DỰA vào các học THUYẾT PHÂN TÍCH các NHÂN tố ẢNH HƯỞNG đến GIỮ CHÂN NGƯỜI LAO ĐỘNG TRONG CÔNG TY e

DỰA VÀO CÁC HỌC THUYẾT PHÂN TÍCH CÁC NHÂN TỐ ẢNH HƯỞNG ĐẾN GIỮ CHÂN NGƯỜI LAO ĐỘNG TRONG CÔNG TY FACTORS INFLUENCING THE EMPLOYEES RETAINING IN ORGANIZATIONS CONTENTS Part I Maslow Hierarchy of needs and Vroom’s Expectancy Theory, Porter&Lawelr’s Expectancy Theory .2 Maslow Hierarchy of needs .2 Vroom’s Expectancy Theory, Porter & Lawler’s Expectancy Theory Part II Human Resource At Construction Companies .5 Analyzing the needs and factors influencing the leaving decision of employees at construction companies Analyzing the needs and factors influencing the leaving decision of employees at construction companies Part III Strategies To Retain Talented Empoyees Assuring that the jobs are appropriate with the employees Emphasizing the importance of the employees to the company Creating attractive challenge Recognition and worthwhile rewarding Building and maintaining good relationships with employees 10 Paying attention to work-life balance and personal life of employees .10 Connecting the employee’s efforts with their respective goals 10 Maintaining good relationships with the employees who leave the company 11 Part IV Conclusion 12 Part I MASLOW HIERARCHY OF NEEDS AND VROOM’s EXPECTANCY THEORY, PORTER&LAWELR’s EXPECTANCY THEORY Maslow Hierarchy of needs Maslow's hierarchy of needs was proposed by psychology professor – Abraham Maslow in his 1943 paper “A theory of Human Motivation” and has become one of the most important theories in Business Management According to Maslow’s theory, basically, human needs are divided into main groups: basic needs and Meta needs Basic needs involves human’s physiological needs i.e food, water, sleep, shelter etc These are fundamental needs In the absence of these needs, human cannot survive thus they would fight to have these and survive Higher-levels needs are called Meta needs These needs involves psychological factors i.e demanding for fairness, care, happiness, social status, respect, individual recognition Basic needs are usually prioritized to be satisfied first then the Meta needs go after For any particular human, without food and water and other basic needs, they will not care about needs for beauty and respect There are levels in Maslow hierarchy, in which human needs are listed in a pyramid order Basic needs at the lower levels of the hierarchy need to be met first before pertaining to higher level needs Higher level needs will arise and will grow stronger upon the satisfaction of lower-level stages in Maslow’s hierarchy of needs  First level: physiological needs – water, food, shelter, sex, breath, digestion Second level: safety needs – This includes personal security, financial security,  health security, Safety net against accidents/illness and their adverse impacts Third level: Love/Belonging needs - interpersonal and involve feelings of  belongingness Humans need to feel a sense of belonging and acceptance They need a happy family and reliable friends Fourth level: esteem needs - This involves the need to be respected, accepted and  trusted Fifth level: self-actualization - This level of need pertains to what a person's full  potential is and realizing that potential Maslow describes this desire as the desire to become more and more what one is, to become everything that one is capable of becoming Vroom’s expectancy theory, Porter & Lawler’s expectancy theory A person will decide to behave or act in a certain way because they are motivated to select a specific behavior over other behaviors due to what they expect the result of that selected behavior will be This is the main content of the Expectancy theory proposed by Professor Victor Vroom – Professor at Yale school of management – Yale university in 1964 This theory was later added, edited and completed by scholars – Porter & Lawer in 1968 It has become the most important theory in the theory of Organizational Behavior, complementing for Maslow hierarchy theory Expectancy theory is based on the following formula: Expectancy x Instrumentality x Valence = Motivational Force *, Instrumentality (Reward) = Instrumentality is the belief that a person will receive a reward if the performance expectation is met (What is my reward?) *, Expectancy (Performance) Expectancy is the belief that one's effort will result in attainment of desired performance goals (How and what I should to complete the goal) *, Valence (niềm tin) = Valence is the belief that one will be rewarded upon their completion of goals and tasks (if the employers will recognize my efforts) The outcome of these factors/variables is motivational force This is the source of strength, which the leaders can apply to lead an organization in the way to meet its goals/objectives When an employee wants to be promoted, the promotion would be highly attracted to that employee If an employee believes that if h/she does a good job on a timely manner, then h/she will be appreciated; it means that this employee has high expectation However, if it comes to the knowledge of that employee that the company will seek from external source to fill in the vacant position or managerial position rather than seeking from internal source, that employee would have low instrumentality and it will be more difficult to motivate this employee for better performance V.Vroom model was edited and added In the process of forming and pushing motivation, there are basic factors: encouragement, effort, effectiveness and reward It is of the manager’s expectation that this process go continuously without interruption Porter & Lawer’s expectancy theory There are steps in the process of Expectancy theory: Effort  Performance  Outcome In order to achieve the best result, the following methods can be applied: *, Increase expectation from effort to performance *, Increase expectation from performance to outcome *, Increase satisfaction Part II HUMAN RESOURCE AT CONSTRUCTION COMPANIES The position of human resource at construction companies 1.1 The role of human resource It is common that the first reaction of companies upon confronting difficulties is cut down human resource cost It is expected that the lay-off and cut-down salary would work in the difficult times This is one of the biggest misunderstanding in construction companies, especially in specialized construction companies i.e hydroelectricity and industrial construction It takes quite a long time for a worker to excel the skill of running crane equipment or an advanced drilling machine which is worth billions of VND It takes years to complete the course of technical worker, at least more years to work as a supporting worker and a bunch of other expenses due to machine error, wrong way of processing, and the expense of failing the targeted schedule if that employee quit the job It also takes a lot of time, money and human resource to replace a key engineer in charge if a construction site This can consequently lead to the failure of meeting the quality and time requirement, and worsely, the company might have to compensate for customers For senior manager positions, the failure in retaining talented staff might result in the disintegration of departments and teams Such damages are more than enough to make the leaders understand that human resource is the most treasured asset in an organization 1.2 Actual facts at construction companies a, Human Resource: The human resource for construction companies are mainly from Vietnam The workers qualify from school for technical workers of which the course lasts from 1.5 to years Technical/Business/Financial managers might be recruited from colleges and universities For those specialized fields i.e subway, nuclear electricity, highly-precise industry, after recruiting, the company has to conduct overseas training course, which is very costly Besides, the company has to pay other additional cost due to the weak performance of the new employees when they are newly recruited Usually, it takes from to years for workers running machines at construction site to excel their job For engineers and accountant, it takes from to years to be really confident with their job For managerial position i.e directors, managers, it takes to 10 years to train one b, Infrastructure: It is a striking characteristic of Construction Company that their works are associated with the construction sites With advanced equipment as currently, the construction time has been shortened significantly, thus the infrastructure for employees is usually just temporary For hydroelectric site, the time lapse for building and usage is usually years On the other hand, these construction sites are often located at remote areas, which the electric/ water / transportation /school /hospital infrastructure is not satisfactory These issues influences quite significantly to the lives of those workers working there c, Working environment: Outcome is the best measurement for the worker’s capabilities and performances at construction sites The job of each individual is an integral part of an agreed plan which details the targeted completion date to meet customer’s requirements Highpressure working environment creates opportunities for all employees to work and achieve the targeted position and desired salary by their own capabilities, yet they would be left out if failing to meet the job’s requirements d, Working time policy: Working time of workers at construction sites depend on the targeted completion date for the site Depending on the characteristics of the sites, basically, the construction jobs need to be conducted continuously, regardless of days and nights to guarantee that the work is being done in accordance with the plan For example, the work at hydroelectric construction site is often divided into shifts per day e, Salary and remuneration policy: Depending on the characteristics of each company and each construction site, the employee’s income varies based on the performance of each individual In times of economy difficulties, construction industry is severely influenced The majority of construction sites confront the insufficiency of capital, which leads to delay and interruption Therefore, maintaining stable income for employees is a big challenge for companies f, Social security: Besides the policies regarding pension, social insurance as stipulated by the government, the employees are receiving other allowances i.e regional allowance, poison allowance and other supporting policies depending on the current situation of the company Analyzing the needs and factors influencing the leaving decision of employees at construction companies Understanding the needs of employees at any companies is crucial to build an effective human policy For construction companies, the analyzing is as the following 2.1 Seniors managers After a long time working at the company and achieving key positions, those financial needs, recognition and esteem needs are no longer too important to these groups Their career success guarantees them the respect & recognition of colleagues and financial security Thus, the decision to leave the company might be influenced by the following factors: *, The strategy of the company is no longer suitable: continuous success within a certain scope of work will lead to boredom, declining interest and creativity If the company does not expand its scale and its business fields to bring out new challenges, senior managers might leave the company to seek out for new opportunities in other fields *, The company structure is not transparent and clear in determining responsibilities and rights of managers 2.2 Managers and middle-level staff According to human resource reports of some construction companies, middlelevel staff and managers under the age of 35 belong to the group with highest turnover rate There have been many reasons explaining these i.e family reasons, unsecure finance, not-so-good remuneration package However, there is another reason which arises from the employers, of which they not communicate clearly with employees to make employees understand their roles in the company and their career path in the company 2.3 Direct workers at construction sites For direct workers at construction sites, the most important factor is income In order to have income, job must be available Thus, it is the employer’s job to provide sufficient jobs for workers if the company wants to retain them Part III STRATEGIES TO RETAIN TALENTED EMPOYEES Retaining good employees is among the top priority of the managers, since if the company fails to keep them, the company would face particular difficulties Assuring that the jobs are appropriate with the employees In order to this, the managers should consider the employee’s passion, skills, capability, experience, motivation and desire of the employees Focusing only on making a match between their skills and their jobs is not enough For example, upon realizing that an employee’s skills and experience match with a new job of the company, but he does not seem to be interested with that kind of job, the managers tend to make negative impact on both the employees and the company He would not be motivated to perform the job the best as he can and he might quit because he feels that the company not adequately recognize his ability If a manager assigns a constructing worker to run an excavating machine, it is very likely that the machine will be broken, let alone work accident might happen Emphasizing the importance of the employees to the company The employees will feel more belonging to the company if they feel that their job can have a good contribution to the company’s development One of the reasons making the employees quit the job is that they are not clear about what the company is doing and how their job contributes to the company Insufficiency of information reduces job independence and creativity In the absence of understanding the company’s requirement for them, they will work just at an acceptable level, which then make it difficult for other ones There are many ways to communicate with employees A successful example can be listed as the case of Mr Simon Cooper – President of Ritz Carlton He built a corporate culture at Ritz Carlton, in which the employees are respected and encouraged to better their job and increase their commitment with the company Every morning, every branches of Ritz Carlton spend 15 minutes to share interesting stories, information and tales of good employees, so that the job passion is transferred from managers to employees and gives the employees the chance to know more about each other If you ever visit Ritz Carlton, it will be noticed that Ritz’s employees are happier than those with the same salary at other companies Creating attractive challenge Giving too much favor to an employee or “pampering” them with simple job can make them bored and gradually lose creativity, enthusiasm and motivation for the job John Makerte and “Super Star club” is a good example John Makerte – president of Allied Breweries – beverage group, set requirements for employees to remember frequent customers and their favorite drinks Any bartender who manages to remember the name and drink of 100 customers, h/she will be rewarded with a badge and a bonus and their name will be added to the “Super Star Club” At first, this challenge was thought to be impossible to apply But later on, many employees have been added to the club This has created an enthusiastic working environment in the company Recognition and worthwhile rewarding Loyalty and respect of employees are not mainly decided by money Sometimes, they prefer a public compliment to a bonus To create motivation for a constructing team to complete the job in accordance with the schedule, the director promises to give a bonus of VND20 million if the job is completed on time If the job is completed day earlier, the bonus would be VND30 million and the compliment notice will be spread out to the whole company as well as to other constructing teams That constructing team would be known among the company The bonus is not huge but it is certain that the employee’s feeling for their employer will be lifted And the employers would not have to worry too much about future tasks assigned to this team Building and maintaining good relationships with employees A good working and personal relationship with employees is the key factor to win trust and long-term commitment of the employees Therefore, besides work, it is advised that the managers should spend time sharing with employees about daily life Paying attention to work-life balance and personal life of employees Even though employees are “hens giving golden eggs”, the company should not abuse, exploit them and make them work under high pressure It should not be forgotten that everyone has personal life and the employees would highly appreciate if the employers respect their personal life To those teams working at remote areas, besides assigning tasks, the employers should understand about the living conditions at the working sites There are many factors influencing their decision to quit the job For example, when an employee in charge of financial aspect of the site wants to quit, the managers should find out immediately what makes him want to quit Is it about the income, or family reasons of which he wants to spend time taking care of his family? In such cases, the managers can propose to let him relocate to the company’s head office By doing this, the company can retain the employees and it is certain that after resolving his personal matters, he would be willing to continue the job at the construction site Connecting the employee’s efforts with their respective goals A leader needs to understand what their employees value most What is the employee’s motive to dedicate their capabilities? Promotion, pay rise or satisfying personal hobby/passion? Based on these understanding, a manager can connect the employee’s job with their objectives, which will consequently make them feel that their personal goals will be met if they continue to pertain to this organization It should be noted that retaining employees means that the managers should point out for employees their career path in the organization and this information can be disclosed internally in the company It should be made clear to the employees which 10 positions they can achieve in a detailed time frame and in the fulfillment of particular tasks Upon being fully aware of the career path, they will see the working path more clearly Besides, this will make employees more responsible to their particular job and to the company and will accelerate their dedication to the company Maintaining good relationships with the employees who leave the company It is of no happiness to accept the fact that good employees leave the company However, to true leaders, the way how the company treats the one who leaves is also a way to retain the good employees In some cases, it is common that the employers tend to deny the efforts and dedication of those employees who left and even make it difficult for the employees This is totally a wrong approach Usually, there are cases of which the employees leave the company Firstly, the employees might be highly capable, but the company has no room for them Or else, the employees might no longer be appropriate with the company’s orientation In this case, the lay-off process should be done in compliance with regulations to avoid future conflict Secondly, when a good employees want to quit and the company has done all they can to keep them but not succeed Thus, the best thing the company should is to make their job-switching process easy and quick Besides that remuneration they are entitled to in accordance with regulations, there should be a goodbye party and a small gift to recognize their dedication and serve as sincere thanks of the company for their contribution These gestures would make other employees feel that this company is a good one to work at In addition, this would create a good image of the company in the mind of those employees who quit This can be considered as a good chance to promote the company’s image and attract more talented employees in the future 11 Part IV CONCLUSION Human resource is the most treasured asset of an organization The development of an organization can only be guaranteed by a strong human resource with talented, honest and highly dedicated employees Understanding human’s needs and behaviors to figure out effective strategies of employees retaining is an art in the Organizational Behavior Management, of which the managers need to study and apply flexibly & effectively There have been many studies and theories regarding this field Within the scope of this assignment, it is expected that we would give readers more information and experiences in organizational behavior management in construction companies currently We would like to extend our thanks to MBA PGSM program for providing us with fruitful knowledge of this field End - References: - http://1001vieclam.com/1001vieclam/cam-nang-ntd/thu-hut-nhan-biet-nhantai/bi-quyet-giu-chan-nguoi-tai - http://tamnhin.net/nhansu/4346/Nghe-thuat-dong-vien-nhan-vien-cua-nhungdoanh-nhan-thanh-dat.html - Other relevant document 12 ... basic needs and Meta needs Basic needs involves human’s physiological needs i .e food, water, sleep, shelter etc These are fundamental needs In the absence of these needs, human cannot survive thus... needs for beauty and respect There are levels in Maslow hierarchy, in which human needs are listed in a pyramid order Basic needs at the lower levels of the hierarchy need to be met first before... and reliable friends Fourth level: esteem needs - This involves the need to be respected, accepted and  trusted Fifth level: self-actualization - This level of need pertains to what a person's