AIA Human Resource Management (Final)

The insurance industry was born in the integrated economy to ensure the safety of peoples mind and body. Because in life, it is impossible to avoid unexpected risks that need support policies. In fact, Insurance is one of the newly developed industries and has created a very strong wave in todays social life with the rapid increase in the quantity and quality of services. Currently, the insurance industry is attracting the attention of students. Therefore, the opportunity of Vietnams insurance industry upon graduation is huge. Every year, the demand for personnel in the insurance industry is constantly increasing, the social insurance agency always needs to recruit 1000 employees to do the right profession.

TABLE OF CONTENTS

INTRODUCTION 2

TASK 1: AN INTRODUCTION OF THE ORGANIZATION AND ITS HRM PRACTICES 2

TASK 2: A BRIEFING OF THE SPECIFIC HRM FUNCTIONS THAT STUDENTS PAY MOST INTERESTS 4

TASK 3: APPLIED HRM PRACTICES TO WHAT STUDENTS GAIN FROM THE COURSE 5

TASK 4: SELF ASSESMENT 6

4.1 COMMUNICATION AND COOPERATION 6

4.2 ACHIEVEMENTS 7

4.3 TEAMWORK AND COLLABORATION 7

4.4 CREATIVITY AND INNOVATION 8

4.5 PROBLEM SOLVING AND CRITICAL THINKING 8

CONCLUSION 9

REFERENCES 10

INTRODUCTION

The insurance industry was born in the integrated economy to ensure the safety of people's mind and body Because in life, it is impossible to avoid unexpected risks that need support policies In fact, Insurance is one of the newly developed industries and has created a very strong wave in today's social life with the rapid increase in the quantity and quality of services Currently, the insurance industry is attracting the attention of students Therefore, the opportunity of Vietnam's insurance industry upon graduation is huge Every year, the demand for personnel in the insurance industry is constantly increasing, the social insurance agency always needs to recruit 1000 employees to do the right profession However, the number of employees who can meet recruitment needs is in short supply and scarce due to limited specialized training institutions It can

be seen that the insurance industry in the future has great job opportunities, diverse vacancies, stable income for new graduates, because of the importance of insurance to

the economy, society

TASK 1: AN INTRODUCTION OF THE ORGANIZATION AND ITS HRM PRACTICES

AIA Vietnam is a member of AIA Group - the largest listed group with more than 100 years of experience in the life insurance industry with Asian origin AIA Vietnam was established in 2000 with the goal of protecting the prosperity and financial security of Vietnamese people AIA Vietnam is currently one of the leading life insurance companies and a trusted brand by customers and the public

During its operation in Vietnam, AIA Vietnam has achieved proud achievements such

as the honor of receiving the 3rd class Labor Medal from the President Certificate of Merit from the Prime Minister of Vietnam (2016) Certificate of Merit from the Ministry

of Finance, the Ministry of Labor, War Invalids and Social Affairs and about 40 provinces and cities nationwide 9 Golden Dragon awards Top 100 best places to work

in Vietnam by "VIETNAM HR AWARD 2014" initiated and organized annually Best Places to Work in Asia 2020 organized and announced by HR ASIA Magazine The

“Ideal Working Environment” Award (2018, 2019, 2020) is initiated and organized by Great Place To Work Business for the Community Award of the American Business Association in Vietnam for 3 consecutive years 2018,1019,2020

With the advantage of strong financial resources according to updated data on December

31, 2020, AIA is the largest group by market capitalization on the Hong Kong Stock Exchange, serving more than 38 million individual insurance policies and more than 16 million members Group insurance, total insurance amount is more than 2,000 billion US

dollars, Total assets are more than 326 billion US dollars, intrinsic value is 67.2 billion

US dollars, paying more than 16 billion US dollars in insurance benefits In 2020, the solvency margin remains strong at 489%, ranking first in the number of MDRTs globally (6 consecutive years: 2015 – 2020)

At AIA Vietnam, employees work in a dynamic environment, can promote creativity and always have opportunities for advancement According to General Director of AIA Vietnam, Wayne Besant: “Nearly 5 years with AIA Vietnam, I am proud to work with

my partners to create an environment in which all members of AIA Vietnam can benefit inspirational work and desire to give my best” To create such an ideal working environment, one of the HRM methods that AIA Vietnam applies can be mentioned as follows:

Empower employees AIA Vietnam builds a human-based corporate culture at its core, and AIA Vietnam is always committed to investing and developing people The message that AIA Vietnam always strives to create an ideal working environment and employee engagement is: Challenge - Empower - Maturity In order to attract and retain its employees, AIA has realized this message by always providing opportunities for employees to attend skill training classes and discuss their aspirations for internal rotation so that they can fully develop To measure the factors that create engagement, measure how well the company meets the needs set by employees In 2011, the group cooperated with Gallup - a famous polling organization in the US specializing in surveying, analyzing and evaluating employee engagement In Gallup's system, the Human Resources department plays an advisory role and "empowers" managers, so planning and implementing an action plan to engage employees will go hand in hand with business strategies business, and these plans also meet the unique nature and needs

of the function and each workgroup instead of just focusing on the entity

Create a cohesive environment Along with using the direct Gallup system, the effective measurement of the cohesion between members of the company is also held "offline", forums to share professional experiences such as internal social networks such as WAVE, employee clubs, Townhall in the main city, Happy Friday is a monthly program combined with birthday parties, outdoor activities for employees and families, CEO Coffee Chat program is an intimate meeting between the board of directors and employees at all levels According to Ms Nguyen Thi Nhu Thuy – in charge of recruitment: “Through exchanges, the company always creates favorable conditions for all employees to be updated on the business situation, share initiatives and participate employee engagement activities at the company”

And According to Ms Tran Thi Ai Lien, Deputy General Director of Human Resources

of AIA Vietnam: “At AIA, we understand that people are the key to unlocking all

potentials Only through the dedication and devotion of our staff can we achieve our vision of becoming the preeminent life insurance group in the world That's why we want to create and maintain a positive work environment where each individual is treated with respect and dignity so that everyone can bring out their best creativity every day workplace is the most important thing and is an integral part of the AIA code of conduct and operating philosophy”

TASK 2: A BRIEFING OF THE SPECIFIC HRM FUNCTIONS THAT STUDENTS PAY MOST INTERESTS

Compensation and benefits are always one of the top concerns of employees and it affects every aspect of human resource management in any organization Building a reasonable salary, bonus and welfare structure suitable for the business, retaining talents, and ensuring the profit of the business is always a problem posed by human resource workers

According to the company's statistics, the current number of employees of AIA Vietnam

is 393 people, of which 32 people (8.1%) are temporary employees and 361 people are full-time employees (91.9%) Including human resources departments such as: Board of Directors, Sales Department, Accounting Department, Human Resources Department, Information Technology Department, Internal Inspection Department, Fixed Cost Department, Operations Department, Customer Care Department Shows that there are many ranks and positions, so there will be a huge difference in salary with each other Besides, the salary of employees is also determined based on qualifications (University, college, master, doctoral degrees) and work experience and seniority at the company Example in position: Financial planner will have allowance and revenue from 16 - 30 million/month (excluding quarterly/annual bonus) for new employees and company benefits along with other benefits leave according to Vietnamese labor law

When working at AIA Vietnam, employees will be trained in skills: finding customers, creating demand, handling objections and taking courses on customer psychology and marketing to develop their capacity me In addition, employees will receive an additional 3 million VND training allowance Working every day in a high-class, modern and professional office located at Vincom Dong Khoi, District 1 Depending on the employee's ability, a clearly defined promotion route based on ability, for example from 6 months up to 12 months to management level or higher positions to help employees be more willing to try

Not only enjoying the above benefits, leaders also always favor and care for their employees Mr Wayne Besant, General Director of AIA Vietnam shared: “As soon as

the pandemic broke out, what I and the Board of Directors were most concerned about was the safety of all members of AIA Vietnam Because Life insurance is a business based on human factors and always puts people at the center of all activities We are constantly connecting, caring, sharing and accompanying so that all members of AIA Vietnam feel we are always together, moving forward together Over 6 years with AIA Vietnam, I am proud to create an environment where all members are inspired to work and want to give their best, even in challenging times"

With current positions, employees will receive a monthly salary commensurate with the employee's contribution (such as overtime, sales, ) Adequate remuneration will create

a sense of fairness for employees, improve productivity and quality, and help businesses attract and retain good employees

With an unlimited salary (many quarter contracts will have a high salary) will be rewarded if that quarter reaches the target and promoted to an outstanding level if consecutive quarters reach the target However, that new salary regulation creates a high competitiveness, pursuing individual interests but limiting collective interests

TASK 3: APPLIED HRM PRACTICES TO WHAT STUDENTS GAIN FROM THE COURSE

Changes in HRM have been applied by AIA Vietnam in the recruitment system to manage more than 1,100 employees and continue to increase

With the recruitment segment, AIA Vietnam does not want its recruitment department

to become a machine, the recruitment department is responsible for giving the mission

to the right person AIA Vietnam not only recruits candidates with the right set of skills and knowledge that contribute to the enrichment of human assets in the organization, but more importantly, they must feel proud of the value that the life insurance industry has to offer life brings to society

Evaluation array On a monthly and quarterly basis, each employee sets their own goals

to contribute to the development of the company, and management levels together with employees evaluate the completion of the goal Evaluation results are kept on company systems, accumulated over time and then aggregated to assess whether an employee is ready for the next level of career

All human resources processes in the organization from the time employees are outside,

to the time they join and until they leave, are digitized, except for the labor contract, which is required by Labor Law

AIA Vietnam is undergoing a great transformation, the cumbersome organizational structure has been changed, the management ranks are reduced and the ranks of specialists are increased, who directly create value for the organization to become the Organization for the future future With the Future Organization, employees at AIA Vietnam are encouraged to be able to freely choose to develop their careers in an upward direction as a manager or as an expert, depending on their own capabilities and strengths Dear This enhances the status of an expert in the organization and relieves the pressure

on the management role Therefore, at AIA Vietnam employees can choose to become

an expert instead of a manager, a bright spot that shows innovation in the career development of employees

And also according to Ms Tran Thi Ai Lien, Deputy General Director of Human Resources of AIA Vietnam: “When an employee finds meaning in his or her work, believes that the mission of the organization is consistent with personal ideals, and feels When employees see work as part of the culture of the organization, employees will no longer see work as just a tool to earn a living, but as a motivation And so, employees will develop a long-term attachment to the organization."

Currently, AIA Vietnam is applying technology, digital and analytical tools to support and enhance customer experience and bring customers the best experiences on digital platforms This transformation requires the company's employees to be digital-savvy, they must know how to use digital tools to find more meaningful and streamlined ways

of working, shorten decision-making time to Serve customers in the best possible way

TASK 4: SELF ASSESMENT

As you consider input from others, also do your own work Do some self-analysis about your work/study, your past and current level and quality of contribution to the organization/team, your commitment to excellence that will be needed for a larger contribution Give yourself an honest evaluation and improvement targets for your future development

4.1 COMMUNICATION AND COOPERATION

Strengths:

Strong interpersonal and interpersonal skills make it easy for me to determine the best approach to take with a company's clients, colleagues, and partners

Although I am a shy person by birth, I have excelled at improving my communication skills, which has made me feel comfortable asking for help, forwarding messages or exchanging messages concerns and delays

Area for Improvement:

I realize that I may have difficulty communicating my ideas or concerns clearly when feeling excited or stressed I'm very intuitive and writing everything down helps me form

my thoughts, so in the future I'd like to improve this by jotting down a few quick notes before sharing my opinion

4.2 ACHIEVEMENTS

Strengths:

I met or exceeded all of my OKRs during the year, most notably improving customer satisfaction with our company's products

I've had success building brand partnerships with companies like X and Y, with whom

we share considerable target market overlap By partnering with company X on project

Z, I have expanded our brand awareness and marketability to a previously untapped market

Are for Improvement:

I have a hard time delegating tasks and my reluctance to do so has prevented me from meeting my OKRs previously due to time management issues To get around this, I would like to set up an hour-long meeting with each of my direct reports over the next month to ensure that they are properly trained in the use of the X software system, meetings top meeting, new client referrals, etc ., so that I can feel more confident when assigning these tasks

4.3 TEAMWORK AND COLLABORATION

Strengths:

I excel at making team members feel comfortable and included by openly, honestly, and vulnerable sharing personal needs/perceived weaknesses/past mistakes,etc In doing so,

I help foster a sense of security and a sense of belonging within the team

Collaborative work is one of my best jobs because I get energized by my colleagues' ideas and I work well with others I produce better results when I work cross-functionally because of how different departments support and facilitate each other helps

me improve my products and services for my clients

Area for Improvement:

I have difficulty sharing responsibilities with my team members, especially if they are new I struggle with assignments and have found myself in too much of a charge because

of this Going forward, I would like to play a more active role in the onboarding process

of new employees, especially during the training on our customer relationship management software, so I can guarantee that they understand the nuances of the system

4.4 CREATIVITY AND INNOVATION

Strengths:

I have a high level of self-awareness of my creative strengths, which allows me to take calculated creative risks and propose new ideas

I encourage team members to share their most innovative and creative ideas by promoting the "nothing bad idea" attitude in brainstorming sessions

Area for Improvement:

I tend to re-study the design elements that I'm most comfortable with and familiar with, especially when working with a demanding client To improve on this, I like to review

my work with colleagues before sharing it with a client to make sure I'm challenging myself creatively

4.5 PROBLEM SOLVING AND CRITICAL THINKING

Strengths:

I am a strong problem-solver due to my ability to discern the symptoms of the problem from the root cause I excel in solving complex or long-standing problems, as I’m able

to methodically think through or forecast potential impediments and break down obstacles into their component parts

My communication skills aid me greatly ideas in solving problems, as I'm able to easily and fluidly explain options, and solutions to my team members

Area for Improvement:

Sometimes I can get distracted when solving complex problems I struggle to separate the side issues from the root cause, especially when under pressure In the future, I'd like

to challenge myself to share the underlying problem with my co-workers or manager once I've found a solution Knowing that I will share my findings will encourage me to think about the problem more systematically

CONCLUSION

Through the analysis of the nature as well as the role of Human Resource Management,

we find that a sustainable development enterprise is an enterprise that has effective methods of managing and handling human resource problems reasonable and effective way In addition, HRM recognizes the progress of each employee and has a reasonable reward to increase each individual's work spirit and develop the team's achievement because everyone can add their own ideas and improve, enhance the quality of life in the workplace Human resource management is the brain oil of an organization, a business helps businesses grow, so human resource training is a top priority and leaders need to learn and develop their own capabilities more to be able to lead the organization

in the right direction

REFERENCES

Adam Uzialco (2021) Self-Assessment: 5 Tips for writing your performance

evaluation Business News Daily [online] Available at:

AIA (2021) Khám phá “Môi trường làm việc lý tưởng hàng đầu ngành bảo hiểm” Việt

Nam Tuổi Trẻ [online] Available at: https://tuoitre.vn/lam-viec-o-moi-truong-ly-tuong-hang-dau-nganh-bao-hiem-viet-nam-co-gi-thu-vi-20211007134512751.htm

(27/04/2022)

Nguyen Minh (2021) Tổ chức càng tinh gọn, nhân viên càng được quan sát nhiều hơn

Giới thiệu về AIA Việt Nam AIA [online] Available at: