh HuyenSTUDENT ID: BKC13271

MOBILE NUMBER: 0934629292

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<b>Internal verification:</b>

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Table of Contents

Briefly introduce the company... 4Among main areas of HRM (e.g: resourcing, employee relations, organisational development and design, learning and development, etc.), choose and explain (with specific evidences) at leastTWO areas that the chosen company is applying...4With the TWO chosen areas, decide and explain which area is more important in creating sustainable organisational performance...5State some recent changes in the chosen company...6Determine the skills and knowledge that human resources in the company should adapt due to such changes of the company... 6Examine the methods that HRM department of the chosen company should carry out to help staff gain the skills and knowledge required above...6Evaluate the strengths and weaknesses of the upper methods...7State the business objectives of the chosen company...8Review relevant HRM practices to recruit and retain staff to help the company gain the

objectives... 8Evaluate the upper HRM practices...10Examine if the relevant HRM practices to recruit and retain staff are competitive in the labour market... 11References... 13

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Briefly introduce the company.

Nestlé Vietnam Co., Ltd. was established in 1995 with 100% foreign investment capital and belongs to Nestlé S.A Group. Nestlé S.A. is the largest food and beverage company in the world. Nestlé is present in 191 countries with 328,000 employees worldwide, headquartered in Vevey - Switzerland. Nestlé is committed to improving the quality of life and contributing to a healthier future for consumers around the world. Over the years, Nestlé Group has continuously invested in new construction, expanded production lines at factories and diversified products to serve the needs of food, nutrition and healthy living for consumers in Vietnam.

[ CITATION VNR22 \l 2057 ]

Among main areas of HRM (e.g: resourcing, employee relations, organisational development and design, learning and development, etc.), choose and explain (with specific evidences) at least TWO areas that the chosen company is applying.Two of the HRM areas that Nestlé is applying are Financial compensation and talent development - performance management.

1. Financial compensation: including direct compensation and indirect compensation. Nestlé's average salary ranges from about 9 million VND per month for sellers, 10 million VND per month for factory operators, and 10 million VND per month for forklift drivers. In addition, employees working at Nestlé will receive a salary bonus for the 13th and 14th months. That award is usually given in the December of each year. Moreover, employees at Nestlé also receive bonuses according to the recorded business results.

[ CITATION IND22 \l 2057 ][ CITATION top22 \l 2057 ]

Nestlé employees are paid: Health insurance, social insurance and access to top health care benefits. All NESTLÉ employees receive Generali health insurance (employees are examinedand treated in high-end hospitals and clinics). Employees who use Nestlé's nutritional products are free to buy at the factory and can buy Nestlé products at a more favorable price than the market. In addition, employees use the company's means of transportation.In addition to holidays and Tet, each Nestlé’s employee has the equivalent of 3 working weeks. In particular, Nestlé also has a maternity policy with a paid maternity leave of at least 14 weeks and has the right to extend the leave period up to 6 months.

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2. Talent development and performance management

- At Nestlé, a high-performance culture is supported by rewards and differentiated growth.

- Online management and staff work together to ensure that the goals set are evaluated effectively throughout the year. Each manager takes the time necessary to monitor the goals and coaches regularly throughout the year.

- Employees receive regular feedback on their performance and career aspirations through a variety of tools and processes (Performance Evaluation (PE), Progress and Development Guidelines (PDG), and 360° assessments).

- Employees who are interested in international missions can be given the opportunity to work in different countries. Nestlé has focused on removing barriers to career growth for women and men by developing more flexible work environments, initiating mentorship plans, having flexible career paths and dual career support. - The company implements an active and rigorous planning process at all levels to

ensure that there is a robust legacy system ready to meet future needs.

- HR management provides, support to deploy the necessary tools and cooperate with managers online. From there, prepare the necessary resources for the continuous development of people and companies.

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State some recent changes in the chosen company

16/7/2022 Nestlé Vietnam Co., Ltd. and Starbucks brand officially launched the new Starbucks premium instant coffee product (Starbucks At Home) for the first time in Vietnam. This new product includes four typical Starbucks coffee flavors: Dark Roast, Caffè Mocha, Caffè Latte, Caramel Latte.

After the research departments of both Nestlé and Starbucks released the new instant coffee product, the staff of the production department needed to know about the formula and how to mass-produce this instant coffee product.

The human resources department needs to ensure that the marketing department needs to have full knowledge about the product such as ingredients, processes, the novelty of the new coffee line. Above all, it is to set up marketing strategies with customers through all online sales channels such as Lazada and large supermarket systems such as Topsmarket, CoopXtra, Coop Fineline, Aeon, Lotte, Emart, Winmart.

The Human Resources Department works with the Finance Department to ensure that Nestlé has the necessary amount of cash for the business activities of the new product. And make sure Nestlé is managing and using the funds as efficiently as possible to meet the full financial obligations of the newly launched product.

Examine the methods that HRM department of the chosen company should carry out tohelp staff gain the skills and knowledge required above.

Internal training: Both Nestlé and Starbucks should have internal training sessions or training sessions between 2 companies for product production staff with product research anddevelopment departments to learn ways to make new products. The Marketing Departments of Nestle and Starbucks also need to have a training course on product-specific information from which to have business strategies for target customers.

Human Resources Department in conjunction with other departments:

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- Create working sessions between the marketing departments of both companies: Should have discussions and work between employees to come up with the most effective strategies to optimize benefits for both businesses.

- The human resources department coordinates with the finance department to control the finances, regularly comparing the actual financial situation against the financial statements. And be responsible for evaluating and setting the operating budget of the newproduct. Also outline a specific plan regarding the funds that need to be spent, providing specific guidance on how to spend these funds.

Evaluate the strengths and weaknesses of the upper methods. Strengths

Internal training:

- Save on training costs and the cost of hiring trainers

- Training content is associated with real work: learners will quickly master the skills ofperforming the job.

- Based on internal training programs, businesses can build a well-working team with highly specialized skills and mutual support. From there, departments can also strengthen relationships, communicate and interact with each other more, work more effectively as a team, and create greater value.

- The internal training program is implemented by the company itself, so it will help employees save time. Employees can also take the initiative, and feel more comfortable and excited about the training program.

Human Resources Department coordinates with other departments:

- Increase productivity, promote creative thinking about strategies, and improve motivation.

- Help employees support each other and learn problem-solving skills.

- Promptly detect material errors, promptly fix them, and promptly make adjustments. From there, the company promptly has transparent financial statements, capturing the actual business situation to provide information to investors.

- Help businesses review vulnerabilities in terms of internal controls, financial and accounting. Based on that, enterprises promptly adjust, overcome and change the working process to reduce risks and errors, achieve better efficiency.

Weaknesses

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- It takes time to control because the cash flow is constantly flowing.

State the business objectives of the chosen company.

Nestlé Vietnam has introduced two initiatives aimed at net-zero emissions targets by 2050 as well as Nestlé Vietnam's. The initiative includes a circular economy model in coffee production and the pioneering replacement of 100% plastic straws with paper straws for ready-to-drink products using straws. Particularly with the recirculating coffee production model, Nestlé contributes to reducing the average emission of 12,679 tons of CO2/ year and uses 100% of biomass energy from coffee grounds to replace 74.4% of fuel sources from DO oil as fuel to operate the boiler.

[ CITATION TVũ22 \l 2057 ]

Review relevant HRM practices to recruit and retain staff to help the company gain the objectives.

1. Financial compensation1.1. Direct compensationSalary

Nestlé's average salary ranges from about 9 million VND/per month for sellers, 10 million VND/per month for factory operators, 10 million VND per month for forklift drivers.[ CITATION IND22 \l 2057 ]

[ CITATION top22 \l 2057 ]Bonus

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Employees of Nestlé will receive the 13th, and 14th-month salary bonus and this award are usually awarded in December every year. However, whether or not employees receive thisreward depends on the time of their accession.

In addition to year-end bonuses, employees at Nestlé also receive bonuses according to recognized business results. That means that when employees do well, generating a lot of profits that help the company grow, the reward they receive will increase. This is one of the effective ways to motivate employees and increase their dedication to the development of the company.

1.2. Indirect compensation

Nestlé’s employees are paid: Health insurance, social insurance, and access to top health care benefits. All NESTLÉ’s employees receive Generali health insurance (employees are examined and treated in high-end hospitals and clinics).

Employees who use Nestlé's nutritional products are free to buy at the factory and can buy Nestlé products at a more favorable price than the market. In addition, employees use the company's means of transportation.

In addition to holidays and Tet, each Nestlé’s employee has the equivalent of 3 working weeks. In particular, Nestlé also has a maternity policy with a paid maternity leave of at least 14 weeks and has the right to extend the leave period up to 6 months.

[ CITATION stu22 \l 2057 ]2. Non-financial compensation 2.1. Health and wellness care

Every week Nestlé implements various initiatives such as wellness and organizing clubs that help people connect and live positively. Every morning, they discuss how to protect employees' health and safety. Every week Nestlé hosts a listening session on the thoughts andaspirations of its employees. In addition, every year NESTLÉ organizes teambuilding activities and challenging sports activities such as Football Champion League ...

The company's facilities are fully designed, comfortable with open space with many utilities for employees.

2.2. Career Opportunities

Every manager at NESTLÉ is asked to motivate and support employees to find ways to improve at work, constantly changing and innovating. They always motivate individuals to look for opportunities to strive and learn, thereby developing their abilities as well as career paths.

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At Nestlé, there are specific training programs such as literacy for factory workers. This program helps factory workers increase their productivity, maintain a positive working attitude, and argue confidently. Nestlé offers Nestlé apprenticeship programs for students outside the company or training locally to meet high-quality human resources.2.3. Learn and share

Constantly learning is a prominent part of Nestlé's culture. Each member regardless of the position needs to learn and improve their knowledge and skills constantly. The spirit of learning is considered an indispensable condition if you want to work at NESTLÉ. Each employee has the opportunity to improve themselves, and open up opportunities for development and promotion through continuous internal training programs and consistency with work goals.

The value and trust that Nestlé brings to the people who work is the relationship between colleagues, recognition, and the ability to learn and grow when working for a global company.

Non - Financial compensationWorking conditions

Nestlé cares about everyone who works inside or outside of a Nestlé facility. Nestlé is committed to providing employees with good working conditions, a safe and healthy workingenvironment.

Nestlé values building relationships based on the trust and respect of employees at all levels. Nestlé does not condone any form of harassment or discrimination. At Nestlé, everyone has the same opportunities, regardless of origin, nationality, religion, ethnicity, gender or age. Therefore, managers are committed to building and maintaining an environment of mutual trust. Nestlé's employees are assured that their voices will be heard.

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Learning and training

Nestlé prioritizes training and development. The responsibility for turning these into actions is shared among employees, online managers, and HR. Nestlé also offers a comprehensive range of training activities and methods to assist people in learning and development.Career Opportunities

Every manager at NESTLÉ is asked to motivate and support employees to find ways to improve at work, constantly changing and innovating. They always motivate individuals to look for opportunities to strive and learn, thereby developing their abilities as well as career paths.

[ CITATION stu22 \l 2057 ]2. Weaknesses.

Financial compensation

It costs a lot to pay for the compensation of employees in terms of high salaries and bonuses.Financial compensation is an unsustainable strategy (the company only meets it when it succeeds).

Financial compensation also makes employees more susceptible to being hooked by companies with higher salaries, more attractive than their own.

Non - Financial compensation

Although it is a non-financial compensation, it still generates finance. Typically, organizing team building, organizing annual tourism, building facilities to help employees comfortably work, organizing internal training sessions ...

The non-financial compensation is difficult to measure levels of success, and it is also hard togive criteria to evaluate.

Examine if the relevant HRM practices to recruit and retain staff are competitive in the labour market.

Current labor market situation in Vietnam: Vietnam's population is young population with abundant and cheap labor. Most of the workers are young people. In Vietnam, the wave of jobshifting from the state to the private sector is popular. Currently, Vietnam lacks highly qualified and specialized personnel and lacks personnel in new fields. Labor resources in Vietnam have a surplus of teacher shortages.

Nestlé's compensation:

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