This research will identify and outline the reasons why Millennials in Commercial Function of Nielsen Vietnam decided to leave the company and what are the considerable reasons that they
Trang 1UNIVERSITY OF ECONOMICS HO CHI MINH CITY
International School of Business
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Tran Ngoc Quynh Anh
MILLENNIALS TURNOVER & RETENTION
Trang 2UNIVERSITY OF ECONOMICS HO CHI MINH CITY
International School of Business
Trang 3Executive Summary
Employee’s turnover & retention has been a big concern for employer, which may impact very much on the business performance time by time While employer continues their search for good talents in Generation X to fill the job openings that Baby Boomers leave vacant when retiring from the workforce, it is the time for Millennials to enter the workforce, which value different things from other generations Therefore, this is the required action for employers to understand and appreciate the qualities and values of this cohort in order to for them to be loyalty with the company and for employee to retain them
This is also the biggest concern of Nielsen Vietnam in general and Human Resources department of Nielsen Vietnam in specific, when the Young Millennials is the big focus, the big investment in Nielsen – the leading market research company in Vietnam
This research will identify and outline the reasons why Millennials in Commercial Function of Nielsen Vietnam decided to leave the company and what are the considerable reasons that they decided to stay Also, some of the proposed solutions and strategies have been build and developed in order to retain Generation Y The methodology used in the thesis is the qualitative research design, which we use in depth interview with 8 respondents from 4 main groups Moreover, The secondary data of leavers, Millennials turnover analysis and insights about the reasons of Millennials leaving, which were implemented by Human Resources in Nielsen Vietnam will help to provide the overall picture of Millennials turnover commercial function in Nielsen Vietnam and the solutions to solve the issue
Trang 4I would like to thank my friends and family for greatly supporting me while I was working on
my research Your patience, understanding and respect were greatly appreciated
Trang 5TABLE OF CONTENTS
Executive Summary Error! Bookmark not defined
Acknowledgments 4
LIST OF TABLES 6
1 INTRODUCTION 1
1.1 The Nielsen Company and Nielsen Vietnam 1
1.2 Nielsen Vietnam structure 2
2 PROBLEM CONTEXT 4
2.1 The Millennials status in the workforce 4
2.2 The Millennials turnover status in the market research service industry 8
2.3 The Millennials status of the Commercial function in Nielsen Vietnam 9
3 PROBLEM IDENTIFICATION 19
Factor of Work-life balance: 23
Factor of Compensation & Benefits: 26
Factor of Engagement: 27
Factor of Reaching career goal quickly: 29
Factor of Leadership style: 29
Cause-and-effect tree 31
4 CAUSES OF THE PROBLEM 35
5 ALTERNATIVE SOLUTIONS 36
5.1 The first alternative solution: Human Resources team to speed up the current recruitment process .37
5.2 The second alternative solution: The line managers assign or allocate the appropriate workload to members in the team 40
5.3 The third alternative solution: Improve the Onboarding Program 42
5.4 The fourth alternative solution: Reorganize the time & task management training sessions 46
6 ORGANIZATION OF ACTIONS AND SUCCESS MEASUREMENT 50
6.1 Actions from the organization: 50
6.2 Success measurement after taking actions: 54
7 CONCLUSION 55
8 SUPPORTING INFORMATION 56
REFERENCE 86
Trang 6LIST OF TABLES
Table 1 Talent Acquisition Report updated in June 2016 10
Table 2 Recruitment - Referral from Existing employees & universities 11
Table 3 Analytics of Commercial function’s turnover rate 15
Table 4 Analytics of tenure of existing millennials 16
Table 5 Analytics of tenure of Millennials leavers 17
Table 6 Exit Survey Report in 2015 – Commercial team 22
Table 7 Exit Survey Report in 2015 – Commercial team 22
Table 8 Recruitment Tracking Report 38
Table 9 Recruitment cost per new hire 40
Table 10 Training cost for line manager on obtaining the negotiation & allocation skills 42
Table 11 Tenure of existing millennials 43
Table 12 Tenure of Millennials leavers 44
Table 13 Training cost per new hire 45
Table 14 Training Participation rate report 46
Table 15 Training cost for time & task management per Commercial associate 48
Table 16 Action Plan 52
Table 17 Recruitment Expectation and Operation in Nielsen Vietnam 54
LIST OF FIRGURES Figure 1 Nielsen Vietnam structure 2
Figure 2 The U.S Labor Force by generation from 1995 to 2015 4
Figure 3 Millennials Believe in life at work 6
Figure 4 What Work-Life Balance means to Millennials 7
Figure 5 Nielsen Vietnam workforce by age & generation 13
Figure 6 Nielsen Vietnam workforce by age & generation – Commercial Function 14
Figure 7 Exit Interview Report in 2015 – Commercial Function 20
Figure 8 Exit Interview Report in Q1&Q2, 2016 – Commercial Function 21
Figure 9: Cause and effect Tree 31
Trang 71 INTRODUCTION
1.1 The Nielsen Company and Nielsen Vietnam
The Nielsen Company, operates as a market research agency, has more than 41,000 associates and operates in more than 100 countries spread across Africa, Asia, Australia, Europe, Middle East, North America, South America and Russia It is known as 93 years of non-stop innovation company, with the first marketing research and performance survey was produced
in 1923 to the leading market research company in the world was announced nowadays In particular, Nielsen is the world’s leading provider of marketing information, audience measurement and business media products and services, named number 1 of top 50 largest market research films in the world.1 Nielsen’s passion and the very heart of the business are once clients are eyeing in the next town or across countries; they understands the importance
of knowing what consumer watch and buy, in order to deliver critical media and marketing information, analytics and industry expertise to clients From that, they help clients maintain and strengthen their market positions and identify opportunities for profitable growth The mission of Nielsen are to provide clients with the most complete understanding of consumers and markets worldwide, never stops developing better solutions to help clients meet the need
of today’s consumers and find out where they are headed next
Nielsen people lives for the values of the company, including: Open, Simple and Integrated In details, be open, in term of speaking candidly and authentically, sharing information freely, being receptive to change and easily adapt, accepting and acting upon feedback without being defensive Be simple, in term of removing obstacles to complex problems, communicating in plain and simple to understand language, resisting over analyzing information, simplifying and taking work out of processes Be Integrated, in term of building collaborative relationships within own team and across businesses or geographies, challenging operating in a “siloed” or insular manner and willingly developing, promoting, “export and import” talent from other parts of Nielsen
Established in 1993, Nielsen Vietnam has become the country’s leading provider of marketing and consumer information, offering strong capabilities and local knowledge across qualitative,
Trang 8quantitative, media and retail measurement led by teams covering Fast Moving Consumer Goods, Consumer Products, Automotive, Finance, Pharmaceuticals, Real Estate and Tourism, Telecommunications, Industry and Manufacturing Nielsen Vietnam has over 2,400 employees and contractors in all 64 provinces; Ho Chi Minh City is the place where headquarter located Moreover, Nielsen Vietnam has 5 other representative offices, such as: Ha Noi, Hai Phong, Da Nang, Nha Trang, Can Tho Nielsen Vietnam has the in-house operations with around 1000 employees that help to deliver the operation excellence for the company’s business People at Nielsen Vietnam mentioned a lot about the Nielsen experience, including: “I can be myself”, “I can make differences” and “I can grow with Nielsen”, which encourage them to work and continue contributing to the company
1.2 Nielsen Vietnam structure
Figure 1 Nielsen Vietnam structure
(Source: Nielsen Vietnam Human Resources)
In Nielsen Vietnam, there are 3 main functions, such as: Commercial, Operations and Core Functions In Core Functions, there are some different teams like: Finance, Information technology, Human Resources and Marketing & Communication, which indirectly support for
Trang 9the demand of the business Each department goes with different operation methods, but aligns with the main objectives and strategies of the company In Commercial and Operations, the structure is divided based on the services that Nielsen is offering, including: Retail Measurement Service and Consumer Insights And the Operation team (Production) supports for Commercial team (Sales) to bring the valuable contracts to the company
This thesis focuses on the research of the Commercial function, which has the responsibility to bring the revenue directly to the company In the Commercial role at Nielsen Vietnam, they are the ones who make the selling, marketing, researching and consulting job when working with clients Therefore, it is easy to say that they are valuable assets and play key roles in the company and their contributions are extremely important in Nielsen business’ growth
So what is the meaning behind their work to make them so valuable and important to the company? The consumer’s world today is vast and interconnected Every time consumers glance at the TV, computer, mobile phone or tablet, every time they enter stores, they are generating thousands of data points Over time, these data points tell a story, which is about what influences consumers to make a purchase or consume content, and it is enough to create a market of potentially loyal consumers of the products or content And Nielsen people’s main role is to make something of that data, such as to organize it in a way that is usable, practical and meaningful for our clients And information is the number one input to decision making and it is the fuel for growth, the leading ingredient needed to uncover unmet need and deliver against it Therefore, those who are able to pass the recruitment round and join in Commercial team of Nielsen Vietnam need to have some specific skillsets and requirements, which are so rare in the market, in order to deliver the best insightful information to the clients They influence the marketing and sales decision of the clients, they are involved in planning period, launching period, and execution period of the clients to make sure that the provided information or consulting works well and bring the revenue back to the clients Moreover, the market research major is not popular in Vietnam and this subject is not well educated in Universities Vietnam, so it is very hard to recruit the right people to Nielsen in general, to the Commercial team in particular Therefore, it is even harder to retain them in Nielsen as they understand clearly and get into the business of the clients, they have the unique knowledge
Trang 10about the Vietnamese market, and they own the awesome skillset that not many people in Vietnam workforce luckily have, that’s why Nielsen Vietnam needs to focus on people retention strategy in order to keep the talents staying and developing at Nielsen Vietnam They are such incredible assets of Nielsen in general and Nielsen Vietnam in specific
2 PROBLEM CONTEXT
2.1 The Millennials status in the workforce
The Millennials generally refers to the generation of people born during 1980s to arowund 2000; they are also known as the generation Y, as they come after the Generation X (born from the early 1960s to mid 1970).2 Millennials have been entering the employment in vast numbers and have become the key group of employee in the workplace The Bureau of Labor Statistics stated that Millennials will be the largest generation in the workforce by the end of 2015.3 In particular, when the clock clicks 2015, three of four workers across the globe will be from the generation Y.4 Moreover, the Pew Research Center3 showed the U.S Labor Force by generation from 1995 to 2015 in the below chart, which provides the strong evident that Millennials have now surpassed Generation X to become the largest generation in the
workforce and really matters to the workforce nowadays
Figure 2 The U.S Labor Force by generation from 1995 to 2015
(Source: Pew Research Data)
Trang 11Mrs Nguyen Huong Quynh - Managing Director of Nielsen Vietnam has reported in the Youth Campaign about the Millennials generation:
The Millennials generation accounts for 24% of the global population, as well as Millennials in Vietnam accounts for 30% of the current population
Moreover, the current status has been kept in the next 10 years based on the Demographical fragmentation in Vietnam In 2010, the biggest group of age was from 15-29, which is under Y generation and it is anticipated to move this biggest group to 25-39, which is also under Y generation
Millennials came onto the scene after generation X and instead of unstable home life that many people belong to generation X experienced, Millennials had parents who focus on giving them structure through planned activities and constant encouragement.5 Millennials generation was born into an economic boom and graduated into a major bust, they are the most educated and technologically savvy generation ever and arguably a highly sheltered and structured generation.4 Even Millennials is the youngest generation in the current work force, they have been successfully initiating change across the globe for years.6 They are a diverse generation with an open mind and acceptance for differences in race, gender, ethnicity, and sexual orientation.7 According to Bartley et al.8 Millennials can multitask, they acknowledge the priorities, as well as want a relationship with their boss, especially they want to be challenged
to prove themselves to others
Sujansky et al9 stated that Generation Y bring new perspective, new style to the workforce, but
if organization are not willing to adapt, the risk losing billions of dollars to unwanted turnover and lost productivity The expectation of the employers on previous generations, who are willing to work long hours so as to complete the assignment or get the job done, needs to be adjusted once they start recruiting new generation to the organization For the generation Y, they have different outlooks on work-life balance, which forces employers to look at back the recruitment strategy, redesign the expectations when recruiting this generation For Millennials, work-life balance may even mean more than salary.9 Deloitte5 reported that when
it comes as the future career opportunity, Millennials attach the most importance to a good work-life balance
Trang 12Figure 3 Millennials Believe in life at work
(Source: Deloitte)
In addition to other criticisms, previous generations said that Millennials seem unwilling to work hard, they try to find the way to enjoy their personal life more than the professional life, which annoy Baby Boomers and Generation X a lot.11 However, to Millennials, the term of
“work-life balance” does not mean the same thing as that defined from previous generations,
so what work-life balance means to Millennials? Henrik Bresman11 found that Millennials drive for work-life balance, but this clearly means work-me balance, not work-family balance
In general, three strongest factors are suitable to define was “enough leisure time for private life” (57%), followed by “flexible working hours” (45%) and “recognition and respect for employees” (45%)
Trang 13Figure 4 What Work-Life Balance means to Millennials
(Source: HRR.ORG)
With the same perspective, Myers et al.5 stated that Millennials confirms that work-life balance
is a high priority for them and they score higher on the importance of leisure time than Baby Boomers From that, it is easy for people to conclude that Millennials as selfish or as the generation showing low dedication or commitment to the company and sometimes they have the stereotype of lazy and wasters
However, from a different perspective, De Hauw et al.12 stated that, although they value life balance, they would put extra time and effort to work when needed, they will shorten their social time at work such as breaks, in order to ensure the company succeeds For this generation, they would like to have work life integration, they would like to bring their personal life into their work life, they have trend to share, to talk and get advices from people
work-at work If any company can provide them thwork-at kind of environment, they can work even more than the work expectations
In addition, Baby boomers generation or generations X is leaving the workforce increasingly
In order to make sure that the business runs smoothly, organization need to find and get into the current workforce so it is required for all organizations not only to understand this
Trang 14generation, understand their thoughts, their philosophy, their values, but also adapt their cultures, their work styles
2.2 The Millennials turnover status in the market research service industry
The turnover status of market research companies has not been revealed due to the security of the company and it as well may impact to the general business of the company However, based on some of the opened speeches from representatives of some market research companies and market research department of the company, it is not really a big issue for them
to handle at this stage as it is not the high priority, based on the facts of their companies However, this should be a big warning for Nielsen as the situation is not that good, compared
to other companies in the same industry
Mrs Nguyet Vo, Human Resources manager of Nielsen Vietnam stated the fact that:
When I joined the Human Resources committee or club outside and Human Resources member from the market industry openly shared that in market research industry, Millennials have trend to stay in two years and a half to three years in the current company Generation Y employees have high expectations for being trained well, and they feel that this is a very important part of their experience 13 and they will leave when they think that they have learnt enough Also, for local companies, Millennials in those companies have trend to stay longer as there are no significant differences between staying in the current companies and moving to another place, in term of skillset, experience and salary package In service industry in general and in market research in particular, Millennials stay with the current company average around 2 years and a half or 3 years before moving to another organization
Mrs Ha Ho from Human Resource manager of TNS Vietnam, which is a market research agency, made a speech in the Vietnam Human Resources Group sharing session in March
2016 with the topic of the Millennials Career Orientation She stated that:
The Millennials generation generally has trend to leave the company in around 3 years and this trend is applied exactly the same in TNS, just some special cases that they decided to leave after 2 year working due to further education Moreover, Millennials generation focuses not only on their professional life, but also on their personal life more than that in the previous generations, they will do something that make them happy than simply earn the money
Joining the discussion, Mr Pham Binh Duong - Human Resources Business Partner from Epinion - another market research company, raised his voice about the agreement on this perspective Moreover, he stated that “many sharing and training sessions for Millennials with
Trang 15the topic relating to the work and time management were conducted to ensure the work-life balance, which impact very much on the leaving trend of the generation Y” He shared verbally about the trend at work of millennial in general and in Epinion in specific
Millennials from operation department have trend to stay with the company for long run due to the nature of job, but Millennials from sales department have trend to leave earlier, they leave after two years and a half working in the agency Some of the key reasons that generation Y decided to leave the company, including: getting another job offer with higher salary, the leadership from the manager, and would like to get faster promotion The Epinion always shared them some of the opportunities if they stay, but once the motivation is too big, they decided to leave without careful consideration However, the percentage of Millennials leaving Epinion is not too much, so it is not the big issue of the company
at this stage
Sharing the same perspective, Human resources from some companies stated that it is not a big issue in the research department of their companies, the turner of staying is around three years and a half, which is not critical 83% Millennials in the company raised their voice in the annual survey that they are happy with the current job and not yet have intention to leave the job Even the signal is quite good, but they always take care millennial very carefully to make sure that nothing bad comes unexpectedly
2.3 The Millennials status of the Commercial function in Nielsen Vietnam
The market research major is not popular in Vietnam, this subject is not well educated in Universities in Vietnam and this industry is so new in Vietnam as well That’s the reason why Nielsen Vietnam could not recruit local experienced associates due to the quality of the candidates, they need to recruit those who get well trained or well educated in market research field from many other sources and channels They are workers who have worked abroad in the market research agencies or those who have worked in the research department of companies,
or they even are expatriates who have studied and worked in the market research field The quality of the candidates from this source is quite good, but the number of candidates was not many, and Nielsen Vietnam needs to pay them with big package if really want to get them in the team
From that, the recruitment strategy of Nielsen Vietnam needs to be changed in order to meet the business requirement They invest in young people, who studied abroad with the market
Trang 16research major or those have just graduated from universities with some of the relevant majors which meet Nielsen’s requirements, including: Marketing, Finance, Accounting, Math & Statistics, Audit, ect and welcome for those who are really interest in the market research field and keen on becoming the researcher in the long run
Based on the talent acquisition report and analysis from Nielsen Vietnam, the percentage of qualified candidates that Nielsen can get from referral channel was 25% above total qualified candidates in 2013, 21% in 2014, 22% in 2015 and 26% for the annualized 2016
Table 1 Talent Acquisition Report updated in June 2016
(Source: Nielsen Vietnam Human Resources) The referral is counted not only from the recommendations of universities abroad, but also from the recommendations of existing employees whom their friends has the same interest in market research field In order to get many recommendations from the universities abroad and the existing employees, it takes Nielsen Vietnam such a long time to build up the strong foundation, get the belief from representatives of universities abroad and current employees For foreign universities, Nielsen Vietnam signs off the cooperation agreement, in term of partly making sure the output of those universities, recruiters get their students in the first round and treat their students as the priority Representatives from universities support to pick the suitable applications from both current students & alumni, and then transfer to Nielsen Vietnam for further steps For current employees, Nielsen Vietnam launched the Employee
Trang 17referral programs in order to create the motivation for existing employees to share and rush in referrals Employee referral is one of the proven sources of high-quality talent and a key pillar
in the attraction strategy Employee referrals also deliver a host of many other benefits including reduced cost-of-hire as well as retention of both new hire and referral Around 80% employees of commercial function are Millennials, so they have trend to recommend the friends in their networks, who are very young, active and dynamic In general, around 80% of people joining Nielsen by referral channels are Millennials In particular, the table was provided by Human Resources team of Nielsen Vietnam shows 84% qualified employees were millennial in 2013, 86% in 2014, 90% in 2015, 87% annualized in 2016, over total referral
Table 2 Recruitment - Referral from Existing employees & universities
(Source: Nielsen Vietnam Human Resources) Moreover, Nielsen Vietnam with the traineeship program opens for fresh graduate, temporary joining Nielsen Vietnam in six months During that period of time, they will have chance to be trained about market research process, to receive the sharing from line managers, senior leaders about the career orientation, to be coached about how to work in an international working environment, to be educated on how to work effectively Also, during six month, they need to perform excellence, work under pressures, overcome the challenges in order to meet the
Trang 18requirements that Nielsen Vietnam set before the program starts Moreover, the traineeship gives them chances to see if they really fit in market research industry or not After 6 months, if they really see that market research should be their future career orientation and they perform excellence based on the manager’s evaluation, they will be converted into Full time employee This practice has worked well in Nielsen Vietnam for 5 years now and the number of trainees has been converted into Full time employees were very high The conversion percentage in
2013 was 80%, with 64 qualified trainees over 80 trainees in total, in 2014 was 79%, with 66 qualified trainees over 84 trainees in total, in 2015 was 82% with 68 qualified trainees over 83 trainees after 6-month traineeship program In 2016, the number has been increasing, after the first half of the year, the number of trainees got converted were 42 trainees over 92 current trainees, which is very potential for the year of 2016 From that, the talent acquisition report and analysis from Nielsen Vietnam once again reflects it very clearly, the percentage of qualified candidates that Nielsen can get from conversion was 35% above total qualified candidates in 2013, 34% in 2014, 37% in 2015 and 40% for the annualized 2016 It is easy to conclude that 100% conversion cases were Millennials
The reports provided by the Human Resources of Nielsen Vietnam, together with the above analysis strongly answer for the question why most of the people in Commercial team of Nielsen Vietnam are from Generation Y Total number of employees of Nielsen Vietnam, which was updated in June 2016 is 2,425 employees From that, when look into the data in details, 84.70% employees are Millennials, 14.60% employees are from generation X and 0.70% employees are from Baby Boomer generation From that, we can see the biggest workforce of Nielsen Vietnam is from Generation X, which plays an important role in Nielsen Vietnam in general They contribute mainly for the success of both Commercial function and Operations team with the new working style, new working perspective and new ideas From that, it is promising that Nielsen will gain the new achievements in the future, if the management of the company gets along well with the new generation, understand them and address strongly to the values that generation Y follows
Trang 19Figure 5 Nielsen Vietnam workforce by age & generation
(Source: Nielsen Vietnam Human Resources) Moreover, as mentioned, people in the commercial function are valuable assets of Nielsen Vietnam, so the below data points need to be looked into carefully by the management in order not to miss any important and insightful information for further action The figure 5 provided
by Human resources of Nielsen Vietnam shows us the majority of the workforce in Commercial team is generation Y In particular, among 727 employees of Commercial function, which was updated in 2016, 579 employees are Millennials, account for 80% over Commercial function employees Based on the population information of Nielsen Vietnam in general and commercial function, it is easy to conclude that Nielsen Vietnam is a young, dynamic and active generation Getting to know about them is the critical and required actions that Nielsen Vietnam management needs to take, in order to make sure that the business runs smoothly and gain the great achievements in the future and in the long run
Trang 20Figure 6 Nielsen Vietnam workforce by age & generation – Commercial Function
(Source: Nielsen Vietnam Human Resources) However, the point is that from the secondary data, in the last three years and first half of 2016, the percentage of leavers in commercial team of Nielsen Vietnam has been increasing and as the result, the majority of leavers are Millennials Firstly, when looking into the turnover rate of total Nielsen Vietnam, the overall percentage is quite competitive in the market research market, even the number of leavers in commercials team was many The reason is that the number of Operation team is huge, which is more than one thousand associates, accounts for 70% of the total employees of Nielsen Vietnam, also the number of people leaving operations was not many Therefore, the denominator of total employees can cover partly for the numerator of the Commercial leavers In specific, the turnover rate of Nielsen Vietnam from
2013 to annualized 2016 was pretty stable, with 21.92% in the year of 2013, 13.07% in 2014, 13.34% in 2015 and 17.58% annualized in 2016 However, when looking deeply into the turnover rate of Commercial functions over the total turnover rate of Nielsen Vietnam is high
Trang 21Specifically, turnover rate of commercial function was 63.02% in 2013, 52.56% in 2014, 67.42% in 2015 and 69.01% annualized 2016 This trend marks the urgent signals to management board of Nielsen Vietnam to take the required action right now, if this trend continues, the business will be in the big trouble
Table 3 Analytics of Commercial function’s turnover rate
(Source: Nielsen Vietnam Human Resources) More seriously, as a result, the percentage of Millennials leavers was significant high than expected Particularly, 93.01% over total leavers in commercial functions were Millennials in
2013, 88.08% in 2014, 94.12% in 2015 and 95.23% annualized in 2016 It is so dangerous as from one side, the human resources recruiter tried to get people, especially generation Y in the team, which follows the recruitment strategy was released However, from another side, they consecutively resigned and decided to leave the company From that, it causes the big trouble to Nielsen Vietnam, if they do not really look into the data, get the insights and solve the issues right away
Trang 22Moreover, doing the deep analysis on the average length of stay, or people can call it as
“Tenure”, it reflects the issues even more serious than estimated Firstly, when looking into the data of Existing Millennials, tenure with Nielsen Vietnam in general is more than 3 years and a half throughout 4 years (from 2013 to June, 2016), which looks quite good and stable for generation Y in Nielsen Vietnam Once again, the operation team did support to rescue the overall situation of Nielsen Vietnam However, by looking at the information of commercial function, the number of years staying with Nielsen Vietnam of commercial Millennial has been decreasing and has a big gap when comparing with the overall tenure with Nielsen Vietnam
Table 4 Analytics of tenure of existing millennials
(Source: Nielsen Vietnam Human Resources) Secondly, when looking into the data of Millennials leavers, the tenure with Nielsen Vietnam was more than 2 years In particular, the tenure with Nielsen of Millennials leavers was 2 years and 5 months in 2013, 2 years and 7 months in 2014, 2 years and 6 months in 2015 and 2 years and 6 month annualized in 2016 From these data points, it is pretty fine and acceptable, compared with the research about the millennial turnover in the market and in the market research industry and sharing from senior leaders and experts in Human resources in the
Millennials turnover status in the market research service industry part as above However, it
should be an issue when looking into the data points of commercial millennial leavers, the
Trang 23tenure with Nielsen of Millennials leavers was 2 years in 2013, 1 year and 11 months in 2014, 1 year and 6 months in 2015, and 1 year and 6 months annualized 2016 It is far from the number which reflected the market information (2 years and a half), so it is urgent and required action that Nielsen Vietnam board of management needs to reflect, take care and give the suitable solution to make sure that Nielsen Vietnam recruits the right people and knows how to retain them in the company
Table 5 Analytics of tenure of Millennials leavers
(Source: Nielsen Vietnam Human Resources)
The Millennials turnover is high, so the remaining people not only cover the current workload
of the leavers; but also work on the new projects to try to keep the revenue green Due to that reason, they firstly could not balance their work and life
The security of Nielsen Vietnam said that: “They are usually on phone with clients even very late at night or very early in the morning; Moreover, they often stay at the office until the midnight to complete the request of the clients, which delivered to client immediately.”
Besides that, they could not arrange time to join in any engagement activities of the company because they think they need to focus on the more important thing and they feel like the activity
Trang 24is not relevant to them The evidence is that 80% members of Commercial team did not join in the engagement activities based on the tracking of the event organizers of Nielsen Vietnam Due to that situation, they feel like they are not engaged with the company
Moreover, they were lack of engagement with managers and caring from managers In this tough situation, all members, including managers have mainly focused on the operations, the clients, revenue and really don’t care about the experience of associates in the team They had less time to interact with each other At Nielsen, we have Check In session occurred quarterly
In that session, manager and associates need to sit together and talk about the performance an experience at Nielsen and will be tracked in the MyCareer system However, the system shows that 79% (in quarter 3 of 2015), 83% (in quarter 4 of 2015) and 82% (in the quarter 1 of 2016)
of Check In sessions haven’t organized
And finally, they feel like they are paid unfair They have worked so hard and contributed their time and efforts into the current works, and even cover for the other’s job when the team lacks
of human resources They perform much excess than the pay that they get and they feel unfair
at that time Ms Quyen – Human Resources Senior Executive, in charge of Compensation & Benefit function, said that they compare the real income that they receive and the salary that other companies pay and compare the workload among many companies and decided to leave Nielsen
From those factors, they have trend to leave the company, even active or passive, which impacts on the company’s cost and impacts very much on the company’s business (lost many talents) Moreover, they are the top talented researchers in Vietnam, so if they move to work for the competitors, the Nielsen’s leading position in the market research field won’t be guaranteed
One more important point, even though commercial employees have put effort to keep the revenue green, the revenue in Quarter 2 and 3 of 2015 and quarter 1 of 2016 has not yet been optimistic as lack of resources and lack of working spirit In the Townhall, Mr Warren Fanendes from Consumer Insights Associate Director of Nielsen Vietnam said that this situation is very challenging for commercial function - Consumer Insights team; it will be such huge efforts from all the remaining people who have stayed in the team and keep contributing
Trang 25The team really needs the great support from the existing people who help to push the projects not to be delayed, as some of the projects have been delayed in around 1 week, which impact very much on the Nielsen Vietnam’s reputation
In that situation, the management decided to look for solutions to make the organization operate more efficiently and achieve financial targets In order to obtain that target, we need to deeply understand about the Millennials management and development However, first of all,
we need to explore about the reasons why Millennials leave the company, what are the pain points, why Millennials stay in the company, what are the good points and enhance the level of organization retention in Nielsen Vietnam
Based on the above discussion, this study focuses on Millennials, look for leaving reasons, solutions and prove them efficient in applying into Nielsen Vietnam problem
This study approach utilized the qualitative method including secondary data from Finance and Human Resource Department and in-depth interviews from different groups of respondent, such as: senior leaders or Millennials who are currently working for the company, Millennials who already left, Millennials who returned to work for the company after leaving duration and Millennials who intend to leave Nielsen, but then decided to stay
3 PROBLEM IDENTIFICATION
Based on the data points provided by Human Resources of Nielsen Vietnam, the exit interviews and exit survey reports show clearly about the key reasons why people were leaving Nielsen Vietnam The exit interviews were conducted by Human Resources Business Partner
of each Business Unit once any employee decided to leave Nielsen Vietnam At the same time, the compulsory exit surveys from the system would be sent to employees who were going to leave Nielsen Vietnam in order to ask them about their decision to leave and their experience working at Nielsen Vietnam The survey, which was conducted by the third party-CLC Human Resources, will help on improving the experience of the employees at Nielsen Vietnam onward No data points would be provided back to Nielsen Viet Nam in order to ensure full confidentiality; it is used to support for the Nielsen Experience analytics only That’s the reason why people would be more honest and candid in their response
Trang 26After doing to some analysis and summary from the exit interviews conducted by Human Resources Business Partner and the exit surveys summarized from the third CLC Human Resources, they both had clearly showed the facts about the reasons why Millennials left Nielsen Vietnam in 2015 and first haft in 2016
First of all, having a look at the Exit Interviews Report provided by Human Resources of Nielsen Vietnam, the key reasons that people were leaving are showed as following And the trend has not changed significantly from 2015 to Q2 of 2016
Figure 7 Exit Interview Report in 2015 – Commercial Function
(Source: Nielsen Vietnam Human Resources)
Trang 27Figure 8 Exit Interview Report in Q1&Q2, 2016 – Commercial Function
(Source: Nielsen Vietnam Human Resources)
Secondly, having a look at the Exit Survey Report provided by CLC Human Resources, the key reasons for departure shows that the trend is not significant different from it showed in the Exit Interviews which were conducted by Human Resources Business Partner The details of the Exit Survey Report in 2015 and updated in Q2 2016 had indicated the consistent trend of Millennials in Commercial team which showed as following
Trang 28Table 6 Exit Survey Report in 2015 – Commercial team
(Source: CLC Human Resources)
Table 7 Exit Survey Report in 2015 – Commercial team
(Source: CLC Human Resources)
By looking at the data points provided by Human Resources of Nielsen Vietnam and CLC Human Resources, it is important to show the key reasons for Millennials leaving the company
Trang 29were: Work-life balance, Compensation, Leadership, Better career opportunity, Management, Respect, Senior Leader Reputation, Recognition
Even there were some other factors impacted to the decision to leave Nielsen Vietnam of Millennials leavers, it showed with the low percentage, which slightly impact to the decision only Therefore, they will be not focused and mentioned in this thesis Due to the time limitation, those above factors will be focused to analysis and get the insights out
Moreover, in order to make the study more effective, clearer and convinced, together with the supporting theories, researches and the most updated analytics from Nielsen Vietnam and CLC Human Resources, 8 in-depth interviews were conducted with four main groups mentioned as above, with details as below:
- The first group includes those who are currently working for the company such as: Human Resources Manager, Human Resources Senior Executive and Commercial employees in Nielsen Vietnam;
- The second groups includes those who are Millennials in Commercial function, who already left Nielsen Vietnam six months ago and one years ago
- The third group includes Millennials in Commercial function, who returned to work for Nielsen Vietnam after leaving for around one year and a half
- The fourth group includes Millennials in Commercial function, who intended to leave Nielsen Vietnam, but then decided to stay
After doing the researches and explore the reality, they are some key reasons leading to the high turnover of Millennials in Commercial team from Nielsen Vietnam including: Work-life balance; Compensation & benefits; Engagement; Leadership style & reaching the career goal quickly
Factor of Work-life balance:
Nielsen is known as the leading market research in Vietnam and in all over the world However, it is not good to know that Nielsen is mentioned as the most pressure company in this industry as well “Work-life” balance issue was led by current workload because team lack
of team members, team members’ work flow, job management skills, work effectiveness ability and they didn’t get outside support and keep everything in themselves
Trang 30Firstly, regarding to the current workload due to lack of people in the team, when the human resources in the team cannot cover for the current workload of all projects, team members who stay, need to work overnight, over weekend In addition, based on the quality of the project that Nielsen used to deliver and Nielsen’s reputation, more projects to come From that, time
by time, the existing employees, not only put all efforts on their works, but also, spend all of their time on their works; in order to make sure that it does not impact to the clients They feel like they cannot manage their time for personal stuffs Even when the Human Resources have put much effort, they cannot get the right people come and join the team at the right time Secondly, regarding to the time & task management skills, people in the team cannot arrange their time to join in the training session conducted by the company They focused too much on their works and ignore all training sessions scheduled for them From that, time by time, the skills of managing time and tasks are limited From that, lacking of skills leads to the work-life balance issue Therefore, It is required that the company should release some of the strategies
to make sure that all commercial employees have chance to equip themselves with the required skills
Thirdly, for the Millennials generation, they don’t want to be evaluated low, so they would not ask for supports from others They want to prove that they are good enough to solve all requests & issues From that perspective, it leads to the work-life balance issue as they have not shared their difficulties and asked for help from others, including: senior leaders & co-workers
Lastly, for the work effectiveness ability of the commercial employees, due to the urgent recruitment request from the department, Recruiters have tried to fill the vacancies However, the quality of the candidate is not that high, for both hard & soft skills It takes some times for new hires to catch up with the team and get trained from senior leaders However, at this stage, once people in the team run for the business revenue, no one can save time for the training It means that new joiners cannot meet the required work effectiveness ability, from that, the existing employees need to cover for the workload of the team This is one of the main key reason lead to the team spirit and the work-life balance issue
Trang 31For people who are currently work for Nielsen Vietnam, including Mrs Vo Thi Thu Nguyet - Human Resources Manager of Nielsen Vietnam, Ms Dinh Thi Ngoc Quyen - Human Resources Senior Executive and Ms Pham Hoai Nga - commercial function Executive indicate that the reason the Millennials left Nielsen as the high work load leading to the work-life balance issue, when Human Resources is keeping recruiting to fill up some vacancies, the remaining people needs to cover for other’s job scope for quite long time, make them feel that they cannot balance their work and life In details, Mrs Vo Thi Thu Nguyet stated that “The reasons that Millennials left Nielsen are: high work load leading to the work-life balance issue, low engagement in the team, and they feel that they are lack of the support from the managers” One of the important point is that very few of them left for competitors, many of them left for their clients, who had been working with them closely every day The clients have opportunities to evaluate their ability, knowledge, skills very often, so when clients have the suitable vacancy, they will approach Nielseners directly
For people who already left the company, Ms Nguyen Thi Ngoc Lan - Business Development Department at VP Bank shared about the biggest reason she left after 3 years working for Nielsen was the workload leads to the work life was not balance at that time She had tried for
a long time, the motivation was very high in the beginning, but then when the workload was so high, she could not arrange for her “me” time and family time, so she decided to leave And
Mr Tran Thanh Tung - Market Analytics for Supermarket system already mentioned about that factor as one of the main reasons for him to leave the Nielsen Vietnam as well
For people who intended to leave but then decided to stay in Nielsen Vietnam, Mr Nguyen Tan Tai - Commercial Function Executive, he shared about the biggest reason he intended to leave Nielsen Vietnam at that time was the workload and the work pressure, he could not manage his time well, so that he doesn’t have time for the personal life, even he loves the job
so much He shared the difficulties with the manager and the manager approves to recruit trainee to support for him
Corporate Leadership Council stated that Millennials to re-evaluate their life priorities and choose work that allows them to make their personal lives a priority.14 Given their higher levels of education, Millennials are more likely to negotiate the terms under which they work,
Trang 32and demand work life balance at every stage of their careers If they cannot make it, they will decide to leave the company sooner or later
Factor of Compensation & Benefits:
Compensation & Benefits Issue was led by comparing with other companies paying, not understanding the full package of benefits in Nielsen and receiving a higher salary offer from competitors or clients
Firstly, the turnover over issue is led by comparing with other companies paying When they have communicated about their compensation & benefits with their friends, their outside relationship from other industries, other companies, they have thought that Nielsen pays unfair They thought that with their skills, they can earn more than the current one
Secondly, due to lack of understanding about the full package of compensation & benefits in Nielsen, they have compared the salary that they have currently received from Nielsen, not yet considered other factors and long-term business
Lastly, Nielsen employees show their strong ability when working with clients From that, the clients approached directly to them with the offers They do the comparison between the current package that they have and the offer that they received the clients They do the comparison between the workload between that at this stage and the anticipation in the future They do compare the level and the career roadmap in the future if they stay in Nielsen and if they leave
For people who currently work for Nielsen Vietnam, they shared that many of them left for their clients as they received the offer with better compensation and benefits from the clients who they are directly working with The clients have opportunities to evaluate their ability, knowledge, skills very often, so when clients have the suitable vacancy, they will approach Nielseners directly Ms Dinh Thi Ngoc Quyen - Human Resources Senior Executive stated that:
The reasons that Millennials left Nielsen are: Compensation, Learning Opportunity, Work-life balance, career goal quickly reaching, individual Emotional Condition control Many of them left the company
as they received the offer with better compensation and benefits from the clients that they are directly working with
Trang 33For people who already left the company, once receiving the offer from clients, they decided to leave, not because they don’t love Nielsen working environment, just because they can offer what they really need That’s the matter of priorities Mr Tran Thanh Tung - Market Analytics for Supermarket system (has left for 1 year) He shared about :
The biggest reason I left after 2 years working for Nielsen was the Compensation I would like to find a job which meets my expectation about the salary so that I can cover for my life and I used to feel that I needed to work so hard but the salary is not fair I need to prioritize things based on my demand and my family’s demands
Based on the Organizational Equilibrium theory (OET), Mowday et al15 stated that Employee Turnover occurs when individuals perceive that their contributions to an organization exceed the inducements they received from that organization When an employee cannot get satisfaction, he or she will withhold or withdraw his contributions and will separate from the organization According to this theory, employees are looking from the organization to provide incentive that balance their contribution This indicates when the incentive offered by the organization to the employees is less than their contribution, employees become dissatisfied with the inducement and this leads to turnover
Corporate Leadership Council stated that Millennials also appear to have high expectations when it comes to promotions and pay raises.14 This “impatient to succeed” attitude has resulted
in an expectation for instant rewards rather than ‘‘paying dues”, which the Gen Xers have had
to endure When they do not see the quick rewards at one firm, Millennials will move to an employer that provides greater opportunities
Eddy et al.14 noted that expectation of good pay and benefits may also reflect the sense of entitlement that persists among Millennials As well, Corporate Leadership Councilstated that
in a recent study, pay was found to be the single most important motivational factor for the Millennials.10
Factor of Engagement:
Millennials in commercial team feel that they cannot engage with other people, other functions
or even their manager in the company They feel like those activities are not relevant to their expectation and their interests Moreover, they are busy with the requests from the clients, they cannot find the time to engage with others As well, Millennials from Commercial team is
Trang 34good, in term of knowledge, skills, so they have trend to separate themselves from others, they feel like the engagement activities organized from the company are not interesting enough One of the main points is that they cannot engage with their line manager, who really helps them in their development plan As they are Millennials and they are talented, so they will be overconfident about themselves and feel like they can do everything with or without the supports from the managers Therefore, It is required for people manager to really look at the engagement of the team, in order to ensure the working environment and the relationship among members in team and other teams as well Mr Nguyen Huu Thi - Commercial function Manager He has been working for the company for 2 years and currently, he is managing 8 members He stated that:
The reasons that Millennials left Nielsen are: Job satisfaction, Compensation, Career development and especially, team engagement They are with different characteristics, with different backgrounds, so it is very hard for them to engage From that, they build a wall to other members
Based on the Met Expectation theory; Employees’ expectations may include good relationship with colleagues and supervisors, suitable working environment, and appropriate work assignment Therefore, people will leave when the employer fails to meet the employee’s expectation about the engagement in relationship and works
For a Millennials, the ideal job will appeal to their core characteristics In order for them to enjoy a given job, they must find the experience interesting and feel engaged beyond the office work.16
Based on the Modified version of Hackman & Oldham’s Job Characteristics Model, the reasons that they leave the jobs are they lack of internal work motivation, job satisfaction and low work effectiveness.17 Internal work motivation may come from coworkers, managers, global team, and regional team If employees can feel the motivation throughout their works every day, it should be the big motivation for them to continue contributing to the company When they lose the motivation, they would not satisfy with their current tasks and jobs, leading
to the low work effectiveness At the stage of performing not well, they actively ask to leave the company or they will be fired passively
Trang 35Factor of Reaching career goal quickly:
Millennials are not patient as the previous generations, they value title and would like to reach the career goal as soon as possible They are not patient to wait for better opportunities in the current company and hunger for the opportunities in other companies with better titles and feel like they can reach to their career goal that soon Ms Dinh Thi Ngoc Quyen - Human Resources Senior Executive stated that:
Meaning that they are not patient to wait for the opportunity and we have some steps to support For example, to get that position, what is the timeframe needed, and they are patient to wait for it For example, we have one associate with the level of senior Executive, and in the timeframe in 1 more year,
he may become the manager However, he is not patient to wait for that opportunity And he looks out there with the opportunity to get the title of manager
Factor of Leadership style:
Leader is one of the important factors for employee to go to work every day Millennials respect manager who can provide them valuable advices, great knowledge and can give them chance to be different from others From that, they expect from their manager more than that from previous generations The reasons are lacking the recognition, not caring about the L&D
of employees and they were treated unfairly Mr Nguyen Huu Thi mentioned a little bit about leadership style, which is mentioned importantly to Millennials He stated that: “Leadership style is one the important factor, It may come from lack of recognition, treat unfair or overload specific employee It should be a journey for the company to improve and make a change” Eddy et al.14 stated that when Millennials trust their manager and feel supported, it increases their job satisfaction Higher satisfaction can result in lower turnover and vice versa; lower satisfaction can result in higher turnover
Besides that, based on Turnover literatures, the theoretical framework, it indicates some of the key points which relating to the reasons Millennials leave the organization for further
consideration Mobley18 stated that one major factor is considered by job dissatisfaction is the cause for high voluntary employee turnover They are not satisfied on their current job, current tasks, which do not create the motivation for them to put efforts on works Therefore, they would get bored with their job and decide to leave for another organization Lee et al.19 said that Job embeddedness can be work related or non-work related Once the relation in
Trang 36workplace cannot be what they are expecting, they will find some other reasons to leave the company
Especially, some people think that the salary is the most important factor to any worker, but many of them state that if the company offers for the better health benefits, it would be the great factor to consider Lee et al.20 discussed that psychological paths is the main reasons leading to the high turnover rate In specific, they are organizational culture, employee morale, social capital and organizational memory From that, it is stated that creating the good working environment, team spirit will help on retaining the talents at the company Thompson et al.21stated that they are also looking for work that is meaningful and fulfilling Millennials are increasingly looking at a company’s values and mission and want to work for those firms that
go beyond simply making money
Trang 37Together with the Turnover literatures & theoretical framework; Millennials Turnover literatures & theoretical research and 8
in-depth interviews with 4 main different groups, the following cause-and-effect tree with main content and reasons has just been created
Millennials Employee Turnover
WORK-LIFE BALANCE
LEADERSHIP
COMPENSATION REACHING CAREER
GOAL QUICKLY ENGAGEMENT
High workload due to lacking of people
Lacking of time & task management skills
Lack of recognition
Unfair treat
Lack of taking care about L&D of the employees
Don’t get supports from managers & others
The working effectiveness of the employees
Compare with other companies paying
Don’t understand the full Package of benefits in Nielsen
Receive higher offer from Competitor/ client
No engagement with managers
No engagement
with other functions
Figure 9: Cause and effect Tree
Work Allocation by the managers
Lower performance and working spirit of existing employees
Negative impact to Nielsen Business Growth
Negative impact to Nielsen
Reputation
Lower foundation Knowledge base
Costing on company time, money and other resources
Trang 38Based on the above Cause-and-effect tree, and the exit surveys, interviews provided by Human Resources department and the CLC Human Resources Organization and the in-depth interviews with eight respondents from four different groups, among five big above factors, it
is important to realize that biggest factors that Millennials of Commercial field decided to leave Nielsen Vietnam are: Work-life balance and the Compensation & benefits For these two factors, it also showed the highest percentage in the Exit Interview report and the Exit Survey report as well Moreover, it is more accurate when these factors consistently showed with the high percentage through the year of 2015 & first half of 2016, locally & globally
Due to the emergency and the importance of the factors, It is urgently required the management of Nielsen Vietnam and the people manager to release the suitable strategy in order to solve the issue immediately For work-life balance factor, if the situation continue happening, the business operations of Nielsen Vietnam will be significantly impacted The management team needs to do some urgent actions so as to reorganize the workload in the team to ensure the business will not be impacted Most of the people joining in the in-depth interviews, both existing employees or leavers, address the key reason leading to the Millennial turnover is Work-life balance, which the Millennials value the most For compensation & benefits, it was led by comparing with other companies paying, not understanding the full package of benefits in Nielsen and receiving a higher salary offer from competitors or clients It is also the critical issue that board of director of Nielsen in general & Nielsen Vietnam needs to really look at, so that we can be ensure that we pay at par with the market and at par with companies in the same industry Some strategies which is relating to the compensation & benefits need to be released in order to attract the right talents and retain the talents as well
For those who joined the In-depth interviews - those who are currently working for Nielsen Vietnam; those who already left Nielsen Vietnam six months ago and one years ago, who returned to work for Nielsen Vietnam after leaving for around one year and a half, who intended to leave Nielsen Vietnam, but then decided to stay, all of them again strongly shared their ideas on those factors of work-life balance & Compensation were the two factors impacts
Trang 39to the reasons people were leaving the company based on their real experience, their observation, their management experience
It is not correct to say that the three rest issues factors are not important, but comparing with the two above issues, it is less urgent and based on the reality in Nielsen Vietnam, those three factors are not the key reasons leading to the Millennials turnover issue Respondents joining
in the in-depth interviews did not mention a lot about those three factors and they are not the top of mind idea from their ends Moreover, it was showed with the low percentage in the exit survey conducted by CLC Human Resources, which were kept secret and not disclosure - From that, the leavers will have more room to show their experience, their ideas and suggestion about the issue
Specifically, for the leadership, it used to be the biggest factor impact to the high turnover rate
in Nielsen in around 5 to 7 years ago, and it was gradually solved day by day with the strategy released by the management team and some important actions implemented by manager level
in order to make our employees happier and more motivated Even it is mentioned in some cases, but it is not the critical part anymore and shows positive improvement with the strong message from the board of directors at Nielsen and the serious action from manager as well And the data points showed above in the exit survey reports and exit interview reports in 2015
& 2016 can prove it For Engagement, they feel that they cannot engage with the activities in the company as they cannot allocate their time for those activities and from that, they feel like those activities are not the priorities compared with the requests from the clients Instead of creating and maintaining the relationship with other functions, they do not have enough time to
do so, the engagement among functions was not that good Moreover, the engagement with the managers also the critical problem, they need to share their performance status and their experience in Nielsen as well so that managers can understand and help them to develop more Given the situation like that, Nielsen has the Check-In session occurred quarterly In that session, manager and associates need to sit together and talk about the performance an experience at Nielsen and will be tracked in the MyCareer system Understanding about the benefits of those sessions, but the number of Check-In sessions was not organized due to the compulsory of the session From that, Global Human Resources team already released the
Trang 40communication to inform that the Check-In session which is conducted every quarter is compulsory and need to capture in the system Based on that, the spirit of engagement between the manager and the employee has been improved a lot From that, employee can feel the caring from the company and it shows more details about the outcome in the exit interviews and exit survey reports, which shows the lower percentage in the reasons why employee decided to leave Nielsen Vietnam Moreover, it was not mentioned much in the in-depth interviews, which provide the positive signs to this issue For reaching career goal quickly, it is one of the main topics which was compulsory mentioned in the Check-In session (part of Experience sharing), which give the employees the clear career orientation so that the perspective about reaching career goal quickly in Nielsen has been reduced a little bit Even it was mentioned in the reports conducted by Nielsen Vietnam and the in-depth interviews, but it shows the improvement day by day
Those three factors mentioned above were being tentatively solved and would be left a little bit later to solve due to the emergency and now it is time to focus on the 2 main key factors, including: Work-Life Balance and a part of Compensation and Benefits However, mentioning about Compensation & Benefits factor, this is the issue that cannot be solved immediately and cannot be solved in the local level as it is relating to the global management team, which may impact to employees from more than 100 countries all around the world In some cases, we can adjust the compensation and benefits for some special employees time by time, but if it is the action applied for all employees in the company, it should have created the bigger issue for the company To deal with such a sensitive issue like the compensation & benefits, it takes some time to really look into the problem, from the employee’s perspective and the company strategy as well
Based on the above information, analysis and the current status, it is clear to see the big part of Work-life balance and Compensation & Benefits which impact to the reasons that people have been leaving However, based on the emergency and the possibility, the Work-life Balance which plays the big part in the reasons that people are leaving, which showed in the exit survey, interview reports and in-depth interviews, will be the big focus in this thesis