JSC Bank for Foreign Trade of Vietnam, formerly known as Bank for Foreign trade of Vietnam, was established from the Foreign Exchange Bureau (of the State Bank of Vietnam). Originated as a specialized bank for foreign trade, Vietcombank nowadays has become a, providing customers with a wide range of leading financial services in international trade; traditional services such as capital trading, capital mobilization, credit, project financing…etc., and modern banking segment such as forex trading and derivatives, card services, e-banking and so on. After half a century operating in the market, Vietcombank currently has over 13.560 employees, about 400 branches/ transaction offices/ representative office/ affiliates both in Vietnam and abroad, including Head Office in Hanoi, 1 Operation Center, 1 Training Center, 78 branches, over 300 transaction offices all over the country, 3 subsidiaries in Vietnam, 2 subsidiaries in other countries, 1 representative office in Singapore and 5 joint ventures. With more than 13.560 employees so the organization’s performance appraisal procedure is very focused. This is one of the difficult operations affect the success and development of the organization. When the performance appraisal procedure is adequate interest will be a great motivation for the bank employee activities and general dedication to a team’s strength. So I would like to analyse the performance appraisal procedure in order to find out its strengths and weaknesses and make suggestions and recommendations, helping Vietcombank improve performance appraisal procedure and make contribution to the development of the company. The content including: - Vietcombank’s performance appraisal procedure - Strengths/weaknesses and recommendations II. VIETCOMBANK’S PERFORMANCE APPRAISAL PROCEDURE 1. Subjects: The performance appraisal procedure is applied for all employees of Vietcombank including Head Office and branches.
_________________________________________________________________________________ 1 NGUYỄN MAI VIỆT THẮNG EMBA11C
HUMAN RESOURCE MANAGEMENT
Desiring to have a deep understanding of the performance appraisal procedure at Vietcombank, give some recommendations to improve work efficiency and employee relations. 3. The performance appraisal procedure diagram: Performance appraisal procedure was being implemented throughout Vietcombank, which is held 4 times in the end of 1st, 2nd, 3rd, 4th quarter each year. The process is described in the following diagram:
4. Step descriptions: Step 1: Creates a quarterly self-assessment table (Responsibility of the employees) The empoyees will make a quaterly self-assessment table based on “employee assessment standart table” (see attached appendix) from 26th to 30th of each quarter submit to direct manager for reassessment and approve. Step 2: Reassessment and approves (Responsibility of the direct managers) From 26th to 30th of each quarter, the direct managers will support the employees to complete the reports. Check criteria were not met and will reassess if necessary then approve and submit to the chief of Department. Step 3: Reassessment and approves (Responsibility of the chief of Department) From 26th to 30th of each quarter, the chief of Deparment will assess and have the right to decide the final result. The chief of Deparment will sum up the results of the assessment then approve and send a copy to Personal & Training Department (a copy stored in Department).
_________________________________________________________________________________ 2 NGUYỄN MAI VIỆT THẮNG EMBA11C
HUMAN RESOURCE MANAGEMENT