(LUẬN văn THẠC sĩ) improving teller’s motivation at joint stock commercial bank for investment and development of viet nam (BIDV) SGD1 branch

ĐẠI HỌC QUỐC GIA HÀ NỘI KHOA QUẢN TRỊ VÀ KINH DOANH - NGUYỄN THU TRANG IMPROVING TELLER’S MOTIVATION AT JOINT STOCK COMMERCIAL BANK FOR INVESTMENT AND DEVELOPMENT OF VIETNAM (BIDV) – SGD1 BRANCH NÂNG CAO ĐỘNG LỰC LÀM VIỆC CHO GIAO DỊCH VIÊN TẠI NGÂN HÀNG TMCP ĐẦU TƯ VÀ PHÁT TRIỂN VIỆT NAM – CHI NHÁNH SGD1 LUẬN VĂN THẠC SĨ QUẢN TRỊ KINH DOANH HÀ NỘI - 2020 TIEU LUAN MOI download : skknchat@gmail.com ĐẠI HỌC QUỐC GIA HÀ NỘI KHOA QUẢN TRỊ VÀ KINH DOANH - NGUYỄN THU TRANG IMPROVING TELLER’S MOTIVATION AT JOINT STOCK COMMERCIAL BANK FOR INVESTMENT AND DEVELOPMENT OF VIETNAM (BIDV) – SGD1 BRANCH NÂNG CAO ĐỘNG LỰC LÀM VIỆC CHO GIAO DỊCH VIÊN TẠI NGÂN HÀNG TMCP ĐẦU TƯ VÀ PHÁT TRIỂN VIỆT NAM – CHI NHÁNH SGD1 Chuyên ngành: Quản trị kinh doanh Mã số: 60 34 01 02 LUẬN VĂN THẠC SĨ QUẢN TRỊ KINH DOANH NGƯỜI HƯỚNG DẪN KHOA HỌC: TS TRẦN KIM HÀO HÀ NỘI - 2020 TIEU LUAN MOI download : skknchat@gmail.com DECLARATION The author confirms that the research outcome in the thesis is the result of author’s independent work during study and research period and it is not yet published in other’s research and article The other’s research result and documentation (extraction, table, figure, formula, and other document) used in the thesis are cited properly and the permission (if required) is given The author is responsible in front of the Thesis Assessment Committee, Hanoi School of Business and Management, and the laws for above-mentioned declaration Date………………………… TIEU LUAN MOI download : skknchat@gmail.com ACKNOWLEDGEMENT I would like to send my sincere thanks for the help and support of parents, lecturers, family, friends, and colleagues, all of whom helped me complete this study Particularly, I would love to send my gratitude toward the following significant advisors and contributors: I would like to extend my warmest thank to Tran Kim Hao for his support and encouragement He spent much time on reading my research and offering invaluable detailed advices on grammar, organization, and the theme of the study Second, I would like to thank all lecturers from HSB-MBA for advising much valuable intellectual knowledge during the course I would like to thank my classmates for their provision of valuable advices I also would like to thank my colleagues, tellers and managers at BIDV – Transaction Center 1, managers for their help and support to complete this thesis TIEU LUAN MOI download : skknchat@gmail.com CONTENT INTRODUCTION 1 Rationale Literature review Aims of research Objects of research Scope of research Research methodology CHAPTER 1: THEORETICAL BACKGROUND ON EMPLOYEE MOTIVATION 1.1 Overview of employee motivation 1.1.1 Definition of employee motivation 1.1.2 Nature of employee motivation 1.1.3 Factors impacting employee motivation 1.2 Theories on employee motivation 14 1.2.1 Herzbergs’s theory 14 1.2.2 Maslow's theory 16 1.3 Employee motivation in banking sector 18 1.4 Employee motivation experience in some banks 22 1.4.1 Employee motivation experience of Technology and Commercial Joint Stock Bank 22 1.4.2 LienViet Post Joint Stock Commercial Bank (LienVietPostBank) 23 1.4.3 Lessons drawn in terms of employee motivation in BIDV – Transaction Center 24 CHAPTER 2: ASSESSING THE SITUATION OF TELLER’S MOTIVATION AT BIDV – TRANSACTION CENTER 26 2.1 Introduction of BIDV - Transaction Center 26 TIEU LUAN MOI download : skknchat@gmail.com 2.1.1 History and development of BIDV - Transaction Center 26 2.1.2 Human resources of BIDV - Transaction Centehr 28 2.2 Job description and human policies applied for tellers at BIDV - Transaction Center 31 2.3 Analyzing current employee motivation at BIDV - Transaction Center 33 2.3.1 Demographic data of respondents 33 2.3.2 Analyzing current employee motivation at BIDV - Transaction Center 37 2.4 Summary of finding of tellers’ motivation at BIDV - Transaction Center 62 2.4.1 Overall assessment of tellers’ motivation at BIDV - Transaction Center 62 2.4.2 Achievements 63 2.4.3 Limitations and possible causes 65 CHAPTER 3: PROPOSAL ON SOLUTION FOR IMPROVING TELLER’S MOTIVATION AT BIDV – TRANSACTION CENTER 68 3.1 Development orientation of BIDV - Transaction Center 68 3.1.1 General business development 68 3.1.2 Development orientation of human resources 69 3.2 Recommendations to improve tellers’ motivation at BIDV - Transaction Center 72 3.2.1 Increasing income for staffs 72 3.2.2 Supplementing more promotion opportunities and better policies for tellers 73 3.2.3 Improving working conditions by dividing work into many shifts to reduce working time for tellers 75 3.2.4 Other recommendations 79 CONCLUSION 80 REFERENCES 81 APPENDIX 83 TIEU LUAN MOI download : skknchat@gmail.com ABBREVIATION ATM Automatic Teller Machines BSNEU National Economics University Business School Dept Department EFA Exploratory Factor Analysis HR Human resource HRD Human Resource Department Techcombank Vietnam Technological and Commercial Joint stock bank VND Vietnam Dong TIEU LUAN MOI download : skknchat@gmail.com LIST OF FIGURES Figure 1.1: Herzbergs Two-Factor Theory of Motivation 14 Figure 1.2: Maslow's Hierarchy of Needs 16 Figure 1.3: Proposed model of employee motivation for tellers at BIDV - Transaction Center 19 Figure 2.1: Organizational structure of Transaction Center 28 Figure 2.2: Gender of tellers at BIDV - Transaction Center 34 Figure 2.3: Maritualstatus of tellers at BIDV - Transaction Center 34 Figure 2.4: Age of tellers at BIDV - Transaction Center 35 Figure 2.5: Education of tellers at BIDV - Transaction Center 35 Figure 2.6: Major of tellers at BIDV - Transaction Center 36 Figure 2.7: Seniority of tellers at BIDV - Transaction Center 36 Figure 2.8: Work itself of tellers at BIDV - Transaction Center 38 Figure 2.9: Salary of tellers at BIDV - Transaction Center 43 Figure 2.10: Salary for staff at banks in Vietnam 45 Figure 2.11: Working conditions of tellers at BIDV - Transaction Center 47 Figure 2.12: Promotion of tellers at BIDV - Transaction Center 51 Figure 2.13: Training and development of tellers at BIDV - Transaction Center 54 Figure 2.14: Direct supervisionof tellers at BIDV - Transaction Center 57 Figure 2.15: Overall work motivation of tellers at - BIDV - Transaction Center 61 TIEU LUAN MOI download : skknchat@gmail.com LIST OF TABLES Table 2.1: Staff’s qualification at BIDV - Transaction Center 29 Table 2.2: Staff’s gender at BIDV - Transaction Center 29 Table 2.3: Staff’s age at BIDV - Transaction Center 29 Table 2.4: Staff’s seniority at BIDV - Transaction Center 29 Table 2.5: Work itsefl of tellers at BIDV - Transaction Center 37 Table 2.6: Salary of tellers at BIDV - Transaction Center 42 Table 2.7: Working conditions of tellers at BIDV - Transaction Center 46 Table 2.8: Promotion of tellers at BIDV - Transaction Center 50 Table 2.9: Training and development of tellers at BIDV - Transaction Center 53 Table 2.10: Direct supervision of tellers at BIDV - Transaction Center 56 Table 2.11: Overall work motivation of tellers at BIDV - Transaction Center 60 Table 2.12: Overall assessment of tellers’ motivation at BIDV - Transaction Center 63 TIEU LUAN MOI download : skknchat@gmail.com INTRODUCTION Rationale In the market economy, businesses if wishing to survive and develop, in addition to the infrastructure is fully equipped with modern and advanced ones, need to maximize human resources because people are the most important factor for business success Having a team of loyal and dedicated people for business is thing any leaders want to achieve However, in fact, there is now common phenomenon is that employees often move another job, they no longer work with the business After a period of inadequate sense, they will find new job This considerably influences the organizational structure as well as the company’s direction of business development There are many reasons leading to this situation, one of the important reasons is that the company has not satisfactorily fulfilled the compensation, working conditions which cannot stimulate and create motivation to work for them Finance - Banking is a key area in the economy Therefore, employees in such industry are passionate, creative, dynamic and always have to adapt to change Over the years, Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) always strives to maintain its leading position, of which the bank is considerably contributed by the staffs Banking sector is one of the particular sectors since the quality of products and services depends mainly on suppliers and staffs directly serving for customers More than 60 years of establishment and development, up to now, BIDV is one of the three biggest joint stock banks in Vietnam BIDV is not only famous for its great development in technology, successfully rapid growth, a large number of customers, it also possesses more than 24,000 officials and staffs in more than 180 branches and over 800 transaction offices Transaction center is one of the Top biggest branches of BIDV Of which, position of tellers in BIDV in particular and in banks in Vietnam in general is very necessary and important Every day, they have to contact with customers to receive requests, handle transactions and record all transactions related to cash transactions, checks, savings, transfer, foreign currency exchange, account opening arising at the counter Every teller has the role of a salesman and introduces a cross-service, while also creating an image, brand and excellent service quality of a bank; thereby helping banks raise capital and interests However, nowadays rate employee turnover in teller position in BIDV in general and in this branch in particular is quite high, approximately 22% Most of TIEU LUAN MOI download : skknchat@gmail.com 3.2 Recommendations to improve tellers’ motivation at BIDV - Transaction Center 3.2.1 Increasing income for staffs According to responses of tellers, they have to work more than hours per day, usually from before a.m until p.m However, their income they are paid is much lower than employees working other departments in the bank In addition, the salary of tellers at BIDV - Transaction Center is also lower than other banks’ They are the main reasons of increasing turnover intention of tellers in recent years Most of them supposed their income has not paid suitably with the efforts For retaining more good employees, BIDV Transaction Center should increase income for tellers It is important to improve the pay in the way that is more relevant to the employee's contribution, as this is one of the factors that employees are not satisfied most while it has a strong impact on employee satisfaction Wage is the most important factor affecting job satisfaction and is also the factor that is the worst assessment amongst the factors that influence employees’ satisfaction Therefore, the bank should take measures to further improve the level of satisfaction of employees on the issue of wages According to the general assessment of banks, the current salaries of staff are considered very low, not commensurate with their performance and not enough to meet daily life needs However, bonuses and allowances can be based on the level of bonuses and allowances in the region and banks in the region to adjust the salary levels For nature of teller who have to work more than others in the bank, the bank must build a fair payment mechanism For those with more working time and more contribution, in addition to basic salary, they are paid for overtime income and allowances BIDV Transaction Center need to develop a uniform, fair and clear system of wages to avoid the situation staffs working at the same department are paid different wages of the old and newcomers, which creates two salary systems Fairness is expressed in team justice and personal fairness with equal work contexts On the psychology, staffs always compare their performance with that of other people, so unfair pay makes them feel dissatisfied and they will not be loyal to the bank For teller position, the bank should specify allowances for staff working overtime Those work early or work in the weekends, they have to be paid extra salary as well as allowances (snacks, tea or slight meals and so on) The bank should specify the certain staffs who are allowed to work overtime to avoid disorganized working overtime It is necessary to supplement the income of senior staff with good working experience in accordance with the salary level of the position in the bank That can raise the sense of 72 TIEU LUAN MOI download : skknchat@gmail.com responsibility for the employees at work, encourage them to work effectively, positively and enthusistically in order to achieve the bank's goals while satisfying the personal needs of its employees BIDV - Transaction Center must complete salary tool as role of creating motivation effectively, not roles of maintaining and stabilizing as today However, the bank’s salary is partly prescribed by a common salary of the State and depending on each positions and education of employees, changing salary according to actual situation is very difficult For improving such problems and improving more role of salary, the bank should build more flexible salary and payment should be based on some basic criteria such as: - Salary must be closely associated with work value This is the factor to determine salary exactly as nature of salary is amount the organization can use and pay for employees in accordance with their contribution to the organization - When determining salary, it is required to associate with seniority because only employees work for the bank in the long term, they should be respected for their contribution and dedication Simultaneously, when the bank gives more opportunities for employees to richen their experience and work for the bank longer, the bank shall reduce its new recruitment and training costs - Salary needs to be adjusted appropriately in accordance with changes of market price to ensure employees’ real income can be enough to cover their everyday needs In fact, the real income is not suitable with nominal income; meanwhile the State regularly changes the basic salary as nominal salary with the hope of raising the real salary but with the current price fluctuation, it is very difficult to compensate - The bank should step by step build up salary system with the participant and opinion contribution of employees with an aim of understanding their expectations and meeting such expectations Public implementation of salary in detail shall help employees understand and limit envy amongst employees - The bank should refer to the salary policy of other banks, such as Vietcombank or Vietinbank, which meets the staffs’ needs Therefore, the employees not feel depreciated as well as have considerable encouragement to devote to the bank - The bank should carry out a period survey on staffs’ satisfaction with the salary policy of the bank 3.2.2 Supplementing more promotion opportunities and better policies for tellers For teller position, they seem not to have promotion opportunities for the higher position, which is unfair to them During working at the bank, they are only in charge of 73 TIEU LUAN MOI download : skknchat@gmail.com teller position, which sometimes makes them feel bored and demotivated Day by day, they have to work the same jobs and all their efforts as well as contributions are not recognized appropriately BIDV - Transaction Center should build a common policy of promotion and development All positions must be given the appropriate promotion, if they can’t be promoted to head of department, they must be promoted to leaders or appointed to the managerial position of relevant department For those with more dedications and contributions, they are deserved to taking on the important positions at the bank The bank must also develop annual staff training plans for those with qualified and ethical qualification or good quality or those desire to improve their education with a commitment to return to work after being trained Managers with good management and good skills should be encouraged to attend management classes to create next staff for the organization For employees wishing to improve their professional knowledge, the bank should also facilitate the work of staff members who are conducive to study; they may be on unpaid leave without losing their jobs, or be more suitable job placement In addition, the bank’s employee benefits policies need to be fair and transparent The welfare policies of the bank are not really practical with staff and don’t attract the attention of staff The fact that staff are more satisfied with welfare policies and activities will be increasingly satisfied with the work Therefore, the bank management should improve staff satisfaction with welfare through activities such as: - Paying attention to staff’s lives: the bank can offer financial assistance programs with a higher level of lending and lending rates that are affordable to employees in order to facilitate them to increase their investments or care for their children's education - In order for the staffs to feel secure in the long term, after recruitment, the bank sign labor contracts in accordance with the regulations of the State and well implement policies on labor, social insurance, health insurance and unemployment insurance, rights and legitimate interests of employees - For employees over the age of 40 years, to motivate them to work harder, it is possible to organize their own survey to find out their aspirations and then to have appropriate policies It is possible to diversify the forms of welfare such as life insurance, individual policies for long-term employees with enterprises (eg material reward, tourism for 10 or 20 year association with the bank), which shall make the older employees feel more interested 74 TIEU LUAN MOI download : skknchat@gmail.com - The bank should focus on motivating employees who are 5-10 years, as they are more experienced and in the dynamic age with more turnover intention It is required to consider salary, acknowledge their achievements and praise them timely, such as the implementation of bonus policies for excellent staff when they reach their goals - The bank should enhance the role of bank unions with staff through regular cultural and sporting activities to better communicate the welfare policy and to create more confidence and satisfaction for them towards welfare policy of the bank - Finalizing the performance appraisal system applied by the bank to create fairness and equality for the employees so that they will feel satisfied with the work because they are highly appreciated and recognized what they try to devote Currently the branch is applying staff appraisal at the end of the year in categories A (A1, A2, A3), B (B1, B2, B3) and C However, the survey shows that the assessment sometimes depends too much on emotions, not concentrates only on the last months or last quarters of the year but ignores the dedication of staff in the previous time, which results in uneven productivity amongst the months/ quarters of the year and the bank focus only on the last months/ quarters of the year to be recorded achievements Therefore, the Board of Directors clearly defines the assessment objectives to: pay salaries, bonuses, promotions, transfers thereby perfecting the evaluation criteria in line with each management objective and creating fair for staff 3.2.3 Improving working conditions by dividing work into many shifts to reduce working time for tellers One of the problems tellers complain is unsuitable working time According to research result, for teller position, they are not created the proper working conditions, in particular working time No employee can work continuously from a.m to p.m and their income is lower than other working within working hours Besides, most of the married females are in charge of the teller position It is easy to understand because of nature of work, but the bank should consider and assign jobs more appropriately For teller position, the bank can apply on-shift staff and their wages should be paid depending on their real working time Furthermore, the Head of the bank needs to make greater efforts to achieve the bank's development goals, and give employees greater confidence in future growth prospects so employees are proud to work in the bank, all positions Despite lower salary 75 TIEU LUAN MOI download : skknchat@gmail.com or part-time job, BIDV - Transaction Center 1’s staffs are always proud of their work and their bank This will create a positive contribution of employees to the development of the bank and create their loyalty, create momentum for the development of each individual and retain good employees This is one of the most important conditions to ensure the longterm and sustainable development of the bank The working environment is the foundation for retaining employees Creating a work environment for employees to have a cohesive and effective working time, the first point is the motivation of each employee to work in three basic areas:  What are the three most important factors for you to work for the Bank in the long-term?  What time you work most effectively?  What factors help you overcome difficulties in the work? Determining what motivation of employees is based on the following contents:  Reputation: Feel proud of the position of the work  Working time: Flexible working hours  Safety: The work is stable and safe  Colleague relationship: Good relationships with colleagues, everyone inspires  Diversity: Diversified and challenging at work  Future: There are many opportunities for promotion and development  Interesting job: Interesting job stimulates staff to work  Location: Workplace is near their house  Finance: Salary and welfare are good  Jobs: People are united in the work  Working conditions: Working environment is comfortable and friendly  Recognition: Leadership and colleagues recognize their contribution and dedication Understanding working motivation:  Learning and let employees know their roles with the organization  Spending time with new staff during job orientation meetings  Encouraging new staff to express their personal views Asking actively questions to find out their aspirations and what is important to them Improving staff satisfaction will maintain the stability of human resources, reduce operating costs and increase business productivity Improving employee satisfaction is not 76 TIEU LUAN MOI download : skknchat@gmail.com just a pay rise There are many simple and inexpensive measures that help banks to improve their satisfaction and increase their commitment The bank should empower staff to improve their working environment, particularly as follows:  Encouraging staff to decorate the work area by preference Working in a place makes them feel more comfortable than working in a monotonous office This not only creates more intimacy among individuals in the bank but also assists health care workers themselves Some people with back pain, eyestrain or improper furniture will feel more comfortable using the tables and chairs that fit their needs  Organizing small internal contests on monitoring and understanding of collateral policy (at the center and departments/ units) to create a lively atmosphere and motivate employees to own their own successes Contests motivate employees to set goals and work with passion rather than responsibility Meeting and deploying performance:  "Deadline for reporting results" is the main cause of stress in many employees The branch should make reasonable time for work, reduce meetings and spend time with staff A minor change in the meeting way is standing meeting, which helps the meetings end more quickly and efficiently  Online video meetings also save time However, to avoid rampant, the bank should be held near the end of lunch time or late work hours, which will accelerate the pace of work settlement  No employee likes to work on the break  The branch needs to arrange work, responsibilities of departments and individuals in the branch clearlyin order not to mess up at peak Arranging the branch’s activities in the appropriate way will save time, reduce stress and increase labor productivity Encouraging collective activities:  Integration with the collective is an important element of happiness and joy Even the most introverted people also enjoy sharing and caring The branch should allow employees the opportunity to get closer by arranging a reasonable office space, encouraging people to eat lunch or celebrating a staff birthday  Encouraging staff participates in volunteer activities or plays sports at the weekend Voluntary activities not only bring joy to the community but also bring 77 TIEU LUAN MOI download : skknchat@gmail.com joy to everyone in the branch, while building prestige and reputation for the brand Caring about employee health:  Poor health not only affects the employees but also the bank Stress-related illnesses affect productivity and increase medical costs  Encouraging employees to care more about their own health Some updated health articles on weekly newsletters will help employees better understand the importance of health Encouraging employees to play sports with internal competitions or free sports card Enabling employees to learn and grow:  Work does not just bring in income Work is also an opportunity for staff to learn and grow That most employees care about is not the reward, but the opportunity to grow and be recognized by the superiors Managers should organize courses to improve professionals and skills of their employees, and encourage them to learn new skills Do not learn anything new or keep up a task that makes staff easily depressed and lose motivation to work Creating unexpected fun:  Each of the smallest attention-seeking actions also touches those around Managers just bring small surprises such as a few cups of coffee or a little cake at the break just enough to make the staff happy and feel cherished On holidays or special occasions, managers should be staffed with small parties at the company, both inexpensive as well as an opportunity for people to come closer together  If the bank organizes contests, it should be "hot bonus" for employees, not simply converted into emulation points or rankings in the achievement table A specific reward, such as a coupon or a short trip, will make people more excited  Many managers still think that improving employee satisfaction is not necessary but if these people accidentally read what their employees write on social networks, they certainly have to think again In the position of a manager, try to be a boss liked by the staff A fun and friendly working environment will start the success of their business 78 TIEU LUAN MOI download : skknchat@gmail.com 3.2.4 Other recommendations To improve motivation more for teller position, the bank should organize more training courses with an aim of supporting tools and support solutions for account according to performance and reducing working time In addition to implement welfare regimes, but only reward for staffs at Tet holiday, the bank should bring into play effects of welfare regimes to be applied Therefore, the bank should supplement more welfare regimes such as reward for staffs at 30/4 – 1/5 or 2/9, , the special occasions of Vietnam in order to encourage staffs to work more enthusisatically For reward, they must be public to all staffs and reward amount shall depend on seniority and real contribution of the staffs in order to ensure equality for all staffs 79 TIEU LUAN MOI download : skknchat@gmail.com CONCLUSION Labor force plays an increasingly important role, which determines the success or failure of an organization Human capacity is infinite, so every business and every organization needs to pay attention to promoting the human factor One of the most important measures to promote the full potential of workers and to increase their dedication to the organization is employee motivation Employee motivation is a necessity because it directly affects the existence and development of each enterprise Employee motivation is the desire to affirm the capacity and willingness of oneself in order to promote every effort to achieve the individual goals and objectives of the business To motivate employees, businesses need to systematically apply policies, measures, and management practices to motivate them to work, to motivate them to be more satisfied with their work and look forward to contributing to the business The thesis has finalized the contribution both in terms of science and practical application The thesis has systematically studied the theoretical issues of employee motivation The thesishas analyzed and assessed the current employee motivation for tellers at BIDV - Transaction Center 1, clarified the strengths and weaknesses, the causes of those constraints, and recommended some solutions for employee motivation at the Transaction Center 1in specific and at BIDV - Transaction Center in general The research results of this thesis hope to be a useful reference for the managers of the bank to develop the motivation policies However, during studing, the author recongnized that the study has certain limitation as the research has not studied and survey all tellers at the Transaction Center 1, only two-third of total tellers working at the branch, which made many staffs not give their own opinion Therefore, for the research in the future, the author shall remedy this limitation by conducting to research and survey all staffs, chasing them for the valid responses with an aim of collecting and achieving more reasonable results 80 TIEU LUAN MOI download : skknchat@gmail.com REFERENCES Andrew Oswald 2001 Are you happy at work The University of Warwick Bagraim, J., Cunningham, P., Potgieter, T & Viedge, C (2007) Organisational Behaviour: A contemporary South African Perspective Van Schaik, Pretoria BIDV, Annual report 2016 – 2018, Hanoi Boeve (2007) Factor creating motivation for teachers in faculty of assistant doctors in medical schools in the US, BMC Med Educ, 17:178 Cathy H.C Hsu and Huang SongShan (2008) Travel motivation: a critical review of the concept's development USA Cabi Nguyen Van Diem & Nguyen Ngoc Quan (2003) Human Resource Administration Statistics Publisher, Hanoi Drummond, K E (1990) Human Resource Management for the Hospitality Industry Van Nostrand Reinhold, New York Ebrahimi, B., & Wachtel, J.M (1995) How deficiency in management contributes to the United States' competiveness problem and what can be done about it?, Human Resource Management, pp 363 Bui Thi Minh Hong 2015 Improving employee motivation in Vietnam Technological and Commercial Joint Stock bank – Thang Long Branch Ho Chi Minh University Herzberg, F (1969) Work and the nature of man World Publishing Company, Cleveland Nguyen Si Hung 2016 Creating employee motivation in Joint Stock Commercial Bank for Foreign Trade of Vietnam – Vietcombank Kon Tum Da Nang University Luthans, F (1998) Organisational Behaviour Irwin McGraw-Hill, Boston Maslow, A H (1943) A Theory of Human Motivatio”, Psychological Review, (50), pp 381 – 382 Nyameh Jerome (2013) Application of the Maslow’s hierarchy of need theory; impacts and implications on organizational culture, human resource and employee’s performance, International Journal of business and management invention, (2) Pham Mai Phuong (2014) Improving employee motivation at Vietnam Bank for Agriculture and Rural Development (Agribank), Giao Thuy District Branch Nha Trang University 81 TIEU LUAN MOI download : skknchat@gmail.com Robert P Quinn & Graham L Staines 1979 The 1977 quality of employment Survey research center Institute of social reseach, University of Michigan Ann Arbor, USA Tesco (2015) Motivational theory in practice at Tesco: A Tesco case study”, Business case study, viewed September 12th 2017, < http://businesscasestudies.co.uk/tesco/motivational-theory-in-practice-at-tesco/maslowand-herzberg.html> Ho Ba Tham (2004) Motivation and Creating motivation for society development National Politics Publisher, Hanoi Nguyen Duc Toan (2011) Solutions for improving working motivation for employees at Military Commercial Joint Stock Bank (MBBank) Da Nang University Nguyen Khac Toan 2010 Factors influencing the employee motivation in Asian Commercial Bank, Hue Branch, Journal of Science, Hue University, 60 Quang Truong, Beatrice JIM & Chris Rowley (2010) Globalization, competition and human government in transition economy: The Case of Vietnam Kim Dong Publishing House Bui Anh Tuan (2003) Textbook of Organizational Behavior Statistics Publisher, Hanoi 82 TIEU LUAN MOI download : skknchat@gmail.com APPENDIX ANNEX 1: QUESTIONNAIRE OF EMPLOYEE MOTIVATION Understanding the factors affecting work motivation of employee to bring out measures on raising the level of work motivation of each individual is becoming the core of success of each organization To learn more about this issue, as a student of EMBA program – HBS-MBA, I am conducting a survey to complete a thesis in regards of employee motivation at BIDV - Transaction Center Please fill out the following survey, no answer is right or wrong Each answer contains the same value, personal information as well as opinions will be kept completely confidential and will not appear in any document without your consent SECTION A: DEMOGRAPHIC INFPRMATION Indicate your choice by marking the appropriate block with an (X) Sex Male Female Marital status Single Married Age 22-25 26-35 Qualification Under – > 35 Graduate Post graduate Major Economics Working < year – graduate Finance Accounting 1-3 years 3-5 years Others > years experience SECTION B: MAIN QUESTIONS I Detailed analysis Please indicate your opinion for the related factors through the following statements Instruction for answer: please complete the questionnaire by indicating with an (X) to what extent each of the following statements is true according to your personal opinion Each statement is measured by the scale from to 5, whose meaning is as follows: Strongly disagree Disagree Normal Agree Strongly agree 83 TIEU LUAN MOI download : skknchat@gmail.com Statement Level Work itself My current work makes me proud and respected by the society My current work requires me to use a large amount of professional expertise My current work affects other individuals’ works in the organization My current work is challenging and interesting My current work requires me to be always innovative My current work fills me with the feeling of completion and success My current work makes positive contribution to the general sales objectives of the organization Income (Salary, allowance and bonus) My income is suitable for my efforts My income can ensure my current living standards My salary is paid fully and timely The allowance of the Bank is suitable and encouraging for the working environment The Bank always has the regime for bonus giving at Tet, holidays, etc The Bank’s policy on salary and bonus is equal and reasonable My income is very much competitive in comparison with other banks Working conditions The Bank has modern and safe working environment The Bank has clear and friendly cultural framework and principle The Bank’s public reputation is good 84 TIEU LUAN MOI download : skknchat@gmail.com The Bank has suitable regime for the staffs’ working and relaxing time The Bank equips me with full and suitable facilities at work Promotion I believe that my work brings me a lot of promotion and development opportunities for my future career I am able to be recognized and given promotion based on my capacity, seniority and achievements at work The Bank always promotes the right person for the right duty and the right position The Bank has clear promotion and development policy I am equally treated in promotion opportunities as compared to other colleagues at the same working seniority and training qualification Training and development I am supported with favorable conditions to improve my qualification to be able to meet current work requirements I am funded to attend necessary training courses for my work I am oriented to attend the external programs to improve my knowledge that facilitating my work The training activities are helpful for my work I am able to apply the knowledge and expertise gained from the training course to my work Direct supervision I am encouraged by my superiors The managers always listen to and respect my ideas The managers always recognize my achievements I am instructed and directed enthusiastically by my superiors during working I feel satisfied with my superiors’ leadership and 85 TIEU LUAN MOI download : skknchat@gmail.com management style My direct superiors are excellent Overall work motivation of employees I always take much self-efforts when working I feel awful when I fail in working I feel unhappy when everything goes wrong, not as expected in working I like reviewing daily works to enjoy my achievements I always think about how to my work in the most effective way II Additional questions Do you have any comments for the Bank to improve employee motivation? 86 TIEU LUAN MOI download : skknchat@gmail.com ... KINH DOANH - NGUYỄN THU TRANG IMPROVING TELLER’S MOTIVATION AT JOINT STOCK COMMERCIAL BANK FOR INVESTMENT AND DEVELOPMENT OF VIETNAM (BIDV) – SGD1 BRANCH NÂNG CAO ĐỘNG LỰC LÀM VIỆC CHO... stage of comprehensive renovation of organization and operation after conversion into Joint Stock Commercial Bank for Investment and Development of Vietnam Accordingly, on May 1, 2012, the Board of. .. skknchat@gmail.com 1.4 Employee motivation experience in some banks 1.4.1 Employee motivation experience of Technology and Commercial Joint Stock Bank Technology and Commercial Joint Stock Bank