Factors affecting the job satsfaction of employees in wall street english viet nam

MINISTRY OF EDUCATION AND TRAINING THE STATE BANK OF VIETNAM BANKING UNIVERSITY OF HO CHI MINH CITY NGUYEN THI NGOC VAN FACTORS AFFECTING THE JOB SATISFACTION OF EMPLOYEES IN WALL STREET ENGLISH VIETNAM GRADUATE THESIS Major: BUSINESS ADMINISTRATION Code: 7340101 SUPERVISOR DR PHAM HUONG DIEN HO CHI MINH CITY, 2022 MINISTRY OF EDUCATION AND TRAINING THE STATE BANK OF VIETNAM BANKING UNIVERSITY OF HO CHI MINH CITY Name: NGUYEN THI NGOC VAN ID Student: 050606180447 Class: HQ6-GE03 FACTORS AFFECTING THE JOB SATISFACTION OF EMPLOYEES IN WALL STREET ENGLISH VIETNAM GRADUATE THESIS Major: BUSINESS ADMINISTRATION Code: 7340101 SUPERVISOR DR PHAM HUONG DIEN HO CHI MINH CITY, 2022 i ABSTRACT This thesis aims to explore the factors influencing the job satisfaction of employees in Wall Street English Vietnam This study is based on a literature review on job satisfaction, staff behavior and previous studies This study conducts quantitative research methods In the quantitative research, the author collects survey questionnaire data from 200 employees who range from 18 to 45 years old Based on the research results, the author shows that six factors influence job satisfaction of employees in Wall Street English Vietnam: income, promotion, colleagues, nature of work, recognition and work environment Meanwhile, the income factor has the most decisive influence on the job satisfaction, the nature of work factor has the weakest impact From the study results, several governance implications have been proposed to improve and enhance efficiently and effectively in enviroment educational for companies Keywords: Job satisfaction, influencing factors, staffs ii AUTHOR’S DECLARATION I hereby declare that the thesis “Factors affecting the job satisfaction of employees in wall street english vietnam” is the result of my research conducted over 10 weeks Except for references from previous research works as stated in the thesis, the survey data and the results of the thesis are completely honest and have not yet been published in any research work before Ho Chi Minh, November 2022 Nguyen Thi Ngoc Van iii ACKNOWLEDGEMENT First and foremost, I would like to express my whole-hearted gratitude to my supervisor, Dr Pham Huong Dien Thanks to her teaching in transmitting a myriad of important knowledge, and good recommendations in line with her patience and devotion, I could able to complete a well-rounded my bachelor's thesis During conducting my thesis process, I received a bunch of meaningful teaching and inspiration from my respected lecturer Furthermore, I am grateful to all the professors and lecturers from the Banking University of Ho Chi Minh City who educate me with vital comprehensive knowledge and essential skills throughout my syllabus at university Last but not least, I also want to thank the examiners for your pivotal time and consideration to review my graduation thesis iv TABLE OF CONTENT ABSTRACT i AUTHOR’S DECLARATION ii ACKNOWLEDGEMENT iii TABLE OF CONTENT iv LIST OF ABBREVIATIONS vii TABLE LIST viii FIGURE LIST ix CHAPTER 1: OVERVIEW OF THE RESEARCH 1.1 Research statement 1.2 Research objective 1.3 Research question 1.4 Subjects of the research and scopes of study 1.5 Research Significance 1.5.1 Academic Significance 1.5.2 Practical Significance 1.6 Thesis structure CHAPTER 2: LITERATURE REVIEW 2.1 Basics of concepts 2.1.1 Job satisfaction 2.1.2 Overview of the c in Vietnam 2.1.2.1 Maslow's hierarchy of needs 2.1.2.2 Herzberg’s two-factor theory 2.1.2.3 Vroom's expectancy theory 10 2.2 Previous empirical studies 10 2.2.1 Previous related foreign studies 10 v 2.2.2 Previous related Vietnamese studies 12 2.3 The evaluation of previous related studies 15 2.4 The Hypothesis and conceptual model 16 2.4.1 Hypothesis 16 2.4.1.1 Relationship between income and job satisfaction of employees 16 2.4.1.2 Relationship between promotion and job satisfaction of employees 17 2.4.1.3 Relationship between colleagues and job satisfaction of employees 17 2.4.1.4 Relationship between nature of work and job satisfaction of employees 18 2.4.1.5 Relationship between work environment and job satisfaction of employees 19 2.4.1.6 Relationship between recognition and job satisfaction of employees 20 2.4.2 Conceptual model 20 CHAPTER 3: RESEARCH METHODOLOGY 24 3.1 Process of research 24 3.2 Research steps 24 3.3 Research Methodology 25 3.3.1 Methodology of theoretical research 25 3.3.2 Practical research method 25 3.4 3.4 Research design 26 3.4.1 Sample size 26 3.4.2 Sampling method 27 3.4.3 Building the scale 28 3.4.4 Questionnaire design 30 3.4.5 Data collection 30 3.5 Data processing method 31 3.5.1 Descriptive statistic 31 3.5.2 Cronbach’s Alpha analyzing 31 3.5.3 EFA Analyzing 32 3.5.4 Regression analysis 33 vi CHAPTER 4: RESEARCH RESULT 34 4.1 Sample Description 34 4.2 Scale Reliability Testing 36 4.3 Exploratory Factor Analysis 39 4.3.1 Factor analysis for the independent variable 39 4.3.2 Factor analysis for the dependent variable 41 4.4 Correlation Analysis 43 4.5 Regression Analysis 44 4.5.1 Testing the Fit of the Regression Model 44 4.5.2 Regression analysis results 45 4.5.3 Testing Multicollinearity 47 4.5.4 Testing the constant residual variance 49 4.6 Result discussion 50 CHAPTER 5: CONCLUSION 53 5.1 Conclusion 53 5.2 Managerial implications 53 5.2.1 Income factor 54 5.2.2 Promotion factor 54 5.2.3 Colleagues factor 54 5.2.4 Nature of work factor 55 5.2.5 Work environment factor 55 5.2.6 Recognition factor 56 5.3 Limitations and future research 56 vii LIST OF ABBREVIATIONS Acronym Definition C Colleagues E Expectancy EFA Exploratory factor analysis I Income I Instrumentality JS Job satisfaction KMO Kaiser–Meyer–Olkin test NW Nature of work P Promotion R Recognition Sig Significance Level SPSS Statistical Package for the Social Sciences V Valence WE Work environment viii TABLE LIST Table 3.1: Measurement scale of observed variables 28 Table 4.2: Sample Description 35 Table 4.3: Scale Reliability Testing 37 Table 4.4: KMO and Bartlett's Test for the independent variable 39 Table 4.5: Eigenvalues and covariance deviations for the independent variable 39 Table 4.6: Factor loading for the independent variable 40 Table 4.7: KMO and Bartlett's Test for the dependent variable 41 Table 4.8: Eigenvalues and covariance deviations for the dependent variable 42 Table 4.9: Factor loading for the dependent variable 42 Table 4.10: Pearson correlation analysis 43 Table 4.11: Model Summary 43 Table 4.12: ANOVA analysis 44 Table 4.13: Coefficients Analysis for Independent Variable 44 Table 4.14: Testing Multicollinearity 46 Table 4.15: Summary of hypothesis testing results 48 69 Result of the reliability assessment of Income Reliability Statistics Cronbach's N of Alpha Items 785 Item-Total Statistics Scale Cronbach's Scale Mean Variance if Corrected Alpha if if Item Item Item-Total Item Deleted Deleted Correlation Deleted I1 10.66 4.118 592 732 I2 10.99 4.058 599 729 I3 10.74 4.153 582 737 I4 10.68 4.123 593 732 Result of the reliability assessment of Promotion Reliability Statistics Cronbach's N of Alpha Items 785 Item-Total Statistics 70 Scale Cronbach's Scale Mean Variance if Corrected Alpha if if Item Item Item-Total Item Deleted Deleted Correlation Deleted P1 7.20 2.160 604 729 P2 7.39 2.220 603 730 P3 7.30 2.019 664 663 Result of the reliability assessment of Colleagues Reliability Statistics Cronbach's N of Alpha Items 826 Item-Total Statistics Scale Cronbach's Scale Mean Variance if Corrected Alpha if if Item Item Item-Total Item Deleted Deleted Correlation Deleted C1 11.26 4.504 587 810 C2 11.32 4.307 646 784 C3 11.17 4.212 664 775 C4 11.24 4.145 712 754 Result of the reliability assessment of Nature of work 71 Reliability Statistics Cronbach's N of Alpha Items 828 Item-Total Statistics Scale Cronbach's Scale Mean Variance if Corrected Alpha if if Item Item Item-Total Item Deleted Deleted Correlation Deleted NW1 14.79 7.000 582 806 NW2 14.77 6.856 630 793 NW3 15.15 6.821 635 791 NW4 14.83 6.950 589 804 NW5 14.85 6.584 688 776 Result of the reliability assessment of Work environment Reliability Statistics Cronbach's N of Alpha Items 828 72 Item-Total Statistics Scale Cronbach's Scale Mean Variance if Corrected Alpha if if Item Item Item-Total Item Deleted Deleted Correlation Deleted WE1 14.92 6.567 678 778 WE2 14.88 7.006 574 807 WE3 14.52 6.610 656 784 WE4 14.49 6.688 645 787 WE5 14.73 6.946 568 809 Result of the reliability assessment of Recognition Reliability Statistics Cronbach's N of Alpha Items 792 Item-Total Statistics Scale Cronbach's Scale Mean Variance if Corrected Alpha if if Item Item Item-Total Item Deleted Deleted Correlation Deleted R1 11.17 4.232 602 741 R2 11.12 4.190 608 738 R3 11.14 4.050 611 736 R4 11.20 4.237 586 749 73 EXPLORATORY FACTOR ANALYSIS (EFA) The result of KMO and Bartlett’s Test for independent variable (1st time) KMO and Bartlett's Test Kaiser-Meyer-Olkin Measure of Sampling 784 Adequacy Bartlett's Test of Approx Chi-Square 2792.05 Sphericity df 300 Sig .000 Eigenvalues and covariance deviations for independent variables (1st time) Total Variance Explained Extraction Sums of Squared Rotation Sums of Squared Loadings Loadings Initial Eigenvalues % of Component Total Variance Cumulative % of Cumulative % of % Total Variance % Total Variance Cumulative % 7.932 31.726 31.726 7.932 31.726 31.726 3.264 13.056 13.056 2.069 8.277 40.003 2.069 8.277 40.003 3.166 12.664 25.721 1.757 7.029 47.033 1.757 7.029 47.033 2.910 11.640 37.361 1.727 6.908 53.941 1.727 6.908 53.941 2.524 10.095 47.456 1.549 6.194 60.136 1.549 6.194 60.136 2.468 9.871 57.328 1.457 5.826 65.962 1.457 5.826 65.962 2.158 8.634 65.962 825 3.300 69.261 777 3.107 72.369 702 2.809 75.177 10 677 2.708 77.886 11 668 2.672 80.557 12 566 2.265 82.822 13 546 2.183 85.005 14 525 2.100 87.105 74 15 485 1.939 89.044 16 459 1.837 90.881 17 395 1.581 92.462 18 372 1.488 93.951 19 342 1.368 95.318 20 336 1.344 96.662 21 307 1.230 97.892 22 271 1.083 98.975 23 106 425 99.400 24 080 320 99.720 25 070 280 100.000 Extraction Method: Principal Component Analysis EFA in the 1st time Rotated Component Matrixa Component WE3 800 WE4 759 WE2 687 C4 632 WE5 603 794 NW3 731 NW4 718 NW1 623 616 NW2 WE1 630 627 R2 773 R3 735 75 R4 716 R1 704 NW5 608 619 I2 793 I3 741 I1 715 I4 707 C2 787 C3 782 C1 744 P3 844 P1 798 P2 702 Extraction Method: Principal Component Analysis Rotation Method: Varimax with Kaiser Normalization a Rotation converged in iterations The result of KMO and Bartlett’s Test for independent variable (2nd time) KMO and Bartlett's Test Kaiser-Meyer-Olkin Measure of Sampling 840 Adequacy Bartlett's Test of Approx Chi-Square 1607.72 Sphericity df 231 Sig .000 Eigenvalues and covariance deviations for independent variables (2nd time) 76 Total Variance Explained Extraction Sums of Squared Rotation Sums of Squared Loadings Loadings Initial Eigenvalues % of % of % of Component Total Variance Cumulative % Total Variance Cumulative % Total Variance Cumulative % 6.316 28.708 28.708 6.316 28.708 28.708 2.499 11.361 11.361 1.748 7.946 36.654 1.748 7.946 36.654 2.497 11.351 22.712 1.719 7.814 44.468 1.719 7.814 44.468 2.488 11.309 34.021 1.544 7.016 51.484 1.544 7.016 51.484 2.434 11.064 45.085 1.486 6.755 58.239 1.486 6.755 58.239 2.134 9.701 54.787 1.311 5.961 64.200 1.311 5.961 64.200 2.071 9.413 64.200 798 3.627 67.827 714 3.244 71.070 680 3.092 74.162 10 645 2.930 77.092 11 611 2.776 79.868 12 546 2.481 82.349 13 517 2.348 84.697 14 483 2.196 86.893 15 467 2.122 89.015 16 448 2.036 91.051 17 387 1.759 92.810 18 358 1.629 94.440 19 338 1.536 95.976 20 323 1.469 97.445 21 299 1.361 98.806 22 263 1.194 100.000 Extraction Method: Principal Component Analysis 77 EFA in the 2nd time Rotated Component Matrixa Component WE3 777 WE4 770 WE2 699 WE5 649 R3 776 R4 744 R2 743 R1 682 I2 798 I3 742 I1 715 I4 710 NW2 757 NW3 749 NW1 710 NW4 707 P3 845 P1 804 P2 711 C1 779 C3 778 C2 769 78 Extraction Method: Principal Component Analysis Rotation Method: Varimax with Kaiser Normalization a Rotation converged in iterations The result of KMO and Bartlett’s Test for dependent variable KMO and Bartlett's Test Kaiser-Meyer-Olkin Measure of Sampling 705 Adequacy Bartlett's Test of Approx Chi-Square 185.569 Sphericity df Sig .000 Eigenvalue and covariance deviations for dependent variables Total Variance Explained Extraction Sums of Squared Initial Eigenvalues Compone Loadings % of Cumulative % of Cumulative nt Total Variance % Total Variance % 2.125 70.849 70.849 2.125 70.849 70.849 477 15.917 86.765 397 13.235 100.000 Extraction Method: Principal Component Analysis The factor rotation matrix of the dependent variable 79 Component Matrixa Compone nt JS2 856 JS3 847 JS1 822 Extraction Method: Principal Component Analysis a components extracted RESULT OF CORRELATIONS Correlations JS Pearson JS I P C NW WE R 553** 489** 476** 492** 572** 533** 000 000 000 000 000 000 Correlation Sig (2-tailed) I N 207 207 207 207 207 207 207 Pearson 553** 298** 334** 367** 340** 346** 000 000 000 000 000 207 207 207 207 207 Correlation Sig (2-tailed) 000 N 207 207 80 P 489** 298** 332** 305** 376** 336** Sig (2-tailed) 000 000 000 000 000 000 N 207 207 207 207 207 207 207 Pearson 476** 334** 332** 346** 347** 267** Sig (2-tailed) 000 000 000 000 000 000 N 207 207 207 207 207 207 207 Pearson 492** 367** 305** 346** 355** 382** Sig (2-tailed) 000 000 000 000 000 000 N 207 207 207 207 207 207 207 Pearson 572** 340** 376** 347** 355** 399** Sig (2-tailed) 000 000 000 000 000 N 207 207 207 207 207 207 207 Pearson 533** 346** 336** 267** 382** 399** Sig (2-tailed) 000 000 000 000 000 000 N 207 207 207 207 207 207 Pearson Correlation C Correlation NW Correlation WE Correlation R 000 Correlation ** Correlation is significant at the 0.01 level (2-tailed) REGRESSION ANALYSIS Model Summaryb Mode R Adjusted R Std Error of Durbin- l R Square Square the Estimate Watson 778a 605 593 44923 2.066 a Predictors: (Constant), R, C, P, I, NW, WE 207 81 b Dependent Variable: JS ANOVA JS Sum of Between Mean Squares df Square F Sig .778 259 519 669 101.381 203 499 102.159 206 Groups Within Groups Total Coefficientsa Model Unstandardized Standardized Collinearity Coefficients Coefficients Statistics B (Constant) -.769 Std Error Beta 262 t Sig Tolerance - 004 VIF 2.930 I 272 055 252 4.933 000 758 1.320 P 165 051 162 3.203 002 768 1.303 C 160 053 154 3.037 003 771 1.297 NW 145 057 132 2.547 012 732 1.365 WE 269 058 244 4.640 000 712 1.405 R 216 056 203 3.900 000 732 1.366 a Dependent Variable: JS 82 Testing the Normality of Residuals Residuals Statisticsa Minimu Maximu Std m m Mean Deviation N Predicted Value 1.1921 4.8683 3.7520 54771 207 Residual - 1.12979 00000 44264 207 -4.674 2.038 000 1.000 207 -3.477 2.515 000 985 207 1.56199 Std Predicted Value Std Residual a Dependent Variable: JS 83 ... independent factor ? ?Job satisfaction of employees in Wall Street English Vietnam” to determine and measure factors affecting Job satisfaction of employees in Wall Street English Vietnam 22 Income... research The study focuses on determining the factors affecting the the job satisfaction of employees in Wall Street English Vietnam in the current period and the influence of each factor on the decision... affecting job satisfaction of Wall Street English Vietnam employees 3 - Evaluating the impacts of the above factors on job satisfaction of Wall Street English Viet Nam employees - Proposing managerial