Luận văn thạc sĩ UEH empirical study of job satisfaction and employee loyalty, case of commercial banks in ho chi minh city

INTRODUCTION

Background of the study

Human resources play an important role in establishment and development of organizations

Research by Fletcher and Williams (1996), Al-Aameri (2000), and Fang (2001) reveals that job satisfaction significantly enhances employee loyalty and contributions to organizations Satisfied employees play a crucial role in improving retention rates and reducing turnover, ultimately leading to lower recruitment and training costs Recognizing human resources as a vital asset, numerous global studies have focused on job satisfaction, with two foundational studies being Locke's research in 1976 and the work of Herzberg, Mausner, and Snyderman.

Job satisfaction, as defined by Locke (1976), is a positive emotional state derived from evaluating one’s job experiences He identifies nine key dimensions influencing job satisfaction: the nature of work, pay, promotion opportunities, recognition, benefits, working conditions, relationships with co-workers, and the overall company and management Locke's causal models demonstrate strong positive correlations between these dimensions and overall job satisfaction.

Another famous study of job satisfaction is Herzberg’s motivator – hygiene theory in 1959

Herzberg et al (1959) identify two key categories influencing job satisfaction: Motivators and Hygienes Motivators include factors related to the work itself, such as achievements, recognition, promotion, and responsibility, which contribute to employee satisfaction In contrast, Hygienes encompass aspects like supervision, interpersonal relations, working conditions, company policies, and salary, which are often linked to job dissatisfaction Understanding these factors is crucial for improving workplace morale and productivity.

The two-factor theory of job satisfaction parallels the theory of man’s needs based on

Maslow theory, in which the Hygiene factors operate to fulfill man’s physical needs, while

Research across various countries consistently demonstrates the factors influencing job satisfaction Lim (2008) found that for library information technology workers in the United States, key elements such as salary, a sense of belonging, job autonomy, and opportunities for promotion significantly contribute to overall job satisfaction Similarly, Sesil (1999) highlighted a strong positive correlation between employee involvement and group incentives and job satisfaction in High Technology Establishments in the United Kingdom These findings underscore the importance of these factors in enhancing job satisfaction across different sectors.

Research indicates that employees in Canada and India who demonstrate job satisfaction and positive work behaviors are more inclined to seek empowerment, irrespective of their cultural backgrounds (Gill, Sharma, Mathur, & Bhutani, 2012).

In addition to research conducted in America and Europe, significant studies on job satisfaction have emerged from Asia, Africa, and the Middle East Notably, Koh, Ma, and Kuek (2012) explored the connections between job satisfaction, job performance, and job stress within higher education institutions.

Malaysia find that job stress has negative impact on job satisfaction and then, job satisfaction affects job performance in a positive relationship According to Ashok and Lekh

(2013), pay, promotion, work itself, supervision, and co-workers can contribute to increase the job satisfaction of managers in pharmaceutical industry in Himachal Pradesh of India

Sadegh and Azadeh (2012) conducted an empirical study in the Iranian airline industry, highlighting that factors such as supervision, coworker relationships, job nature, promotion opportunities, and current pay significantly impact job satisfaction.

A study by Oyebamiji, Kareem, and Ayeni (2013) in Nigeria reveals that key dimensions of job satisfaction—such as pay, supervision, promotion, the nature of work, and working conditions—significantly influence job performance, accounting for 33% of the variance in performance levels The researchers recommend that managers of small and medium enterprises leverage these dimensions as strategic tools to improve employee retention, reduce turnover, and boost overall job performance.

Studies about job satisfaction are not only popular in many countries but also diversify in different fields and research objectives Job satisfaction are researched in technology (Sesil,

1999; Lim, 2008), banking industry (Islam, Mohajan & Datta, 2012; Mansor, Noor &

Hassan, 2012; Muhammad and Kamal, 2009), governments (Krzysztof & Bartomicj, 2013;

Turkyilmaz, Akman, Ozkan, & Pastuszak 2011), hotel industry (Hussain, 2012; Abdullah,

Musa, Zahari, Rahman, & Khalid 2011), textile industry (Ami, Shiji, & Shamira, 2012), health care (Harmon et al., 2003), pharmaceutical industry (Ashok & Lekh, 2013), and many other industries

The objectives of studies on job satisfaction differ based on the authors' intentions Research has explored various determinants of job satisfaction, such as Kumar and Singh (2011), who examined its correlates, and Seashore and Tabler (1975), who focused on indicators and their relationships Additionally, several studies have compared job satisfaction across genders and banking sectors, including Sadegh and Azadeh's (2012) evaluation of gender differences in job satisfaction within Iran's airline industry and Devi and Suneja's (2013) comparative analysis of job satisfaction between public and private sector banks.

Other authors research about the demographic attributes and job satisfaction, such as

In their 2014 study, Santosh and Santoshi explore the connection between various job dimensions and job satisfaction They specifically examine how employee participation influences job satisfaction, commitment, and productivity, highlighting the significant role these factors play in enhancing overall workplace morale and effectiveness.

2007), impact of salary differential on managerial job satisfaction (Okpara, 2004), relationship between job satisfaction and job commitment (Luqman, Bolaji, & Abubakar,

2012), job satisfaction and job performance relationship (Timothy, Carl, Joyce, & Gregory,

2001), work values and job satisfaction (Ju, Mohd, Datin, & Kong, 2006), etc

Low job satisfaction in the banking industry poses challenges to enhancing service quality, stemming from factors such as long hours, workload pressure, inequitable promotions and salaries, and an uncomfortable work environment This dissatisfaction significantly impacts employee performance, absenteeism, commitment, turnover, and citizenship behaviors, ultimately affecting the bank's overall performance (Koh and Boo, 2001) Furthermore, research indicates a direct correlation between employee job satisfaction and customer satisfaction (Yee, Yeung, & Cheng, 2008) Consequently, understanding job satisfaction is crucial for boosting employee performance, improving bank performance, and enhancing customer satisfaction In Vietnam, various studies, including Nguyen (2012), have explored the job satisfaction of employees within the banking sector.

In Da Nang province, Eximbank's study by Phan (2011) examines the factors that affect job satisfaction among commercial banks in Thua-Thien Hue province Additionally, research by Mai and Bui (2013) explores the elements that influence employee loyalty in the banking sector of Ho Chi Minh City, highlighting both direct and indirect relationships through job satisfaction.

This study examines the factors influencing job satisfaction in commercial banks in Ho Chi Minh City, Vietnam, and their impact on overall employee satisfaction Additionally, it explores the relationship between job satisfaction and employee loyalty, while also analyzing gender and sector differences in both job satisfaction and loyalty among employees.

Problem statement

Between 2008 and 2014, Vietnam's banking industry faced significant internal management challenges amid the economic crisis A notable issue was the high turnover in human resources, as many commercial banks resorted to mass layoffs to reduce costs Minh (2014) reported that numerous banks terminated hundreds of employees during this period.

In 2013, Maritime Bank laid off over 1,300 employees, while Asia Commercial Bank reduced its workforce by 1,100 Additionally, Saigon – Hanoi Bank cut 660 jobs in the first half of 2014 These significant reductions have resulted in increased workloads and heightened stress for the remaining staff During this challenging period, the roles of high and middle-level managers remain crucial for the banks' development (Quoc, 2013).

Skilled employees and managers are essential assets for banks, especially in Vietnam, where job responsibilities across commercial banks are quite similar This similarity allows employees to transition easily between banks in search of better benefits.

That is the reason why banks need to have strategies to remain their brilliant employees by increasing their job satisfaction and their loyalty towards organizations

Recent research on job satisfaction within Vietnam's banking sector is limited, with notable studies by Nguyen (2012), Phan (2011), and Mai and Bui (2013) Specifically, Mai and Bui (2013) conducted a study in Ho Chi Minh City, identifying key factors influencing job satisfaction, such as supervisor support, fringe benefits, teamwork, working environment, and training opportunities.

This study seeks to identify additional factors influencing job satisfaction in commercial banks in Ho Chi Minh City By understanding employee demands and requirements, the research aims to enhance management efficiency, boost employee loyalty, and ultimately improve customer satisfaction.

Research objectives

This study investigates the factors affecting job satisfaction among employees in commercial banks in Ho Chi Minh City and assesses the degree of their impact Additionally, it examines how job satisfaction influences employee loyalty and explores potential differences in job satisfaction and loyalty between genders and across various banking sectors.

Research questions

To achieve the research objectives, the study will find the answers for these following questions:

- What are factors that influence job satisfaction in commercial banks in Ho Chi Minh City?

- What are the impact level of these factors on job satisfaction of employees in commercial banks in Ho Chi Minh City?

- What is the influence of job satisfaction on employee loyalty in commercial banks in

- Is there any difference in job satisfaction and employee loyalty between genders and

Research scope

This study is focused on Ho Chi Minh City, Vietnam's most populous and second-largest city, recognized as the nation's hub for economics, culture, and education In the first half of 2014, Ho Chi Minh City made significant contributions to the country's development.

22.71% to GDP of the whole country in which services accounts for 59.38% of GDP of the city (Statistical Office in Ho Chi Minh City, 2014)

As of the end of 2013, Ho Chi Minh City is home to 378 branches across 61 banks, categorized into four sectors based on ownership structures Among these, the first sector comprises three banks owned by the Vietnamese government, including the Vietnam Bank for Social.

Policies, Vietnam Development Bank, and State Bank of Vietnam The second bank sector is 13 foreign commercial banks that have 100% of capital from foreign countries, including

Australia And Newzealand Bank, Deutsche Bank, Citibank, HSBC, Standard Chartered

Bank, Shinhan Bank, Hong Leong Bank, Mizuho, Credit Agricole, Tokyo-Mitsubishi,

Sumitomo Mitsui Bank, Commonwealth Bank, and Bank of Investment and Development

Cambodia The third bank sector is 5 joint-venture commercial banks, including Indovina

Bank, Vietnam - Russia Bank, VID Public Bank, Vinasiam Bank, and Lao – Viet Bank The rest are 40 domestic commercial banks, including Sacombank, Asia Commercial Bank,

In Ho Chi Minh City, commercial banks dominate the banking sector, comprising over 95% of the industry, while government banks like Techcombank and Eximbank make up nearly 5% Consequently, this study concentrates on collecting data specifically from commercial banks in the region.

Therefore, the limitation of location in this study is employees working for commercial banks in Ho Chi Minh City, such as Vietcombank, Vietinbank, Eximbank, Agribank,

Military Bank, Asia Commercial Bank (ACB), Western Bank, Sacombank, HSBC, ANZ,

The data will be collected through questionnaires in September 2014 with the respondents are banking employees and the research objects are job satisfaction and employee loyalty.

Research structure

This study is structured into five comprehensive chapters Chapter 1 introduces the necessity of the research, outlining the background, problem statement, research objectives, scope, and overall structure Chapter 2 reviews existing literature on job satisfaction and employee loyalty, focusing on various industries, particularly the banking sector, and proposes hypotheses and a research model based on these findings Chapter 3 details the research methodology, including data collection and analysis methods, as well as the measurement of constructs Chapter 4 presents and discusses the research results, covering descriptive statistics, reliability tests, exploratory factor analysis, regression analysis, and variance analysis of job satisfaction and employee loyalty by gender and banking sector Finally, Chapter 5 summarizes the study's findings, offers managerial implications, addresses limitations, and suggests directions for future research.

LITERATURE REVIEW

Job satisfaction definition

There are plenty of researches investigating on job satisfaction, such as Kuo and Chen

(2004), Ellickson (2002), Groot and Brink (1999), and Rogers, Clow, and Kash (1994) The definition of job satisfaction is frequently based on Maslow's need hierarchy theory,

Herzberg's motivator-hygiene theory, Vroom’s expectancy theory, and Adam's fairness theory

Job satisfaction, as defined by Locke (1976), is a positive emotional state that arises when individuals perceive their jobs as fulfilling significant values that align with their personal needs.

Job satisfaction is defined as an individual's overall attitude towards their job, reflecting the extent to which employees feel positively about their work within an organization It encompasses the degree of enjoyment and fulfillment that individuals experience in their roles.

Factors impact on job satisfaction

Job satisfaction among employees is influenced by two main groups of factors The first group comprises determinants such as employee participation, hygiene factors, fair and empathetic management, a positive working environment, job characteristics, and opportunities for promotion The second group includes demographic variables that relate to job satisfaction, including gender, marital status, education level, income, and age.

Employee participation significantly enhances performance, as highlighted by Wagner (1994) and Linda (1998), showing that greater involvement in decision-making fosters higher organizational commitment Additionally, Vander, Blonk, Schene, & Van (2001) emphasize that interdependence in group tasks boosts job satisfaction by fostering a sense of belonging and improving coordination among employees.

Hygiene factors, as identified by Zohir (2007), include non-financial benefits like canteen and transport facilities, which significantly influence employees' quality of life These factors play a crucial role in enhancing employee satisfaction and overall performance within the organization.

Moreover, Rahman (2005) and Yussuf (2008) identify technological innovation in working can bring higher level of service quality as well as volume productions

Fair and empathetic management significantly enhances job satisfaction, as highlighted by Locke (1976), who emphasizes the importance of equal rewards and recognition Furthermore, research by Foel et al (2000) demonstrates that employees under democratic leadership report higher satisfaction levels compared to those subjected to autocratic leadership, indicating that leadership style plays a crucial role in influencing job satisfaction.

A positive working environment, characterized by supportive and collaborative colleagues, significantly enhances job satisfaction, as noted by Locke (1976) and Bajpai and Srivastava (2004) Furthermore, Dunham-Taylor (2000) emphasizes that organizational investments in employee development, including motivation to learn and ongoing training, contribute to increased employee satisfaction.

Job characteristics play a crucial role in employee satisfaction, as highlighted by Locke (1976) Intrinsic interest, variety, learning opportunities, and a balanced level of challenge are essential for fostering job satisfaction Employees thrive in roles that allow them to master their skills and competencies while enjoying autonomy and receiving constructive feedback Conversely, jobs lacking challenge can lead to boredom, while those that are overly demanding may result in feelings of failure.

Fair promotion policies within an organization are essential for fostering growth Research by Kalleberg and Mastekaasa (2001) indicates that promotions enhance employees' perceptions of job quality, leading to increased satisfaction and commitment.

(1992) also indicate the similar study result

2.2.2 Demographic variables impact on job satisfaction

Research on the relationship between gender and job satisfaction presents varying viewpoints Studies by Clark (1997), Sloane and Williams (1996), and Ward and Sloane (1998) suggest that women generally report higher levels of job satisfaction compared to their male counterparts However, other researchers offer contrasting findings, indicating a need for further exploration in this area.

Forgionne and Peeters (1982), Shapiro and Stem (1975) find that men to be more satisfied than women

Research indicates a notable connection between marital status and job satisfaction Fetsch and Kennington (1997) found that both divorced and married employees generally report higher job satisfaction levels compared to their single counterparts.

Swortzel, and Taylor (2005) find no relationship between marital status and job satisfaction

Research indicates that higher levels of education positively influence job satisfaction, as individuals' expectations rise with their educational attainment (Churchill, Ford, and Walker, 1979) Employees with advanced education tend to focus more on productivity and experience fewer negative feelings towards their jobs (Bilgic, 1998) Furthermore, when employees perceive a mismatch between their qualifications and their job roles, it can lead to dissatisfaction (Bajpai and Srivastava, 2004).

Falcone (1991), and Okpara (1996) also find the positive relationship between education level and job satisfaction

Income: According to Bilgic (1998), Sokoya (2000), Sweeney, McFrarin, and Inderrieden

Research by Howard and Frink (1996) indicates that job satisfaction varies significantly among employees based on their income levels Typically, employees with lower incomes report lower job satisfaction compared to their higher-paid counterparts However, it's important to note that even well-compensated employees can experience dissatisfaction if they are unhappy with the nature of their work (Luddy, 2005).

Research indicates a complex relationship between job satisfaction and age, with some studies, such as those by Rhodes (1983), Lee and Wilbur (1985), and Weaver (1978), highlighting a positive correlation Conversely, other research, including findings by Herzberg and Mausner, suggests a negative or insignificant link between these two factors.

Peterson, & Capwell, 1957; Singh and Singh, 1980).

Studies about job satisfaction in general and in banking industry

Numerous global studies on employee job satisfaction, detailed in Appendix 1, confirm the extensive research in this area Job satisfaction is examined across various countries and industries, including engineering, public services, and hospitality Additionally, significant research focuses on the banking sector's determinants of job satisfaction, summarized in Table 2.1.

Table 2.1: Studies of factors influence job satisfaction in banking industry

Title of study Determinants of job satisfaction in banking industry Authors (Year)

Factors influencing job satisfaction of banking sector employees in Chennai, India

Pay and promotion, organization aspects, supervisor behavior, job and working condition, and coworker behaviors

Job satisfaction among bank employees in Punjab, Pakistan: A comparative study

Pay and job security Khalid and Irshad (2010)

Job satisfaction in commercial banks of Bangladesh with different ownership structures: A comparative study

- Job relating factors: job security, fair job design, challenging work, status, authority and responsibility, autonomy, personal growth, balance between life and work, opportunities to use skills, quality of supervision

- Benefits: Salary, medical facilities, training and development, housing and others

- Relationship: Relationship with supervisor, teamwork, relationship with coworkers

- Working environment: Working conditions, safety and security, culture of the bank, rules and regulations, availability

Mohammed (2006) of resources, working hours, and working conditions

Effective management behaviors are crucial for fostering a positive workplace culture Key aspects include ensuring fairness in promotions and performance evaluations, providing timely feedback, and recognizing employees' achievements Additionally, a commitment to professional development and genuine concern for employees' well-being are essential Encouraging open communication and allowing freedom of expression further enhance employee engagement and satisfaction.

Demographic attributes and job satisfaction in banks in India

Participate environment, hygiene factors, fair and empathic management, service quality, accessibility, age, and education

A study on job satisfaction and morale of commercial banks in Bangladesh

- Personal factors: gender, age, time on job, religion

- Factors inherent in the job: type of work, skill required, occupation status, commitment to organization, size of organization, place of work

- Factors controllable by management: security, pay, opportunity for advancement/promotional opportunity, working conditions, supervision

Analysis of the factors influencing job satisfaction of the commercial banks’ staff in ThuaThien-Hue province

Salary, bonus policies, incentive mechanisms, work pressure, leadership, training, promotion, work behavior, and relationship

Study of job satisfaction of staff in Eximbank – Da Nang branch

Compensation, leadership, training, promotion, work itself, co-workers, and working conditions

Employee loyalty definition

Loyalty is defined as a psychological state that reflects the relationship between an employee and their organization, influencing their decision to stay with the company (Allen & Grisaffe, 2001).

According to Billings (1993), loyalty is characterized by a strong desire to remain a member of an organization, a commitment to exert significant effort for its benefit, and a firm belief in its values and goals.

Relationship between job satisfaction and employee loyalty

Numerous studies have explored the connection between job satisfaction and employee loyalty across various industries and countries Research by Turkyilmaz et al (2011) reveals a strong positive correlation in Turkey's public sector, where job satisfaction accounts for nearly 50% of the variance in employee loyalty Similarly, Abdullah et al (2009) found that in Malaysia's hotel industry, employee loyalty is significantly influenced by job satisfaction, which is driven by factors such as recognition, rewards, working conditions, teamwork, and supervisor relationships.

Job satisfaction significantly influences employee loyalty across various industries In a study, four key determinants of job satisfaction were found to correlate with employee loyalty aspects such as employment tenure, career planning within the company, and the likelihood of recommending employment Hussain (2012) highlighted a strong connection between job satisfaction and employee loyalty in Pakistan's hotel industry, emphasizing factors like relationships with supervisors, performance appraisals, work environment, teamwork, and coordination Similarly, Mai and Bui (2013) demonstrated that in Vietnam's banking sector, higher job satisfaction, supervisor support, fringe benefits, teamwork, a positive working environment, and training opportunities are all positively linked to increased employee loyalty.

Hypotheses and research model

This study identifies key factors influencing job satisfaction, specifically within the context of commercial banks in Ho Chi Minh City, as highlighted by a comprehensive literature review.

They are participation and empowerment, working conditions, reward and recognition, teamwork, payment and benefits, nature of work, and training and personal development

Employee participation in management and decision-making regarding company strategies, goals, and policies is crucial for fostering engagement According to Chao et al (1994), a strong understanding of a company's goals, values, and politics among employees significantly enhances job satisfaction.

Empowerment is about fostering a work environment where employees can perform their tasks independently, minimizing the need for constant managerial oversight This approach not only enhances individual performance but also contributes to overall organizational success, enabling employees to reach their personal and professional goals.

Armenakis (2005), employees' feeling of empowerment has a positive impact on job satisfaction

Based on the influence of participation and empowerment on job satisfaction, Hypothesis 1

H1: There is a positive relationship between participation and empowerment and job satisfaction

Physical working conditions, as outlined by Locke (1976), encompass factors such as workplace comfort, temperature, humidity, ventilation, lighting, and noise levels It is essential to maintain moderate levels of these elements, as extremes—like insufficient lighting or excessive heat—can lead to physical discomfort and hinder employee productivity.

In 1972, research indicated that employees prioritize proximity to home, modern facilities, cleanliness, and sufficient tools and equipment in their workplaces Job satisfaction is notably enhanced when companies offer more comfortable physical working environments De Troyer (2000) attributes low job satisfaction primarily to poor physical working conditions Thus, based on the correlation between working conditions and job satisfaction, we propose Hypothesis 2 (H2).

H2: There is a positive relationship between working conditions and job satisfaction

According to Maurer (2001), linking rewards and recognition to organizational success is essential, as they significantly influence employee job satisfaction Insufficient rewards and recognition can lead to decreased job satisfaction among employees, highlighting their importance in fostering a positive work environment.

Locke (1976) identifies recognition as a significant factor influencing job satisfaction and dissatisfaction, particularly among blue-collar workers This recognition not only offers feedback on employee performance but also aids in correcting past mistakes and setting future goals for improved efficacy Additionally, promotions, viewed as a form of reward and recognition, enhance job satisfaction by fulfilling employees' desires for psychological growth, fairness, higher income, and social status Consequently, based on the influence of rewards and recognition on job satisfaction, Hypothesis 3 (H3) is proposed.

H3: There is a positive relationship between rewards and recognition and job satisfaction

Effective teamwork enhances employee motivation and performance while boosting self-efficacy By fostering autonomy, significance, and strong bonds among team members, teamwork contributes to overall job satisfaction.

Research by Patterson and West (2011) and Volkwein, Malik, and Napierski (1998) indicates that teamwork positively impacts job satisfaction Additionally, stress stemming from interpersonal relationships is found to negatively affect job satisfaction.

According to Volkwein and Zhou (2003), the impact of teamwork and interpersonal relationships on job satisfaction surpasses that of organizational, environmental, and personal factors This leads to the formulation of Hypothesis 4 (H4), which explores the connection between teamwork and job satisfaction.

H4: There is a positive relationship between teamwork and job satisfaction

Employee training provides opportunities to employees widen their knowledge and abilities for more efficient teamwork and achieve individual development (Jun, Cai, & Shin, 2006)

Research shows that employees who undergo self-development training experience higher job satisfaction compared to those who do not (Saks, 1996) Additionally, training programs that enhance individual competencies positively affect job satisfaction (Martensen & Gronholdt, 2001) Participation in these programs boosts employees' self-confidence, highlights career development opportunities, and demonstrates that companies are investing in their growth (Jun et al., 2006) Consequently, these factors contribute to increased job satisfaction, leading to the proposal of Hypothesis 5 (H5).

H5: There is a positive relationship between training and personal development and job satisfaction

According to Locke (1976), compensation encompasses payment aspects such as amount, fairness, and payment methods, while benefits include pensions, medical care, annual leave, and paid vacations Lai (2011) highlights that an effective compensation system fosters organizational growth and demonstrates a positive correlation between job satisfaction and various pay structures, including job-based, skill-based, and performance-based wages The study emphasizes that intrinsic motivational factors—such as recognition, career opportunities, professional growth, and a positive organizational sentiment—significantly correlate with job satisfaction Consequently, Hypothesis 6 (H6) is proposed to explore the impact of payment and benefits on job satisfaction.

H6: There is a positive relationship between payment and benefits and job satisfaction

According to Locke (1976), the nature of work encompasses elements such as new learning, creativity, autonomy, and decision-making responsibilities, all of which engage an employee's mental faculties, known as mental challenges Without sufficient mental challenges, employees may experience boredom due to their untapped mental capacity When the work presents an adequate challenge that employees embrace, they are likely to become more interested and engaged in their tasks (Ford, 1969; Patchen).

1970) Herzberge et al (1959) and Strong (1943) also indicate that an important precondition of work satisfaction is that the individual finds the work itself personally interesting and meaningful

According to Hansia (2009), most employees believe their personality types align well with their jobs, allowing them to excel and maintain a positive outlook on their personal and professional lives The study highlights that effective recruitment and selection processes are crucial predictors of employee job satisfaction, with equitable hiring practices significantly contributing to workplace contentment.

Based on the relationship between nature of work and job satisfaction, Hypothesis 7 (H7) is proposed as following

H7: There is a positive relationship between nature of work and job satisfaction

2.6.8 Impact of job satisfaction on employee loyalty

Empirical evidences suggest that employee job satisfaction has a positive impact on employee loyalty, such as Fletcher and Williams (1996), Al-Aameri (2000), and Fang

Low job satisfaction can lead to employees leaving their positions or changing careers, as highlighted by Soler (1998) This dissatisfaction often results in decreased loyalty to the organization, lower employee morale, and higher rates of job turnover.

Based on the relationship between job satisfaction and employee loyalty, Hypothesis 8 (H8) is proposed as following

H8: There is a positive relationship between job satisfaction and employee loyalty

2.6.9 Impact of gender on job satisfaction and employee loyalty

RESEARCH METHODOLOLY

Research process

The research process for this study involved three key stages: item generation, pilot survey, and survey with data analysis, as illustrated in Figure 3.1.

Figure 3.1: Research process of the study

The study begins by highlighting the significance of job satisfaction within organizations and reviews various international research on the topic across different fields It identifies the research problem stemming from the current economic context of Vietnam and the gaps in existing job satisfaction studies Consequently, the research objectives and questions are formulated to explore the factors that affect job satisfaction, examine the relationship between job satisfaction and employee loyalty, and investigate potential differences in job satisfaction and employee loyalty among employees.

In September 2014, data was collected from banking employees in Ho Chi Minh City to explore job satisfaction The study presented a comprehensive literature review, which led to the formulation of 12 hypotheses and a proposed research model This initial phase culminated in the creation of a draft questionnaire, developed from the measurement scales derived from the literature review.

In the second stage of the research, two pilot surveys were conducted to evaluate the draft questionnaire prior to the official survey The initial pilot survey involved 10 respondents to identify any issues related to meaning, spelling, and grammar Following this, a second pilot survey with 54 respondents assessed the reliability and validity of the constructs measured The positive results from this second survey led to the development of an official questionnaire, which was subsequently distributed to employees at commercial banks in Ho Chi Minh City for data collection.

In the third stage of the study, a survey was conducted with 143 respondents from 29 commercial banks in Ho Chi Minh City using a simple random sampling method The reliability of the measurement scale for the nine constructs was assessed using Cronbach’s Alpha Subsequently, exploratory factor analysis (EFA) was performed to validate the data, followed by multiple linear regression analysis to explore the relationship between job satisfaction and its determinants, as well as simple linear regression analysis to examine the connection between job satisfaction and employee loyalty Additionally, analysis of variance was utilized to assess differences in job satisfaction and employee loyalty across genders and bank sectors The findings led to the formulation of conclusions and recommendations at the conclusion of this stage.

Data collection methods

Data collection was conducted using a questionnaire featuring a 5-point Likert Scale, ranging from "strongly disagree" to "strongly agree." The scale consisted of five points: 1 for "strongly disagree," 2 for "disagree," 3 for "neutral," 4 for "agree," and 5 for "strongly agree." The questionnaire comprised a total of 35 questions, with 28 designed to assess observable variables and 7 focused on gathering demographic information.

According to Hair et al (2006), a suitable sample for exploratory factor analysis (EFA) requires a ratio of 5:1 between observations and measured items, meaning each item necessitates at least five observations In this study, with 28 items assessing 9 constructs, the minimum number of observations needed is 140.

The official survey collected 143 responses that was acceptable for using exploratory factor analysis

A preliminary pilot survey with 10 participants was conducted to identify any issues related to meaning, spelling, and grammar in the questionnaire Following this, a second pilot survey involving 54 respondents was carried out to assess the reliability and validity of the measurement scales prior to the official survey launch.

Following the positive outcomes of the second pilot survey, official questionnaires were distributed to employees of 29 out of 58 commercial banks in Ho Chi Minh City This included seven foreign banks: ANZ, Citibank, HSBC, Indovina Bank, Shinhan Bank, and Standard Chartered.

Chartered Bank, and VRB There were 22 domestic banks, including ACB, Agribank,

BIDV, Eximbank, HD Bank, Maritime Bank, MB, MHB, OCB, Ocean Bank, Sacombank,

SCB, Techcombank, Tien Phong, VIB, Viet Capital Bank, VietBank, Vietcombank,

Vietinbank, and VPBank Finally, the official survey collected 143 questionnaires that were personally completed and 100% of them were qualified for data analysis.

Data analysis methods

SPSS software was used for analyzing data with many techniques, including descriptive statistics, reliability test, exploratory factor analysis, linear regression, and analysis of variance (ANOVA)

This study employed a mixed-methods approach, utilizing both qualitative and quantitative techniques to analyze the data The qualitative phase involved developing and refining measurement scales for key variables, while the quantitative phase included conducting reliability tests using Cronbach’s Alpha, exploratory factor analysis (EFA), and linear regression to identify determinants of job satisfaction Additionally, analysis of variance (ANOVA) was performed to examine differences in job satisfaction and employee loyalty across genders and banking sectors.

The study employed Cronbach’s Alpha coefficient to assess the reliability of the measurement scale for nine constructs within the theoretical framework, which included participation and empowerment, working conditions, rewards and recognition, teamwork, training and personal development, payment and benefits, nature of work, job satisfaction, and employee loyalty Additionally, exploratory factor analysis (EFA) was conducted to determine the number of factors present among 28 observable variables.

Based on the findings from the Exploratory Factor Analysis (EFA), the study employed two regression models to examine the relationships between independent and dependent variables The first model utilized multiple linear regression, where independent variables included participation and empowerment, working conditions, rewards and recognition, teamwork, training and personal development, payment and benefits, and nature of work, with job satisfaction as the dependent variable The second model applied simple linear regression, focusing on job satisfaction as the independent variable and employee loyalty as the dependent variable.

The theoretical framework of this study draws from Turkyilmaz et al (2011), focusing on job satisfaction and employee loyalty among public sector employees in Turkey The measurement scale utilized in this research demonstrates clarity, with Cronbach’s Alpha and EFA loading coefficients consistently above 0.7 Additionally, several other authors, such as Devi & Suneja (2013) and Phan, have employed similar measurement scales, reinforcing the validity of the constructs used in this study.

(2011), Nguyen (2012), Mohammed (2006), Islam and Saha (2001), Sowmya &

This study, building on the measurement scale developed by Turkyilmaz et al (2011), modified the existing scale of working conditions and introduced two additional constructs: payment and benefits, as well as the nature of work, as noted by Panchanatham (2011) and Hossain (2014).

Turkyilmaz et al (2011) use 3 observable variables to measure participation and empowerment, including (1) participation in decisions, (2) participation in meetings, and (3) employee empowerment – initiative

Turkyilmaz et al (2011) assess working conditions by examining physical working conditions and implementing work measurement techniques to determine the average time required for employees to complete specific tasks While this approach effectively evaluates the performance of certain bank positions, such as tellers and verification officers, it is unsuitable for sales representatives, whose performance is driven by sales targets rather than time constraints Consequently, the study redefined "physical working conditions" by considering the total time of a typical working day and measuring working conditions through infrastructure, working environment, and working hours Nguyen (2012) also adopted this measurement scale, which demonstrates high reliability and validity.

Rewards and recognition were measured by 4 observable variables They were (7) recognition, (8) rewards, (9) just and fair corporate policy, and (10) fair promotion

Teamwork was measured by (11) efficient teamwork, (12) conflict resolution, and (13) sharing problems Training and personal development were measured by (14) importance of training and (15) importance of personal development

According to Locke (1976), the key determinants of job satisfaction include various factors such as work itself, compensation, opportunities for promotion, recognition, working conditions, individual employee characteristics, and relationships with supervisors, co-workers, and subordinates, as well as the overall management and company environment.

In comparing the frameworks of Locke (1976) and Turkyilmaz et al (2011), it is evident that Turkyilmaz et al omitted two critical variables: payment and the nature of work To create a comprehensive understanding of job satisfaction factors, this study incorporates payment, benefits, and the nature of work into the theoretical framework Utilizing the measurement scale developed by Nguyen (2012), the research effectively assesses these elements to gauge their impact on job satisfaction.

Nguyen (2012) uses the Job Descriptive Index developed by Smith et al (1969) that has high reliability and validity in both theory and practice

According to Nguyen (2012), payment encompasses five key variables: (i) salary aligned with job characteristics, (ii) a sense of security regarding current salary, (iii) salary reflecting contribution level, (iv) appropriate subsidies, and (v) a fair bonus policy Among these, the three most significant dimensions are (i) salary matching the nature of work, (ii) a just and fair salary policy, and (iii) affordability of salary for daily living expenses.

(Sowmya & Panchanatham, 2011; Devi & Suneja, 2013) Thus, this study used these 3 dimensions to measure payment due to its simplification

Nguyen (2012) identifies three key dimensions for measuring employee benefits: clarity and completeness of the benefits policy, the provision of care to employees, and the attractiveness of the benefits offered In contrast, Hossain (2014) condenses these dimensions into a single focus on employee satisfaction with the benefits policy, a simplification that aligns more closely with the objectives of this study.

Nguyen (2012) identifies five key dimensions that define the nature of work: (i) the expression of social status, (ii) the effective utilization of personal abilities, (iii) alignment with educational background and specialization, (iv) opportunities for knowledge and skill enhancement, and (v) levels of work-related stress.

The study focused on job satisfaction by excluding dimensions related to social status and opportunities for knowledge improvement Consequently, the nature of work was assessed based on its alignment with education and specialty, as well as its capacity to effectively utilize personal abilities.

According to Turkyilmaz et al (2011), job satisfaction included 4 observable variables

Employees expressed satisfaction with their work by enjoying their roles, valuing opportunities for learning and growth, and feeling significant within the organization Their loyalty was reflected in a strong desire to remain with the bank and a willingness to recommend it to others.

Table 3.1 displays the measurement scale for nine constructs, which includes seven independent constructs and two dependent constructs Further details regarding the studies utilizing these measurement scales can be found in Appendix 4.

Chapter 3 outlines the three key stages of the research process: item generation, pilot surveys, and official survey and data analysis It details the data collection methods employed, which include two pilot surveys and one official survey utilizing questionnaires with a 5-point Likert scale, targeting employees from 29 commercial banks in Ho Chi Minh City.

Data analysis methods include Cronbach’s Alpha reliability test, exploratory factor analysis

(EFA), linear regression, and analysis of variance Measurement scale of 9 constructs are also presented in this chapter

Table 3.1: Measurement scale of constructs in the study

(9) just and fair corporate policy

5 Training and personal development (14) importance of training

(17) just and fair salary policy

(23) to be content with the type of work

9 Employee loyalty (27) desire to continue working for the current bank

(28) recommending the current bank to others

DATA ANLYSIS

Sample description

The study collected 143 questionnaires from 29 banks among 58 banks in Ho Chi Minh

City There were 07 foreign banks, including ANZ, Citibank, HSBC, Indovina Bank,

Shinhan Bank, Standard Chartered Bank, and VRB There were 22 domestic banks, including ACB, Agribank, BIDV, Eximbank, HD Bank, Maritime Bank, MB, MHB, OCB,

Ocean Bank, Sacombank, SCB, Techcombank, Tien Phong, VIB, Viet Capital Bank,

VietBank, Vietcombank, Vietinbank, and VPBank

In a survey of 143 respondents, 41.3% were male (59 participants) while 58.7% were female (84 participants) The majority of banking employees, 82.5%, held university degrees, with 21% possessing master's degrees and only 4% graduating from technical schools or colleges.

This meant banking employees had high education to satisfy high requirements for recruitment

The workforce in the studied commercial banks is predominantly young, with 86.7% of respondents aged between 21 and 30 years Additionally, 17% are in the 31 to 40 age bracket, while only 2% fall within the 41 to 50 age range Regarding tenure, nearly 38% have been with their current banks for 1 to less than 3 years, 32.9% for 3 to less than 5 years, 17.5% for under 1 year, and 18% for 5 years or more.

In this study, nearly 50% of banking employees earned between 6 million VND and 9 million VND, while 25.2% received salaries ranging from 9 million VND to under 12 million VND, and nearly 20% earned over 12 million VND monthly The survey revealed that 84.6% of respondents were employees, with only 15.4% holding positions as supervisors or managers Descriptive statistics of the sample are presented in Table 4.1.

Table 4.1: Descriptive statistics of the study sample

Time of working Below 1 year 25 17.5

From 1 year to less than 3 years 53 37.1

Salary per month From 3 mil VND to less than 6 mil VND 14 9.8

From 6 mil VND to less than 9 mil VND 65 45.5

From 9 mil VND to less than 12 mil VND 36 25.2

From 12 mil VND to above 28 19.6

Reliability test for 9 constructs

The reliability analysis conducted with SPSS software assessed the effectiveness of the data collection instrument A Cronbach’s Alpha value between 0.7 and 0.8 indicates a good fit, while a value of 0.6 or higher is considered acceptable.

The study assessed participation and empowerment through three observable variables: involvement in decision-making, attendance in meetings, and employee initiative The measurement scale demonstrated a Cronbach’s Alpha of 0.686, indicating a moderate level of reliability for these constructs.

The reliability test for the participation and empowerment determinant indicated that removing any item from the scale would result in a Cronbach’s Alpha lower than 0.686, confirming the reliability of the three items included The detailed results of this reliability assessment are shown in Table 4.2.

Table 4.2: Cronbach’s Alpha reliability test results

Scale Mean if Item Deleted

Scale Variance if Item Deleted

Cronbach’s Alpha if Item Deleted

Participation and empowerment (3 items) Cronbach’s Alpha = 0.686

Working conditions (2 items) Cronbach’s Alpha = 0.835

Rewards and recognition (4 items) Cronbach’s Alpha = 0.851

Just and fair corporate policy

Training and personal development (2 items) Cronbach’s Alpha = 0.630

Payment and benefits (4 items) Cronbach’s Alpha = 0.855

Just and fair salary policy 9.84 6.389 0.709 0.810

Nature of work (2 items) Cronbach’s Alpha = 0.805

Job satisfaction (4 items) Cronbach’s Alpha = 0.886

To be content with the type of work

Employee loyalty (2 items) Cronbach’s Alpha = 0.790

Desire to continue working for the current bank

Recommend the current bank to others

Working conditions determinant was measured by 3 observable variables They were infrastructure, working environment, and working hour The Cronbach’s Alpha of this scale was 0.710

Removing the item "working hour" from the scale resulted in an increased Cronbach’s Alpha value of 0.835, surpassing the acceptable threshold of 0.710 This indicates that "working hour" is not a suitable measure for assessing determinants of working conditions and should be excluded from the scale to enhance its reliability The details of the eliminated item are presented in Table 4.3.

The working conditions determinant was assessed using two observable variables: infrastructure and working environment, achieving a Cronbach’s Alpha of 0.835 The reliability test results for the working conditions determinant are presented in Table 4.2.

Table 4.3: Cronbach’s Alpha reliability test results of deleted items

Scale Mean if Item Deleted

Scale Variance if Item Deleted

Cronbach’s Alpha if Item Deleted

Nature of work Cronbach’s Alpha = 0.666

There were four items used to measure rewards and recognition determinant They were recognition, rewards, just and fair corporate policy, and fair promotion The value of

Cronbach’s Alpha for this scale was 0.851 that was good fit to measure the concept

The analysis revealed that the removal of any item from the scale led to a decrease in Cronbach’s Alpha, indicating that all four items are reliable for measuring the rewards and recognition determinant.

Efficient teamwork, conflict solution, and sharing problems were 3 items used to measure teamwork determinant This scale had Cronbach’s Alpha value was 0.748 that indicated it

Due to Cronbach’s Alpha value would decrease if any items in the scale was deleted; these

3 observable variables were appropriate for the measurement scale The scale used for measuring teamwork was shown in Table 4.2

Training and personal development were evaluated using two key items: the significance of training and the value of personal development The reliability analysis indicated that these items are suitable for assessing the determinants of training and personal development, with a Cronbach’s Alpha of 0.630 The reliability test results for this measurement scale can be found in Table 4.2.

There were four items used to measure payment and benefits determinant They were suitable salary, just and fair salary policy, affordable salary, and satisfy with benefit policy

Cronbach’s Alpha of the measurement scale was 0.855 that was good fit to measure the concept Table 4.2 showed the result of reliability test for payment and benefits factor

The determinant was assessed using three key items: suitable work, personal ability, and work stress The Cronbach’s Alpha value was found to be 0.666, indicating an acceptable measurement scale for evaluating the nature of work.

However, if work stress was deleted from the scale, Cronbach’s Alpha increased to 0.805

The study employed appropriate work and personal abilities to assess the determinants of the nature of work The measurement scale for the nature of work is detailed in Table 4.2, while the item related to work stress is illustrated in Table 4.3.

Job satisfaction is assessed through factors such as enjoyment of the work, opportunities for learning and growth, and a sense of importance The reliability of these measurements is indicated by a Cronbach’s Alpha value.

0.886 indicating that it was a good measurement scale

If learning and potential growth was deleted from the scale, Cronbach’s Alpha increased to

The measurement scale for job satisfaction included four key items, highlighting the significance of learning and potential growth, with a score of 0.892, surpassing the previous score of 0.886, as detailed in Table 4.2.

Two items used to measure employee loyalty were desire to continue working for the current bank and recommending the current bank to others The Cronbach’s Alpha was

0.790 shows that the scale was reliable The result was shown in Table 4.2.

Exploratory factor analysis

The adoption of a quasi-quantitative ordinal scale enabled the application of quantitative methods to strong scales Factor analysis facilitated the transformation of a correlated set of variables into a new system of uncorrelated common factors, while still being comparable to the original variables Before extracting constructs through exploratory factor analysis, the validity of this method is assessed by testing the significance of these relationships using Bartlett’s test of sphericity.

KMO (Kaiser-Meyer-Olkin) statistics are utilized to assess the adequacy of sample data, while Bartlett’s test of sphericity evaluates the hypothesis of no significant correlations among variables Rejecting the null hypothesis confirms the validity of the analysis.

KMO is greater than 0.5 shows that exploratory factor analysis is appropriate to apply for the constructs

The extraction method for factor analysis requires that the initial eigenvalues be equal to or greater than 1, with all factors collectively explaining over 50% of the total variance Additionally, variables are considered valid if their loading factor coefficients exceed 0.5.

The reliability test results indicated that all observable variables, except for "working hour" and "work stress," met the criteria for exploratory factor analysis This analysis aimed to identify underlying factors among the 20 observable variables.

Cronbach’s Alpha of the measurement scale

In order to evaluate correlation of variables and significance of these realtions, KMO

(Kaiser – Meyer – Olkin) statistics was applied

The KMO index value was 0.796, indicating a strong correlation among the variables, with a p-value of 0.000, as presented in Table 4.4 This high KMO statistic suggests that the selected set of variables is appropriate and should not be reduced.

Thus, all of the observable variables were included in the factor model

Table 4.4: KMO and Bartlett's Test for independent constructs

Kaiser-Meyer-Olkin Measure of Sampling Adequacy 0.796 Bartlett's Test of Sphericity Approx Chi-Square 1,367E3 df 190

The factor analysis result showed that there were 6 different factors from 7 initial constructs

A new factor termed "motivation" emerged from the combination of two initial constructs: participation and empowerment, along with rewards and recognition, reflecting their close interrelationship This factor encompasses elements that enhance employee job satisfaction, including participation, empowerment, recognition, rewards, and promotion, as highlighted by Herzberg (1959) Consequently, exploratory factor analysis identified six distinct factors: motivation, payments and benefits, nature of work, teamwork, working conditions, and training and personal development, each comprising specific related variables.

Factor 1, motivation, explained 31.88% of variance, including participation in decisions, participation in meetings, employee empowerment – initiative, recognition, rewards, just and fair corporate policy, and fair promotion

Factor 2, payments and benefits, explained 10.58% of variance, including suitable salary, just and fair salary policy, affordable salary, and satisfy with benefit policy

Factor 3, nature of work, explained 8.32% of variance, including suitable work, and personal ability

Factor 4, teamwork, explained 7.49% of variance, including efficient teamwork, conflict resolution, and sharing problems

Factor 5, working conditions, explained 7.11% of variance, including infrastructure and working environment

Factor 6, training and personal development, explained 5.19% of variance, including importance of training and importance of personal development

All of 6 factors had eigenvalues index greater than 1, loading factor coefficients greater than

0.5, and could explain 70.55% of variance Table 4.5 showed the factor analysis result of determinants of job satisfaction and Table 4.6 showed the total variance explained by these factors

Table 4.5: Factor analysis result of determinants of job satisfaction

Just and fair corporate policy 0.592

Just and fair salary policy 0.801

Extraction method: Principal component analysis Rotation method: Varimax with Kaiser Normalization Factor loadings less than 0.5 have been omitted.

Table 4.6: Total variance explained by 6 determinants of job satisfaction

Initial Eigenvalues Extraction Sums of Squared

Extraction method: Principal component analysis Rotation method: Varimax with Kaiser Normalization Factor loadings less than 0.5 have been omitted.

4.3.2.1 EFA for dependent construct of job satisfaction

The KMO index for four observable variables—job contentment, enjoyment of work, opportunities for learning and growth, and a sense of importance—was 0.794 with a significance level of α = 0.000, indicating that exploratory factor analysis for these items was valid The results of the KMO and Bartlett’s test for job satisfaction are detailed in Table 4.7.

Table 4.7: KMO and Bartlett's test for dependent construct of job satisfaction

Kaiser-Meyer-Olkin Measure of Sampling Adequacy 0.794

Bartlett's Test of Sphericity Approx Chi-Square 340.646 df 6

The EFA results indicated that all items loaded onto a single factor, termed "job satisfaction," which accounted for 74.53% of the variance Additionally, all loading factor coefficients exceeded 0.7, reflecting a strong EFA outcome.

Table 4.8 showed the factor analysis result of dependent construct of job satisfaction and

Table 4.9 showed the total variance explained by this factor

Table 4.8: Factor analysis result of dependent construct of job satisfaction

To be content with the type of work 0.886

Extraction method: Principal component analysis Rotation method: Varimax with Kaiser Normalization

Table 4.9: Total variance explained by dependent construct of job satisfaction

Initial Eigenvalues Extraction Sums of Squared Loadings

4.3.2.2 EFA for dependent construct of employee loyalty

The KMO index for the two observable variables, which included the desire to continue working, was relatively low compared to the standard threshold of 0.5 Nonetheless, a KMO value of 0.5 was deemed acceptable for this study, which involved 143 respondents The findings are detailed in Table 4.10.

Table 4.10: KMO and Bartlett's test for dependent construct of employee loyalty

Kaiser-Meyer-Olkin Measure of Sampling Adequacy 0.500

Bartlett's Test of Sphericity Approx Chi-Square 78.113 df 1

The Exploratory Factor Analysis (EFA) revealed a single factor termed "employee loyalty," which accounted for 82.65% of the variance Additionally, all loading factor coefficients exceeded 0.7, indicating a strong EFA outcome.

Table 4.11 showed the factor analysis result of dependent construct of employee loyalty and

Table 4.12 showed the total variance explained by this factor

Table 4.11: Factor analysis result of dependent construct of employee loyalty

Desire to continue working for the current bank 0.909

Recommending the current bank to others 0.909

Table 4.12: Total variance explained by dependent construct of employee loyalty

Initial Eigenvalues Extraction Sums of Squared Loadings

According to EFA result, the revised research model of the study was presented in Figure

The revised hypotheses are presented as followed

H1: There is a positive relationship between motivation and job satisfaction

H4: There is a positive relationship between training and personal development and job satisfaction H5: There is a positive relationship between payment and benefits and job satisfaction

H8a: There is difference in job satisfaction between genders

H8b: There is difference in employee loyalty between genders

H9a: There is difference in job satisfaction between bank sectors

H9b: There is difference in employee loyalty between bank sectors.

Linear regression

Regression analysis is a statistical method used to model and analyze numerical data, focusing on the relationship between a dependent variable and one or more independent variables The R Square value, which ranges from 0 to 1, indicates the proportion of variance explained by the independent variables, with 0 signifying no explanatory power and 1 indicating complete explanation of variance.

The standardized coefficient values of constants and variables highlight the significance of each variable within the model Notably, the t-value for preparedness exceeds 2, indicating its effectiveness as a reliable predictor.

Regression model 1 utilized multiple linear regression to analyze the relationship between six independent variables—motivation, payment and benefits, nature of work, teamwork, working conditions, and training and personal development—and the dependent variable, job satisfaction The findings indicated that these six independent variables significantly contributed to explaining job satisfaction levels.

93.5% variance in overall job satisfaction The rest of variance was explained by other variables that were not included in the model Table 4.13 presented the regression analysis of the model

According to the regression analysis result in Table 4.13, all the standardized beta coefficients had the p-values of 0.000 that meant there were significant relationships among

The study identifies six independent variables that positively influence job satisfaction, indicating that an increase in any of these variables correlates with a rise in job satisfaction levels This highlights the importance of enhancing these factors to improve overall employee contentment.

The regression analysis revealed that motivation is the most significant factor influencing job satisfaction among employees in commercial banks, with a standardized coefficient β of 0.923 and a significance level of 0.000 Key elements of motivation encompass employee participation, empowerment, rewards, recognition, corporate policies, and promotion opportunities.

Table 4.13: Regression analysis result of model 1

Model R R Square Adjusted R Square Std Error of the Estimate

1 0.968 a 0.938 0.935 0.25466477 a Predictors: (Constant), Training and Personal development, Working Conditions, Teamwork, Nature of Work, Payment and Benefits, Reward and Recognition b Dependent variable: Job satisfaction

Payment and benefits emerged as a crucial factor affecting job satisfaction, with a standardized coefficient of β = 0.172 and a significance level of 0.000 Employees reported higher satisfaction when their salaries aligned with their job responsibilities and skills, enabling them to meet their daily living expenses, coupled with favorable benefit policies.

The third important factor was teamwork with the standardized coefficient β = 0.153 at the significant level 0.000 Teamwork included cooperating well with other colleagues, resolving conflicts completely, and sharing problems with others

The nature of work is a crucial factor influencing job satisfaction, with a standardized coefficient β of 0.135 and a significant level of 0.000, highlighting the importance of aligning job positions with personal abilities Additionally, a supportive infrastructure and a safe, clean working environment also contribute significantly, evidenced by a significant level of 0.000 In contrast, training and personal development have a lesser impact on job satisfaction, reflected by a standardized coefficient β of 0.042 and a significant level of 0.051.

Regression model 2 employed a simple linear regression analysis to examine the correlation between job satisfaction and employee loyalty, identifying job satisfaction as the independent variable and employee loyalty as the dependent variable.

The regression analysis revealed that job satisfaction accounts for 38.7% of the variance in employee loyalty, indicating a strong positive relationship with a standardized coefficient of β = 0.625 and a significance level of 0.000 These findings are detailed in Table 4.14.

Table 4.14: Regression analysis result of model 2

Model R R Square Adjusted R Square Std Error of the Estimate

2 0.625 a 0.391 0.387 0.78312214 a Predictors: (Constant), Job satisfaction b Dependent variable: Employee loyalty

Job satisfaction 0.625 0.066 0.625 9.515 0.000 Dependent variable: Employee loyalty

Analysis of variance (ANOVA test)

One-way analysis of variance is used to test the difference between two or more groups

This analysis compares group means to identify variations both within and between groups A p-value greater than 0.05 indicates acceptance of the null hypothesis, suggesting that the average means of the groups are equal and that there is no significant difference among them The study specifically explores how job satisfaction and employee loyalty vary based on gender and the banking sector.

4.5.1 Impact of gender on job satisfaction

Table 4.15 showed the descriptive statistics of gender and Table 4.16 presented the analysis of variance of job satisfaction based on the difference in genders

Table 4.16 shows that the Levene Statistics p-value is 0.11 and the ANOVA p-value is 0.307, both exceeding the 0.05 threshold Therefore, there is no significant difference in job satisfaction between male and female employees.

Table 4.15: Descriptive statistics of gender

Table 4.16: ANOVA analysis – Impact of gender on job satisfaction

Levene Statistic df1 df2 Sig

ANOVA Sum of Squares df Mean Square F Sig

4.5.2 Impact of gender on employee loyalty

The study found no significant difference in employee loyalty between genders, with a Levene's Statistics p-value of 0.381 and an ANOVA p-value of 0.470, as illustrated in Table 4.17.

Table 4.17: ANOVA analysis – Impact of gender on employee loyalty

4.5.3 Impact of bank sector on job satisfaction

Table 4.18 provides descriptive statistics for the banking sector, highlighting both domestic and foreign banks It identifies 22 domestic banks with 100% Vietnamese capital, including notable institutions such as ACB, Agribank, BIDV, Eximbank, HD Bank, Maritime Bank, MB, and MHB.

OCB, Ocean Bank, Sacombank, SCB, Techcombank, Tien Phong, VIB, Viet Capital Bank,

VietBank, Vietcombank, Vietinbank, and VPBank Foreign banks that had at least 50% of capital from other countries consisted of 7 banks, including ANZ, Citibank, HSBC,

Indovina Bank, Shinhan Bank, Standard Chartered Bank, and Vietnam – Russia Bank

Details of bank sector description were shown in Appendix 5

P-value of Levene Statistics was 0.118 and p-value of ANOVA was 0.486 showed that there was no difference in job satisfaction between domestic bank sector and foreign bank sector

Table 4.19 showed the ANOVA analysis result of testing difference in job satisfaction between bank sectors

Table 4.18: Descriptive statistics of bank sector

Table 4.19: ANOVA analysis – Impact of bank sector on job satisfaction

4.5.4 Impact of bank sector on employee loyalty

The study found no significant difference in employee loyalty between domestic and foreign banks, with a Levene's test p-value of 0.019 and an ANOVA p-value of 0.22 These findings are detailed in Table 4.20.

Table 4.20: ANOVA analysis – Impact of bank sector on employee loyalty

Discussion for data analysis results

Through data analysis process above, 11 hypotheses in the theoretical framework were tested and the research results were presented in this section

H1: There is a positive relationship between motivation and job satisfaction

The regression analysis results from Model 1 indicate that motivation is the most significant factor affecting job satisfaction, with a standardized coefficient β of 0.923 and a t-value of 43.180, both surpassing the critical thresholds for significance (p < 0.05) This model accounts for 31.88% of the variance in job satisfaction, providing strong statistical evidence at a 95% confidence level for the positive impact of motivation Consequently, the hypothesis H1 is robustly supported, demonstrating that motivation has a beneficial effect on job satisfaction.

The regression analysis presented in Table 4.13 indicates that working conditions are a significant factor affecting job satisfaction, ranking as the fifth most important with a standardized coefficient of β = 0.116 The t-value of 5.449, which exceeds 2, further supports this finding, demonstrating statistical significance at a level of 0.000.

The study found a strong positive impact of working conditions on job satisfaction, with statistical evidence supporting this conclusion at a 95% confidence level Specifically, working conditions explained 7.11% of the variance in job satisfaction, strongly supporting hypothesis H2 within the research model.

The regression analysis from model 1, detailed in Table 4.13, indicates that teamwork is the third most significant factor affecting job satisfaction, with a standardized coefficient β of 0.153 and a t-value of 7.146, which exceeds the threshold of 2 at a significance level of 0.000 This factor accounts for 7.49% of the variance in job satisfaction, providing strong statistical evidence at a 95% confidence level for the positive impact of teamwork on job satisfaction Consequently, hypothesis H3 is strongly supported, affirming that teamwork positively influences job satisfaction.

H4: There is a positive relationship between training and personal development and job satisfaction

The regression analysis results from Model 1 indicate that training and personal development are the least significant factors affecting job satisfaction, with a standardized coefficient (β) of 0.042 and a t-value of 1.968, which is below the critical threshold of 2 The significance level was 0.051, slightly above the 0.05 mark, suggesting only weak evidence of their positive impact Consequently, these factors accounted for just 5.19% of the variance in job satisfaction, leading to a weak support for hypothesis H4 in the research model.

H5: There is a positive relationship between payment and benefits and job satisfaction

The regression analysis results from model 1, as presented in Table 4.13, indicate that payment and benefits are the second most significant factors affecting job satisfaction, with a standardized coefficient of β = 0.172 and a t-value of 8.029, which is greater than 2, demonstrating statistical significance at p < 0.000.

A strong positive relationship between payment and benefits and job satisfaction was evidenced by a statistically significant correlation (p < 0.05), accounting for 10.58% of the variance This finding supports hypothesis H5, confirming that payment and benefits positively influence job satisfaction.

The regression analysis results from Model 1, as presented in Table 4.13, indicate that the nature of work is a significant factor affecting job satisfaction, ranked as the fourth most important It has a standardized coefficient of β = 0.135 and a t-value of 6.316, which is greater than 2, with a significance level of 0.000.

At a 95% confidence level, statistical evidence indicates a strong positive impact of the nature of work on job satisfaction, accounting for 8.32% of the variance Consequently, the research model strongly supports the hypothesis that the nature of work positively influences job satisfaction.

The regression analysis results from model 2 indicate that job satisfaction significantly influences employee loyalty, with a standardized coefficient β of 0.625 and a t-value of 9.515, both demonstrating statistical significance (p < 0.000) This relationship accounts for 38.7% of the variance, providing strong evidence at a 95% confidence level for a positive impact of job satisfaction on employee loyalty Consequently, the hypothesis H7 is strongly supported, affirming that higher job satisfaction leads to increased employee loyalty.

H8a: There is difference in job satisfaction between genders

The ANOVA analysis presented in Table 4.16 reveals an F-value of 1.052, which is less than 2, and a significance level of 0.307, exceeding the 0.05 threshold This indicates that there is no significant difference in job satisfaction between males and females, leading to a strong rejection of hypothesis H8a in the research model regarding gender differences in job satisfaction.

H8b: There is difference in employee loyalty between genders

The ANOVA analysis presented in Table 4.17 revealed an F-value of 0.524, which is less than 2, and a significance level of 0.470, exceeding the 0.05 threshold This indicates that there is no significant difference in employee loyalty between male and female employees, leading to a strong rejection of hypothesis H8b in the research model.

H9a: There is difference in job satisfaction between bank sectors

The ANOVA analysis presented in Table 4.19 reveals an F-value of 0.489, which is less than 2, and a significance level of 0.486, exceeding the 0.05 threshold This indicates that there is no significant difference in job satisfaction between the domestic and foreign bank sectors, leading to a strong rejection of hypothesis H9a in the research model.

H9b: There is difference in employee loyalty between bank sectors

The ANOVA analysis presented in Table 4.20 revealed an F-value of 1.520, which is less than 2, and a significance level of 0.220, exceeding the 0.05 threshold This indicates that there is no significant difference in employee loyalty between the domestic and foreign bank sectors, leading to a strong rejection of hypothesis H9b in the research model.

The testing results of 11 hypotheses in the research model were shown in Table 4.21

Chapter 4 provides a comprehensive overview of the sample's descriptive statistics, including gender, education, age, work experience, and position The reliability test for nine constructs yielded favorable results, with only two items—work hours and work stress—being excluded Exploratory factor analysis identified eight key factors: motivation, working conditions, teamwork, training and personal development, payment and benefits, nature of work, job satisfaction, and employee loyalty Regression analysis revealed positive correlations between job satisfaction and factors such as motivation, working conditions, teamwork, training and personal development, payment and benefits, and nature of work Furthermore, a strong positive relationship was established between job satisfaction and employee loyalty Notably, the study found no significant differences in job satisfaction or employee loyalty based on gender or bank sector, indicating that demographic variables do not significantly impact these outcomes in commercial banks.

Table 4.21: Testing results of 11 hypotheses in the research model

H1: There is a positive relationship between motivation and job satisfaction 0.923 0.000 Supported

H2: There is a positive relationship between working conditions and job satisfaction 0.116 0.000 Supported

H3: There is a positive relationship between teamwork and job satisfaction 0.153 0.000 Supported

H4: There is a positive relationship between training and personal development and job satisfaction 0.042 0.051 Supported

H5: There is a positive relationship between payment and benefits and job satisfaction 0.172 0.000 Supported

H6: There is a positive relationship between nature of work and job satisfaction 0.135 0.000 Supported

H7: There is a positive relationship between job satisfaction and employee loyalty 0.625 0.000 Supported

H8a: There is difference in job satisfaction between genders 1.052 0.307 Rejected

H8b: There is difference in employee loyalty between genders 0.524 0.470 Rejected

H9a: There is difference in job satisfaction between bank sectors 0.489 0.486 Rejected

H9b: There is difference in employee loyalty between bank sectors 1.520 0.220 Rejected

CONCLUSIONS

Research findings

A recent study identified six key determinants of job satisfaction within commercial banks in Ho Chi Minh City, which collectively explain 93.5% of the variance in job satisfaction These determinants include motivation, payment and benefits, teamwork, nature of work, working conditions, and training and personal development While all factors demonstrate a strong positive influence on job satisfaction, training and personal development show a weaker positive correlation at a significance level of 0.05 Notably, motivation, payment and benefits, teamwork, and nature of work are the most critical factors, accounting for over 50% of the variance in job satisfaction.

The research result also indicates a strong positive relationship between job satisfaction and employee loyalty in which job satisfaction can explain 38.7% variance of employee loyalty

The study investigates the influence of gender and the banking sector on job satisfaction and employee loyalty, revealing that there is no significant correlation between these variables.

Managerial implications

This study identifies six key factors influencing job satisfaction, offering valuable managerial insights for human resource departments in commercial banks in Ho Chi Minh City By focusing on these determinants, banks can enhance employee satisfaction and foster greater loyalty among their workforce.

A recent study highlights that motivation is the key driver of job satisfaction, with recognition being a particularly impactful motivator due to its simplicity and effectiveness Recognition and rewards can vary widely, encompassing formal and informal methods, and should be timely to reinforce desired behaviors and achievements Additionally, promotions serve as a valuable reward for long-term employee loyalty and contributions to organizational growth Encouraging employee participation in meetings fosters collaboration on reports and policies, ultimately supporting successful management practices Therefore, empowering employees and involving them in decision-making processes are crucial for the development of the bank.

Payment and benefits are crucial factors influencing job satisfaction, as highlighted by Locke (1976) Compensation is influenced by individual traits like age, seniority, education, and experience, as well as actions such as effort, output quality, and creativity Beyond meeting physical needs, pay symbolizes achievement and security, granting employees greater freedom in their lives Dissatisfaction arises when employees perceive their pay as inequitable, emphasizing the importance of fairness in compensation Job satisfaction is linked to equitable payment, which reflects justice and rewards aligned with employee contributions Furthermore, employees assess fairness based on both internal and external equity, necessitating that their compensation is comparable to that of their peers within the organization.

Ensuring internal equity within an organization is crucial for employee satisfaction, as disparities in compensation compared to external equity can lead to disappointment and decreased motivation When employees feel their pay does not meet their expectations, they may seek other job opportunities To enhance job satisfaction, organizations should communicate effectively about the benefits available, such as employer-paid health insurance, tax benefits, holidays, vacations, personal days, and tuition reimbursement.

Teamwork is a crucial factor in job satisfaction, as strong relationships among team members foster motivation and collective achievement of goals The human resources department plays a key role in facilitating effective collaboration across different departments within banks To enhance teamwork skills, HR should implement training programs that focus on appreciation, purposeful communication, conflict resolution, and program management Additionally, sponsoring group events—such as women's networks, cooking weekends, and tennis coaching—encourages employees to engage in activities outside of work, promoting better understanding and cooperation among colleagues.

The nature of work is a crucial determinant of job satisfaction, as highlighted by Locke (1976) Key work attributes that enhance employee interest and satisfaction include opportunities for skill utilization, learning, creativity, and a balanced level of challenge and responsibility Conversely, monotonous or overly stressful tasks can lead to dissatisfaction When employees face appropriately challenging work, they become more engaged and invested in their roles, fostering a sense of competence and pride that boosts job satisfaction A well-designed job meets employees' needs for motivation, morale, productivity, and retention Effective job design approaches include work simplification, which streamlines management layers; job enrichment, which adds responsibility and complexity; job enlargement, which increases task variety; and job rotation, which develops expertise across different tasks.

Working conditions significantly influence job satisfaction, ranking as the fifth most important factor They encompass both physical and social elements, including a satisfactory workspace, appropriate lighting, noise levels, thermal comfort, usability, and office equipment An effective workspace should promote employee health and well-being while being adaptable to evolving job tasks through flexible and adjustable designs Additionally, a well-designed working environment fosters improved communication and collaboration among employees and departments, enhancing overall productivity.

Training and personal development play a crucial role in enhancing job satisfaction, as effective training programs can minimize operational errors, boost productivity, reduce turnover, and enhance safety By fostering a learning environment, organizations can cultivate innovation and improve their overall culture Identifying skill gaps and scheduling appropriate training is essential for employee growth Additionally, offering career planning opportunities alongside development experiences significantly contributes to increased job satisfaction and employee loyalty.

This study has some limitation of time shortage and limited sample of 143 respondents

Future research should gather a diverse set of questionnaires from various banking sectors, including state-owned, joint stock, private, and foreign banks, to identify differences and provide valuable recommendations for enhancing job satisfaction Additionally, expanding the research scope to multiple locations across Vietnam or comparing job satisfaction determinants across different industries could yield new insights for the field.

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Limitation and further researches

Organizational behaviors Salary, job characteristics, working conditions, management politics, and coworkers

Job satisfaction and Work Values

Working conditions, pay, relationships with coworkers and supervisors, organizational policies, and the nature of job

Determinants of critical factors on job satisfaction -

A case study on Financial Institute

Management and personnel relationship, relationship among employees, motivation, education, wage and salary, welfare facilities, employees' commitment, job promotion, performance, and organization systems and processes

Job satisfaction of Health care staff employed at Health Centers in Turkey

Work content, age, gender, educational level, working conditions, location (rural or urban), coworkers, salary, and working hours

The Motivation - Hygiene concept and Problems of manpower (1964)

One more time: How do you motivate employees? (1966)

- Hygiene factors: supervision, working conditions, coworkers, pay, policies/procedures, and job security

- Motivation factors: achievement, recognition, work itself, responsibility, advancement, and growth

Job satisfaction and its correlates

- Work motivation: Personal growth, achievement, self-control, monetary gains, non- financial rewards, autonomy, social relations

- Job expectation: Hygiene factors, motivation factors

- Job characteristics: Skill variety, task variety, task significance, autonomy, feedback from job, feedback from self

Job satisfaction indicators and their correlates

- Political and economic environment: unemployment rate

- Organization environment: climate, promotional opportunities

- Job environment: pay, noise, variety

- Stable personality: values, needs, interaction style

Organizational behaviors Salary, job characteristics, working conditions, management politics, and coworkers

Job satisfaction and Work Values

Working conditions, pay, relationships with coworkers and supervisors, organizational policies, and the nature of job

Determinants of critical factors on job satisfaction -

A case study on Financial Institute

Management and personnel relationship, relationship among employees, motivation, education, wage and salary, welfare facilities, employees' commitment, job promotion, performance, and organization systems and processes

Job satisfaction of Health care staff employed at Health Centers in Turkey

Work content, age, gender, educational level, working conditions, location (rural or urban), coworkers, salary, and working hours

The Motivation - Hygiene concept and Problems of manpower (1964)

One more time: How do you motivate employees? (1966)

- Hygiene factors: supervision, working conditions, coworkers, pay, policies/procedures, and job security

- Motivation factors: achievement, recognition, work itself, responsibility, advancement, and growth

Job satisfaction and its correlates

- Work motivation: Personal growth, achievement, self-control, monetary gains, non- financial rewards, autonomy, social relations

- Job expectation: Hygiene factors, motivation factors

- Job characteristics: Skill variety, task variety, task significance, autonomy, feedback from job, feedback from self

Job satisfaction indicators and their correlates

- Political and economic environment: unemployment rate

- Organization environment: climate, promotional opportunities

- Job environment: pay, noise, variety

- Stable personality: values, needs, interaction style

- Transient personality traits: anger, boredom

- Individual responses: withdrawal, aggression, work performance, perceptual distortion, illness, etc

- Organizational responses: quality, productivity, turnover, absence, sabotage

- Societal responses: GNP, illness rate, adaptivity, political stability, quality of life, etc

Appendix 2: English questionnaire used in the study

My name is Phan Thi Tram Thy, a student of International School of Business - University of Economics Ho

Chi Minh City Currently, I am doing my Master thesis, which is named "Empirical study of job satisfaction and employee loyalty: Case of commercial banks in Ho Chi Minh City"

This survey seeks to gather and analyze data on job satisfaction and identify ways to enhance the working environment in commercial banks located in Ho Chi Minh City We kindly ask you to share your insights by completing this form Rest assured, all information provided will remain confidential, and only the aggregated results will be presented.

The measurement scale used in this study is 5-point Likert scale as followed:

1 Strongly disagree 2 Disagree 3 Neutral 4 Agree 5 Strongly agree

1 You can participate in making decisions at your department

2 You can participate in meetings at your department

3 Your supervisors/ managers empower you to finish your work

4 The workplace infrastructure is well equipped

5 The working environment is safe and clean

6 The working hour is appropriate

7 You receive recognition from your supervisors/ managers when you get the job done well

8 You receive rewards from your supervisors/ managers when you get the job done well

9 Your corporate policies are just and fair

10 Promotion at the bank where you are working is fair

11 You can work efficiently with your colleagues

12 You have good conflict resolutions with your colleagues

13 You share your problems with your colleagues

MINISTRY OF EDUCATION AND TRAINING UNIVERSITY OF ECONOMICS HO CHI MINH CITY INTERNATIONALSCHOOL OF BUSINESS

14 Training programs of professional knowledge and skills are important to you

15 Personal development of professional knowledge and skills is important to you

16 Your salary is suitable to the nature of work

17 Salary policy is just and fair

18 Your salary is affordable for your daily life

19 You satisfy with the bank’s benefit policy

20 The work is suitable to your level of education and specialty

21 The work allows you to use your personal abilities well

22 Your work is under high pressure

23 You are content with the type of work

25 You can learn and have potential growth

26 You feel this job is important to you

27 You desire to continue working for your current bank

28 You recommend the bank that you are working to others

32 Your time of working at the current bank:

 From 1 year to less than 3 years

 From 3 year to less than 5 years

 From 5 years to less than 7 years

 From 3.000.000 VND to less than 6.000.000 VND

35 Name of the bank you are currently working for:

 Agribank  Maritime Bank  Ocean Bank  Shinhan Bank Vietnam

 MHB  Viet Capital Bank  Sai Gon Bank  Stardard Chatered Bank

 Vietcombank  VPbank  PG Bank  Indovina Bank

 Vietinbank  VIB  Kienlong Bank  VRB

 Techcombank  Tien Phong  SCB  HSBC

 Eximbank  Dong A Bank  LienvietPost Bank  ANZ

 MB  OCB  BaoViet Bank  Citibank

 ACB  OCB Bank  Western Bank  Hong Leong Bank

 Sacombank  AnBinh Bank  Southern Bank  Others:………

Thank you for your information

Appendix 3: Vietnamese questionnaire used in the study

Kính chào các anh/chị, tôi là Phan Thị Trâm Thy, học viên Viện Đào tạo Quốc tế - Trường ĐH Kinh tế

Tại TP.HCM, tôi đang tiến hành nghiên cứu cho luận văn thạc sỹ với chủ đề "Nghiên cứu thực tiễn về mức độ hài lòng với công việc và lòng trung thành của nhân viên ngân hàng thương mại" Mục tiêu của nghiên cứu là đánh giá sự hài lòng trong công việc và mức độ trung thành của nhân viên trong lĩnh vực ngân hàng thương mại tại khu vực này.

Để nâng cao chất lượng môi trường làm việc tại các ngân hàng khu vực TP.HCM, chúng tôi mong muốn thu thập ý kiến đóng góp và phản hồi từ các anh chị về mức độ hài lòng với công việc Xin vui lòng cung cấp một số thông tin và ý kiến của mình Lưu ý rằng các câu trả lời sẽ được giữ kín và chỉ công bố kết quả tổng hợp.

Anh/chị vui lòng đánh giá các nội dung sau đây theo các các mức độ như sau:

1.Hoàn toàn không đồng ý 2 Không đồng ý 3.Không ý kiến 4 Đồng ý 5 Hoàn toàn đồng ý

I SỰ THAM GIA VÀ TRAO QUYỀN 1 2 3 4 5

1 Anh/chị được tham gia vào việc đưa ra các quyết định tại bộ phận/phòng ban của mình

2 Anh/chị được tham gia các cuộc họp tại bộ phận/phòng ban của mình

3 Anh/chị được cấp trên trao quyền để tự mình hoàn thành công việc được giao

II ĐIỀU KIỆN LÀM VIỆC 1 2 3 4 5

4 Cơ sở vật chất nơi anh/chị làm việc được trang bị đầy đủ

5 Môi trường làm việc an toàn và sạch sẽ

6 Giờ giấc làm việc phù hợp

III PHẦN THƯỞNG VÀ SỰ CÔNG NHẬN 1 2 3 4 5

7 Anh/chị được cấp trên ghi nhận thành tích khi hoàn thành tốt công việc được giao

8 Anh/chị được cấp trên khen thưởng khi hoàn thành tốt công việc được giao

9 Chính sách của ngân hàng anh/chị đang làm việc công bằng và hợp lý

10 Sự thăng tiến tại ngân hàng anh/chị đang làm việc là công bằng

11 Anh/chị hợp tác tốt với các đồng nghiệp

12 Anh/chị giải quyết tốt các mâu thuẫn với đồng nghiệp

13 Anh/chị chia sẻ các vấn đề của mình với đồng nghiệp

V ĐÀO TẠO VÀ PHÁT TRIỂN BẢN THÂN 1 2 3 4 5

BỘ GIÁO DỤC VÀ ĐÀO TẠO TRƯỜNG ĐẠI HỌC KINH TẾ TP HỒ CHÍ MINH

VIỆN ĐÀO TẠO QUỐC TẾ

14 Chương trình đào tạo kiến thức chuyên môn và kỹ năng nghiệp vụ có vai trò quan trọng đối với anh/chị

15 Sự phát triển kiến thức chuyên môn và kỹ năng nghiệp vụ của bản thân có vai trò quan trọng đối với anh/chị

VI TIỀN LƯƠNG VÀ PHÚC LỢI 1 2 3 4 5

16 Tiền lương phù hợp với tính chất công việc

17 Chính sách tiền lương công bằng, hợp lý

18 Tiền lương đủ để anh/chị chi trả cuộc sống hàng ngày

19 Anh/chị hài lòng với chính sách phúc lợi của ngân hàng

VII TÍNH CHẤT CÔNG VIỆC 1 2 3 4 5

20 Công việc phù hợp với trình độ học vấn và chuyên môn của anh/chị

21 Công việc cho phép sử dụng tốt các năng lực cá nhân

22 Công việc của anh/chị chịu áp lực cao

VIII SỰ HÀI LÒNG VỚI CÔNG VIỆC 1 2 3 4 5

23 Anh/chị hài lòng với loại hình công việc này

24 Anh/chị yêu thích công việc của mình

25 Anh/chị có thể học hỏi và phát triển tiềm năng của bản thân

26 Anh/chị cảm thấy công việc này quan trọng đối với mình

IX SỰ TRUNG THÀNH VỚI CÔNG VIỆC 1 2 3 4 5

27 Anh/chị mong muốn tiếp tục làm việc tại ngân hàng này

28 Anh/chị giới thiệu ngân hàng mình đang làm việc cho những người khác

29 Giới tính của anh/chị:

30 Trình độ học vấn của anh/chị:

31 Độ tuổi của anh/chị:

32 Thời gian anh/chị làm việc ở ngân hàng hiện tại:

 Từ 1năm đến ít hơn 3 năm

 Từ 3 năm đến ít hơn5 năm

 Từ 5 năm đến ít hơn7 năm

33 Mức lương hiện nay của anh/chị (tính trên 1 tháng)

 Từ 3.000.000 đồng đến ít hơn 6.000.000 đồng

34 Vị trí công tác hiện tại của anh/chị:

 Quản lý (Kiểm soát viên, Giám đốc/ Phó giám đốc chi nhánh/phòng giao dịch, trưởng/ phó phòng)

 Điều hành (Tổng giám đốc, Giám đốc điều hành)

35 Ngân hàng anh/chị đang làm việc:

 Agribank  Maritime Bank  Ocean Bank  Shinhan Bank Vietnam

 MHB  Viet Capital Bank  Sai Gon Bank  Stardard Chatered Bank

 Vietcombank  VPbank  PG Bank  Indovina Bank

 Vietinbank  VIB  Kienlong Bank  VRB

 Techcombank  Tien Phong  SCB  HSBC

 Eximbank  Dong A Bank  LienvietPost Bank  ANZ

 MB  OCB  BaoViet Bank  Citibank

 ACB  HD Bank  Western Bank  Hong Leong Bank

 Sacombank  AnBinh Bank  Southern Bank  Others:………

Chân thành cám ơn sự đóng góp ý kiến nhiệt tình của các anh chị

Appendix 4: Detail of studies using the measurement scale for 9 constructs

1 Participation in decisions Turkyilmaz et al (2011)

2 Participation in meetings Turkyilmaz et al (2011)

Nguyen (2012) Phan (2011) Sowmya & Panchanatham (2011) Mohammed (2006)

Nguyen (2012) Devi & Suneja (2013) Mohammed (2006) Hossain (2014)

Nguyen (2012) Phan (2011) Devi & Suneja (2013) Mohammed (2006) Hossain (2014)

Devi & Suneja (2013) Mohammed (2006) Islam & Saha (2001)

9 Just and fair corporate policy

10 Fair promotion Turkyilmaz et al (2011)

Phan (2011) Devi & Nagini (2013) Sowmya & Panchanatham (2011) Devi & Suneja (2013)

12 Conflict resolution Turkyilmaz et al (2011)

13 Sharing problems Turkyilmaz et al (2011)

Turkyilmaz et al (2011) Devi & Suneja (2013) Mohammed (2006) Islam & Saha (2001)

Nguyen (2012) Sowmya & Panchanatham (2011) Devi & Suneja (2013)

17 Just and fair salary policy

Nguyen (2012) Phan (2011) Devi & Suneja (2013) Hossain (2014)

19 Satisfy with benefit policy Hossain (2014)

Nguyen (2012) Phan (2011) Devi & Nagini (2013) Islam & Saha (2001)

23 To be content with the type of work Turkyilmaz et al (2011)

24 Enjoying the job Turkyilmaz et al (2011)

Devi & Nagini (2013) Sowmya & Panchanatham (2011) Devi & Suneja (2013)

27 Desire to continue working for current bank Turkyilmaz et al (2011)

28 Recommending the bank to others Turkyilmaz et al (2011)

Tiêu đề	Empirical Study of Job Satisfaction and Employee Loyalty
Tác giả	Phan Thi Tram Thy
Người hướng dẫn	Dr. Cao Hao Thi
Trường học	University of Economics Ho Chi Minh City
Chuyên ngành	Master of Business
Thể loại	Thesis
Năm xuất bản	2015
Thành phố	Ho Chi Minh City

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