Ineffective training and development process at shinhan bank tan binh branch retail banking department

NGUYEN THI THUY VAN INEFFECTIVE TRAINING AND DEVELOPMENT PROCESS AT SHINHAN BANK TAN BINH BRANCH RETAIL BANKING DEPARTMENT MASTER OF BUSINESS ADMINISTRATION SUPERVISOR: DR... UNIVERSI

NGUYEN THI THUY VAN

INEFFECTIVE TRAINING AND DEVELOPMENT

PROCESS AT SHINHAN BANK

TAN BINH BRANCH RETAIL BANKING DEPARTMENT

MASTER OF BUSINESS ADMINISTRATION SUPERVISOR: DR DOAN ANH TUAN

Ho Chi Minh City – Year 2021

UNIVERSITY OF ECONOMICS HO CHI MINH CITY

International School of Business -

NGUYEN THI THUY VAN

INEFFECTIVE TRAINING AND DEVELOPMENT

PROCESS AT SHINHAN BANK

TAN BINH BRANCH RETAIL BANKING DEPARTMENT

MASTER OF BUSINESS ADMINISTRATION SUPERVISOR: DR DOAN ANH TUAN

Ho Chi Minh City – Year 2021

CONTENTS

EXECUTIVE SUMMARY 6

ACKNOWLEDGEMENTS 8

1 COMPANY INTRODUCTION 9

1.1 General information about Shinhan Bank – Tan Binh Branch 9

1.2 Shinhan Bank – Tan Binh Branch’s Retail Banking Department 10

1.3 Personnel situation in 2 years, 2019, 2020 11

2 SYMPTOMS 12

2.1 High bad debt ratio 12

2.2 Low profit 14

2.3 High time processing 16

3 PROBLEM IDENTIFICATION 17

3.1 Preliminary cause and effect tree 17

3.2 Potential problems 18

3.2.1 Poor quality of applications 18

3.2.2 Poor quality of training courses 19

3.3 Problem validation 21

3.3.1 Problem definition 21

3.2.2.1 Managers’s perspectives 22

3.2.2.2 Employees’ perspectives 23

3.4 Main problem 23

4 CAUSE IDENTIFICATION 24

4.1 Potential causes 24

4.1.1 Lack of training objectives 25

4.1.2 Inappropriate training method 26

4.2 Cause validation 27

4.2.1 Lack of training goals 27

4.2.2 Lack of professional trainer 27

4.2.3 Lack of training evaluation 28

5 ALTERNATIVE SOLUTIONS 28

6 ACTION PLAN 39

7 SUPPORTING INFORMATION 44

APPENDICES 47

REFERENCES 63

LIST OF DIAGRAM

Diagram 1: Preliminary cause and effect tree (Source: Consolidated by author) 18

Diagram 2: Lack of steps in training process 20

Diagram 3: Updated official cause and effect tree (Source: Consolidated by author) 25

Diagram 4: Benefits of effective training targets 25

Diagram 5: Inappropriate training method 26

Diagram 6: Final cause – effect map 28

Diagram 7: The Balanced Scorecard Links Performance Measures 39

LIST OF TABLE Table 1: Concepts about group debt of loans 13

Table 2: Actual processing time at Shinhan Bank – Tan Binh Branch 17

Table 3: Disbursement Loan Application Each Month 2020 17

Table 4: Summary of evaluating the elements of creating effective training courses 30

Table 5: Estimated budget for developing professional trainers 35

Diagram 7: The Balanced Scorecard Links Performance Measures 39

Table 6 : Estimated budget for developing the quality of training evaluation 39

Table 7: Action Plan 43

LIST OF FIGURE Figure 1: Shinhan Bank – Tan Binh Branch’s Organizational Structure 10

Figure 2: The NPL ratio in 2020 of SHB –Tan Binh Branch 13

Firgure 3: Comparison of NPL ratio of Tan Binh Branch and other branches in HCM North Communiy 14

Figure 4: Profit Before Tax 2021 of Shinhan Bank – Tan Binh Branch 15

Figure 5: Revenue of Shinhan Bank – Tan Binh Branch 2020 15

Figure 6: Total outstanding loan of Shinhan Tan Binh Branch 2018, 2019, 2020 16

EXECUTIVE SUMMARY

For the industry, the economic consequences of the pandemic don't seem to be

on identical scale as those throughout the Global Financial Crisis of 2008–10 (GFC), however they're still notable additionally to the money fallout, COVID-19 is reshaping the world industry on variety of dimensions, introduction a brand new competitive landscape, stifling growth in some ancient product areas, prompting a brand new wave of innovation, revising the role of branches, and after all, fast digitisation in virtually each sphere of banking and capital markets per the strategy of increasing the market, Shinhan Bank (SHB) includes a vision to form over twenty branches and agencies throughout Vietnam from 2020-2022, which means Shinhan Bank considerably desires of a prime quality coaching and big personnel to effectively act the business set up

Training is taken into account united of the foremost elementary aspects of human interaction and for organization, it's become the most tools for achieving their strategic fight additional significantly, the standard of men inside any departments plays an excellent role to the success and high profits of business banks today the largest drawback of Shinhan Bank – Tan Binh Branch’s Retail Banking Department is addressing poor coaching quality This makes the new staff within the retail banking department don't catch the task necessities right away The standard of client appraisals during this department is inefficient and causes unhealthy debts increasing Moreover, the dearth of sales skills conjointly crystal rectifier to a substantial decrease

in capital sales and credit Low ability of operating has principally crystal rectifier to high work pressure for workers and increasing the speed of quitting job at the branch

Due to distinct limitations, this thesis expects to propose effective solutions to spice up the standard of current coaching at Shinhan Bank – Tan Binh Branch’s Retail Banking Department above all and at Shinhan Bank’s system within the whole country Firstly, the coaching should set a scientific and organized set up, per the work set up of the workers Secondly, the coaching programs got to be supported sensible necessities of labor tasks Thirdly, the trainers are needed to own deep skilled information and plenty of sensible experiences Finally, when every coaching course, it's simpler if there's Associate in objective and overall analysis of the standard of

deployed coaching course Therefore, the branch above all and also the whole system normally will learn from expertise and completely improve the standard of workers coaching

ACKNOWLEDGEMENTS

I would like to express my appreciation to all people who supported me during

my studies First, I would like to send my thankfulness and special appreciation to my supervisor, Dr Doan Anh Tuan, who has kindly supported, guided, advised, and motivated me to complete this thesis Then, I would like to thank my managers, my colleagues at Shinhan Bank Vietnam who gave me chances for conducting interviews and spent their valuable times for giving me comments and opinions which helps me

to come up the results of this thesis In addition, I would like to send my regards to all

of my classmates of MBA 10 for their support, encouragement and giving me strength

in all the time writing this thesis

1 COMPANY INTRODUCTION

1.1 General information about Shinhan Bank – Tan Binh Branch

Shinhan Bank Vietnam Ltd (“Shinhan Bank”) is a subsidiary of Shinhan Bank Korea, a branch of Shinhan Financial Group (SFG) SFG is a leading limited-company financial company in Korea, established on the basis of Shinhan Bank, Shinhan Capital and Shinhan Investment Management SFG is staffed with more than 27,000 highly skilled employees around the world, offering a wide range of financial products and services, such as banking, consumer credit, insurance, wealth management, brokerage and others products SFG is also listed on both the Korea Stock Exchange (KRX) and the New York Stock Exchange (NYSE)

In order to expand the headquarter to improve customer service quality better, from 18th December 2017, Shinhan Bank Vietnam officially merged with ANZ Bank (Retail Division) and remained operating Tan Binh Branch at location: No.113- 115 Cong Hoa, Ward 12, Tan Binh District, Ho Chi Minh City The total number of current employees of the branch consists of 39 employees and has 3 departments

This branch offers all Vietnam Shinhan Bank products that are diversified and superior in competitiveness compared to other banks in the same field: savings deposits, personal loans, loans for SMEs, small families, super-large companies, card products, etc The branch not only made great contributions to the development of Shinhan Bank, but also contributed to the development of the local economy and actively supported qualified individuals and organizations in the region to establish families and conduct business

Figure 1: Shinhan Bank – Tan Binh Branch’s Organizational Structure

1.2 Shinhan Bank – Tan Binh Branch’s Retail Banking Department

Shinhan Bank - Tan Binh Branch Retail Banking Division is responsible for

initiating and managing relationships with retailers, with a focus on Ho Chi Minh City

and parts of southern Vietnam The Retail Banking portfolio is responsible for

initiating and managing relationships with individual clients, with a focus on Ho Chi

Minh City and certain segments of the industry

Retail Banking division is one of the important departments of SHINHAN

BANK - Tan Binh Branch in generating revenue and profit The department currently

has 15 employees including 1 director and 2 deputy directors, 8 people in charge of

customer development and maintenance, 4 people in charge of document processing

The main activities of the division are the mobilization of loans from individuals and

the cross-selling of other products to companies The division's total outstanding as of

December 31, 2020 are $ 21,160 million and total deposits

Specifically, Mr Tran Van Binh - Department Director and Ms Phan Thi Thuy

Duong - Deputy Director of the Department in charge of the Retail Customer

Department at Shinhan Bank - Tan Binh Branch Ms Pham Thi Anh Thu is the

Managing Director, who makes the final decisions and directs the overall

Director of Retail

Banking Department

Director of Customer Service Department

Deputy Branch Director cum Director of VIP and Retail Banking

Department Branch Director

management However, during the current difficult operating period, this part has

started to show signs of declining while in operation Therefore, this thesis will

explore and highlight the causes and effects of this problem at Shinhan Bank - Tan

Binh Branch - Retail Banking Department

Regarding the personnel situation of Shinhan Bank Vietnam - Tan Binh

Branch, Female Staff is the majority with 13% in 2019, and 19% in 2020, of which

the number of employees is from the age of 20 -30 accounts for 75% of the total staff

of the branch, accounting for 2/3 of the female employees

In terms of leadership structure, except for the position of Director, Deputy

Directors, Head of Department, Deputy Head of Department, and leaders of the group

all have female employees, accounting for 50-100% of the proportion of personnel in

positions

Education level: there are 05 people with a master's degree or more, accounting

for about 9% of the total number of personnel at the branch, the proportion of staff

with university degrees with 33 employees equivalent to 57.6%, The branch has a

college graduate who is working in the administrative office And 2 Korean

employees are working at Standard Customer Relations Department and VIP

Customer

Regarding foreign language proficiency: 39 employees with TOEIC level,

AND 4 personnel with Korean advanced level, accounting for 9% and 78% for

employees with TOEIC

The branch has 70% of the staff with a young age of 20-30, so the ability to

communicate and acumen is quite high, helping each individual's work achieve the

highest efficiency

In addition, 100% of the staff are fluent in English communication to help their

work become better when interacting with foreign customers

2 SYMPTOMS

2.1 High bad debt ratio

According to John Wiley & Son1, credit risk is the most basic and important

risk that banks can face, since lending is one of the main sources of income for

commercial banks commercial In order to evaluate and analyze the quality of loans,

the State Bank has announced Circular No 02/2013/TT-NHNN dated February 21,

2013 with corresponding amendments On the basis of circulars of the State Bank,

SHB has classified debts into the following groups: Groups 1 to 5

Table 1: Concepts about group debt of loans

From January to May 2020, the bad debt ratio of the branches reached 0.4%

higher than the requirements of the State Bank for the NLP control of foreign banks of

0.1% At the end of May 20 to 2020, however, this SHB-TAN Binh suddenly

increased from 0.02% to 0.4% and 0.3% in June 2020 This rate is usually unchanged

or only slightly 0.2% (from July Until August 2020) and only slightly varies quite

high compared to the same common situation

At the same time, the entire NPL of the SHB - TAN BINH branch was $

40,000, an increase of $ 979 million compared to December 2019 This actually

increases the determination costs of the SHB-TAN BINH branch and the reduction of

profits End of the year

Unit: %

Figure 2: The NPL ratio in 2020 of SHB –Tan Binh Branch (Sources: Internal Report Yearly 2020 – Tan Binh Branch)

All bad debts of SHB-Tan Binh branch are bad debts from the retail banking

department In January 2020, the retail banking index was 0.02% and remained stable

at this level until May 2020 As of June 2020, the index has risen significantly to

0.3%, and will continue to remain at 0.2% on December 31, 2020

Unit: %

Firgure 3: Comparison of NPL ratio of Tan Binh Branch and other branches in HCM

North Communiy (Sources: Internal Report Yearly 2020 – Tan Binh Branch)

2.2 Low profit

In the last few months of 2020, the total income after deducting SHB-Tan Binh

branch fees is more likely to fall and is lower than the average income in the region

As shown in Figure 4, pre-tax profit fell from 107,000 US dollars in 2019 to 101,000

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Tan Binh Go Vap Bac Sai Gon

Figure 4: Profit Before Tax 2021 of Shinhan Bank – Tan Binh Branch

(Sources: Internal Report Yearly 2020 – Tan Binh Branch)

Figure 5 illustrates the turnover of the Retail Banking Division, Retail Banking

Division In particular, the turnover of the Retail Banking Division peaked in

November but decreased in December 2020 Contribution ratio It is very low

compared to the contribution rate of the Retail Division of the Banking Faculty in

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Revenue 200 209.9 212.9 234.1 219 232 230.3 218.9 222.7 226.3 252.8 233.4

At the end of year 2020, the Retail Banking Department reached USD 21.745

million, accounting for 95.9% of the outstanding loan of SHB – Tan Binh Branch and

achieved 57% target plan of 2020

Unit: USD 1000

Figure 6: Total outstanding loan of Shinhan Tan Binh Branch 2018, 2019, 2020

(Sources: Internal Report Yearly 2020 – Tan Binh Branch)

In addition, the exceptional performance of the division tends to decrease:

From $ 2,396 million in May 2020 to $ 1,023 million in December 2020 Although the

Retail Banking division reached 57% of the 2020 plan with an increase net of $ 12.3

however, total credit activity fell sharply by USD 13.6 million due to the number of

individual customer departures

2.3 High time processing

Processing time is defined as taking too much or too much time In this article,

high processing times mean that it takes an employee longer to process a particular

request than it takes standard time

As shown in Table 1, we see that the processing time for a single document is

almost twice that of the headquarters standard This indicates that the employee has a

problem in the process and is evaluating the documentation and gaps between

departments

2018 2019 2020 Total Loan 9,290 14,772 21,745 -

5,000 10,000 15,000 20,000 25,000

Standard time

processing

Actual completing time Average 12 months of 202

0

Corp Loan (Operation Loan, Facility Loa

Table 2: Actual processing time at Shinhan Bank – Tan Binh Branch (Source:

Consolidate by author)

Although the processing time is high but the productivity is low and decrease

as table 2 The number of document is disbursement decrease from 45 in Jan to 32 in

3.1 Preliminary cause and effect tree

To identify the problems leading to high NPL ratio at SHB Tan Binh branch,

qualitative research methods were used and in-depth interviews with two groups The

first group consists of 3 people at all levels of management: Ms Pham Thi Anh Thu -

General Director, Mr Tran Van Binh - General Director and Ms Phan Thi Thuy

Duong - Deputy Director of SHB New Branch Department from Binh The second

group consists of employees currently working at SHB branches

Diagram 1: Preliminary cause and effect tree (Source: Consolidated by author)

3.2 Potential problems

Using the basic research method, which is the analysis of staff reports, financial

statements, of the retail customer department of SHB - Tan Binh branch as well as

in-depth interviews and key people, as well as the application of academic training

from previous studies , we will guide the authentication, analysis and find out the

main causes of the current situation of SHB department - Tan Binh branch The bank

is facing several problems:

3.2.1 Poor quality of applications

Application quality is defined as the ability of sales staff to provide standard

documents so that the team's backend can continue without requiring further

clarification or additional documents In this article, the poor quality of the application

means that the sales did not provide the processing team with a sufficient number of

documents, were unclear, or lacked the information specified in Shinhan Bank's

Poor training and

development

program

Lack of sale skills

High bad debt ratio

High time processing

Decrease profit

Overload

Negative impact to customer

Increase pressure

of sale

Lack of experience in loan appraisal

Pressure to handle bad debt

Approach wrong customer segment

Lack of knowledge of product

Low sale

Increase provision cost

Cheating on documents

n

policies and procedures Therefore, the members of the processing team must spend

time checking, listing the missing points, going back to sales, and giving clear

instructions that sales don't know how to deal with them Judging from the preliminary

causal tree, poor application quality is a potential problem, which can indirectly cause

employees to work in OT, directly prolong the process, and have a high file error rate

3.2.2 Poor quality of training courses

Banks are regarded as places to apply modern information technology to satisfy

customer service and a better business environment at the fastest and fastest speed As

Amoako claims, it hopes to persuade customers to use their needs to provide superior

banking products: speed, availability, competitive cost, etc Therefore, the employees

of commercial banks must have business skills, high professional skills, market

knowledge, problem-solving skills, negotiation skills especially the retail banking

department has higher requirements for the quality of employees Almost all leaders

of economic organizations tend to work with customer relations personnel on a regular

basis They have extensive experience in high requirements for service quality,

practice and knowledge Therefore, retail customer relations personnel must not only

be good at professional knowledge, but also must keenly assess the situation to

understand practicality, high work ability and business operations The employees of

the retail banking department must handle all necessary business affairs in the fastest

and most efficient time Consulting skills, loan and deposit interest rate negotiations

must be very convincing

However, according to Mr Binh and Ms Duong, there are some limitations to

the quality of SHB training courses After the employees participated in the training

courses, they were unable to manage customers, their sales skills were weak, and the

level of evaluation was not sufficient Almost new employees have participated in the

training courses and have yet to receive additional training at the branch However,

due to limited conditions, the branch training is not yet planned and the employees

train each other Therefore, whether to increase the efficiency of training old

employees or the pressure of the job, depends largely on the determination of each

new employee and the ability to persuade the "inside teachers" to separate the career

guidance and experience The capacity of the members of the SHB team is also an

issue Competency is defined as "the comprehensive application of knowledge, skills,

personal qualities and understanding, appropriately and effectively, not only in a

highly concentrated and familiar professional environment, but also when dealing

with new and changing environments in situations uncertain Act and see that initial

failure is the basis for learning to do better " According to the author's research, there

is a positive correlation between ability and performance Low capacity can be

followed by poor performance, due to employees being unable to complete tasks, thus

requiring more time for employees to process their tasks compared to standard time

Based on the standard processing time that a certain amount allocates, team members

can spend more time completing all tasks and will use OT This can also make the

process longer

Low capacity is a possible problem In this article, ability is defined as the

ability of employees to meet job requirements Low competence of employees means

they cannot perform or meet the job requirements Although the process is complex,

there are many sub-processes and cooperation with local authorities, the team

members have less work experience in this field, less than 2 months, less than 6

months of experience and the rest more than 1 year And they did not participate in the

proper training courses After each training session, SHB does not have a team to

collect feedback and evaluation of the plan

Diagram 2: Lack of steps in training process

3.3 Problem validation

3.3.1 Problem definition

In terms of organizational performance management, the workload of staff is

considered an important factor affecting their productivity and rotation intentions

According to Rajan, D3, heavy workload is defined as workload that exceeds the work

assignment standard, and employees have a tendency to feel stressed, as well as their

negative emotions and dissatisfaction, which causes them to stop working jobs In

order to keep employees in touch with the organization and minimize the workload

imbalance between departments, the company needs to manage or adjust the workload

of employees to reduce the demand for professional and technical skills, and how to

promote the organization of the workload according to the business, Management and

monitoring goals, as described in Dasgupta, PR4 As far as the banking industry is

concerned, as stated by Khan, Aslam and Lodhi, compensation policy is defined as

one of the most important human resource tools used by banks to pay and encourage

employees5 The author also claims that inappropriate policies can create unfair

structures and cannot help banking companies retain and obtain key talent pools for

long-term participation Sayeeduzzafar6 also emphasized that compensation policies

must be consistent with the business Strategies, market dynamics, internal

characteristics and complexity within the company to attract, retain, reward and

motivate talented employees to achieve business performance and long-term success

Vermeulen and Crous7 stated that a training program is a way of imparting and

learning specific knowledge and skills needed to achieve work efficiency According

to Wiersema and Bantel8, training and development plans have become more

important for any banking company characterized by risk and turnover In addition,

Aduda and Musyoka9 also stated that the organization's training program still faces

challenges, such as incomplete training courses, insufficient funding, lack of qualified

apprentices, and insufficient use of trainees

3.2.2 Problem existence and validation

Ahmed and Jannat believe that the adverse effects have caused some problems

of lack of job training For example, high pressure and work intensity are also the

reasons for the imbalance of employees' lives10 They cannot do much work in the

bank or take care of their family and children As Igalens and Roussel stated,

inappropriate wages and benefits gradually lead to high work pressure, cause

psychological unhappiness at work, reduce motivation to perform assigned tasks, and

significantly reduce job performance11 As a result, these problems appear for a long

time, make the company uncomfortable and cause a high turnover rate Ahmad and

Afgan admitted12 The proportion of layoffs in high pressure labor organizations has

increased, and there is another problem: commercial banks are spending a lot of

money and trying to solve them

In addition, Henley13 pointed out that the poor quality of training in companies

has also brought notable consequences, such as increased stress, poor performance in

the workplace and less collaboration between workers Mr Khair also said that14

employees have poor job skills and are more anxious about clients, jobs, and their

colleagues When they don't fully understand the needs of their customers, they put

more pressure on themselves Based on these problems, the organization must know

and be willing to propose adequate solutions to completely solve the main problem

According to the results of the interviews with the employees and managers of the

SHB-Tan Binh branch, their opinions are as follows:

3.2.2.1 Managers’s perspectives

Mr Binh must develop the quality of salutation training because workers do

not have much experience in the departments of 35.71% of departmental employees

Almost employees have a good knowledge base and a higher education level, but they

are less confident when they start real work and to solve work This requires practical

experience and a profound undertaking being a practical experience of the nature of

the work attributed Without this important thing, employees can accurately assess

ideas in their practical situations on the position of the branch and can not understand

the insight and correctly reduce the business risk to properly predict their real

commercial potential As a result, this will proceed to the growing credit status for bad

customers On the other hand, Ms Duong, a new employee, is generally recognized

that product sales performance is generally not effective and do not reduce the

performance of the product, due to lack of communication technologies, technologies

Communication and processing processing technology with customers

In addition, there is a limitation of the departmental employee's management

technology Therefore, they do not explore specific symptoms of clients such as poor

financial situations, ineffective commercial results As a result, it increases employees

that employees should be aware of their deep concentrations and should have a lot of

time to spend a lot of time sales Therefore, the level of pressure increases

considerably

3.2.2.2 Employees’ perspectives

Mr Hoang, Senior Retail Customer Relations Supervisor, and Mr Minh, Retail

Customer Sale, said that adding new employees actually increased their workload due

to the loss of tasks assigned by employees At the same time, they lack enough time to

transfer their knowledge and experience, as well as enough methodical guidance This

mainly leads to weak and alienated connections between colleagues when they have

no empathy for the high pressure of actual work tasks

Also, due to the low quality of the curriculum, new people gradually lose

confidence, whose real-world experience will differ from the knowledge base they

have been taught Therefore, the work efficiency of new employees is adversely

affecting the performance of the entire branch, which is significantly lower

Ms Tram – Loan officer also said that most new hires are shy to ask their

mentors and bosses questions when they are busy at work

That is, according to the results obtained from these detailed interviews, the

quality of talent nurturing is a major issue facing SHB-Tan Binh Branch and the retail

finance sector and thoroughly addressed

3.4 Main problem

Regarding the field of human resource management, Rahodge and de Vinsky15

said that the quality of work is an essential factor in defining a company's success

Thu said businesses want to increase sales efficiency, and employees need to have

deep knowledge of their work and products to make appropriate recommendations to

customers Also, the evaluation of retail customers is very complex because it

involves a lot of knowledge from different professions and fields Employees must

have an insightful knowledge of clients' financial assessments, planning and project

assessments Skills such as communication skills, customer management skills and

rejection response skills are also more demanded Not only does this help reduce bad

debt, it also improves sales efficiency Ms Duong also said that as the quality of the

current curriculum improves, points can significantly reduce work pressure on

employees and managers, reduce work-related disruptions and enhance collaboration

with employees I said it was done

Overall, improving the quality of education for staff and new employees with

no experience in the retail finance sector is of great importance The result is less work

stress, less bad debt, more efficient sales activities, and stronger collaboration between

employees

4 CAUSE IDENTIFICATION

4.1 Potential causes

Training is a long process According to Westover16, it begins when trainees

enroll in training until they have acquired skills, attitudes and knowledge and can

apply them to their daily lives and practices This requires companies not only to have

effective educational strategies, but also to have post-education strategies to ensure

learners have the opportunity to improve their work and practice their skills It means

that Based on proper theory and analysis of the analyzed information, the retail

finance sector's cause-effect map has been updated as follows:

Diagram 3: Updated official cause and effect tree (Source: Consolidated by author)

4.1.1 Lack of training objectives

In practice, most employees want to measure the gains they have learned from

the training courses relative to the expected goals achieved after the training courses

If the goals and standards to be achieved by students are compatible with the abilities

and levels of awareness of the students, these are the elements of the training needs

assessment It can express the importance of determining clear objectives and how

accurate assessment of training needs affects future job performance of employees (as

described by Caple 17)

Diagram 4: Benefits of effective training targets

4.1.2 Inappropriate training method

According to Pune's method19, a teaching method, generally speaking, is a

method of communication between trainees and instructors of educational content in

order to reach educational goals This method is very unique and flexible because it

connects different methods in the training program to give the best effect of the

training process or just use one method Each method has several disadvantages and

advantages The enterprise selects the optimal training method according to the actual

situation of the job, the training content, and the characteristics of the financial staff of

the business organization

Diagram 5: Inappropriate training method

4.1.3 No base on employee quality

As discussed in study20, managerial tasks of managers, which include “clear

goal setting, communication with subordinates and stakeholders, human resource

management, engagement management, and resource allocation”, are necessary for

high-performing managers to Required Teams, especially experienced managers of

resource distribution, will improve their performance Therefore, proper allocation of

resources may not be possible if managers do not have the knowledge and necessary

skills

4.2 Cause validation

4.2.1 Lack of training goals

The overall goal of human resource training and development is to make the

most of existing human resources and improve business efficiency, helping employees

better understand the job, better understand the career and to perform their functions

and tasks in a more conscious and conscious manner, motivation to do a better job, as

well as to improve their adaptability in the future It can be said that the goals of each

course are seen as the end results that learners achieve after each training course and

that management wants their employees to achieve Therefore, the objectives of each

training course should be detailed and specific

However, according to Ms Duong, the current course objectives of SHINHAN

BANK are not really clear, so the training results are not similar to the focus of

SHINHAN BANK

Mr Binh also said, “Due to inefficient evaluation and development of training

goals, many courses are organized unfairly to potential students and are not suited to

the training needs of students However, the training department assigned quotas for

the number of students for each course in each branch That leads to training that is

not substantial, not according to training objectives, not according to the actual needs

of the industries The training did not promote the role and meaning, but also made the

branch reduce the efficiency of personnel use, inefficient use of human resources "

4.2.2 Lack of professional trainer

According to Mr Binh, although an independent training academy has been

established at the Ho Chi Minh City headquarters, the quality of the academy's

training team has certain limitations Especially in the northern region, there are no

private training schools The quality of the training team depends mainly on the

teachers from the parent company and lacks practical experience in client

management and evaluation The branch invited some trainers, but due to hard work,

participation was only temporary and time was limited Therefore, it is impossible to

share the experiences In addition, these people may have practical knowledge but

poor teaching skills, reducing the efficiency of teaching

Effect

Low performance Low

customer satisfaction

4.2.3 Lack of training evaluation

John believes that effective training and post-training tests are complementary

If the training courses are organized in a mess, the content of the training will be

unrealistic and will not meet the job requirements These training courses not only

support the employees, but also provide them with health and loss of weather This is

efficient, reduces confidence and increases work pressure Post-training inspection is

also the basis for Shinhan Bank to improve training quality and open new training

courses to meet new job requirements when customer and market conditions change

However, Ms Duong said: “The current post-training inspection is not

effective at SHINHAN BANK From this point on, there is a big gap between the

initial training results and the target The quality of training and retraining courses has

not been improved according to the existence of previous courses, but is mainly based

- New employees: training mainly supports employees to master the

organizational structure, process, vision, business strategy, the work environment and

company regulations

- Existing employees: The training helps them to strengthen and update their

knowledge, making them more professional and qualified

- Modify and update technology: training helps the organization's support staff

to complement the new technology update

- Career development and advancement: The training aims to steadily assist

employees with the knowledge, qualifications, and job skills necessary for senior

positions

Some of the typical benefits of implementing effective training are as follows:

- Improve work continuity: Effective training can help employees better

understand the general and specific tasks they are performing Therefore, it helps them

feel safe and comfortable with the job they are working on The more comfortable

employees feel at work, the more they will be able to put all their skills to use Thus

strengthening cohesion with the company and greatly reducing the rate of layoffs

- Reduce supervision of managers: In fact, well-trained employees can properly

re-recognize their self-discipline and responsibilities in the profession When their

superiors have a lot of advice or supervision, most of them feel really uncomfortable

Thus, it will help managers to reduce the pressure and time of supervising and

managing employees, and greatly improve work efficiency

- Reduce accidents or errors: Accidents / errors at work are mainly due to the

lack of skills and work knowledge Therefore, the more training courses employees

attend, the more competent and professional they become, which significantly reduces

the error rate

- Professional promotion / development opportunities: during the training

process, workers will be able to obtain professional and highly qualified jobs, working

effectively so they will have more opportunities for professional development So,

they are invaluable property of the organization

- Improve job performance: A good training course will increase work

efficiency and productivity After the training courses, the highly skilled

workers will increase their productivity not only in quantity but also in

quality Therefore, a good training process will help the organization save

money, time and resources

When sharing the true advantages of training, Mr Binh also said: “If

employees are well-trained, they will bring many advantages in practice Specifically,

if they have sufficient knowledge and skills, they will Be more confident and

negotiate with customers Sales will increase Business errors will be greatly reduced,

so NPR will also be reduced In addition, management pressure from leaders will also

be reduced, and there will be plenty of time to formulate business expansion plans "

It is obvious that proposing potential solutions to repair the impact of the

current training quality of Shinhan Bank- Tan Binh Branch and Retail Banking

Department is a more urgent and indispensable issue

Based on many previous studies related to evaluating the elements of creating

effective training courses, the summary of comments is as follows:

Table 4: Summary of evaluating the elements of creating effective training courses

With the above theory and analysis, the training course system of Shinhan

Bank-Tan Binh Branch and Retail Banking Department should focus on the

implementation of potential solutions:

✓ Solution 1: Set clear training goals

Set goal training is a The process of imparting training requires clear behavior

to be observed and measured Relevant and detailed goals reveal the progress of the

organization and personnel’s work performance results, which are considered the

basis for creating a training plan The goal of training will be to represent actions

(behaviors and attitudes that students want to achieve) and situations (assuming

attitudes to occur) that can evaluate external and internal standards and the training

environment (acceptable level of performance results)

Through the process of determining training goals , We can realize that the

training activities will bring the following benefits:

+ The detailed knowledge and skills that employees hope to train and the

results obtained after the training

+ Training time

⇨ The structure and number of students in each training course

Therefore, the determination of training objectives helps companies meet the

expectations of trainees for training courses It can be seen as the basis for evaluating

the effectiveness of the course

SHINHAN BANK-Tan Binh Branch and Retail Banking Department-Mainly

to understand the basic knowledge and skills required by corporate financial

consultants, such as management skills, evaluation skills, negotiation skills and

handling rejections with customers In addition, according to the job description of the

position in the department, they must often deal with customers Supporting each

other to perform tasks is quite difficult, because employees must have sufficient

knowledge and track customer files Therefore, the standard of training time is one of

the factors that most influence the training effect and the work plan of employees

Mr Binh also said that the lack of assessment skills, customer management and

experience in the retail banking department is a big problem that needs to be solved

This has negatively impacted the quality of debt settlement at SHINHAN BANK -

Tan Binh Branch as well as the customer development mission of Retail Banking

recently This leads to what we need potential solutions to build an effective training

goal in the next time to tackle it thoroughly

Realizing the importance of setting appropriate training objectives to solve

current training problems, the first solution is given as follows:

 Firstly, build a capable team to assessment of training goals Everyone

understands how to manage specific job duties for ultimate performance in the

Retail Banking department

 Second, identify the knowledge and skills that employees need to train to meet

the demands of their position and their career development orientation at

SHINHAN BANK - Tan Binh branch

 Third, specify the number of learners and the learner structure used for each

course to ensure that the course has the right learners

 Finally, implement the training plan to develop training content, in connection

with the annual work plan for employees

An effective and scientific evaluation of training measures can provide a

number of benefits, including: achieving expected business results Thus, the

development of training content adapted and close to reality will allow students to be

more attentive to the content of the training and improve the effectiveness of the

training

Second, identifying the right training goals can help the branch ignore

inappropriate training courses This will positively affect the activity of the branch in

the long term

Third, achieving the correct training goals is also an opportunity for Shinhan

Bank Tan Binh Branch to improve the quality of the correct equipment, technology,

training and trainers to meet the training needs

When using the first solution, the list of necessary costs is as follows:

• Training costs for determining training objectives in an effective and

✓ Solution 2: Establish Professional Trainer Team

In terms of personnel management, there are two definitions that focus on the

legitimacy of teachers First, teachers themselves can be experts in on-the-job training

and learning Secondly, workplace teachers are experts who understand the “fields” of

the task management process and various job characteristics Teachers must

concentrate, communicate, develop and understand professionally useful knowledge

and improve the effectiveness of the use of knowledge learned in work processes (as

described by Falola, Osibanjo and Ojo22)

In practice, the role of teachers and their ability to transmit and understand

deep knowledge are more important to the success of the company Due to the

important role of the trainer, the organization will easily avoid the risks of daily work

and save time to propose possible solutions to improve work flow and quality of

service (according to Kaur23) Therefore, these trainers are experts who help us

improve the effective work experience of our employees and reduce occupational

risks too Especially considering the important role of trainers in business

development and the effectiveness of training, you should hire trainers with rich

experience, expert qualifications, or training certificates in specific fields in your

company Most training institutions or centers with education and training experts are

indispensable for organizations, because trainers with rich experience and good

training can help employees do their jobs according to their expectations

Most practical research recognizes that almost companies intend to use

external training centers/services to optimize training effects This is strictly limited to

the recruitment and training of professional training experts At the same time, they

continue to build and develop training infrastructure for their own businesses

Mr Binh also immediately stated that SHINHAN BANK trainers are almost

part-time teachers, although they are experts in the field of training and research, they

have not done so yet Despite their rich teaching experience, the quality of these

trainers has not yet reached the training objectives As a result, it reduces the

effectiveness of apprenticeship and has a considerable impact on overall management

activities Ultimately, the establishment of an effective team of experts with

experience in the field of unemployment and job training is one of the main priorities