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Page | 1 UNIVERSITY OF ECONOMICS HO CHI MINH CITY International School of Business DƯƠNG THỊ HỒNG NHUNG SOLVING THE PROBLEM OF JOB DISSATISFACTION AT GLOBAL VIETNAM ALUMINIUM CO , LTD MASTER OF BUSINE[.]
UNIVERSITY OF ECONOMICS HO CHI MINH CITY International School of Business DƯƠNG THỊ HỒNG NHUNG SOLVING THE PROBLEM OF JOB DISSATISFACTION AT GLOBAL VIETNAM ALUMINIUM CO., LTD MASTER OF BUSINESS ADMINISTRATION Ho Chi Minh City – Year 2020 LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com Page | UNIVERSITY OF ECONOMICS HO CHI MINH CITY International School of Business DƯƠNG THỊ HỒNG NHUNG SOLVING THE PROBLEM OF JOB DISSATISFACTION AT GLOBAL VIETNAM ALUMINIUM CO., LTD MASTER OF BUSINESS ADMINISTRATION SUPERVISOR: DR NGUYEN PHONG NGUYEN Ho Chi Minh City – Year 2020 Page | LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com List of Contents Executive summary 1 Company background 1.1 Overview of Global Vietnam Aluminum Co., Ltd 1.2 The development of Global Vietnam Aluminum Co., Ltd 1.3 The main product of Global Vietnam Aluminum Co., Ltd 1.4 Organizational structure of Global Vietnam Aluminum Co., Ltd 1.5 The strategy of Global Vietnam Aluminum Co., Ltd Symptoms 2.1 The high turnover rate 2.2 Turnover rate of engineer 2.3 Turnover rate by reasons 10 2.4 Initial cause-effect map 12 2.5 Updated Cause-effect map 18 Problem justification 19 3.1 Problem definition 19 3.2 Problem existence 19 3.3 Problem importance 21 Causes validation and solutions 22 4.1 Potential causes 22 4.1.1 Lack of career development 23 4.1.2 Lack of leadership 24 4.1.3 Unprofessional working environment 24 4.2 Causes existence 25 4.3 Alternative Solutions 28 4.4 Solution justifications 33 Page | LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com Action plan 33 Conclusion 38 Supporting information 39 7.1 Methodology 39 7.2 Research tool 39 7.3 Interviewees demographic 40 7.4 Interview Transcription 40 References 59 Page | LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com LIST OF TABLES Table 1: Total employee Turnover Rate in Global Vietnam Aluminium Company Table 2: Employee Turnover Rate of the engineers in Global Vietnam Aluminium Company Table 3: Resignation reasons for the engineer in GVA (2019) 11 Table 4: Training estimated costs 30 Table 5: Motivating estimated costs 32 Table 6: Planning schedule 35 LIST OF FIGURES Figure 1: Company structure Figure 2: Human Resources structure Figure 3: Employee Turnover Rate in Global Vietnam Aluminium Company Figure 4: Engineer turnover rate at Global Vietnam Aluminium Company 10 Figure 5: Engineer resignation reasons in GVA 11 Figure 6: Initial cause-effect map 12 Figure 7: Updated cause-effect map 18 Figure 8: Final cause-effect map 23 LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com Page | Executive summary Nowadays, facing with high turnover rate and low recruitment are more concentrated by many corporations over the world, especially in a highly competitive market Key positions such as expertise, managers, and directors will bring too many benefits and values to the company Employees are major assets of any organization and the effective competitive advantage of many enterprises The importance of employees to an organization has been acknowledged for a long time because they have a role in creating, maintaining a competitive advantage and help the organization more development Lots of companies in Vietnam not pay more attention to human resources, and it is also often left to deal with employee turnover and the difficulties it brings In the market, the competition within the job market is getting fiercer and increased the number of employee turnover rates have become a concern for enterprises as well as the government Employees can leave a company for lots of reasons, when employees willingly leave a company, usually because they have other choices and they willingly go to work in another company This research study was conducted to explore the issue of employee turnover rate and retention talent employees in the manufacturing company, using Global Vietnam Aluminum Co Ltd as the context This research was conducted to assess the impact of employee turnover on organizational performance in a manufacturing company, investigate the causes of staff turnover and finally recommend solutions that can be used to reduce the number of employee turnover in Global Vietnam Aluminium Co Ltd LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com Page | 1 Company background Nowadays, the global economy is developing day by day Vietnam's aluminum industry has continuously developed Policies to encourage foreign countries' investment in Vietnam as well as to encourage Vietnamese enterprises to export to foreign countries have made Vietnam's economy develop in a positive way At this time, in the aluminum market as well as aluminum products in the world is increasingly active while Vietnam is one of the countries attracting high foreign investment from big countries like the USA, Australia, China, Canada In a fast-moving environment, everything needs to change and enhance itself to integrate and develop There is always a chance for us to take part in this challenging business world if we are well-organized and dedicated to devoting to society Grasp that situation, the biggest factory in Vietnam and one of the biggest in Southeast Asia is Global Vietnam Aluminum Co., Ltd (GVA) is 100% Australian capital investment invested in 2011 The factory is located in My Xuan B1 Conac, industry zone, Ba Ria – Vung Tau province, which has a strategic advantage of transportation logistics and economic efficiency One of the emerging newcomers to confront this challenge and undertake this responsibility An advanced infrastructure at GVA provides customers with reliable and sustainable production and distribution New factory with all of the latest technology in the aluminum industry that can satisfy every requirement of customers With modern equipment and machinery, the company is gradually asserting its position in the aluminum industry, especially aluminum billet Along with understanding the aluminum market and business environment of Asia in particular and of the world in general, Global Vietnam Aluminium brings suitable solutions to the business characteristics and environment of each enterprise Global Vietnam Aluminium team comprises experienced professionals and dedicated workers with all modern production techniques that enable the company to provide the best quality products in less time The company prioritizes the employment of domestic labor, ensuring the rights and interests of workers, strictly complying with the regimes prescribed by the Labor Law, respecting the right to organize trade unions under the Trade Union Law Create jobs for officials and employees, improve the average income is Page | LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com increasing Additionally, Global Vietnam Aluminum Co., Ltd often gives training sessions to all workers for the enhancement of productivity 1.1 Overview of Global Vietnam Aluminum Co., Ltd - Full name : Global Vietnam Aluminum Co Ltd - Trading name : GVA - Address : My Xuan B1 Conac Industrial Zone, My Xuan, Ba Ria – Vung Tau province - General Director : Jacky Cheung - Start date : 08/8/2011 - Charter capital : 5.000 billion USD - Company size : 63 hectares - Total staff : 963 1.2 The development of Global Vietnam Aluminum Co., Ltd Global Vietnam Aluminum Co., Ltd was founded by two major shareholders, namely Jacky Cheung and Wang Tong, with five thousand billion dollars in capital investment and was established in 2011 In the beginning, company size was 40 hectares with around four hundred employees and expanded to 63 hectares three years later, with numerous hard working employees reaching up to approximately one thousand Since its establishment, Global Vietnam Aluminum continues to develop and remain as an outstanding organization in the manufacturing of aluminum extrusions in Southeast Asia within the last few years Producing and supplying high-quality aluminum billets with currently the production capacity has crossed a record of up to 200,000 metric tons annually and export to countries around the world, for example, Philippines, Malaysia, Indonesia, Thailand, Canada, USA, Hong Kong, China, etc to name just a few to serve and support customers' needs through the best services and products At the very first beginning of our operation, Global Vietnam Aluminium only focuses on manufacturing and selling aluminum billet 6xxx series, among them, the core product is the primary aluminum billet 6063 which receives a great deal of recognition among customers across the domestic and international market Realizing that billet is just a Page | LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com semi-final product and does not bring us the opportunity to make this world a more beautiful and better place, at the end of 2014, Global Vietnam Aluminium decided to adjust our business strategy and headed to become the top aluminum extruders within the region With the extruded capacity of up to 80,000 MT per year sponsored by the 03 most advanced couple presses in the plant, Global Vietnam Aluminium entirely confident to supply the best aluminum profiles to serve the needs and demands of the market 1.3 The main product of Global Vietnam Aluminum Co., Ltd GVA uses primary aluminum ingots as raw materials with five main products selected from different countries to ensure the best quality as below: - 05 couples of smelting/furnaces (500 – 600 MT/day) - 05 homogenization furnaces - 03 couples of aluminum extrusion presses (2000; 2750; 3600 MT) - Anodized facilities - Powder coating facilities 1.4 The organizational structure of Global Vietnam Aluminum Co., Ltd GVA has a main factory in Tan Thanh town, Ba Ria - Vung Tau province, and has around 1.000 employees from around the country come to work and 23 ex-pats who are working in departments: Human Resource, Quality Control, IT, Extrusion, Mold, Warehouse, and Painting The Board of Director who is responsible for all activities in the company and drive GVA going on the right track and strategy Each department played an essential role in supporting the company to expand and develop business in Vietnam Page | LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com Figure 1: Company structure The organizational chart shows the internal structure of the Global Vietnam Aluminium organization Board of directors in the highest-ranking position atop the chart and followed by the following in descending vertical order: - Chairman of the board of directors - General director - Head of departments Figure 2: Human Resources structure Page | LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com ... Overview of Global Vietnam Aluminum Co. , Ltd 1.2 The development of Global Vietnam Aluminum Co. , Ltd 1.3 The main product of Global Vietnam Aluminum Co. , Ltd 1.4 Organizational...UNIVERSITY OF ECONOMICS HO CHI MINH CITY International School of Business DƯƠNG THỊ HỒNG NHUNG SOLVING THE PROBLEM OF JOB DISSATISFACTION AT GLOBAL VIETNAM ALUMINIUM CO. , LTD MASTER OF. .. structure of Global Vietnam Aluminum Co. , Ltd 1.5 The strategy of Global Vietnam Aluminum Co. , Ltd Symptoms 2.1 The high turnover rate 2.2 Turnover rate of engineer