Research about job satisfaction relative to expectations of BIDV joint stock commercial bank for invement and development of vietnam

RESEARCH PROJECT (BMBR5103) RESEARCH ABOUT JOB SATISFACTION RELATIVE TO EXPECTATIONS OF BIDV (Joint Stock Commercial Bank for Investment and Development of Vietnam) STUDENT’S FULL NAME : VO THI LAN ANH STUDENT ID : CGS00019890 INTAKE : 9/2015 ADVISOR’S NAME & TITLE : DBA.NGUYEN THE KHAI March 2017 Page Advisor’s assessment Advisor’s signature Page Assurance I hereby pledge to the paper "Assessment of Job Satisfaction of Employees in BIDV" is my own research The figures in this topic are collected and used honestly The results of the study presented in this dissertation are not copied by any dissertation and any text and has not been presented or published in any other research before Page Thank you First of all, I would like to send my sincere thanks to the teachers of the University of Technology, who have taught me and taught me the precious knowledge that underlies this thesis I would like to thank Dr Nguyen The Khai, who has guided me and instructed me to complete my dissertation research I also sincerely thank all colleagues at BIDV for helping me answer the survey questionnaire as a source of data for analysis and results of this thesis Finally, this dissertation is completed with the support and help of friends and family members I would like to thank everyone! Page Contents Abstract I BIDV INTRODUCTION 1.1 About company Scope of business Position Human resources Customers base 1.2 Organizing 1.3 Research problem 10 1.4 Research Object 11 1.5 Research scope 11 1.6 Signification 12 II THE RATIONALE AND PRACTICE OF EMPLOYEE SATISFACTION RESEARCH 14 2.1 Satisfaction 14 2.2 Employee satisfaction of the business 15 2.3 Research methods on satisfaction 17 2.3.1 Research by Foreman Facts 17 2.3.2 Research by Weiss, Dawis, England & Lofquist 17 2.3.3 Research by Smith et al 18 2.3.4 Schemerhon's study 18 2.3.5 Spector's research 18 2.3.6 Comparison of research models 19 2.4 Overview of satisfaction of works and factors affecting work satisfaction 20 2.4.1 Herzberg's Two-Factor Theory (1959) 20 2.4.2 Abraham Maslow's Theory of Needs (1943) 21 2.4.3 Like Maslow's hierarchy of needs theory 21 2.4.4 Victor Vroom's Expectancy Theory (1964) 21 III METHODS RESEARCH 22 3.1 Data collection 22 3.2 Models and discussion studies on satisfaction of employees 26 Page 3.2.1 Recommended research model 26 3.2.2 The hypothesis of the research model proposed 32 3.2.3 Data collection progress 34 IV RESULT 35 4.1 Scale rating by Cronbach Alpha 35 4.2 V Exploratory factor analysis – EFA 36 CONCLUSIONS 41 5.1 Discussion 41 5.2 Restructuring of research and forecast recommendation 44 REFERENCES 46 Page Abstract It can be said, at present, one of the competitive elements between These businesses are the policy to attract talent Bring about Satisfaction for employees becomes more urgent than ever by it Also for the important purpose in the present context is to keep staff To find out the level of satisfaction of banking industry employees for their business and their business is empowering and help banks have a basis to assess the value of their HR policies and corporate image for Labor market For BIDV - a bank focused on exploiting strengths in the human element satisfying both internal and external customers is considered one of the key tasks in the context of fierce competition The open market economy has opened up more and more employment opportunities for foreign workers to enter the country In addition, there are many challenges in human resources such as shortage of middle and high level labor force, labor quality, competitive salary and wage scandal scandal scandal Human resources are an important factor for the success of a business, because, according to experts, competitors can "clone" their strategies, business practices, products and services "Copy" is However, the current recession has led to shrinking revenue, shrinking markets, resulting in many human resources problems.: The rate of brain drain, jumping high: Job hopping is increasing (10-13% per year Page Strike labor increased, resulting in many consequences such as: Manufacturing stagnation does not reach the plan, reputable business damage Productivity and performance decrease: The cause may be due to a lack of confidence in the company's new policy, organizational change, employees feeling insecure about their future In the era of economic integration, the competitiveness is increasingly fierce, human resources play an important role in creating competitive advantage Especially with the development companies like BIDV, want to confirm their position in the market, the more attention must be paid to the satisfaction of employees Therefore, this research was conducted to "Study the satisfaction of employees at BIDV" The research results will help the company to have a scientific basis for the development and implementation of appropriate human resource policies, to overcome difficulties in the current workforce, improve the economy with banks in the region and in the world Page I BIDV INTRODUCTION 1.1 About company Company introduction BIDV was established on 26 April 1957 as the Bank for Construction of Vietnam From 1981 to 1990, it changed its name to the Bank for Investment and Construction of Vietnam In 1990 the bank adopted new name as Bank for Investment and Development Vietnam and had operated under this name until 2012 Since April 27th 2012 to present, it officially has become Joint Stock Commercial Bank for Investment and Delopment of Vietnam Addess of head office: BIDV Tower, No 35 Hang Voi Street, Hoan Kiem District, Hanoi Capital, Vietnam Email: info@bidv.com.vn Scope of business Banking: BIDV has a wealth of experience in Vietnam, providing a full range of modern and convenient banking products and services including deposits, Page loans, trade finance, payment and account services, and card services and among others Insurance: BIDV provides life and non-life insurance product bundles, tailored to the needs of individual customers Securities: BIDV provides a wide range of brokerage services, investment consultancy with the ability of quickly developing a system of order receiving agents nationwide Financial investment: BIDV contributes capital to establish companies for investment in key national projects and takes the lead in a number of significant projects such as Vietnam Aircraft Leasing Company Position BIDV is always at the forefront of implementing major economic and monetary policies of the Government and the State Bank of Vietnam BIDV’s total assets, outstanding loans and deposits in 2015 were higher than those of key competitors, making it the leading bank among commercial banks Human resources With 24,000 officers, employees and financial consultants who are wellqualified and well-trained with full experience and have been accumulated and Page Cobb, French, Van Harrison, and Pinueau (1980) It asks employees to provide responses to parallel sets of items covering four job dimensions One sei of items described the employee perceptions of what is offered by the work environment The other set of responses described what the employee prefers The four job dimensions are job complexity (six item pairs), role ambiguity (four item pairs), responsibility for persons (four item pairs), and quantitative workload (seven item pairs) The items are averaged for each job dimension to obtain a score for the environment (E) and a score for the person (P) Person-environment fit can then be calculated by various methods, such us the absolute value of the difference in the E and P scores Person environment fit correlates with the level of Job Satisfaction relative to expectations Goal and Process clarity (IV3): This measure was developed and tested by Sawyer (1992) It describes dimensions thought to make up role ambiguity One dimension desc clarity about a job’s outcome goals and objectives The other dimer describes clarity or certainty about a job’s process or how it should performed Goal and Process clarity correlates with the level of Job Satisfaction relative to expectation Protestant work ethic (IV4): This measure was developed by Mirels and Garrett (! 971) It uses 19 item to describe the extent to which a respondent agrees with the Protestant work ethic The Protestant work ethic includes regard for diligence about business affairs, not being idle, punctual repayment of credit, being Page 33 frugal in consumption, and not letting money lie idle The Protestant work ethic typical 1; also has been characterized as including emphasis on occupational success, asceticism, and rationality (Furnham, 1990) Mudrack, Mason, and Stepanski (1999) found that the 19 items factored into (he three dimension; emphasizing work, asceticism, and anti-leisure Protestant work ethic correlates with the level of Job Satisfaction relative to expectation 3.2.3 Data collection progress The total number of questionnaires was 270/270 and the total number of questionnaires was 261 After checking, 261 questionnaires were received Statistics show that: the percentage of women accounted for more than 70%; More than 60% of employees have a working time of less than 10 years, suggesting that the age of the bank staff is rather young; 80% of employees in the bank have a college degree or above, but the ratio is still relatively modest; The management team at the bank accounts for less than 10%, so the number of employees is quite large Page 34 IV RESULT 4.1 Scale rating by Cronbach Alpha Scale rating by Cronbach’s Alpha reliability coefficients All scales have a large Cronbach Alpha coefficient (> 0.6) and the total correlation coefficient is greater than 0.3, thus reaching and analyzing the factors Table 4.1 Cronbach’s Alpha Fairness in skill base pay (FSP) has Cronbach's Alpha value of 0.648, Corrected item-total correlation of 0.33 So Fairness in skill matching pay (FSP) is suitable for inclusion in factor analysis Page 35 The Person environment fit (PF) variable has Cronbach's Alpha value of 0.816, Corrected item-total correlation of 0.456 So Person environment fit (PF) is suitable for inclusion in factor analysis The Goal and Process clarity (GPC) value is Cronbach's Alpha of 0.864, Corrected item-total correlation of 0.460 So Goal and Process Clarity (GPC) variables are appropriate for inclusion in factor analysis The Protestant work ethic (PWE) has Cronbach's Alpha value of 0.887, Corrected item-total correlation of 0.366 So Protestant work ethic (PWE) is suitable for inclusion in factor analysis Thus, after evaluating the reliability scale, the model consists of five factors: Fairness in skill base pay (FSP), Person environment fit (PF), Goal and Process clarity (GPC), Protestant work ethic Job Satisfaction relative to expectation These factors will be included in the EFA Discovery Factor Analysis 4.2 Exploratory factor analysis – EFA 4.2.1 Scale of components that affect employee satisfaction The results of the exploratory factor analysis (EFA) theoretical model: Page 36 Table 4.2.1 Correlations Table 42.2 The summation model uses the Enter Model Summary Page 37 Table 4.2.3 The regression results use the Enter Coefficients Based on the results of the EFA analysis, the extracted factors of the Major research hypotheses are required Therefore, the model The study included five variables: Fairness in skill base pay (FSP), Personto-Work Environment (PF), Goal and Process Clarity (GPC), Protestant work ethic (PWE), which was used to measure acceptable job satisfaction Research has systematized the basic rationale for the theoretical basis of employee job satisfaction and the factors that affect employee job satisfaction Based on these theoretical bases, together with previous studies at home and abroad, the author develops a research model that evaluates the factors affecting Satisfied with the work of the staff who have been working at BIDV Page 38 Survey results show that job satisfaction of employees who are working at BIDV is influenced by factors Specifically, all four components work in the same direction Job satisfaction of employees who are working in BIDV is Fairness in skill base pay (FSP), Person environment fit (PF), Goal and process clarity (GPC), Protestant work ethic (PWE) And the Job Satisfaction Model relative to the expectation of employees who have been working for BIDV is: JSRE = 0.862+ (-0.042) * FSP + 0.438 * PF + 0.087* GPC + 0.259 * PWE In particular, the Person environment fit (PF) factor has a Beta factor of 0.438 (the largest), which is most important for Job Satisfaction relative to expectation The Goal and process clarity (GPC) factor with the Beta coefficient of 0.087 (smallest) should have the lowest impact on Job Satisfaction relative to expectation at BIDV In addition, the regression model has a coefficient R SQUARE = 0.357%> with significance level