INTERNATIONAL UNIVERSITY HCM VIETNAM NATIONALUNIVERSITY SCHOOL OF BUSINESS

INTERNATIONAL UNIVERSITY HCM VIETNAM NATIONALUNIVERSITY SCHOOL OF BUSINESS RESEARCH REPORT JOB SATISFACTION IN THE TEXTILE INDUSTRY- BAGS AND SHOES Instructor: DR Mai Ngoc Khuong GROUP - MONDAY CLASS ABSTRACT I INTRODUCTION II LITERATURE REVIEW 7-9 III RESEARCH METHODOLOGY 11 IV RESEARCH FINDINGS 13-34 Descriptive Analaysis ANOVA Multiple Regression V, DISCUSSIONS AND RECOMMENDATIONS 36-42 Discussions Recommendations REFERENCES 43 ABSTRACT It has been long acknowledged that human resource is very vital to the development of a company, especially for the industries that require a large quantity of labors like textile industry as well as bags and shoes industry Based on statistical data from Ho Chi Minh City Institute for Development Studies, textile industry of Vietnam has more than million workers, accounting for 24% industrial labor In dealing with a large workforce like this, a strategic plan of human resource management is very important for enterprises to keep everything go smoothly, increase productivity and earn profit One of the key defining good human resource management is whether the company can make its staffs feel satisfied with their job or not The data from some previous researches have shown that job dissatisfaction is increasing in the work force Due to the research done by CareerBuilder, more employees are feeling disappointed, and this number has risen by 20% in the last years The result of this problem is the rate of people quitting from their job is high, leading to the shortage of experienced employees for middle and high manager positions or having ability to work with high technology However, many companies still not have an appropriate strategic plan to raise the job satisfaction of the workers to solve the problem, which is one of the factors that hinder the company from improving the productivity and making profit Realizing that fact, our group has decided to carry out this survey with the main ends of getting the statistical data about the opinions of the workers working in textile and bags & shoes industries about the factors that make them feel satisfied with their current job After being taken from the workers, the raw data is then processed to analyze and construct a regression model in order to determine the relationship between the variables From that, we can realize which key factors influence job satisfaction and decide what should be included and focused in the human resource strategic plan INTRODUCTION I INTRODUCTION The textile industry- bags and shoes not stay away with these common problems, especially human resource problems Many businesses had the project of treatment for their employee to encourage them to hard work, and attract the talent to the company However, in fact, there is some inadequacy, such as: many employee still get the high salary which they don’t deserve for, their responsibility of working is still low In addition, every year, to supply the shortage human resource which is necessary for each project cost a huge amount of money, and time Nowadays, people can freely switch the old work or workplace into the new one if they are willing to pay higher With these reasons, the research about “The satisfaction of the employees at work” is extremely imminent and necessary LITERATURE REVIEW II LITERATURE REVIEW This section will show some evidences to make clear about issue of current satisfaction level of staffs and workers in textile and leatherworking companies in Viet Nam In recent years, the issue of satisfaction level of staffs and workers become important As researchers depend on statistics to forecast that inflation in Viet Nam is more and more increasing, especially raise to 10 percent in 2013, it creates problems about money as lowing income Salaries of staffs and workers are not added up much, but the cost of living is higher every day This chart shows that low salaries make staffs and workers another job within their main job to earn extra money The government has been put more and more effort to control the inflation, but the fact is that salaries need to be enough for staffs and workers to live in the recent cost of living Furthermore, there are not only the issue of low salary to get satisfaction, but these issues also have benefits, training and promotion, working environment, relationships with co-workers, leaderships, etc This chart is a little bit different from our data collected but it also has working environment, training and promotion, and benefits that are most concerned in satisfaction level of staffs and workers As managers, we always find ways to get highest satisfaction of staffs and workers because it will create effective working for getting higher profits and contributing to developing Viet Nam’s economic Depending on our survey of satisfaction level of staffs and workers in textile and leatherworking companies, we will try to suggest recommendations for raising higher satisfaction level of staffs and workers RESEARCH METHODOLOGY b ANOVA result Between Groups Within Groups Total Sum of Squares df Mean Square F Sig 6170 170076 176246 239 243 1542 712 2.167 073 Because the p-value lies in the non-rejection region for levels of α = 0.05 (Sig = 0.073> 0.05), we cannot reject the null hypothesis It means that differe t le el of edu atio e si ilar jo satisfa tio IV RESEARCH FINDINGS Multiple Regressio A al sis To explore the relationship between a continuous dependent variable “I am satisfied with salary and benefits received from my current job “and a number of independent variables including: I am paid fair amount for the work I I receive adequate allowances I receive year-end bonuses and holiday bonuses I have other opportunities for variable pay (bonuses, commissions, tips, monetary rewards for new ideas or suggestions, etc.) I receive health care and medical benefits from my company Company supports transportation fee for provincial staff (e.g., Tet holiday) Duration of vacations (Tet, holidays) are suitable and satisfactory Staff family receives care and benefits from company (wedding celebration, life insurance for dependents, subsidized child care, elder care referral service, etc.) Retirement program is appropriate we use the multiple regression analysis Hypothesis test: H1: There are positive relationships between independent variables and the dependent variable of “I am satisfied with salary and benefits received from my current job” H2: Variable of “I am satisfied with salary and benefits received from my current job” is well explained and predicted by factors of independent variables a F- test Sum of Squares df Mean Square F Sig Regression 79462 8.829 21.753 000(a) Residual 94976 234 406 Total 174439 243 Model We can see that F= 21.753 with Sign =.000< 0.05, which means that our regression model is appropriate b The result of R Square Model R 675 R Square 456 Adjusted R Square 435 Std Error of the Estimate 63709 We can see that the adjusted R Square = 456 Therefore, our conclusion is that the model explains 45.6% of variance of the dependent variable “I am satisfied with salary and benefits received from my current job” c Sig table From the Sig table, we could find which independent variables contribute significantly to the increase of employee satisfaction with their salary and benefits received from their current job in selected companies in the textile industry- bags and shoes Standardized Coefficients Beta Column1 Sig (Constant) 136 I am paid fair amount for the work I .231 000 I receive adequate allowances -.016 811 I receive year-end bonuses and holiday bonuses .000 999 I have other opportunities for variable pay (bonuses, commissions,tips, monetary rewards for new ideas or suggestions, etc.) .221 000 I receive health care and medical benefits from my company .071 214 Company supports transportation fee for provincial staff (e.g., Tet holiday) -.042 512 Duration of vacations (Tet, holidays) are suitable and satisfactory -.043 497 Staff family receives care and benefits from company (wedding celebration,life insurance for dependents, subsidized child care, elder care referral service, etc.) .191 004 Retirement program is appropriate .304 000 As is shown by the above table, it is worth noting that independent variables such as: I am paid fair amount for the work I (Because Sig.=.000