Chuyên đề tốt nghiệp: A Study on Some Factors Contributing to Employees’ Job Satisfaction of MSH Group

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NATIONAL ECONOMICS UNIVERSITY FACULTY OF FOREIGN LANGUAGES DEPARTMENT OF BUSINESS ENGLISH

HOANG THU HIEN

A STUDY ON SOME FACTORS CONTRIBUTING

TO EMPLOYEES’ JOB SATISFACTION OF MSH GROUP

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Hoang Thu Hien - 11196130 - Business English 61B

NATIONAL ECONOMICS UNIVERSITY FACULTY OF FOREIGN LANGUAGES DEPARTMENT OF BUSINESS ENGLISH

HOANG THU HIEN

A STUDY ON SOME FACTORS CONTRIBUTING

TO EMPLOYEES’ JOB SATISFACTION OF MSH GROUP

Hanoi, September 2022

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3 Purpose and Scope of WOTFE d0 G5 S99 %9 994 9959994099 98094899968069.986959994.980996 2 4 Sources and method of data €ỌÏ€CfÏOHA 2 5-55-5555 5 s91 1950959565085 8.6 3 5 Research Question << SỰ TH 0 0000004 CHAPTER 1: LITERATURE REV|IEY HH HH HH ung 000 056 5 1.1 Definition of Job sdfiSƒQ(CÍÏOHH so < 5= << < v9 ng ng” 5 1.2 Factors affecting Job SŒfISƒ((CÍÄOHH <5 << si HH ng 5 1.2.1, Personal DACKgVOUNA nan ốố.ốốốỐỐằẦằẦ 6 1.2.2 Working CONCItIONS 7n ốốe 7 1.3 Job Satisfaction theOrieS sccssccsssssssssrscsssssssscsscesssssssssnsssssssssssssssesssessssssssennsees 10

1.3.1 Maslow’s Hierarchy of NC@dS cccccccsccescssscescesscsscesecsscesecseceseeseceseeaeceseeseeeneeaeens 10 1.3.2 Herzberg s TWO-FactOr TÍỂOFY SG kg trệt 13 1.4 Previous studies On Job Sdf[SƒQCÍÏOHH G5 0.9.9 Y9 9030 9851 18961886 59 16 1.5 Research FTITL€WOTFÍV 5 <5 < << THỌ KH HT Hi HH nu 19 CHAPTER 2: INTRODUCTION OF MSH GROUP s5-<5<ss<se<s 20 2.1 Background IHOTIH(ÍÏOHH Tnhh TH HH HH nh nh Hiện 20 2.2 The vision, mission And DÏÍÏOSOJDÏIV S5 <5 << HH HH ngư 21 2.3 OF ZANIZALIONAL SITUCIUTE ccceccsccsesssccsscesccsssssscssssssesesesssssssessscesessssssesseseeessesoeesoes 21 2.4 Features of NUman F€SOLITCW 5< «Si ng 23

CHAPTER 3: RESEARCH METHODOLOGY 5-55=5s<ss=seesess 26

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CHAPTER 4: FINDINGS & ANALYSIS cccssscsssscssssssssscessssssnssssnssssssseeses 29 4.1 Demographic Characteristics sccsccesscssssssssssssssssssssssssscssssssscssssssnsssscssnseenssees 29 4.2 Level of job satisfaction at MSH Group and factors contributing to it 31 4.3 Job satisfaction levels classified by demographic characterisfics - 41 CHAPTER 5: RECOMMENDA TION 5 <0, 47 CONCLUSION

REFERENCE APPENDICIES

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LIST OF FIGURES

Figure 1.1: Relationship between personal background and job satisfaction factors 10 Figure 1.2: Maslow’s Hierarchy of Needs cccccsccesesssesseeseeeeceseeseceeeeseceeeeseeseenseens 11 Figure 1.3: Job satisfaction model based on Maslow’s hierarchy of needs 13 Figure 1.4: Herzberg’s Two-Factor Principles - -+++sx+s++sxssexeersseesee 15 Figure 1.5 Maslow’s Hierarchy of Needs & Herzberg’s Two Factor Model 16 Figure 2.1: Subsidiary companies of MSH GTroup - ssss++sskkssiesseeee 20 Figure 2.2: Organizational structure of MSH Group ceeceecceeeeceeeeeeeeeeeeeeeeteees 21 Figure 4.1: Gender of participants - 5 G3113 9 nh nh ng nh ng nh 29 Figure 4.2 Age of DaT{ICIDATIS - G2119 1119111911101 1H TH HH TH rệt 30 Figure 4.3 Level of education of participants - 5 5 + ssvEsseseesseeske 30 Figure 4.4 Length of employment of parfICIDATIES 5 5 xxx ssssreersre 31 Figure 4.1 Level of job satisfaction of MSH employees -. .ccccces 32

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LIST OF TABLES

Table 2.1: Features of human resources of MSH Group from 2019 — 2021 23 Table 4.1: Factors contributing to job satisfaction of MSH employees Error! Bookmark not defined.

Table 4.2 Distribution table of Work 1{S€ÏŸ - G5 1n ng ng nưệt 32 Table 4.3 Distribution table of CompensafION - s5 + Sskkksseesseere 33 Table 4.4 Distribution table of Career Advancement - -«c<ss++ecesessee 34 Table 4.5 Distribution table of R€COBTIEIOH - 5 5 1011311191 E91 91 re 35 Table 4.6 Distribution table of Fringe Benefits - - - 5c + << <++<ccsseesseess 36 Table 4.7 Distribution table of Working environmei( - ‹-+-s<++<s++<sx++ex++ 36 Table 4.8 Distribution table of Supervisors & COWOTKTS - 5c << ++<cs+ 37 Table 4.9 Distribution table of Self esteem ee eeseeeceeeeseceeeeteceeeeseceeeeseeseesneens 39 Table 4.10 Distribution table of Company policy and administrafion - 39 Table 4.11 Distribution table of the most important factor to enhance employee job SAtiSfACHON 00017275 41 Table 4.12 Descriptive statistics of Job Satisfaction levels characterized by Gender

Table 4.13 Descriptive statistics of Job Satisfaction levels characterized by Age 43 Table 4.14 Descriptive statistics of Job Satisfaction levels characterized by

Education backgỹTOUn - - << + + E91 E93 E911 1 9v 1H HH ng 44 Table 4.15 Descriptive statistics of Job Satisfaction levels characterized by Length Of Employment 01117277 3 45

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1 Research introduction

Due to regionalization and globalization trends, there is more intense rivalry among enterprises In order to stand solid and grow in the market, enterprises must establish competitive advantages and affirm their position in the market The evolution of the business world has shown that the only true competitive advantage is people.

Today, with the view that people are the most valuable asset of every business, business managers have realized that increasing employees’ happiness is the first step

in ensuring the success of the company When employees are satisfied, they work more productively and efficiently But in fact, there are a lot of individuals who still feel unsatisfied with the work they are doing According to a survey conducted by CareerBuilder in 2019, one of the top global employment sites, employee unhappiness is rising: One in four people is not feeling pleased with their job Over the past two years, the number of such dissatisfied people has climbed by 20% on average Within the next two years, six out of ten respondents plan to quit their current jobs and look for new ones.

The level of job satisfaction varies among different companies or organizations But it can’t be denied that employee job satisfaction is one of the most significant factors contributing to a company’s success and competitiveness (Miller,

1960) In determining whether employees are content and happy in fulfilling their work, the job satisfaction of employees should be put under attention and evaluated on a regular basis.

2 Rationale

In the increasingly fierce business environment, every business tries to grow and maintain a competitive advantage to dominate the market Human resources are one of the most important aspects that contribute to competitive advantages The significant changes in the business world have proven that human capital will be a distinctive and long-lasting resource that gives companies a competitive edge Therefore, people are the only long-lasting benefit Companies are under greater pressure than ever to adapt and actively innovate with new technology, new goods,

and new services to satisfy the rising demands of customers.

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At the same time, the organization also needs to attract, train and retain the most qualified employees According to the Human Resource Department, MSH Group Joint Stock Company is a reputable real estate enterprise with nearly 800 employees With a team of well-trained staff with reasonable compensation and full benefits, they have brought great revenue to help the company become a leading enterprise in Vietnam Currently, the company is paying great attention to its human resources because it is a factor that creates competitive advantages and helps the company achieve the set goals To be able to attract and retain a high-quality workforce, the company must understand the factors that affect employee job satisfaction, and then have appropriate policies to make employees happy and satisfied This is the reason why I chose the topic “A Study on Some Factors Contributing to Employees’ Job Satisfaction of MSH Group”

3 Purpose and Scope of work

e Purpose

The purpose of this thesis is to identify the current level of job satisfaction of MSH Group employee, thus investigating factors that contribute to job satisfaction, ie work, compensation, career advancement, recognition, fringe benefits, working environment, supervisors & coworkers, self esteem and company policy & administration Job satisfaction is a concept of measuring the psychological comfort of employees Many experts believe that job satisfaction trends can affect the labor market and employee behavior Besides, the study also analyzes the relationship between job satisfaction level with demographic characteristics, ie gender, age, education level and length of employment The thesis will provide relevant messages and information to the concerned employers that will further help them to enhance employees’ satisfaction levels depending on the conclusions drawn from this study and ultimately increase their productivity Thus, the significance of this study is that it helps to gauge the exact sentiment of the employee body so that strategic and tactical changes can be put into motion by offering valuable suggestions to raise the level of satisfaction

e Scope of work

The present study aims to assess the level of job satisfaction of employees working in the Head Office of MSH Group The research participants were full-time

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employees who belong to different departments such as Legislation, IT, Human Resources, Marketing, R&D, Finance & Accounting and Sales Department The participants were asked to respond to a set of questions in the questionnaires which were distributed in February 2011 The participants were asked to respond to a set of questions in the questionnaires which were distributed in October 2022.

4 Sources and method of data collection

e Primary data

Primary data for this study is deduced from the survey and observation at MSH Group A questionnaire is a tool to gather information, including a set of questions with certain logic The questionnaire is the means used to communicate between the researcher and the respondents 120 employees will take part in the survey to collect their opinion and attitude about the level as well as factors affecting job satisfaction The scale of these questions is like a 5-point Likert scale:

Scale 5: Totally agree/ Very high Scale 4: Agree/ High

Scale 3: No comment/ Normal Scale 2: Disagree/ Low

Scale 1: Totally disagree / Very low

Multiple choice questions are included in the questionnaire to allow participants to choose one or more options from a list of answers Besides, there are also open-ended questions that cannot be answered with a "yes" or "no" response, or with a predetermined set of responses Instead, participants can provide answers in their own words It will be useful when asking for recommendations and solutions to some problems Surveys given by researchers will be delivered to MSH Group employees through Zalo, Facebook

and Viber.

In addition, participants will proceed with observation with the purpose of

building stereotypes and theories based on individuals' opinions The personnel at MSH Group provided me with many comments, suggestions, and feedback throughout my internship.

e Secondary data

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The secondary data is collected from the Human Resource Department of MSH Group Besides, information also included previous studies on job satisfaction, related articles, and textbooks.

5 Research question

In order to achieve the research purposes, the study focuses on finding the answers to the following questions:

> What is the current job satisfaction of MSH Group employees?

> What are the factors contributing to the employee satisfaction of MSH Group?

> What are some suggestions to increase the job satisfaction of employees?

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CHAPTER 1: LITERATURE REVIEW

1.1 Definition of job satisfaction

Job satisfaction or employee satisfaction is one of the most discussed topics in the field of organizational psychology According to Miller (1960), employee job satisfaction is one of the most significant factors contributing to a company’s success and competitiveness.

Kusku (2003) stated that employee satisfaction reflects the degree to which individual needs are met and valued by other employees According to Spector (1997), job satisfaction is simply how people feel about their jobs and aspects of their work.

Hoppock (1935) said that employee satisfaction is the combination of psychological, physiological, and environmental satisfaction that makes a person feel content with

their job.

Ellickson and Logsdon (2001) took a different approach, arguing that job satisfaction of employees is generally defined as the degree to which employees enjoy their jobs This attitude is based on the employee's perception (positive or negative) about their job or working environment In short, as long as the working environment can meet the needs, values and personalities of employees, the level of satisfaction will be higher.

Meanwhile, according to Smith in 1983, job satisfaction is defined as the feeling that employees feel about their job Weiss (1967) defined job satisfaction as an attitude about work expressed by employees' feelings, beliefs, and behaviors Gruneberg (1979) concluded that since people spend a lot of their time at work, understanding the factors related to their job satisfaction plays a key role in improving their current job satisfaction

Therefore, employee satisfaction can be summarized as the fulfillment of human

needs and wants in the working environment When these needs are properly met,

employee satisfaction will increase and this will impact profitability in the service profit chain.

1.2 Factors affecting job satisfaction

There are 2 main factors that contribute to job satisfaction, namely personal background and working conditions

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1.2.1 Personal background

Numerous studies have shown that demographic characteristics of employees such as gender, age, level of education, and length of employment affect their job satisfaction in various and complex ways.

1.2.1.1 Gender

According to Schultz and Schultz (1994), there was no discernible pattern of variation between male and female employees' ratings of job satisfaction Aj-Ajmi (2006) investigated the impact of gender on employees’ perceptions of their jobs'

happiness and organizational commitment and discovered no gender-related

differences that were statistically significant However, after examining the disparities in the levels of both genders' job satisfaction Clark (1997) discovered that female employees in Britain had a higher degree of job satisfaction than male workers

1.2.1.2 Age

One of the key elements that affects job satisfaction is age The majority of studies show that older workers tend to be more satisfied and content with their occupations According to research by Lee and Wilbur (1985) on the relationship between age and job satisfaction, job satisfaction is correlated with age In comparison with younger employees, older employees expressed greater satisfaction with the extrinsic qualities This was in line with Thavornranart's study (2009) on the job satisfaction levels of Benchmark Electronics (Thailand) Inc employees, which discovered that the employees’ job satisfaction levels varied according to their age level People get older, move up the career ladder and get better positions They also sort through different alternative careers and find the one that better suits their talents and abilities.

1.2.1.3 Level of education

According to Howard and Frink (1996), employees with higher levels of education have better career opportunities and possibilities than those with lower levels of education Numerous studies have examined how education affects job satisfaction In the study conducted by Tiengtrakarnsuk (2008), it was found that the employees with Bachelor’s Degrees were satisfied with their job at a moderate level while the ones with Master’s Degree were satisfied with their job at a higher level.

1.2.1.4 Length of employment

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Longevity of employment refers to employee’s seniority, which can lead to higher compensation Employees who have been working at the company for a long time are often easy to get used to their working environment They also know how to access additional resources in their workplace These workers, therefore, tend to be more content with their jobs Those who have a shorter length of service may be less dedicated to the company and can easily switch to another job McDaniel and Hunter (1988) said that the older he gets, the more job experience he has In other words, long-term experienced employees have a more serious attitude and loyalty toward their careers with a higher level of job satisfaction.

1.2.2 Working conditions

In addition to personal background, employees’ job happiness and discontent are also influenced by working conditions The majority of studies examining job satisfaction focus on various characteristics of the working conditions that workers encounter The major factors leading to job satisfaction could be identified as: the work itself, compensation, career advancement, recognition, fringe benefit, working environment, supervisor & coworker, self-esteem, and company policy and administration.

1.2.2.1 Work itself

The first thing that determines whether a person was content or not with their job is the work itself There will be considerable pleasure with the work if the

employees enjoy it and find it interesting Generally, work can be recognized as happy, satisfying, and productive as long as it includes the following elements: workers can engage in different skills, workers understand their job thoroughly, workers have their own rights and responsibility for all working decisions.

Additionally, a challenging job will attract attention and require the ability to learn

new information, requiring more work If the job provides opportunities for achievement, employees can manage their own workflow and work statistics by

themselves, which will raise work requirements.1.2.2.2 Compensation

Compensation is considered as one of the most important elements contributing to job satisfaction It includes all the money received by the employees including base

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salary, allowances, bonuses, commissions, and other monetary benefits arising from their current job.

Compensation is utilized as a tool to satisfy the individual needs of employees, therefore a suitable salary and bonus can improve worker’s satisfaction Besides, the remuneration should be fair and equal among job of the same type with the same qualifications.

1.2.2.3 Career advancement

Career advancement is an opportunity for advancement in ranks or position, fairness and principles in consideration of promotion greatly affected the job satisfaction of workers because when working, all workers expect that they will be considered for promotion by their superiors.

1.2.2.4 Recognition

Recognition 1s regarded as the approval of superiors and colleagues It should be taken into consideration if companies want to enhance satisfaction and content

among workers Employees will gain job satisfaction through recognition as long as their success is recognized, and their achievements is promoted Management should encourage people to show their potential abilities and support those who are brave enough to do so.

1.2.2.5 Fringe benefits

Fringe benefits are additional perks offered to employees in addition to their stated salaries for performing particular services Benefits including pension, allowances, healthcare, holidays, and paid time off are what employees expected from their jobs and are essential to creating job satisfaction.

1.2.2.6 Working environment

The working environment refers to the actual situation of the workplace

including the facilities for the job such as environmental hygiene, workplace safety,

machinery, equipment, desks, chairs, meeting rooms, sound, light, etc Employees are

generally content with their physical surroundings as long as they are safe and

pleasant The majority of workers also place high importance on rest time, location, workplace configuration and cleanliness These are the factors that create feelings of productivity and happiness at work.

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1.2.2.7 Supervisors and coworkers

Supervisors and coworkers were other factors that affect job satisfaction According to Ehlers (2003), the job content can be raised by the ease and frequency of communication with supervisors Meanwhile, timely support from supervisors can also have a positive impact on employee happiness

For most occupations, employees spend more time with their coworkers than with their supervisors Job satisfaction is also influenced by the coworker relationships of the employees When building relationships with superiors, employees also need the help of coworkers Colleagues who have knowledge and expertise will make employees feel happy and passionate about their work.

1.2.2.8 The self-esteem

As stated in the research by Baron (1991), self-esteem refers to how employees evaluate their work, and how situations and work experiences affect them The attitude can be positive or negative depending on the individual’s perspective People with high levels of self-esteem or positive self-image seem to be happier and more content at work.

1.2.2.9 Company policy and administration

These are other critical factors contributing to job satisfaction It concerns employees’ perceptions of the adequacy or inadequacy of management — such as rules, regulations, poor communications, and lack of authority delegation within an organization Besides, it is necessary to have appropriate policies in salary, allowances, or performance evaluation criteria to avoid unsatisfactory cases.

We can see that employees' satisfaction is affected by the mentioned working conditions, including work itself, compensation, career advancement, recognition, fringe benefit, working environment, supervisors and coworkers, self-esteem, and company policy and administration As long as companies satisfy both the physiological and psychological needs of their employees, there will be more positivity in the workplace and increased productivity Otherwise, less satisfaction

will cause negativity The following figure illustrates the relationship between

personal background and job satisfaction factors:

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Personal background Job satisfaction factors

Gender Work itself

Age E—> Compensation

Level of education Career advancement Length of employment Recognition

Fringe benefit

Working environment Supervisor & coworker Self esteem

Company policy & administration Figure 1.1: Relationship between personal background and job satisfaction

1.3 Job satisfaction theories

1.3.1 Maslow’s Hierarchy of Needs

Maslow’s hierarchy of needs was proposed by Abraham Maslow in 1943 We can see that Maslow's hierarchy of needs is described in the shape of a pyramid with the greatest and most basic needs at the bottom, and moving hierarchically up to higher-level needs According to the need hierarchy theory, people develop in a sequence from “lower order” to higher order” needs In other words, the need of individuals should be satisfied at a ground level before they aspire to the next level of the hierarchy.

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ep, clothing, reproduction

Figure 1.2: Maslow’s Hierarchy of Needs

Source: Simply Psychology, 2007

The five levels of Maslow’s Hierarchy of needs involve (1) Physiological needs, (2) Safety needs, (3) Love or belonging needs, (4) Esteem needs and (5) Self-actualization needs.

The most fundamental and important needs that must be met for humans to survive are their physiological demands Physiological needs include air, food, water, breathing, clothing, reproduction, etc In working conditions, the organizational factors that meet these demands might be viewed as adequate payment and comfortable work.

When people have had their basic needs met, these needs no longer control their thoughts and actions Therefore, they will have higher needs at the second level of Maslow’s hierarchy The needs start to become a bit more complex At this level, the needs for security and safety become primary, including security, resources, stability, health, and property In terms of organizational conditions, a comfortable environment, fair rules, job security, respectable position, and health insurance are all examples of factors satisfying these requirements

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The next level in Maslow’s Hierarchy is social or belonging needs They include love, interaction, affection, friendship and companionship Friendly and encouraging supervision, opportunities for teamwork, and opportunities for workplace interaction are organizational elements that meet these demands.

The fourth level in Maslow’s Hierarchy is esteem needs When individuals are satisfied with the lower three demands, the need for self-esteem begins to play a more prominent role in driving behavior These requirements relate to respect, status, personal values, strength, freedom and self-esteem People prefer to sense that they are valued by others and feel that they are contributing and giving their best to the world The organizational factors that satisfy these needs are the spirit of achievement, responsibility, awards and promotions People with self-esteem seem to feel more confident and comfortable working with their colleagues In contrast, employees who lack self-esteem may have feelings of inferiority in the workplace.

Self-actualization needs are placed on the highest level of the hierarchy They drive an individual to become what he or she is capable of becoming They include personal growth, maximum skills, talents, potential, and self-fulfillment The organizational conditions that provide self-actualization include absorbing jobs with the potential for creativity and growth, risk taking, high achievement, and personal progression.

In summary, Maslow’s Hierarchy of Needs Model argues that people work to satisfy their physiological needs first, then their safety needs, and so on, up along the “needs ladder” In general, they are motivated by the lowest level of needs that remain unsatisfied However, needs at one level are not necessary to be completely

satisfied before the needs at the next level are satisfied, and a person may be motivated primarily by social needs However, any physiological and safety needs that remain unsatisfied are also important According to Pride (2009), Maslow’s hierarchy of needs is regarded to be useful when looking at employee motivation The below figure shows how the Maslow’s hierarchy-of-needs model (left pyramid) can

be translated into a job satisfaction model (right pyramid)

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Personal growth, self-fulfilment

Achievement, reputation,

self-confidence, authority : Acceptance,

— Physical safety,

| Seletymetives — rotection, lawéorder good social benefits

Drink, food, omfortable

sex, rest

Figure 1.3: Job satisfaction model based on Maslow’s hierarchy of needs

Source: Ingenuity, 2019

1.3.2 Herzberg’s Two-Factor Theory

American psychologist Frederick Herzberg is regarded as one of the great original thinkers in management and motivational theory This theory was proposed by him in 1966 Herzberg set out to determine the effect of attitude on motivation,

by simply asking people to describe the times when they felt really good, and really bad about their jobs What he found was that people who felt good about their jobs gave very different responses from the people who felt bad.

The theory has a dual structure comprising hygiene and motivation factors Herzberg recognized that the factors contributing to job satisfaction and

dissatisfaction are quite different However, the two types of factors could not be viewed as opposite to one another.

Hygiene factors, or extrinsic motivators, tend to represent more tangible, basic needs, which are the kinds of needs included in the existing category of needs in the lower levels of Maslow’s hierarchy of needs Extrinsic motivators include status, job security, salary, and fringe benefits It is important for managers to recognize that

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failure to provide the appropriate and expected extrinsic motivators will cause dissatisfaction and reduce motivation among employees.

Motivation factors, or intrinsic motivators, tend to represent less tangible, more emotional needs—i.e., the types of needs identified in the “relatedness” and “ørowth” categories in the higher levels of Maslow’s hierarchy of needs Intrinsic motivators include challenging work, recognition, relationships, and growth potential Motivation is what drives us to achieve our goals and motivation factors are necessary to motivate an employee to perform better Managers need to recognize that while these factors may fall outside the traditional scope of what a workplace has to offer, they can be crucial to individual and group performance.

According to Herzberg, intrinsic motivators and extrinsic motivators have aninverse relationship That is, intrinsic motivators tend to increase motivation when

they are present, while extrinsic motivators tend to reduce motivation when they are absent This is due to employees’ expectations Extrinsic motivators (e.g., salary, benefits) are expected, so they won’t increase motivation when present, but will cause dissatisfaction when absent On the other hand, intrinsic motivators (e.g.,

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challenging work, growth potential) can be additional sources of motivation when

they are available.

Achievement Working conditions

Recognition Coworker relations

Responsibility Policies and rules

Figure 1.4: Herzberg’s Two-Factor Principles

Source: Lumen Learning

In a nutshell, the level of job satisfaction is determined by both motivation and hygiene factors While motivation can be an intrinsic factor found in an individual, motivation factors such as proper training and treating employees fairly and respectfully will help enhance job performance of employees Hygiene factors such as income, supervision, job security, and working environment are other aspects of a job that can make a big impact on an individual.

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Maslow‘s Hierarchy of Need Herzberg’s Two Factors

‘att represen Content Factors: Work, that Closely related

“hy, seas P to the work content

and development

Teamwork of personality

Safe work, good social Context Factors:

benefits Highly interrelated

Comfortable and well-paid to the

work work condition

Figure 1.5 Maslow’s Hierarchy of Needs & Herzberg’s Two Factor Model

Source: Ingenuity, 2019

It can be said that context factors are the foundation for job satisfaction and even have the potential to turn into motivators The figure above shows how Herzberg’s two-factor theory can be compared with Maslow’s hierarchy of needs The theory of Herzberg received a lot of attention for its ability to explain the psychological aspect of motivation in a very practical way to engineers and managers Herzberg’s model reveals its weakness based on the fact that it was formed by using the critical incident method and can only be repeated if the same method was utilized With Maslow, however, adds some insights into the complicated interdependence of individuals and groups’ behavior and the job satisfaction aspects

of an organization.

1.4 Previous studies on job satisfaction

Many studies investigated job satisfaction of employees in organization based on the Herzberg’s two-factor theory They also focused on many aspects of employees in relation to job satisfaction Empirical studies on job satisfaction are as follows: Luddy (2005) studied the levels of job satisfaction experienced by employees at a public health institution in the Western Cape region and found that they expressed satisfaction with their co-workers, the nature of work and the supervision they received respectively Opportunities for promotion and payment

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emerged as major sources of dissatisfaction With the exception of marital status, the relationship between occupational class, race, gender, education level, tenure, age, income and job status with job satisfaction was found to be significant.

Satjawarodom (2005) studied employees’ job satisfaction at CUEL Limited based on Herzberg’s two-factor theory and found that the employees were satisfied with self-achievement, nature of work, working conditions and job security while they felt neutral about advancement, company policy and administration, pay and fringe benefits as well as social acceptance The findings did not indicate or establish a concrete connection between job satisfaction factors and genders of employees.

Age factors had a definite positive relationship to self-achievement, social acceptance and company policy and administration Sutjaritpwatskul (2005) studied personal factors of employees of Samnina-SCI Systems (Thailand) Ltd (Phathumthani) The study based on Herzberg’s two-factor theory showed that

salary and fringe benefits influenced most of personal factors such as gender, age, education and income Job satisfaction factors related to employees’ working conditions and needs for achievement were influenced by different genders, education levels and incomes Phupresertsong (2006) studied job satisfaction influenced by internal factors and external factors of exempted employees in an electronics manufacturer The study applied Herzberg’s two-factor theory and it was found that there were no differences in job satisfaction among employees of different genders Both male and female employees experienced job satisfaction at a high level.

There was a difference in job satisfaction among employees with different education levels It was found that the ones with high education experienced job satisfaction at a higher level than those with lower education Prompoon (2007) studied job satisfaction of medical representatives at Boehringer Ingelheim (Thai) Ltd based on Herzberg’s two-factor theory and found that employees were somewhat satisfied with their jobs based on the three strong motivator factors, interpersonal relations, recognition, and the work itself The hygiene factors of interpersonal relations and supervision contributed significantly to the prevention of job dissatisfaction Respondents were least satisfied in the area of salary.

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Sutaroteprajak (2007) studied job satisfaction of employees of the Marketing Group at Phatra Insurance Public Company Limited The study applied Herzberg’s two factor theory and it was found that employees had the lowest satisfaction with pay but the highest satisfaction with supervisors or supervision Male employees were more satisfied with pay, promotion and supervision than their female

To-Anan (2007) studied the job satisfaction of medical representatives and found that they had high job satisfaction levels The study was based on Herzberg’s two-factor theory and it was found that the employees had high job satisfaction levels because of motivation and hygiene factors Their job satisfaction was found at high levels in the area of salaries and other financial remuneration, quality of

supervision, quality of interpersonal relations, working relations, working conditions, job security, recognition, responsibility, job specification, and achievement Job satisfaction found at moderate levels was in the areas of company policy and administration and achievement There was no significant difference in job satisfaction in relation to gender, education and income However, significant

differences in job satisfaction in relation to age and work experience were found.

Kajornkittiyuth (2008) studied employees’ job satisfaction at the Operation Department of Intertek Testing Service (Thailand) Limited Applying Herzberg’s two-factor theory, findings showed that the employees had moderate levels of

satisfaction in promotion, work itself, and supervision, and high levels of Job satisfaction in pay and co-worker There were differences in job satisfaction levels when classified by gender, age, education, work experienced, and monthly income.

Tiengtrakarnsuk (2008) studied job satisfaction of employees at operation level in the Customer Support Department of CS LoxInfo Public Company Limited based on Herzberg’s two-factor theory It was found that their overall job satisfaction was at a moderate level Job satisfaction was found at high levels in the area of co-workers and at moderate levels in respect of pay, promotion, supervision and the work itself There were differences in job satisfaction levels in relation to age, education and monthly income.

Thavornranart (2009) studied the job satisfaction of exempt employees in the Material Department of Benchmark Electronics (Thailand) Inc and found that their

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job satisfaction levels were high Job satisfaction was found at high levels in the areas of policy and administration, job description, achievement, recognition, responsibility, quality of supervision, interpersonal relations with others, job security and working conditions; at moderate levels in the areas of career advancement, salary and benefits The comparison of job satisfaction levels, taking into account gender, age, education, working experience and salary, showed that the differences were characterized by age There were no differences in job satisfaction levels as characterized by gender, education, work experience and salary Many studies on job satisfaction have conclusively come up with different findings However, many of them have suggested that employee retention and satisfaction are important issues that the company’s Human Resources Department has to deal with In this study, the job satisfaction of MSH employees was determined on the basis of nine factors which are work itself, compensation, career advancement, recognition, fringe benefit, supervisor & coworker, working environment, self-esteem and company policy & administration The results would benefit for the company to develop more effective strategies to enhance its employee’s job satisfaction and minimize its employee turnover rate.

1.5 Research Framework

On the basis of previous studies and literature review, the framework below is suggested to identify and measure the factors contributing to employee satisfaction of MSH

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CHAPTER 2: INTRODUCTION OF MSH GROUP

2.1 Background information

MSH Group - formerly known as My Second Home Co., Ltd - was established in 2015 by Chairman Mr Nguyen Xuan Loc After 7 years of operation, MSH Group has been making steady progress, becoming a system of 3 member companies, operating in 3 main areas: Distribution, Investment & Development of real estate projects MSH Group has a goal to IPO by 2025 and a vision to become the Top 10 strategic consulting and development units of real estate projects in Vietnam The mission of MSH is to bring customers the best solutions and high-quality products, to maintain a good working environment, high income for employees and to create a lot of value for the community In 2022, MSH Group aims to increase to 1,000 people, operating across 3 regions of Vietnam, bringing together leading experts in the field of real estate.

In addition, MSH Group also focuses on developing its network of operations in key branches such as Hanoi, Phu Tho, Nha Trang, Ho Chi Minh City and Ca Mau Not only expanding the scope of activities, MSH Group also continuously improves service quality, innovates corporate governance, applies technology to customer data management, etc To provide customers with quality real estate products and effective

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2.2 The vision, mission and philosophy

Vision: Become the Top 10 strategic consulting and development units of real estate projects in Vietnam, with a scale of 10,000 employees by 2030

> Support real estate brokerage services through the application of modern technology to the sales management process, transparency through information and optimize costs and profits.

> Create a cohesive working environment like a family, professional, transparent about mechanisms and policies.

> It is the convergence of the top self-made billionaires in Vietnam Philosophy:

MSH Group's business philosophy is to nurture investment as well as build a community of close and successful investors.

MSH Group always focuses on putting the interests of investors and partners first, considering serving and implementing what MSH Group commits is vital.

For Partners - Customers - Investors: Always be a reliable partner, go hand in hand from start to finish to create a truly successful project.

2.3 Organizational structure

Figure 2.2: Organizational structure of MSH Group

Board of Supervisors }—>}_ Board of Directors

CEO [—>|_ Manager General

Human Marketing Geiss Finanee and 2S)

User support & }>| Policy § SEO Client Service Accounting Benservice

IT Internal After-sales Financial Product

Management [|Communica! tion | (event | support | Plannin: g Development

IT Security }>| Recruiment >| Digital

>| Training >| Media

Source: MSH Group

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- Board of Directors: The Board of Directors is an agency with full powers

and all rights on behalf of the Company except for those belonging to the General

Meeting of Shareholders The Board of Directors has the following rights and duties: To decide on the annual production and business development plan; Determine operational objectives on the basis of strategic objectives approved by the General Meeting of Shareholders; Appointing and dismissing company managers at the request of the CEO; Decide on the organizational structure of the Company; Proposing the types of shares that can be issued and the number of

shares to be issued according to each type; Appointing, removing or dismissing the General Director or a manager or representative of the Company when the Board of Directors considers it to be in the best interests of the Company; Other rights and duties in accordance with the Company's Charter.

- Board of Supervisors: Board of Supervisors is an agency directly under the General Meeting of Shareholders, elected by the General Meeting of Shareholders The Board of Supervisors is responsible for checking the rationality and lawfulness of business operation activities and financial statements of the Company The Board of Supervisors operates independently from the Board of Directors and the General Director The Board of Supervisors has the following rights and duties: To propose the selection of an independent auditing company and all issues related to the withdrawal or dismissal of the independent audit firm; Discuss with the independent auditor the nature and extent of the audit prior to initiating the audit; Seek independent professional or legal advice and ensure the involvement of external experts with relevant experience and qualifications in the work of the company; Check annual, six-monthly and quarterly financial statements before submitting them to the Board of Directors; Discuss difficult issues and outstanding findings from the mid-term or final audit results as well as any issues that the independent auditor wishes to discuss; Review the management letter of the independent auditor and the company management's feedback; Other rights and duties in accordance with the Company's Charter.

- CEO: CEO is appointed by the Board of Directors, running and managing all production and business activities of the Company CEO has the following rights and duties: To implement the resolutions of the Board of Directors and the General Meeting of Shareholders, the Company's business plan and investment plan

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approved by the Board of Directors and the General Meeting of Shareholders; to decide all issues that do not require a resolution of the Board of Directors, including signing financial and commercial contracts on behalf of the company, organizing and operating daily business activities of the company; to propose the number and types of managers that the company needs to hire for the Board of Directors to appoint or dismiss when necessary in order to apply the activities and good management structures proposed by the Board of Directors; to suggest the Board of Directors to decide on the salary, remuneration, benefits and other terms of the labor contract of managers; to submit to the Board of Directors for approval a detailed business plan for the next financial year on the basis of meeting the requirements of the appropriate budget as well as the five-year finance plan; to implement the annual business plan approved by the General Meeting of Shareholders and the Board of Directors; to propose measures with the aim of improving the operation and management of the Company; Other rights and duties in accordance with the Company's Charter.

- Other departments: Legislation Department; Human Resources Department; Marketing Department; Sales Department; Finance and Accounting Department; R&D Department; IT Department

2.4 Features of human resources

Table 2.1: Features of human resources of MSH Group from 2019 — 2021

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MSH Group is an emerging property company, gradually asserting its position in the field of real estate From 2019 to 2021, the total number of employees at MSH increased significantly by 61.1%, with 785 workers at the Head Office and three other branches.

The ratio between indirect and direct workers fluctuated from 30% to 35% is said to be reasonable, but still depending on the size and field of the company.

Recently MSH has implemented changes in the structure of human resources policies,

leading to the fact that within 3 years, the percentage of the indirect workforce has declined by almost 4% while that of the direct workforce was reported to increase to

more than 61%.

Moreover, there is a change in the structure of employees in terms of the level of education In 2019, workers with lower than Bachelor’s degrees made up the most significant percentage with around 55% However, in 2021, the majority of employees reported to be those with Bachelor’s degrees (56.1% to be exact).

In terms of age, it can be seen that the two first groups, 21-30 years and 31-40 years old, accounted for a remarkable proportion with 38.5% and 34.8% respectively.

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There are also more than 20% of workers aged 41-50 while the population of workers over 50 years old is the least with 6.1%.

Regarding gender, in 2019, the number of male employees in MSH Group was 340 people, accounting for nearly 71% and this figure continued to increase to 73.2% in 2021 This is explained by the characteristics of the real estate sector and manufacturing industry as well Although the number of employees is still not enough to meet the demands of the market, the structure is quite stable to ensure that the

organization can achieve its production goals.

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CHAPTER 3: RESEARCH METHODOLOGY

3.1 Research participants

A total population of 635 employees is working in Head Quarter in Hanoi and 150 employees in different branches of MSH Group Out of the total population, 120 employees working in the Head Quarter are provided with the standardized questionnaire The reason behind this selection is that majority of the employees of

MSH are working in Hanoi and all the youths transfer their higher studies to the

capital city with a lot of expectations and hopes that they get better opportunities in Hanoi The questionnaires are distributed among the employees working in different departments, such as Sales, Marketing, Legislation, Human Resources, R&D, Finance & Accounting, and IT.

3.2 Research Instruments

A questionnaire was used as the main instrument to collect data from the respondents It was written in English and translated into Vietnamese for the

informants The questionnaire was divided into two parts: Part 1: Personal Background

The participants were asked to provide personal background information, regarding their gender, age, level of education, and length of employment in MSH Group.

Part 2: Factors contributing to job satisfaction

A series of questions were designed to assess the degree of job satisfaction of MSH workers These factors are work itself, compensation, work advancement, recognition, fringe benefit, working conditions, supervisors and co-workers, self-esteem, and company policy and administration Each question was in a form of a

statement that required a response indicating the degree of satisfaction by means of a

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Scale 1: Strongly disagree

Besides, there are also open-ended questions that cannot be answered with a "yes" or "no" response, or with a predetermined set of responses Instead, participants can provide answers in their own words It will be useful when asking for recommendations and solutions to some problems

In addition, participants will proceed with observation with the purpose of building stereotypes and theories based on individuals' opinions The personnel at MSH Group provided the researcher with many comments, suggestions, and feedback throughout my internship.

Furthermore, this study also includes information provided by the Human Resource Department of MSH Group along with the data synthesized and analyzed from textbooks, journals, articles, and existing research on related topics.

3.3 Data Collection

The following steps were respectively conducted to collect data:

Step 1: Design the questionnaire items based on the purposes and scope of the research.

Step 2: Use Google Form to create an online questionnaire

Step 3: Deliver the questionnaire to a population of 120 employees through 3 main channels, which are Zalo, Viber, and Facebook The online survey began to be distributed in October 2022 in two weeks The questionnaire was valid until approaching 120 employees of MSH Group.

Step 4: Collect all the answers.

Step 5: Analyze the responses collected.

3.4 Data Analysis Procedures

The collected data from 120 informants will be calculated into mean and illustrated in the form of charts, tables, and descriptive figures.

First, descriptive statistics were used to examine the data from the first section of the questionnaire The aim was to identify the demographic characteristics of the participants Following that, the statistics were translated into frequency and

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Next, the statements about the 9 job satisfaction factors in the second part of the questionnaire were calculated for mean score The Likert scale was adapted to this questionnaire and the mean scores were interpreted as follows:

Score Range Level of Job Satisfaction

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CHAPTER 4: FINDINGS & ANALYSIS

This chapter presents the research findings The presentation comes in three parts: demographic characteristics, job satisfaction levels, and levels of job

satisfaction classified by demographic characteristics 4.1 Demographic Characteristics

This part covers the demographic characteristics of the 120 participants who were employed on a full-time basis and working in the head office at the time of conducting the survey The demographic information includes gender, age, educational background, and length of employment The data are shown below.

Figure 4.1: Gender of participants

As presented in Figure 4.1, out of the total of 120 respondents, 55.8% weremale, and 44.2% were female This information reflects that both genders have been

represented reasonably in the study.

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