UNIVERSITY OF BEDFORDSHIRE FOREIGN TRADE UNIVERSITY

SCHOOL OF BUSINESS HO CHI MINH CITY CAMPUS

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END-MODULE ASSIGNMENT

Module: Strategy and innovation

Code:

ASSIGNMENT 1 FOR EXAMINERS ONLY

Grade (in number):
………………..
Student: Nguyễn Thanh Nhi Grade (in words):
Student ID: 2145519128 ………………..
Cohort: Operations and project Examiner 1
(Signature & Full name)
management ………………..
Semester: I Examiner 2
(Signature & Full name)
Academic year: 2022-2023
………………..
Head teacher: Nguyễn Thị Thao
Submission date:
Student’s signature:

Ho Chi Minh City, October 2022

UNIVERSITY OF BEDFORDSHIRE FOREIGN TRADE UNIVERSITY
SCHOOL OF BUSINESS HO CHI MINH CITY CAMPUS
----------***---------- ----------***----------

END-MODULE ASSIGNMENT

Module: Operations and project management

Code:

ASSIGNMENT 1

Student’s full name: Nguyễn Thanh Nhi

Student ID: 2145519128
Cohort: Operations and project management
Semester: I Academic year: 2022-2023
Lecturer: Nguyễn Xuân Minh

Ho Chi Minh City, October 2022

STATEMENT OF AUTHORSHIP
Except where reference is made in the text of the end-module assignment, this
assignment contains no material published elsewhere or extracted in whole or in part
from an assignment which I have submitted or qualified for or been awarded another
degree or diploma.
No other person’s work has been used without due acknowledgements in the
end-module assignment.
This end-module assignment has not been submitted for the eveluation of any
other modules or the award of any degree or diploma in other tertiary institutions.

Ho Chi Minh City, January 2020

Nguyễn Thanh Nhi

TABLE OF CONTENTS:

1. Introduction:............................................................................................................ 1
1.1. Vinamilk’s history:........................................................................................1
1.2. Business areas:...............................................................................................1
1.3. Organization structure:.................................................................................2
1.4. Business findings:...........................................................................................4
2. Vinamilk’s policies to manage and develop its human resource:........................6
2.1. Talent management:......................................................................................6
2.1.1. Attracting and retaining talents:.........................................................6
2.1.2. Talent development:.............................................................................7
2.1.3. Vinamilk’s motivational measures:.....................................................8
2.2. Compensation:...............................................................................................9
2.2.1. Finance:.................................................................................................9
2.2.2. Non-finance:........................................................................................12
3. Evaluation and recommendation:........................................................................16
3.1. Evaluation:...................................................................................................16
3.2. Recommendations:.......................................................................................18
4. What can be learnt from these policies:...............................................................18
5. Conclusion:............................................................................................................19
6. References:............................................................................................................. 19
 1

1. Introduction:
1.1. Vinamilk’s history:
Vinamilk is Vietnam's largest dairy company. It was founded in 1976 as the
Southern Coffee-Dairy Company on the basis of three dairy factories from the old
regime: Thống Nhất (belonging to a Chinese company), Trường Thọ (formerly owned
by Friesland Foods, best known for its production of condensed milk that was widely
distributed throughout the South), and Dielac (Nestlé). In 1978, the company was
renamed United Enterprises of Milk, Coffee, Cookies, and Candies. From 1988 to
1989, Vinamilk successfully restored the Dielac Powdered Milk Factory and
launched its first batch of products of powdered milk and nutritional powder for
children to the Vietnam market for the first time. In 1993, it was renamed the
Vietnam Dairy Company. Following its first public offering on the Hồ Chí Minh
Stock Exchange in 2003, the firm formally changed its name to Vietnam Dairy
Products Joint Stock Company (Vinamilk). It maintains the top spot on Forbes
Vietnam's ranking of the top 50 brands in 2019, with a brand value of more than 2.2
billion USD (Vietnamplus, 2019). Vinamilk was named to Forbes Vietnam
Magazine's list of the "Top 50 Best-Listed Companies" for the eighth time in 2020.
Vinamilk is the only Vietnamese nutrition company on the list. In 2021, the dairy
sector in general is severely affected by the century pandemic, and Vinamilk is no
exception. However, Vinamilk has finished the "turbulent" year of 2021 by creating a
new revenue record, reaching the milestone of VND 60,000 billion VND for the first
time.
1.2. Business areas:
The company's main business areas include:
 Process, produce and trading of fresh milk, packed milk, powdered milk, nutrition
powder, yogurt, condensed milk, soy milk, beverages and other dairy products.
 Raise dairy cows, provide livestock breeds, and raise techniques and other areas
covered by the business license.
 2

1.3. Organization structure:

Vinamilk's organizational structure is professionally presented, and the
departmental distribution is scientific and coherent, decentralizing the responsibilities
of each member and department. The current structure of the company is as follows:
Figure 1.3. Organization chart and management structure of Vinamilk Milk Joint
Stock Company

-Shareholders Meeting is the highest authority of Vinamilk. They are responsible for
the development orientation and decision of investment projects. They also have the
right to appoint and amend the company's regulations.
-The Board of Directors establishes the Audit-Committee (Internal Audit Section),
Nomination Committee, Strategy Committee and Remuneration Committee to
support the BOD’s activities.
 Strategy committee: identify and orient development strategies, goals, strategic
plans, and develop long-term development management orientations for the
Company.
 3

 Nomination Committee: manage personnel problems involving members of the

BOM and the executive apparatus; establish and assess scale and component of
the BOM; suggest appointment and dismissal of BOM members, Chief Executive
Officer and senior managers; design human resource development plan.
 Remuneration Committee: establish policies on salary, reward, allowance, and
other benefits for members of the BOM and the executive apparatus; advise CEO
on business salary, reward, and income policies.
 The Audit Committee: improve the effectiveness of the control system, risk
management, internal and independent auditing, appropriateness and reliability of
financial statements; audit on a quarterly basis to monitor the implementation
plans, examine, review and discuss solutions to handle arising problems.
-The chief executive officer is in charge of the company's day-to-day operations and
is responsible to the Board of Directors for the implementation of the assigned rights
and obligations. She must carry out the Board of Directors' decisions and make all
decisions about the company's day-to-day operations.
-The internal control and risk management director is responsible for advising the
Board of Directors on how to reduce accidents, risks, and damages, enhance
capacity, improve operational efficiency, and meet the company's objectives.
-Executive Director-Finance: manage the company's financial activities to provide
accounting statistics, manage the company's capital and develop capital mobilization
plans to support production and business activities.
-Executive Director-HR, Admin & Pr: organize the organizational structure and
manage the personnel situation for the whole company. Carry out recruitment
activities as required, manage human resources, train employees and build a salary
and bonus system for employees. In external activities, it helps the company to
develop abroad in a favorable way.
-Executive Director-Dairy Development: manage staff in the department of sourcing
raw materials for production, research and develop materials and supplies for the
farming process.
 4

-Executives Director-Marketing: manage marketing activities, plan marketing

strategies and research to assess market needs; formulate and execute the company's
marketing strategies with the aim of satisfying customers and generating profits.
-Executive Director-Research and Development: conduct market research to expand
the company's distribution channels, develop company-oriented product research,
deployment plans, and propose product development projects.
-Executive Director-Production: establish production directions and plans; guide,
supervise, check, monitor, and direct production; and stabilize the quality of the
company's products.
-Executive Director-Sales: implement and organize the company's business activities,
conduct market research to serve as the basis for organizing and exploiting the source
of products.
-Executive Director-Supply chain: oversee and plan to bring products to market,
including the provision of sufficient input materials in production, and deliver
products to consumers.
-Strategic planning director: is responsible for the company's strategies, identifies
specific objectives from which to develop appropriate business strategies, evaluate,
implement and control strategy.
-Information technology director: directly advises and helps company leaders to
develop strategies and plans for information technology application, build and expand
information systems and databases in the company.
1.4. Business findings:
Difference Difference
2020/2019 2021/2020
2021 2020 2019 Amount
Amount
(VND) (VND) (VND) of
% of money %
money
(VND)
(VND)
Sales 61,012,074, 59,722,908, 56,400,229 3,322,67 5,89 1,289,165 2,16
reven 147,764 393,236 ,726,717 8,666,51 ,754,528
ue
 5

9
48,089,838, 2,599,85
Total 46,204,372, 43,604,520 1,885,466
660,845 2,218,05 5,96 4,08
cost 306,212 ,088,160 ,354,633
2

Profit 12,922,235, 13,518,536, 12,795,709

722,826, (596,300,
befor 486,919 087,024 ,638,557 5,65 (4,41)
448,467 600,105)
e tax

2,352,263,8 2,338,544,1 2,241,377, 97,166,4 13,719,66

Tax 4,34 0,59
33,909 66,881 757,666 09,215 7,028

Profit 10,632,535, 11,235,732, 10,554,331

681,400, (603,196,
after 972,478 234,125 ,880,891 6,45 (5,37)
353,234 261,647)
tax

-Over the years, the company's business performance has grown at a stable rate.
-Vinamilk's sales revenue has increased over the past 3 years. In particular, sales
revenue climbed by 5.89 percent in 2020 compared to 2019, and by 2.16 percent in
2021 compared to 2020. Total cost also increased steadily over 3 years. Specifically,
in 2019 it is 43,604 billion VND, in 2020 it is 46,204 billion VND and in 2021 it is
48,089 billion VND.
-Profit after tax in 2020 increased by 5.65% compared to 2019 with the corresponding
amount of 722,826,448,467 VND. In 2021, after-tax profit decreased to minus 4.41%
compared to 2020 with the corresponding amount of 596,300,600,105 VND. The
decrease in 2021 is mainly due to the high increase in total costs, the growth rate of
revenue is smaller than the growth rate of total costs, leading to a decrease in profit
after tax.
-Although Vinamilk's total sales revenue in 2021 surpassed 60,000 billion VND for
the first time, the profit after tax in 2021 declined to negative 5.37 percent when
compared to the profit after tax in 2020.
 6

2. Vinamilk’s policies to manage and develop its human resource:

2.1. Talent management:
2.1.1. Attracting and retaining talents:
Vinamilk continues to maintain the strength of human resources through recruiting
and attracting talents activities. From the need for human resources with professional
knowledge and skills, mastering global advanced technologies in dairy industry,
Vinamilk has consistently invested in building a force of young experts in diverse
industries such as: Dairy products processing technology, Veterinary Inspection -
Epidemiology, Technology and production line automation, Business, Finance, etc…
The rate of new recruits in 2021 accounted for 7%, of which young new recruits (<30
years old) was about 66.4%, contributing to development of a dynamic and potential
workforce. Furthermore, in order to retain outstanding personnel, Vinamilk
established new standards for an ideal working environment in which all employees
are devoted to complete care and maximum growth.
-Vinamilk has four key factors in attracting and retaining talents:
+Good human resource administration:
 Vinamilk has been credited by ASEAN and the Security and Exchange
Commission of the Philippines for the “Best corporate governance in Vietnam”,
in which human resource administration plays the most important part in
corporate governance. Employees’ benefits when working in Vinamilk:
 Having the chance to ultimately develop personal abilities
 Being given promotion opportunities
 Being respected
+Invest in talent development:
 Vinamilk has "tailor-made" strategies to develop the management team, such as
the program "Full scholarships to study abroad in Russia" for excellent students.
Investing in this program, Vinamilk has been building a force of young experts in
many important fields such as: technology for processing milk and dairy
products, veterinary inspection - epidemiology. In addition, with the Management
Trainee (MT) program, candidates will be trained in management skills,
organizational capacity, especially is to develop leadership thinking and vision to
 7

have full capacity and bravery to become middle and senior managers of
Vinamilk.
+Attractive working environment:
 Emphasizing autonomy, promoting the capacity of each individual, but always
ensuring the connection and cooperation in the collective, in the company. Over
the past time, Vinamilk has actively built a company culture under 6 principles:
responsibility, excellence, cooperation, creativity & initiative, integrity and
results-oriented.
 The spirit of innovation is also valued by the firm as a key aspect, as seen by
recent themes such as "Courage to Change" and "Change to Growth." This
enables Vinamilk to attract and retain people who are adaptable and eager to
change, as well as to promote innovation in order to keep up with new trends and
achieve long-term growth and development.
+Great remuneration:
 Vinamilk has always maintained and increased the factor "Health and spirit" for
employees throughout the years. Significant benefits provided by the corporation
to workers include a health insurance program for employees and managers'
family, the construction of service facilities, study and work support, and a focus
on constructing amenities such as a gym, yoga, swimming pool, and creativity
space 
2.1.2. Talent development:
-Vinamilk always gives its employees opportunities to improve knowledge in all
related fields to maximize their potential. In 2021, the organization of training was
affected by the Covid-19 epidemic, the large-scale annual retraining courses (from
100-200 people/class) and courses at external units were limited. Vinamilk took a
number of appropriate response measures in the training organization such as:
+Dividing courses into small classes with a maximum size of 30 people/class,
complying with regulations on distancing and epidemics prevention such as checking
temperature and hand disinfection before entering class, wearing masks during the
course, arranging seats at a distance of 2 meters, etc.
 8

+Online training form: searching external training units to organize online courses,
developing and implementing online training courses within the Company.
+Providing additional training during the stable period of the year when the epidemic
is controlled.
-As a result, the training at the Company was maintained and there were not many
changes compared to the previous years, employees were equipped with knowledge
and skills in accordance with the provisions of law and the Company’s applicable
standards, satisfying the requirements of capacity building to meet job requirements.
2.1.3. Vinamilk’s motivational measures:
-Motivation by bonuses:
+Ensuring adequate work for employees, workers' income is increasingly improved.
In addition to salary income, employees also have additional income from profits
divided according to their percentage of ownership in the company if the business
company is profitable.
-Motivation through work:
+The job is suitable for the professional qualifications, skills and experience of the
employees
+Fair and clear division of work
+Make their work more interesting
-Motivation through learning and advancement:
+The organization provides several training programs in a variety of flexible formats
for employees to conveniently attend classes. In 2021, Vinamilk had over 27,400
students participate in training courses to develop knowledge, skills, and
capacities... After overcoming difficult trials, the top faces were chosen to become
Vinamilk trainee administrators. Until date, this team has held crucial roles in a
variety of areas such as business, marketing, finance - accounting, strategic planning,
supply chain,...
-Motivation through employee participation:
+Members feel valued
+ Create cohesion
+More responsible
 9

+Vinamilk respects and appreciates the contributions and opinions of employees.

-Motivation through favorable working environment:
+Create a friendly working atmosphere, equality, cooperation, respect and mutual
trust
+Building and regulating behavioral connections between workers - administrators
and between employees members in organizations and businesses
+Ensuring hygienic and safe working conditions
+Organizing cultural, artistic, physical training, and sports movements... making
workers feel comfortable and relaxed
+Specify a specific working time
2.2. Compensation:
2.2.1. Finance:
2.2.1.1. Direct finance:
-Salary, bonus and compensation: The Salary and Bonus Policy is clear and fair, the
salary and bonus rates are competitive and highly appreciated on the labor market in
Vietnam. Vinamilk has been voted the most attractive recruiter in Vietnam in terms of
Salary and Bonus. In 2021, Vinamilk has about 10,000 officials and employees. On
average, employees at Vinamilk will receive an income of 6-15 million VND/month
+Construction base:
 Government regulations concerning money to employees: This is an important
basis for the firm in developing a suitable pay policy in line with the company's
factual circumstances and legislation.
 Firm financial situation: This is an important foundation for defining pay fund, its
creation sources for wage policy to conform with company practical finance
while also insuring the stimulus and equity to employees.
 Working conditions and labor structure: these are used to define the wage grade
and coefficient for each topic of labor that applies to each working condition,
position and title.
+Application entities:
 The whole company's employees, staff, and supervisors have excellent
performance and effort on working progress.
 10

+Application field:
 Senior executives from the board of directors, the executive committee, the whole
staff, and the employees all work for the company.
+Building with a purpose
 Vinamilk's wage strategy is very competitive, with the goal of attracting,
retaining and encouraging people to engage in and contribute long-term to the
company's growth.
 Every individual receives their equitable, suitable when recognizing and
rewarding individual, staff, and employee meets standard, ability, and degree of
preparedness for assignment.
 To provide inspiration and encouragement for corporate personnel to put in
greater effort at work and to make a long-term commitment to the firm's steady
development.
+Content implement:
 Salary level and way structure:
 The amount of pay, salaries required to recruit, retain, and motivate members of
the Board of Management (BOM), the leadership, in order to properly operate
your organization. A portion of the remuneration is determined on the outcomes
of the company's and each individual's activities. When suggesting a salary,
consider both the salary and the compensation. The business's subcommittee has
examined the influences on salaries and jobs in the industry, compared with the
comparable firm, Vinamilk's activity outcomes in General, as well as the
individual. Every year, a reward program is implemented at this firm that is open
to all employees.
 When proposing the company's salary and compensation, subcommittee considers
elements of wages and employment in the sector, compared with the operating
results of Vinamilk in general, as well as individual members of the Board the
Board of management(BOM) and staff home the PIN, reward programs also
apply to entire employees in the company.
 As a firm with substantial financial resources, the pay for each Vinamilk board
meeting is dreaming with other businesses. In 2021, The Board's salary, in
 11

instance, is approximately 25 billion for 11 members. Not only do leaders receive

a strong remuneration form of generation, but the compensation of Vinamilk
personnel is increasing.
 The salary announcement:
 The salaries of all management and Executive Board members are revealed
annually. The purpose of this publication is to assist investors in 19 understanding
the relationship between the wages of important positions and their city. Starting
pay for manufacturing line employees start at 1.8 million, while managers start at
4 million.
 Vinamilk believes that human people are Vinamilk's most valuable assets, as
wages are also the most efficient investment money. As a result of working at
Vinamilk, you will receive a pay that is both capable and competitive in
comparison to the market.
2.2.1.2. Indirect finance:
-Insurance:
+Accident and Health insurance
 Apart from rights of health check and treatment according to the medicine
insurance policy, the company has offered all its employees additional health
insurance and 24/24 accident insurance for all employees in the company.
Managers’ family (parents, spouse and children) are also offered health insurance
and accident insurance 24/24 by the company.
+Social insurance:
 All officers and employees working at Vinamilk are paid social insurance by the
company in accordance with the law, ensuring the interests of employees.
-Welfare:
+Periodic health check program for employees:
 Male employees: once a year
 Female employees: twice a year
Flu vaccine by injection is offered to all employees.
+Daily meals
 12

 The Company sets up collective kitchen to serve lunch for employees at each
unit, which are headquarter, branches, factories, farms and provide meals between
shifts for employees at the factories. Sources of the food used must have clear
origins which are supplied from the prestigious suppliers and be tightly controlled
for its input quality as well as the entire processing procedure to ensure that the
employees are served the adequate and safe nutrition meal.
+Sports programs:
 Vinamilk has also held programs, classes and encouraged all employees to join in
sports development so as to improve health
-Allowances:
+Allowances for annual outing trip, presents on festivals, Tet, birthdays, etc. and
awards for employees’ children who are high-achieving students. All welfare is stated
clearly in the Labor Agreement, applicable to all employees of the company.
-Absence pay:
+According to the policy, 100% employees can resume works after maternity leave or
sick leave. In 2020, there were 91 employees taking the maternity leave, all of whom
resumed work after leave according to the regulations.
2.2.2. Non-finance:
2.2.2.1. Working environment:
Vinamilk constantly aims to build and improve working environment, including
facilities and cultural environment, in order to create favorable conditions for
employees to maximize their capacity at work.
-Workplace safety:
+The occupational health and safety management system according to ISO 45001,
which controls occupational safety hazards, minimizes risks of injury and illness at
the workplace, and ensures employees’ health, is being deployed in Factories of
Vinamilk. In 2021, Vinamilk invested funds and human resources in the field of
occupational safety and health, in particular, regarding financial aspect, 18.46 billion
VND was invested to implement technical solutions for safety, technical solutions for
hygiene, personal protective equipment, occupational safety and health training.
+Organize annual safety guidelines and drilling programs for employees.
 13

+Establish anti-fire systems at the headquarters and all working facilities and ensure
that 100% of employees are trained on fire prevention and suppression once a year.
+Implement health care programs and provide employees with comprehensive health
and accident insurance, in addition to the health insurance coverage under the
provisions of Vietnam's Law.
-A diverse workforce, respecting differences and anti discrimination:
+With its current scale, Vinamilk is the workplace of approximately 10,000
employees from various fields and industries who work in different conditions
(offices, manufacturing factories, farms, etc.). Their desire is to create a cultural and
civilized working environment for their employees. To this end, they have always
been consistent with and encouraged their employees to follow the principles of
respectful and equal treatment to each other, regardless of their genders, regions and
religions.
-Anti-fraud and anti-corruption:
• At Vinamilk, the rules for anti-conflict of interest, anti-corruption and anti-bribery
are clearly, strict, and communicated to all employees in various forms: via
management personnel and email to all employees, as specified in the Code of
Conduct.
• Employees can provide information about Fraud and corruption through appropriate
channels
-Working condition:
+Vinamilk currently has factories and super factories equipped with modern, self-
contained, fully automated systems with large-scale intelligent warehouses, in
addition to an international standard farm system applied comprehensive 4.0
technology.
+In the working building, there are full facilities such as gym, yoga, swimming pool
and creative space
-Employees' rights under Vietnam's guaranteed:
+The relationship between the Vinamilk corporation and its employees is established
on a voluntary basis. Vinamilk commits that:
 All employees’ rights under labor Law are guaranteed.
 14

 Vinamilk absolutely does not use child labor and forced labor.
 The collective labor agreement is applied to all employees.
 Trade Union represents employees and protects their rights.
-Listening, sharing and improving working environment:
+Annually, Vinamilk conducts the employees’ idea survey to measure and recognize
employees’ awareness and satisfaction of its image, working environment, current
job, working relationships and the Company’s activities. In 2021, the ratio of
employees involving in the survey reached 91% and the average employee’s
satisfaction level reached 82.8%. This result is always stable at high level, which can
prove that the employees of Vinamilk always satisfy with the jobs, the training and
development policies, the salary, bonus and welfare policies and with its superiors as
well as the cooperation from colleagues.
-Freedom of opinion and expression:
+At each unit, there is a Trade Union as the representative to protect rights of the
employees. All contribution ideas, complaints and wishes of the employees are
encouraged to be shared and jointly solved through many forms: Suggestion Box,
email or daily discussion, periodical meeting with superiors or Trade Union,
Employee conference, etc., in the name of individuals or via the Trade Union.
Complaint procedure is established and notified
-Respect for democracy and transparency
+Vinamilk developed Labor Internal Regulations, Labor Disciplinary Procedure and
Democracy Regulations to ensure the implementation of democracy and transparency
principles at the workplace:
 Goodwill, cooperation, honesty, equality, openness and transparency
 Respect for the rights and legitimates interests of employers and employees.
 Not contrary to the law and social ethics
+The company will notify employees in advance in case of any significant changes in
its operations affecting employees. public and transparent information from Vinamilk
to employees comprise
 Production and business goals performance
 15

 Internal rules, statutes and regulations with respect to the legal obligations, rights
and interests of employees
-Working hours:
 Specify a specific working time (for example, within the specified working time 8
hours/day, employees need to be present at the company for 6 fixed hours, the
remaining 2 hours are time arrival and departure can be flexible)
2.2.2.2. Nature of work:
-Employees’ contribution and awarded:
 With the goal of evaluating employees in a comprehensive, efficient, fair and
transparent manner, the employee’s performance is assessed on the basis of clear
and measurable goals and indicators. In 2021, Vinamilk continued to maintain an
employee evaluation system including many aspects: monthly evaluation of
employees’ performance, annual evaluation of Work Objectives and Management
Capabilities. In addition, the Assessment module has been integrated into the new
Human Resource Management Software of the Human Resources Department to
systematize the employee evaluation results, contributing to improving efficiency,
quickness and accuracy to the Company’s Employee Achievement Management
System
 Vinamilk have policies of pay transparency and equality to ensure that
employees' salaries are in respect to their efforts and contribution. In addition,
Vinamilk offers its employees a portion of the company’s profits based on the
business' annual performance in order to encourage their efforts.
-Internal satisfaction:
 Vinamilk continues to receive positive feedbacks from employees through annual
surveys to measure and recognize employee satisfaction in many aspects such as
job satisfaction, training and development policies, salary, bonus and welfare
policy, satisfaction with superiors and cooperation from colleagues. In 2021, the
average satisfaction rate of units at Vinamilk reached 91.9%. This is the highest
rate among the years when survey is conducted.
-Staff development:
 16

 At Vinamilk, they are clearly aware of the importance of staff development in

terms of creating a positive and efficient working environment. A significant part
of their budget is thus allocated for annual staff training programs, both internally
and externally. The company's company's desire is to create the best opportunities
and conditions for Vinamilk's staff to improve their knowledge and personal
development and in turn, contribute to the development of the company and
community.
-Enhance social responsibility:
 Each Vinamilk member, in addition to fulfilling his/her work responsibility, is
also diligent in volunteer activities for the community through activities:
Contributing one day’s salary to support the victims suffering from natural
disasters, dangerous diseases, difficult circumstances; Mid-Autumn Festival
program at Thu Duc orphanage village, Donating books for charity purpose,...
-Members feel valued:
 Employees are not only attached to Vinamilk for financial reasons. There are
some more important things that motivate them, such as feeling proud of what
they do and are integral to the team's success. When greedy consult subordinates
in making decisions, they will feel they have their values and work add meaning.
This will make them put in more effort and commitment to ensure the success of
the department or company.
+ Create cohesion
 Employees who are not involved in decision-making will not work as hard and
often blame top management for bad results. However, when people working as a
team and making collective decisions helps to remove blame. This helps to create
a friendlier atmosphere in the business.
3. Evaluation and recommendation:
3.1. Evaluation:
Vinamilk has achieved great success in talent management and employee motivation,
gradually developing the system of high-quality human resources and contributing to
future sustainable development. Having attractive policies to manage talent and create
motivation helps employees increase productivity, promote creativity, increase
 17

attachment to work, and help employees feel meaningful in their work. Vinamilk
optimally exploits human resources, creates an enthusiastic and comfortable
atmosphere for employees, and attracts talents. Moreover, helping the society to form
new values, making the society more prosperous thanks to the success of Vinamilk.
-Advantages:
+Talent management:
 Vinamilk has a flexible working environment that is ready to change, encourages
innovation to catch up with new trends and thereby creates growth and
sustainable development for the company.
 Creating favorable conditions for employees to work loyalty: send employees and
their children to study oversea on dairy and dairy products, automate the
technological process and production, machinery and equipment for food
production, management in the dairy industry
 The company focuses on implementing policies that ensure reliability, stability
and comfortable for all employees. The employees have chance to promote their
abilities. In addition, the rights and obligation of health insurance, social
insurance and reward system are clearly implemented
 The policies that Vinamilk uses to attract and attract talented people are very
appropriate and keep up with the times
+Compensation:
 Compensation policy: Ensuring adequate work for the laborers, income of the
employees is improved. Rewarding and disciplining policies are implemented
equally and immediately
-Disadvantages:
 Training and developing policy is not implemented completely due to the large
number of employees and applying new technology into production line.
Employees are required to adapt, develop their skills quickly and frequently.
 The company implements many actions into motivating and maximizing
employees’ abilities. However, these actions are sometimes not effectively and
completely. It is required management team to monitor closely to ensure the
implementation
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3.2. Recommendations:
-Setting up a suitable system on rewards, fines, insurances and bonus
+Rewards, fines, bonus, insurance are one of the basic motivational measures for
employees in the company. These systems motivate employees to work, promote
creativity, and encourage implementation. Bonus is an additional wage, it motivates
employees to try their best in maximizing efficiency at work. Fines: Employees must
complete the work properly on time and follow the rules, therefore, in order to ensure
fair compensation, the company should take actions
-Building emulation and reward programs in labor
+Launching emulation to improve work quality and efficiency among staff and
employees.
+Organized to honor good employees every year on Workers' Month
-Organize training to improve qualifications for employees
+Organizing vocational training courses, improving skills, life attitudes... for
employees, will contribute to developing the capacity of employees, helping to
increase the company's productivity, training to reduce boredom when having to
perform a repetitive task in time long-term for employees, helping them get more
excited at work, training programs. Creation will be an opportunity for employees to
realize their potential, develop personally, they will stick with the company, have
more labor motivation, the company also easily attracts the workforce motivated to
progress when there is a need for recruitment
4. What can be learnt from these policies:
Two lessons can be learnt from these policies:
-Talent management policy:
+With the policy of attracting and retaining talents, Vinamilk annually organizes
festivals, commends employees' achievements, and draws experiences for employees.
In order to unite employees, Vinamilk regularly organizes entertainment festivals and
exchange tournaments to strengthen the solidarity of employees. Besides, Vinamilk's
policies also take care of employees' families, organize employee care activities, and
help them feel secure working for Vinamilk in the long term=> Vinamilk provides the
finest opportunity for all workers to establish equality and to construct and maintain a
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friendly, safe, and open working environment. Vinamilk clearly outlines the
principles and policies for workers in Vinamilk's company culture: "Treat all workers
with respect and fairness." This has resulted in a high-quality personnel resource.
+Vinamilk has a policy to support employees to participate in training courses to
improve their professional skills at home and abroad =>Achieving quality human
resources
-Compensation policy:
+Vinamilk applied many policies to support, improve income, welfare and protect
workers' health during the epidemic, such as proactively maintaining measures to
prevent epidemics in an active and proactive manner; adjust income support for
employees, and at the same time ensure welfare regimes=>This provides workers
with stability in their lives, allowing them to feel safe enough to continue to
contribute and work for the firm actively and efficiently.
5. Conclusion:
Human resources policy is one of the most important factors to any company and
business. It affects directly the existence and development of the company. Vinamilk
has a qualified and young workforce. To maximize the workforce and achieve the
company’s development goals and strategies, the company needs to establish suitable
and efficient policy and planning. In addition, attracting talents, training and
developing high-qualified personnel, and motivating employees is extremely
important. Human resources policy and planning have to be established and updated
based on current financial and operational status. Investing in human is always
profitable
6. References:
Lq, T. (2018) “Human resources plan of vinamilk.” Available at:
https://www.academia.edu/36328485/Human_resources_plan_of_vinamilk
(Accessed: April 7, 2022).
(No date) Com.vn. Available at:
https://www.vinamilk.com.vn/static/uploads/bc_thuong_nien/1648810578-
4e539cb472efee4d4310b7035f81bababdf170d46fa7ad64cc1d1f3495db91b7.pdf
(Accessed: April 7, 2022).
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sahil (2021) Management structure of vinamilk PDF, Desklib.com. sahil. Available

at: https://desklib.com/document/table-of-contents-olqe/ (Accessed: April 7, 2022).
(No date b) Com.vn. Available at:
https://www.vinamilk.com.vn/static/uploads/bc_thuong_nien/1617354921-
f48f48ff7baf40d9af270083a736eaaf0f52a6c5873367d134b4c83f193b0677.pdf
(Accessed: April 7, 2022).
(No date c) Com.vn. Available at:
https://www.vinamilk.com.vn/static/uploads/bc_thuong_nien/1585291614-
e5df6f54f1b460c71648e3b3974c13d41721ed54aaef4e256def7956f8cc7d38.pdf
(Accessed: April 7, 2022).
Sustainable Development (no date) Com.vn. Available at:
https://www.vinamilk.com.vn/en/sustainable-development (Accessed: April 7, 2022).
(No date d) Com.vn. Available at:
https://www.vinamilk.com.vn/static/uploads/article/1620207740-
efeb3c478d0d7f272ab76bdfe2864f6cdbb1cd51d3739ce9e378f8978e337cca.pdf
(Accessed: April 7, 2022).
(No date e) Com.vn. Available at:
https://www.vinamilk.com.vn/static/uploads/article/1463574417-
2af9d3789f5744a10530afb923a481342f3dad4bceec54110dce09940b10331d..pdf
(Accessed: April 7, 2022).
Table of content sustainable development report 2020 (no date) Com.vn. Available at:
https://vinamilk.com.vn/static/uploads/article/1618816520-
d81a593920bb76205f92770d36e54f2a14d7f124f481609fac1a85a0ddf1469a.pdf
(Accessed: April 7, 2022).
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