Factors influencing job satisfaction a case study of generation z in white collar sector in ho chi minh city

MINISTRY OF EDUCATION AND TRAINING THE STATE BANK OF VIET NAM BANKING UNIVERSITY OF HO CHI MINH CITY LE THUY TUYET NGHI FACTORS INFLUENCING JOB SATISFACTION: A CASE STUDY OF GENERATION Z IN WHITE-COLLAR SECTOR IN HO CHI MINH CITY GRADUATE THESIS MAJOR: BUSINESS ADMINISTRATION CODE: 7340101 SUPERVISOR Dr Bui Duc Sinh HO CHI MINH CITY, 2022 MINISTRY OF EDUCATION AND TRAINING THE STATE BANK OF VIET NAM BANKING UNIVERSITY OF HO CHI MINH CITY LE THUY TUYET NGHI FACTORS INFLUENCING JOB SATISFACTION: A CASE STUDY OF GENERATION Z IN WHITE-COLLAR SECTOR IN HO CHI MINH CITY GRADUATE THESIS MAJOR: BUSINESS ADMINISTRATION CODE: 7340101 SUPERVISOR Dr Bui Duc Sinh HO CHI MINH CITY, 2022 i ABSTRACT Job satisfaction is a high priority for the Human Resources workforce since the level of employees’ contentment could lead to higher productivity, profitability, and complete organizational commitment In recent years, most organizations have faced considerable challenges in attracting and retaining employees from Generation Z since they appear to have higher requirements for their jobs compared to their predecessors Thus, the objective of this study is to investigate the factors influencing Generation Z employees working in offices in Ho Chi Minh City Preliminary quantitative research was initially conducted with 50 participants to modify the scales and eliminate unreliable items Subsequently, official data were collected from 300 Generation Z employees in Ho Chi Minh City via an online questionnaire The results reveal seven proposed factors contributing to Generation Z officers in Ho Chi Minh City In which, Salary & Benefits have the most decisive effect on job satisfaction of this age group, while the weakest component is Working environement The study also presents practical implications and further research directions to enrich this aspect of human resources management Keywords: Job satisfaction, Generation Z, Human Resources Management ii DECLARATION I formally declare that I wrote this thesis under the guidance of Dr Bui Duc Sinh; and the findings presented in this thesis are honest and not against ethical issues in conducting research I clearly listed all the literature and sources that I employed while writing this academic research Moreover, I commit that the data collected were confidential and solely used for this thesis I am fully responsible if the violation of this regulation is found in my thesis Author’s signature iii ACKNOWLEDGEMENT Words cannot describe my gratitude to my family and beloved friends who emotionally and mentally supported me whenever I struggled with my thesis This endeavor could not have been possible without their encouragement Besides, I sincerely appreciate every respondent who was willing to participate in the survey so that the data collection process could occur efficiently Eventually, I would like to express my appreciation to Dr Bui Duc Sinh His instructions and constructive advice have helped improve my thesis significantly Without his supervision, this thesis would not have been completed effectively iv TABLES OF CONTENT ABSTRACT i DECLARATION ii ACKNOWLEDGEMENT iii LIST OF ACRONNYMS vii LIST OF TABLES ix LIST OF FIGURES x CHAPTER 1: INTRODUCTION 1.1 Research Statement 1.2 Research Objectives 1.3 Research Questions 1.4 Research Subjects and Scope 1.5 Research Methodology 1.6 Research Significance 1.7 Research Structure .4 SUMMARY OF CHAPTER CHAPTER 2: LITERATURE REVIEW 2.1 Generation Z 2.1.1 Definition of Generation Z .6 2.1.2 Characteristics of Generation Z 2.2 Job Satisfaction 2.2.1 Definitions of job satisfaction 2.2.2 Measures of job satisfaction 2.3 Theories on motivation 10 2.3.1 Abraham Maslow’s Need Theory (1943) .11 2.3.2 Herzberg’s two-factor theory 13 2.3.3 Vroom’s expectancy theory 14 2.4 Previous Studies 15 2.4.1 Domestic Studies 15 v 2.4.2 2.5 Foreign Studies .17 Research Model and Hypotheses 20 2.5.1 Research Model 20 2.5.2 Hypotheses 22 SUMMARY OF CHAPTER .31 CHAPTER 3: METHODOLOGY 32 3.1 Research Process 32 3.2 Research Design 33 3.3 Data Collection 34 3.3.1 Sample Size 34 3.3.2 Sampling method 34 3.3.3 Scale formulation 34 3.3.4 Questionnaire Design 38 3.4 Preliminary quantitative research 38 3.4.1 Preliminary quantitative research process 38 3.4.2 Preliminary quantitative research results 38 3.5 Formal Research 40 3.6 Data Analysis Techniques 42 3.4.1 Descriptive statistics .42 3.4.2 Cronbach’s Alpha Analysis 42 3.4.3 Exploratory factor analysis (EFA) 43 3.4.4 Regression analysis .44 3.4.5 Testing differences based on Controlled Variables 44 SUMMARY OF CHAPTER .45 CHAPTER 4: RESULTS 46 4.1 Descriptive Statistics 46 4.2 Scale Reliability Testing 48 4.3 Exploratory Factor Analysis 51 4.3.1 Factor analysis for the independent variable 51 vi 4.3.2 Factor analysis for the dependent variable 53 4.4 Correlation Analysis 54 4.5 Regression Analysis 55 4.5.1 Tests of Model Fit 55 4.5.2 Regression Coefficients 56 4.5.3 Hypothesis Testing .57 4.6 Testing differences based on Controlled Variables .61 4.6.1 Testing differences in gender 61 4.6.2 Testing differences in income .62 4.6.3 Testing differences in experience 64 4.6.4 Testing differences in specialization 64 4.7 Result discussion .65 SUMMARY OF CHAPTER .67 CHAPTER 5: CONCLUSION .68 5.1 Conclusion 68 5.2 Managerial Implications 69 5.3 Limitations and further research 72 REFERENCES 73 APPENDIX 1: MEASUREMENT SCALES OF OBSERVED VARIABLES .84 APPENDIX 2: QUESTIONNAIRE SURVEY .87 APPENDIX 3: PRELIMINARY RESEARCH RESULTS 92 APPENDIX 4: DESCRIPTIVE STATISTICS .97 APPENDIX 5: CRONBACH’S ALPHA .104 APPENDIX 6: EXPLORATORY FACTOR ANALYSIS (EFA) .108 APPENDIX 7: CORRELATION ANALYSIS 113 APPENDIX 8: REGRESSION ANALYSIS .115 APPENDIX 9: TESTS OF DIFFERENCES 118 vii LIST OF ACRONNYMS Acronyms Meaning SB Salary & Benefits WE Working environment JC Job Characteristics TP Training & Promotion SV Supervisor CW Co-workers WLB JS SPSS SIG ANOVA Work-life Balance Job Satisfaction Statistical Package for the Social Sciences Significance level Analysis of Variance EFA Exploratory Factor Analysis KMO Kaiser-Mayer-Olkin VIF Variance inflation factor JDI Job Descriptive Index MSQ Minnesota Satisfaction Questionnaire JSS Job Satisfaction Survey JDS Job Diagnostic Survey GJS Global Job Satisfaction viii JIG HRM Job in General Scale Human Resource Management APPENDIX 6: EXPLORATORY FACTOR ANALYSIS (EFA) Independent Variables KMO and Bartlett's Test Kaiser-Meyer-Olkin Measure of Sampling Adequacy Bartlett's Test of Sphericity 872 Approx Chi-Square 3939.301 df 406 Sig .000 The result of KMO and Bartlett’s Test The result of Total Variance Explained Total Variance Explained Initial Eigenvalues Extraction Sums of Rotation Sums of Squared Loadings Squared Loadings % of Comp % of Varianc Cumula onent Total e 8.646 29.813 2.454 % of Varian Cumula tive % Total ce Varian Cumula tive % Total ce 29.813 8.646 29.813 29.813 3.007 10.369 10.369 8.463 38.276 2.454 8.463 38.276 2.867 9.887 20.256 1.957 6.747 45.023 1.957 6.747 45.023 2.848 9.819 30.076 1.613 5.562 50.586 1.613 5.562 50.586 2.734 9.427 39.503 1.467 5.059 55.645 1.467 5.059 55.645 2.419 8.343 47.846 1.244 4.288 59.933 1.244 4.288 59.933 2.417 8.334 56.180 1.130 3.898 63.831 1.130 3.898 63.831 2.219 7.651 63.831 932 3.213 67.044 862 2.973 70.017 10 750 2.585 72.602 11 724 2.498 75.099 12 652 2.248 77.347 108 tive % Total Variance Explained Initial Eigenvalues Extraction Sums of Rotation Sums of Squared Loadings Squared Loadings % of Comp onent % of Varianc Cumula Total e Varian Cumula tive % Total 13 637 2.196 79.543 14 582 2.007 81.550 15 577 1.991 83.541 16 540 1.863 85.404 17 513 1.767 87.171 18 443 1.529 88.700 19 403 1.391 90.091 20 397 1.369 91.460 21 385 1.326 92.786 22 343 1.183 93.969 23 323 1.114 95.083 24 293 1.011 96.093 25 271 936 97.029 26 250 862 97.891 27 222 764 98.656 28 207 714 99.369 29 183 631 100.000 % of ce tive % Total Extraction Method: Principal Component Analysis 109 Varian Cumula ce tive % The result of independent factors analysis with Varimax Rotation Rotated Component Matrixa Component WLB4 870 WLB2 857 WLB3 835 WLB1 729 SV3 732 SV5 730 SV2 709 SV4 612 SV1 541 JC3 727 JC1 693 JC2 631 JC4 604 CW3 798 CW1 786 CW4 731 CW2 715 SB4 709 SB3 680 SB5 623 SB2 579 SB1 514 TP4 753 TP2 680 110 Rotated Component Matrixa Component TP3 658 TP1 638 WE1 859 WE2 783 WE3 701 Extraction Method: Principal Component Analysis Rotation Method: Varimax with Kaiser Normalization a Rotation converged in iterations Dependent Variable KMO and Bartlett's Test Kaiser-Meyer-Olkin Measure of Sampling Adequacy Bartlett's Test of Sphericity 858 Approx Chi-Square 562.430 df 10 Sig .000 The result of KMO and Bartlett’s Test The result of Total Variance Explained Total Variance Explained Compone Initial Eigenvalues Extraction Sums of Squared nt Loadings Total 3.10 % of Cumulativ Variance e% 62.068 62.068 111 Total 3.103 % of Cumulativ Variance e% 62.068 62.068 582 11.636 73.704 494 9.878 83.582 425 8.506 92.088 396 7.912 100.000 Extraction Method: Principal Component Analysis The result of dependent factor analysis with Varimax Rotation Component Matrixa Component JS3 823 JS2 800 JS5 795 JS1 770 JS4 749 Extraction Method: Principal Component Analysis a components extracted 112 APPENDIX 7: CORRELATION ANALYSIS Correlations JS JS Pearson Correlation Sig (2-tailed) N SB Pearson Correlation 300 SB WE Pearson Correlation JC 000 000 000 300 300 300 300 300 300 300 TP 300 306** 509** 534** 466** 367** 355** 000 000 000 000 000 000 300 300 300 300 300 300 404** 408** 410** 359** 181** 300 000 000 N 300 300 Pearson 000 000 000 000 002 300 300 300 300 300 589** 509** 404** Sig (2-tailed) 000 Correlation SV 300 N 300 300 Sig (2-tailed) 000 000 000 000 N 300 300 300 Pearson Correlation 503** 517** 314** 253** 000 000 000 000 300 300 300 300 638** 534** 408** 503** 300 300 526** 385** 328** 000 000 000 300 300 300 590** 466** 410** 517** 526** Sig (2-tailed) 000 000 000 000 000 N 300 300 300 300 300 WLB 000 000 Correlation CW 000 Sig (2-tailed) 000 Pearson SV 000 454** 306** 300 TP 000 695** 300 JC 695** 454** 589** 638** 590** 490** 498** Sig (2-tailed) 000 N WE 113 300 402** 273** 000 000 300 300 CW Pearson Correlation 490** 367** 359** 314** 385** 402** Sig (2-tailed) 000 000 000 000 000 000 N 300 300 300 300 300 WLB Pearson Correlation 300 268** 000 300 300 498** 355** 181** 253** 328** 273** 268** Sig (2-tailed) 000 000 002 000 000 000 000 N 300 300 300 300 300 300 300 ** Correlation is significant at the 0.01 level (2-tailed) 114 300 APPENDIX 8: REGRESSION ANALYSIS Model Summaryb Model R R Square 837a Adjusted R Std Error of Durbin- Square the Estimate Watson 700 693 3318 1.896 a Predictors: (Constant), WLB, WE, CW, JC, SB, SV, TP b Dependent Variable: JS ANOVAa Model Sum of df Mean Squares F Square Regression 75.068 10.724 Residual 32.151 292 110 107.219 299 Total Sig 97.396 000b a Dependent Variable: JS b Predictors: (Constant), WLB, WE, CW, JC, SB, SV, TP Coefficientsa Model Unstandardized Standardized Coefficients Coefficients B Std t Sig Collinearity Statistics Beta Tolerance VIF Error (Constant) -.929 217 - 000 4.275 SB 347 045 324 7.766 000 590 1.695 WE 108 044 092 2.465 014 730 1.370 JC 154 045 142 3.418 001 594 1.683 TP 174 043 172 4.006 000 557 1.796 115 Coefficientsa Model Unstandardized Standardized Coefficients Coefficients B Std t Sig Collinearity Statistics Beta Tolerance VIF Error SV 141 044 133 3.177 002 584 1.713 CW 120 038 118 3.187 002 744 1.344 WLB 158 027 206 5.874 000 833 1.201 a Dependent Variable: JS Histogram 116 The normal probability plot Scatter plot 117 APPENDIX 9: TESTS OF DIFFERENCES ONE-WAY ANOVA BY GENDER Descriptives N Mean Std Deviation Std Error Male 137 4.326 6092 0521 Female 163 4.198 5854 0459 Total 300 4.256 5988 0346 Test of Homogeneity of Variances Levene Statistic df1 df2 Sig .013 298 910 ANOVA Sum of df Mean Squares Between F Sig Square 1.220 1.220 Within Groups 106.000 298 356 Total 107.219 299 Groups 118 3.429 065 ONE-WAY ANOVA BY INCOME Descriptives N Below 5M VND Mean Std Deviation Std Error 52 3.888 8140 1129 5M to below 10M VND 108 4.265 4921 0473 10M to below 15M VND 80 4.367 5136 0574 Above 15M VND 60 4.410 5405 0698 300 4.256 5988 0346 Total Test of Homogeneity of Variances Levene Statistic df1 df2 Sig 7.064 296 000 Robust Tests of Equality of Means Welch Statistica df1 df2 Sig 5.838 135.287 001 a Asymptotically F distributed 119 Post-hoc test by Income Multiple Comparisons (I) (J) Income Income Mean Std Difference Error Sig 95% Confidence (I-J) Interval Lower Upper Bound Bound -.3764* 0970 000 -.567 -.185 -.4790* 1024 000 -.681 -.278 Above 15M VND -.5215* 1089 000 -.736 -.307 5M to Below 5M VND 3764* 0970 000 185 567 below 10M to below 15M -.1027 0848 227 -.270 064 10M VND VND Above 15M VND -.1452 0925 118 -.327 037 10M to Below 5M VND 4790* 1024 000 278 681 below 5M to below 10M 1027 0848 227 -.064 270 15M VND VND Above 15M VND -.0425 0982 665 -.236 151 Above Below 5M VND 5215* 1089 000 307 736 15M 5M to below 10M 1452 0925 118 -.037 327 VND VND 0425 0982 665 -.151 236 Below 5M to below 10M 5M VND VND 10M to below 15M VND 10M to below 15M VND * The mean difference is significant at the 0.05 level 120 ONE-WAY ANOVA BY EXPERIENCE Descriptives N Mean Std Deviation Std Error Below year 109 4.169 6527 0625 to below years 140 4.279 5909 0499 years to below years 27 4.252 5452 1049 Above years 24 4.525 3166 0646 300 4.256 5988 0346 Total Test of Homogeneity of Variances Levene Statistic df1 df2 Sig 2.233 296 085 ANOVA Sum of df Mean Squares Between F Sig Square 2.637 879 Within Groups 104.582 296 353 Total 107.219 299 Groups 121 2.488 061 ONE-WAY ANOVA BY SPECIALIZATION Descriptives N Mean Std Deviation Std Error Marketing 70 4.106 6765 0809 Supply Chain & Logistics 38 4.237 6474 1050 Finance 43 4.353 5500 0839 E-commerce 33 4.461 4987 0868 Human Resources 50 4.260 5718 0809 Information Technology 14 4.371 4565 1220 Sales/Business 29 4.338 4539 0843 Others 23 4.087 6924 1444 Total 300 4.256 5988 0346 Development Test of Homogeneity of Variances Levene Statistic df1 df2 Sig 1.248 292 277 ANOVA Sum of df Mean Squares Between Groups F Sig Square 4.424 632 Within Groups 102.795 292 352 Total 107.219 299 122 1.795 088 ...MINISTRY OF EDUCATION AND TRAINING THE STATE BANK OF VIET NAM BANKING UNIVERSITY OF HO CHI MINH CITY LE THUY TUYET NGHI FACTORS INFLUENCING JOB SATISFACTION: A CASE STUDY OF GENERATION Z IN WHITE- COLLAR. .. topic: ? ?Factors influencing job satisfaction: A case study of Generation Z in white- collar sector in Ho Chi Minh city? ?? to explore and examine factors affecting this new generation 1.2 Research Objectives... study proposes a model of factors contributing to job satisfaction of Generation Z in Ho Chi Minh City Quantitative technique involves collecting and analyzing numerical data by undertaking a