Improving workplace stress management in hoang duong tc co

NATIONAL ECONOMIC UNIVERSITY BUSINESS SCHOOL Duong Hoang Duc Huy IMPROVING WORKPLACE STRESS MANAGEMENT IN HOANG DUONG T&C CO LTD Bachelor of Business Administration in English (E-BBA) Thesis HANOI, 2019 ACKNOWLEDGEMENT First and foremost, I would like to give my sincere thanks and deepest gratitude to my instructor, Prof Dr Le Thi Bich Ngoc for her time, guidance and support during this research Next, I want to give my thanks to the Director of Hoang Duong T&C Co Ltd and all the employees of the company for the support in my internship, creating chances for me to learn and understand many new things, widen my view on numerous aspects Also I’m extremely grateful for the flexibility in work, giving time to finish this research Thirdly, my thanks to all my family and friends for positive encouragements and supports within my time carrying on with the study Without all of support, the research on this topic cannot be completed Last, I would like to send a big thank you to those at the BSNEU including the project coordinator, Mrs Nguyen Thu Hang and all of my teachers for all my time here and all the memories TABLE OF CONTENTS ACKNOWLEDGEMENT .1 ABREVIATIONS LIST OF FIGURES LIST OF TABLES CHAPTER 1: INTRODUCTION 1.1 Rationale 1.2 Research Objectives 11 1.3 Research Questions .11 1.4 Research methodology 11 1.4.1 Research process .11 1.4.2 Data collection 13 1.5 Research scope 15 1.6 Research structure 15 CHAPTER 2: THEORETICAL BACKGROUND ON WORKPLACE STRESS MANAGEMENT 16 2.1 Definition of Workplace stress .16 2.1.1 Concept of Workplace stress 16 2.1.2 Causing of Workplace stress 17 2.1.3 Effects of Workplace stress 18 2.1.4 Signs of Workplace stress .19 2.2 Definition of Workplace stress management 20 2.2.1 Concept of stress management .20 2.2.2 Components of Workplace stress management 21 2.2.3 Stress management treatment 23 2.3 Indicator reflecting efficiency of Workplace stress management 26 Chapter 3: Current situation of Hoang Duong T&C Co Ltd, 30 3.1 Overview of Hoang Duong T&C Co Ltd 30 3.1.1 Organizational structure of Hoang Duong 31 3.1.2 Performance of the company 34 3.2 Workplace stress at Hoang Duong 34 3.3 Workplace stress management at Hoang Duong 38 3.3.1 Stress management prevention .38 3.3.2 Stress management treatment 40 3.3.3 Advantages of Hoang Duong stress management 57 3.3.4 Disadvantages of Hoang Duong stress management 58 Chapter 4: Solution for manager to improve Workplace stress management at Hoang Duong T&C Co Ltd, 59 4.1 Strategic orientation of Hoang Duong 59 4.2 Solution to improve stress management .60 4.2.1 Solution 1: Preventative stress management programs 60 4.2.2 Solution 2: Managing way of stress management 64 LIST OF REFERENCES .68 APPENDIXES .70 ABREVIATIONS Hoang Duong T&C Co Ltd: Hoang Duong Trading and Contracting Limited Company HSE: Health and Safety Executive MS: Management Standards PSS: Perceived Stress Scale DASS: Depression Anxiety Stress Scales GHQ: General Health Questionnaire SRRS: Social Readjustment Rating Scale LIST OF FIGURES Figure 1.1: Process of researching 12 Figure 2.1: Stressors of Occupational Stress 17 Figure 2.2: Management Standard process 27 Figure 3.1: Hoang Duong organization structure 32 LIST OF TABLES Table 1.1: Summary of In-depth Interview 13 Table 1.2: Scoring of survey 14 Table 2.1: Effects of workplace stress 19 Table 2.2: Stress management programs classification 22 Table 2.3: Organization workplace stress intervention 24 Table 3.1: Hoang Duong department activities .33 Table 3.2: Perceived Stress Scale 10 questions .35 Table 3.3: Stress level of Hoang Duong 37 Table 3.4: Description of statistical data 37 Table 3.5: MS percentile scoring 42 Table 3.6: Expectation average score of Management Standards 43 Table 3.7: Mean scores of Management Standards .45 Table 3.8: Mean score of Demands Standard 47 Table 3.9: Mean score of Control Standard 48 Table 3.10: Mean score of Manager Support Standard 49 Table 3.11: Mean score of Colleagues Support Standard 50 Table 3.12: Mean score of Relationships Standard 51 Table 3.13: Mean score of Role Standard 52 Table 3.14: Mean score of Changes within the organization Standard 53 Tables 4.1: Effectiveness and limitation of short-term strategies 59 Tables 4.2: Types of preventive programs for stress .60 EXECUTIVE SUMMARY Since the beginning of the term stress was created, it has been a significant problem, posts threat to the human society due to negative effects on physicality and mentality of a person And in the modern days, where the world is getting more complicated everyday, life is becoming harder and harder, mental treatments is considered to be a vital part people daily routines For organization, stress has always been vital to businesses, as effects of it have influence on all aspects of the organization It links directly to performance, increasing of cost, employees’ loyalty and many more So because of that, a better consideration for the problem and putting more focus on it would be extremely beneficial to business, on operating and developing view The goal of this study is the improvement of stress management of Hoang Duong, which haven’t been developed clearly through out operation of the company By comparing methods of employer in stress management and reliable researches on stress and management methods, the problem was addressed specifically and easier to approach for subjects of the study targeted in To further support the goal of this research, through the guide of Management Standard by UK Health and Safety Executive’s, design to define effective way of stress management, Hoang Duong stress management strategies are assessed by four standards: employees demands and control of the job, support of surrounding environment with relationships in company, as well as their knowledge of own positions, own role and the attitude toward organizational changes In term of data collection, primary data are gathered by in-depth interview with the employer of Hoang Duong, the director, also, a survey of stress managing is given to all the employees of Hoang Duong Population of the survey is all personnel of the company due to the fact that Hoang Duong is a small owned company The following step is comparing the aspects of Hoang Duong stress managing style to the management standard, using mean value and other statistical method After collecting data and analyzing, the result had shown there are level of stress of Hoang Duong staffs is pretty low but comparing Management Standards, the gaps between expectation of indicators to the numbers of gathered data for employees’ survey At the moment, implementing of stress management seems to prove its effectiveness, but only for the short term as managing process only happens when there is a high level stress point in the organization From the study, there are some recommendations to improve managing style on aspects to meet management standards Having a better stress management, preventing and managing stress, the problem will not be a menace for the organization in the future, as nature of construction industry deliver a lot of pressures to people who working within it With appropriate stress management programs, a more detailed way to approach the issue, Hoang Duong will have a better foundation for the incoming changes of the system CHAPTER 1: INTRODUCTION 1.1 Rationale Businesses have many major concern, and workplace stress is one of them It has the effect on all aspects of the organization Personnel, performances, increasing on directly and indirectly costs, all of this under the influence of stress Aware of the connections of workplace stress on businesses, stress management was created and implemented to subdue the impacts of stress at work For years, managing stress by strategies and programs has proved to deliver a good sign on reducing stress, giving benefits and lowering the costs of organization And at the present where stress, particularly workplace stress is a big global concern, management on it is now more important than ever This research target, Hoang Duong is a company working in construction industry, a very harsh industry compares to others Contrasts to the growth of the economic of Vietnam, the particular industry is predicted to slow down since it hit it highest growth percentage in 2015 There are many reasons that affected the economic of Vietnam and mainly because Vietnam actively participates in globalization with many successful economic agreements and by the year of, construction industry had reached the highest point than it ever did, so it could easily predict that it couldn’t be able to keep the trend of growing As a matter as fact, the growth percentage of following years wasn’t keep up with 2015 This year, 2019, has the same result as forecasted in 2018 In 2019, the construction industry could be facing the roughest year due to the trading war of China and America, which increases price of inputs of many company, the changes of Vietnam to deal with economic difficulties and with the nature of the industry, it is a normal thing that many companies are facing a hard time on their journey To sum up the situation, construction is a tough industry, fill with unpredictable risks and put a lot of pressure on most of company working in it At the moment, while participating in a rough industry, Hoang Duong T&C Co Ltd is facing main obstacles First is the stress management of the company The nature of the industry: unpredictable and fluctuated, giving employees hard times and sometimes high level of stress occurs At the moment, there isn’t a properly developed program for stress management for Hoang Duong There are some drawbacks for that due to stress relates to many company indicators, for example, the company high turnover rate in the year 2019, over 50% at the moment, double the turnover rate of Vietnam of 24%, predicted by Anphabe, an established company in the employment sector, but if to be compared, the number reflects the ... company working in it At the moment, while participating in a rough industry, Hoang Duong T&C Co Ltd is facing main obstacles First is the stress management of the company The nature of the industry:... improve Workplace stress management at Hoang Duong T&C Co Ltd, 15 CHAPTER 2: THEORETICAL BACKGROUND ON WORKPLACE STRESS MANAGEMENT 2.1 Definition of Workplace stress 2.1.1 Concept of Workplace stress. .. structure of Hoang Duong 31 3.1.2 Performance of the company 34 3.2 Workplace stress at Hoang Duong 34 3.3 Workplace stress management at Hoang Duong 38 3.3.1 Stress management