In-depth solutions for businesses in the field of Finance & Banking

BANKING & FINANCE

Industry specifics

Finance and Banking provides services of currency transactions and movement through the Bank's financial instruments within the domestic and international scope. In fact, this is a very broad industry, combining many small and specialized fields such as banking, corporate finance, tax finance, insurance finance, financial analysis, financial economics,...
Therefore, human resources in the Banking and Finance industry have high requirements for professional qualifications and the ability to undertake complex operations. Therefore, the requirements for the problem of human resource management for management are really difficult.

05 typical human resource problems of Banking and Finance

1. How to recruit quality personnel?

As a hot industry in the market, it is not difficult to understand that many young people want a career in the Banking and Finance industry. Every year, thousands of candidates with and without experience apply to banks and financial companies. Recruiters will often have to repeat some tasks such as:

Enter all candidate records into the system (2000-6000 records/year).
Filter candidate profiles according to recruitment conditions.
Send online tests, invitations to interviews for recruitment rounds, thank you letters, acceptance letters, salary Offer letters, etc. for each candidate.
Synthesize recruitment results and recruitment costs through channels, thereby comprehensively assessing the quality of each recruitment wave.

2. Training new personnel and improving existing human capacity continuously

Knowledge of Banking and Finance industry is difficult when studying and even harder when working. Knowledge of products (loan packages, capital mobilization, cards, insurance, ...), processes, professional skills, knowledge of laws supporting appraisal, valuation, retrial, and approval profile is also really challenging for any individual.

In order to ensure employees master the knowledge and give accurate advice to customers, every year banks organize hundreds of training courses and regular periodic checks. Training executive need to perform well a number of tasks such as:

Gather exactly the employees who need training for each training content.
Attendance during training.
Organize exit exam after each training course.
Summarize successful and unsuccessful students for the next training plan.
Develop a training program in accordance with the requirements and development of the unit.

3. Employees work administrative shifts, but overtime and business trips are continuous

We can easily see that bank employees work during office hours, opening at 08:00 and closing at 16:00. However, behind the door of each transaction office or each department, thousands of people are having to concentrate highly to review and inventory every detail as well as push documents to relevant departments. It is inevitable to have to work overtime to finish the job. So timekeepers will often have to summarize some typical timekeeping cases:

Summarize timekeeping, handle wrong situations: going late - leaving early, missing timekeeping, no timekeeping, registering for leave but having timekeeping, etc.
Separation of daily and overtime shifts
Separation of taxable overtime and non-taxable overtime

In addition, managers often have to go to other branches and transaction offices in the same city or other province to work. Human resources staff also need to summarize timekeeping and pay their business expenses.

4. If the Banking and Finance industry says its salary calculation is difficult number 2, no industry dares to be number 1

The salary of the Banking and Finance industry is mainly business salary and fully converges the most difficult types of salary calculation today:

Commissions by product
Commissions by product group
Business emulation bonus according to conditions
Business performance bonus
Gross salary, Net salary
Wages for foreigners
Retrieval, backdate

5. Evaluation of employee capacity and performance is always a concern of leaders

As an extremely large system with thousands of employees, if the quality of the staff is not good, it will lead to great losses for the Banking and Finance units. Therefore, in addition to regular training, units also regularly evaluate employees to develop good employees and support unsatisfactory employees.

Some of the evaluations that are often applied at the unit are:

Evaluation of probationary period, periodical evaluation, evaluation of contract renewal
360 degree evaluation, OKR evaluation, BSC-KPI evaluation

Automating HR processes for businesses

Humax is highly flexible and customizable to the complex human resource problems of Vietnamese enterprises. Humax's goal is to provide a comprehensive experience for all members of the organization.

How does Humax solution help deal with those problems?

The Humax solution will help businesses handle most of the difficult management problems faced by businesses in the Banking and Finance industry:

Recruitment

Applying AI technology to automatically input CVs into the software's CV bank, saving 80% of recruitment staff's time

From the input data, Humax can easily filter candidates that match the criteria of each vacancy in the CV bank.
Automate sending letters and tests for each candidate
Summarize recruitment results and costs of each recruitment phase, output reports and visual charts for recruiters to easily evaluate

Training

Suggestions for making a list of employees for each training session, avoiding missing employees who need training: new employees who need orientation training, employees with enough criteria to develop into management, new product training for tellers, credit specialists, annual training courses, etc.
Check attendance on the software or fingerprint, faceID confirm participation in the training session
Multiple choice exam on software after training
Summarize unqualified employees after training for further training in the next batch
Based on the competency framework for the positions, suggesting knowledge and skills to be trained for employees

Time Attendance

Integrate with timekeepers (fingerprint, FaceID, ...) to get accurate, up-to-date timekeeping data
Allow explanation, supplement timekeeping and must be approved by management
Apply for leave, overtime, business leave according to business processes
Extract taxable and non-taxable overtime from registered data according to company regulations
Lock the timesheet after each time period

Payroll

Set up flexible salary formulas and conditions, suitable for many types of salary calculation
Send payslips to staff to check and send feedback to minimize errors
Separate multiple detailed payroll for easy tracking
Payroll for staff
Lock payroll after each pay period

Performance

There is no limit to the set of criteria for each position, the evaluation period is included in the software
Employees self-assess and then send to management levels for approval and adjustment
Link evaluation results to effective salary calculation, capacity training