NhữngnhântốảnhhưởngđếngiữchânngườilaođộngNgânHàngTMCPĐạiDương–Oceanbank Factors affecting employees retention of Ocean Commercial Joint Stock Bank - Oceanbank TABLE OF CONTENTS I GENERAL ARGUMENT Recently, many people have mentioned the trend of "intelligence bleeding" or "job switching" in the companies, which refers to the phenomenon of many competent workers (employees) moving continuously from one firm to another They may be very talented and qualified people or might be people who match this company more than other companies Many viewpoints argue that wages and remuneration is the reason why many people 'leave'; however, in reality, there are many other factors which directly or indirectly affect the leaving of the employees such as the direct influence of the manager or inappropriate job features, impact on health, the training policies In short, the corporate culture, the secter power in maintaining the business is the prerequisite key affecting the quitting of employees II ORGANISATIONAL BEHAVIOUR BEHAVIOUR MANAGEMENT AND – ORGANISATIONAL FACTORS AFFECTING EMPLOYEES RETENTION Definition 1.1 Organisational behaviour To put it simply, organisational behavior studies what people think, feel and act in an organisation (Mc Shane et al., 2005) For example, a frequently absent employee in the organization, does this behavior tell you anything? Is this staff satisfied with his job? How has he thought about the organization that he has done so? That is what the scholars of organizational behavior care about They have conducted researches to find out what factors affect thinking, feeling and action of employees Conclusions drawn from this study are categorized into three main groups: - Each person himself - The group in which that person performs task - The orginisation structure of which the person is a member 1.2 Organisational behaviour management Organisational behavior management include all activities to improve management efficiency, promote the role of human resources in the organisation, optimally exploit the human resources and develop employees’ creativity through explaination, prediction and monitor of the behavior of individuals, groups or organizations We need to study organisational behavior and organisational behavior management because the research will provide us right solutions to solve the conflict, as well as provide the measures to create motivation for employees and build a culture for our own organization From this research,enterprises will have specific measures to "retain" or limit the employee's job quitting Factors affecting employees retention in the organisation Strong human resources not only gives companies a competitive advantage but also act as a key factor determining the success or failure of the firms In the intelligence economy, the competition of enterprises to obtain high quality human resources becomes fiercer than ever Most companies tend to build their own long-term strategies to attract and develop the most talented individuals who can bring about miracle changes, create breakthrough for the enterprise or the ultimate advantage over competitors Attracting talent is a difficult task, but keeping them is an even more challenging mission for business leaders Therefore, in order to determine the way to keep the employees, we need to decide what makes the employees stay with the organisation; in other words, we need to determine factors affecting employee retention - Understanding the needs of the employees: It’s an important factor for companies’ policies to closely connect with the desire and wisheds of the employees When these needs are met, the employees’ satisfaction about their work and the organisation will increase with their dedication The actual activities of successful businesses success reveals that they pay much attention to this factor and consider it as a key strategy to keep the employees - Adequate incentive compensation: understanding the needs of employees is the foundation for companies to create their incentive mechanism to meet the needs of the employees at the maximum level allowed Obviously, the needs of human beings is extremely varied and usually very complex Because of this reason, there are many people argued that it’s impossible to understand and satisfy the needs of workers However it’s an essential job to keep these factors in the context of increasing competition Enterprises will overcome the subjective thinking which argues that wage increases are the most effective measures to keep employees Incentive compensation, in its most definition, includes all salary, bonus, welfare regimes which are tangible and intangible or of material or immaterial, related to physically or mentally to workers and are provided by the company The incentive compensation of companies include direct material benefits, indirect material benefits and the psychological satisfaction for employees The provision of direct and indirect material benefit are what often seen in enterprises The third from is harder to be recognised and there is fewer companies paying attention to this factor in the design and implementation of incentive mechanisms Mental satisfaction of workers is the measure commonly used recently as the economy moved from the industrial to the intelligence form Mental satisfaction of workers is the result of non- material benefits that the employee gets for working for the enterprise A safe, interesting and friendly working environment is the wish of the majority of the employees Moreover, employees will feel more loyal towards the company if their efforts are (1) recognised and appreciated, if they have many (2) opportunities in learning and are (3) promoted in developing their careers Along with maintaining all three forms of treatment, businesses need to ensure the principles of fairness and transparency in the implementation of this form of treatment Several studies indicate that workers will react negatively in a higher level if they feel they are treated unfairly compared to the case when they receive lower but fair remuneration Develop a career path for employees Employees should be supported to build the development path of their careers The opportunities for advancement and professional empowerment have always create results in the promoting employees’ loyalty towards the company Employees will not commit to stay with a company which they not see a future for their career development In the context of an open economy, workers are increasingly better informed and have more opportunities to choose and it’s unavoidable that the employees decide to leave for another company where they have more potential to develop their careers The clearer and more detailed the career development policies of the enterprise are, the clearer the directions for employees and therefore, their dedication level towards the work will be higher In order to this, companies must pay attention to measures such as: - Provide adequate information about career opportunities - Standardize the positions and the method to appoint or retrieve - Support in planning and implementing the career goals - Create an environment where people wish for knowledge - Build a mechasism to recognise and train the talented - Establish a healthy company culture III ANALYZING THE FACTORS AFFECTING EMPLOYEES RETENTION IN OCEAN COMMERCIAL JOINT STOCK BANK (OCEANBANK) History of establishment, development and the strategic goals of Ocean Commercial Joint Stock Bank (OceanBank) Founded in 1993 and changed the operational form in 2007, with the relentless efforts of the staff and the determination of the bank management team, Ocean Bank has successfully set its position in the banking and financial market as well as built confidence in public From a bank with chartered capital of 300 million, in 2011, Ocean Bank has increased the chartered capital to 5,000 billion With the cooperation of the strategic shareholder and strategic partner - Vietnam National Petrolium Group, Ocean Bank has prepared in every way and are ready for new changes OceanBank has continously developed wide and strong networks Because setting up more branches and transaction offices means to increase market shares and capacity, it is one of the top priorities in the plan of Ocean Bank Ocean Bank has covered all the key areas of the country such as Hanoi, Quang Ninh, Hai Duong, Da Nang, Nghe An, Quang Ngai, Vung Tau, Sai Son, Ca Mau Ocean Bank has raised the number of transaction offices and branches to 104 The goal of Ocean Bank’s management board is to: From now to 2013, Ocean Bank will be built into a multi-purposed, modern bank which can be considered as a major domestic commercial joint stock bank with adequate financial capacity, the customer network, branch systems, human resources technology powerful enough to create the best conditions for the transformation into a leading bank in the period of 2013-2020 The mid-term and long-term development goals all aim to make OceanBank become a retail joint-stock commercial bank with high-speed of development, secure and efficient multi-purpose bank; specifically become a bank with: - Retail banking: serve the varied purposes of companies and people and orginisations through verifying the services of the Bank - High speed of development: have the speed of development higher than the average level defined by the State Bank - Secure: always maintain the secure ratios and apply all measures to prevent, lower risks in the highly competitive business environment - Effecient: ensure the optimal benefits for the customer along with ensuring the benefits of the shareholders, the bank, the employees and the government - Is the Bank of every family, everybody and every companies To implement this important goal, the investment in high quality human resources to create high potential for the bank’s development is a prerequisite and indispensable condition in the long term development strategy The investment in high quality human resources requires OceanBankto have adequate policies to attract and retain that resource In order to have all that, Ocean Bank has paid special attention and focused on the internal factors that can affect directly high quality human resources through researches, the introduction and improvement of the factors affecting employees retention Factors affecting employees retention of Ocean Commercial Joint Stock Bank - OceanBank 2.1 Recruitment policy Recruiting principles of Ocean Bank is to select the best candidate for appropriate positions based on qualifications, ability, attitude, ability and experience of candidates, regardless of creed, religion or gender Ocean Bank's policy is make employess have the opportunity to become shareholders of the Bank, to create a professional and fair working environment so that every individual has the opportunity to devote his abilities and talent Therefore, the recruiting, training, appointing, salary and bonus paying were all standardized according to the employment policy in Personnel regulations as well as regulation of collective labor agreement between OceanBank and the employee 2.2 Human resources policies In the trend of global integration, human resources are regarded by Ocean Bank as a core element and valuable asset Therefore, the human resource policy of Ocean Bank was built with the intention to turn human resources into a special advantage which plays a decisive role for the successful implementation of the strategic objectives set Ocean Bank now has the professionally qualified and highly professional management , monitoring, administration and operational staff working effeciently at the Headquarter, branches, transaction offices across the North Central – South regions 2.3 Training and development policies Human resource training and development is the top priority of Ocean Bank The goal is to build and develop staff to have rich knowledge, professional in way of working and enthusiastic in serving the customers In the strategic plan, Ocean Bank will soon set up training centers with complete curriculum system including: banking knowledge, law knowledge, organize the management activities and operate according to standards to always adapt with the requirements in improving employees’s knowledge and in serving effectively in all areas of business 2.4 Salary and promotion policies Salary and bonuses for Ocean Bank’s employees are associated with business performance and service quality of each employee when performing assigned work Every year, employees receive a minimum of 13 months in salary; additionally, employees are entitled to wages based on productivity and the level of work completion; awards to outstanding units and individuals of the year, reward for innovative ideas; bonuses in the national holidays and the celebration of OceanBank’s establishment… 2.5 Supplement and social insurance policies Official Ocean Bank Employees are entitled to have social allowance in accordance with the Labor Law In addition, Ocean Bank employees also receive the allowance regime such as responsibility allowances, hazardous or risky cash allowance, professional allowance, v.v 2.6 Organisational activities and other policies Trade unions, youth and social organizations are established and operate in accordance with the law Ocean Bank regularly organizes group activities to create a happy, friendly atmosphere within the organisation Each year, Ocean Bank implements the schedule of sightseeing, travel, providing equipment and uniforms for its staff In addition, Ocean Bank has staff remuneration policies such as regular medical check-up and club founding by the Union, Youth Union, Women Club to improve health, culture, family, entertainment… Beside the mentioned above, OceanBank specificially cares about social relief and charity Through which, it wants to create a sense of solidarity, mutual assistance within the Bank staff together and with the community and society All the policies set by Ocean Bank are to aim at the final goal which is to create an unique “company culture” to attract and keep the employees IV CONCLUSIONS In the current market economy, the companies that can exploit the strengths of human resources will have many advantages for development In order for human resources to fully develop their potential, enterprises need to better satisfy the material as well as mental needs of employees In other words, companies need to have a healthy "company culture" because the company culture is the combination of all cultural values built during the establishment and development of a company, they can become the values, concepts and practices rooted into a company’s activities and affect the feelings, thinking patterns and behavior of all members (employees) when they decide whether to stay with the company or not ... keeping them is an even more challenging mission for business leaders Therefore, in order to determine the way to keep the employees, we need to decide what makes the employees stay with the... negatively in a higher level if they feel they are treated unfairly compared to the case when they receive lower but fair remuneration Develop a career path for employees Employees should be... more opportunities to choose and it’s unavoidable that the employees decide to leave for another company where they have more potential to develop their careers The clearer and more detailed the