The banking system, which funds more than 60% of capital of the economy, has played an important role in the country’s success, contributing to curb inflation, maintain economic growth and promote investment. According to the National Financial Supervision Commission’s report, the industry’s total assets were up 11.5%, of which total credit growth was estimated to increase by 14 – 15% (2017 was 17.6%). Although it was the lowest in the past three years, it was consistent with the goal of inflation control and economic development.
Given that background, VPBank had a successful business year, contributing significantly to the overall development of the industry, owning to its higher growth rate, and efficient risk and cost management. With remarkable achievements in Quality, Efficiency and Sustainability, the year of 2018 created a stepping stone for VPBank to achieve challenging goals as well as positive outcomes in the upcoming years.
(VPBank) becomes the first private bank of Vietnam named in The Wold’s Top 500 most valuable banking brands, according to Brand Finance. VPBank has been one of the most profitable private banks in many years, with strategic segments focusing on retail customers, consumer finance, household and SMEs.
In the field of digital banking, VPBank is the pioneer in offering new digital financial banking such as VPBank Online, VPBank Dream, SME Connect and YOLO.
In recent years, VPBank has consecutively achieved numerous awards from prestigious domestic and foreign organizations such as “Vietnam happiest places to work” and “Vietnam best banks to work” honored by Anphabe & Nielsen.
HUMAN RESOURCE DEVELOPMENT
VPBank prioritizes talent development as the focus of HR strategies, and positive experience of employees as the focus in HR Operational Excellence. From 2018, with the Workforce Segmentation Model, VPBank has identified the bank-wide critical roles where the Bank will make disproportionate investment in the future. Besides, another important component of talent development is the Succession Planning for senior leaders. This has also been implemented for all divisions. In addition, the bank’s core competency framework, an important HR foundation, has been updated to accurately reflect the competency requirement, which will help to successfully implement the 2018-2022 strategy. Carrying out a comprehensive and synchronous talent management policy, VPBank is gradually strengthening the foundation for its plan to develop VPBank as a Home of Talents for 2019 and the following years.
Continuing to assert the title of Happy Workplace, at the Q4 of 2018, VPBank has run My Voice – the Employee Engagement and Effectiveness survey (EES) with 87% VPBankers responsed, equivalent to nearly 11,000 employees. The survey has shown that VPBankers are proactive in raising their voices to constructively challenge the status quo, contributing to the development of the bank as a sustainable happy workplace. The survey’s result also helps leaders to determine the level of VPBankers’ EES compared to the market, and to establish appropriate action plans for the next years.
VPBank has also invested in building an effective online Performance Management System (PMS) – which has been launched officially from the beginning of 2019 and is planning to invest further in HRM technology infrastructure such as HR MIS, LMS. This shows that VPBank has made pioneer movements in digitizing HR processes in order to optimize the operating workforce and provide data for HR decision making.
Along with digital investment, the operation initiatives were built and implemented based on the employment life cycle methodology aiming to improve employees’ experience. Right from the start of VPBank employees’ career journey, the bank has issued Employee supporting procedure and gradually implemented the new Onboarding program (one of those initiatives) with the Welcome – Familiarization – Adaptation – Integration roadmap for new employees. 100% of employees participating satisfied with the program. VPBankers are entitled to a comprehensive benefit and reward system including salary, bonus, competitive incentives that are in line with the market, the privileges Engagement Loan program, ESOP, special healthcare, annual leave and Saturday off program to improve employees’ welfare. Those are highlighted advantages of VPBank compared to usual practices.
Aiming at constantly improving employees’ competency, training activities are widely implemented for the whole bank with rich training programs, meeting the diverse learning needs of the bank’s employees. Every year, VPBank Learning Academy has conducted 780 courses (nearly to 20% of these are online) with 90,834 training participants.
Not only investing in developing internal resources, VPBank also paid great attention to attract and retain talents since they were students. In early November 2018, VPBank announced the VPBank Talent Scholarship 2018 with a total value of nearly VND 1 billion for 2 programs: “VPBank Shining Talents” and “Home of Talents”. VPBank also supported fresh graduates to access working opportunities at the bank by organizing Bank visit program for hundreds of students in Ho Chi Minh City.
With constant efforts following the defined HR strategy, VPBank is gradually proving its position as the Home of Talents in Vietnam banking industry.
“I am delighted and honored to know that VPBank won the Award “Best Companies to Work for” in Asia by HR Asia. This recognized VPBank’s efforts to build a happy workplace and an ideal destination for talents in Vietnam’s banking industry. Here will inspire all our staff and BOD to keep striving for the value “People Development” to successfully implement “Quality Growth” strategy.”
Mr. Nguyen Duc Vinh
“As VPBank turned to the age of 25, it means that I have been here for 17 years. I have devoted all my beautiful youth at VPBank. My love for the bank comes from my favorite job, as well as difficulties and challenges I have experienced in this dynamic working environment.”
Nguyen Thi Thuy Hang – Finance and Accounting Center
“Engaging with VPBank’s culture, you will understand why this bank was honored as “Happiest workplace in Vietnam”. A very few companies in Vietnam can take care of both mental and physical health of staff as considerate as VPBank. At the headquarters, all floors have pantry, medical room, and lactation room and gym center. Spectacular and artistic performances of VPBankers have never failed to surprise audience at internal events. “Work-life balance” is not difficult to get at VPBank.”
Tham Thuy Ha – Internal Audit Division