Low intrinsic motivation–problem of esnetworks vietnam co , ltd

UNIVERSITY OF ECONOMICS HO CHI MINH CITY International School of Business Nguyen Huu Quynh Phuong LOW INTRINSIC MOTIVATION– PROBLEM OF ESNETWORKS VIETNAM CO., LTD MASTER OF BUSINESS ADMINISTRATION Ho Chi Minh City – Year 2018 UNIVERSITY OF ECONOMICS HO CHI MINH CITY International School of Business Nguyen Huu Quynh Phuong LOW INTRINSIC MOTIVATION– PROBLEM OF ESNETWORKS VIETNAM CO., LTD MASTER OF BUSINESS ADMINISTRATION SUPERVISOR: TRAN HA MINH QUAN PhD Ho Chi Minh City – Year 2018 Executive summary Vietnam has recently been regarded as a prospective destination of foreign investment presented with its high-speed development In which Japan is the leading economic partner of Vietnam, the leader in ODA, the second largest foreign investor, the third largest tourism destination and the forth major trading partner of Vietnam As one of the leading However, there are potentially existing problems in the company which may reduce the competition edge of organization and harm to its culture This research was commissioned to examine what problem in Esnetworks Vietnam Co., Ltd., the causes leading to problem are and to suggest the validated solutions to deal with problem, which are in line with company’s policy and resources Method of the analysis is combination between theory-informed and validated data, collected through interview and survey to identify and confirm existence of the problem as well as causes and alternative solutions From the general diagnosis of potential problem at Esnetworks Vietnam Co., Ltd., findings suggest the existence of low intrinsic motivation as the main problem The study examines 03 main Departments within the Company especially Business Avisory Department Low intrinsic motivation is analyzed in terms of its existence, antecedents, consequences, and solutions are proposed to tackle such a problem Finally, this report indicates organization of actions to deal with problem in the lead time of one year and limited budget approved by the company Recommendations discussed focus on two main causes of low intrinsic motivation within the Company, which are job characteristic and Compensation and Benefits The report also investigated three accordant solutions: - Conduct clear job description - Provide ideal working environment - Complete the system of compensation and benefits Total estimated cost to implement these solutions is approximately 253 mil VND, which is in line with company’s approved budget of 255 mil VND while benefit brought is 453 mil VND Since there is limitation of time and resources constrain as well as research exist such as the current company conditions data did not provide enough information and only sample of interviews are performed However, the report provides diversified and validated data in conjunction with theory to propose meaningful suggestion for Esnetworks Vietnam Co., Ltd to strengthen its personnel resources and organization behaviors I INTRODUCTION The Company background Firstly established in Vietnam in 2008 with initial name is Flagship, Es Networks Vietnam Co., Ltd (herein after referred as “Es Networks VN” or “The Company”) is 100% directly invested by Es Networks Japan Co., Ltd As described in the Figure 1, the Company focuses on three segments: market entry, accounting/tax/labor, M&A and other services With an aim of establishment, Es Networks Vietnam’s main vision is to provide professional consulting services such as accounting, investment and Human Resource services for Japanese clients who have investment activities in Vietnam The Company provides consulting service for all procedures and problems from establishment to termination the operation of the clients Figure Business lines of Es Network Vietnam Currently, Es Networks VN has two offices in Ho Chi Minh City and Ha Noi City with around 56 employees Given the short history of operation from establishment, Es Networks VN owns the qualified employees who committed to provide the completed services, the Company gains clients’ belief, therefore, its clients portfolio is expanded by days Even that the market of consulting companies is became more competitive nowadays, the board of management and all of employees are building Es Networks VN’s position more and more stable especially in Japanese segment Today, due to the investment stipulating policy of Vietnamese government, Vietnam becomes more and more attractive investment destination for foreign investors, in which Japanese investors are not exception In advance of thinking about operation and generating profit, those investors have to carry out procedures in compliance with the Vietnamese law, tax regulations and other administrative procedures For which, many consulting firms are launched Particularly, in segment of consulting firms that serving for Japanese investors, except the leading position of companies from Big group (PWC, Ernst and Young, Deloitte and KPMG), there are a big competition from second tier companies, in which the big rivals of Es Networks VN are KT accounting Vietnam, AGS Vietnam and I-Glocal Co., Ltd In which, I-Glocal Co., Ltd is considered as the biggest rival The Company structure Figure Organization chart of Es Network Vietnam As mentioned above, Es Networks VN currently provides consulting services, the company consists of three departments: Business Advisory Department (hereinafter referred to as “BA Dept.”), Accounting Department (hereinafter referred to as “AC Dept.”) and Administration Department (hereinafter referred to as “AD Dept.”) accordingly Each Department has its own function The AC Dept specializes in providing the accounting services such as: tax compliance, tax advisory, booking accounting books and financing advisory BA Dept.’s main duties are seeking and directly accessing the clients, the department with Japanese experts and other Vietnamese experts that can use Japanese language excellently always play the role of listening, explaining and providing alternatives directly for Japanese clients Furthermore, BA Dept also providing Human Resource services including applying for visa, work permit, calculating payroll and declaration of personal income tax for Japanese clients Finally, AD Dept comprises director, manager, human resource team and internal accounting team that is in charge of maintaining the relationship with clients, authorities, internal human resources, financing, and further general management Table The Profit and Loss Summary of Es Network Vietnam In 2015, Es Networks VN generated profit of 4,714 billion VND which is counted about 57.28% of Sales From 2015 to 2016 the operating profit increased 1.202 times while the increase of that from 2016 to 2017 is up to 2.654 times In general, the Company is steady growth but it is still not reach its target over the years However, the different amount of profit between actual and target is insignificant Moreover, the target amount of sale and profit increases rapidly over the years This means the Company is trying to expand its market, hence, the number of clients are raised by years However, the staffs of the Company just raise a little bit and the current staffs are now facing with the problem of overload II PROBLEM SYMPTOMS In order to have an overview about the backlog issues within the company, we conducted the initial interviews with 02 staffs of BA Dept and AC Dept and 03 managers of 03 departments The detail of these initial interview is displayed in Appendix Due to the nature of work, AC Dept undertakes the accounting job for clients which is considered as the specialized job Therefore, they may have precise idea and judgment AD Dept is the non- profit department which is responsible for the internal operations and support other departments hence, they can stand on the management point of view to provide unbiased judgments in the general way In addition, the BA Dept is the department that generates the highest profit for the Company The jobs in BA Dept are also much more distinctive with the others while its job content changes depend on the request of the clients As the most important Departments of the Company which has to communicate with other teams while working, the manager and staff here can provide multidimensional outlook about the Company The study applies qualitative questions to investigate the interviewee’s point of view about the problems existing in the Company The turnover rate status From the interview with HR managers of the Company, the most prominent symptoms that mentioned by many interviewers that currently the Company has high turnover rate In general, the turnover rates fluctuated over time In 2017, the turnover rate was 27% while in year 2016, such amount reached 20% The table is collected base on criteria by gender, age and departments of the Company According to the table, there is no significant upward or downward trend of gender in turnover rate is apparent This means turnover rates in the Company does not depend on the gender, the one rate for women was essentially the same as that for men The table below shows the turnover rate from 2015 to 2017: Gender (%) Male Female Age (%) Under the age of 32 32 and above the age of 32 Department (%) Administration Department Accounting Department Business Advisory Department Turnover rates (%) 2015 2016 2017 45 55 47 53 49 51 70 30 75 25 80 20 20 20 60 15 25 20 55 20 25 15 60 27 Table Turnover rate of Es Network Vietnam from 2015 to 2017 As stated in the above table, younger employees had higher turnover The HR manager believes that the younger ones are willing to take risk and challenge in their job, from which they can gain more knowledge and experience for their future career, hence, they quite easy to move and out the Company On the other hand, middle-aged employees who are from 32 year olds and above had lower turnover, probably because the middle-aged employees has the tendency to stick with stable job, they conceive the important of their job Moreover, they afraid to change the working environment as starting the interview and make acquaintance of new job, new colleague and new working style at their age Finally, those with different job characteristic suffer higher turnover For example, in year 2017, the turnover rate for those with Administration Department was 25%; for those with Accounting Department was 15%; while such rates of Business Advisory Department was up to 60% This pattern may arise because of job characteristic The specific of Business Advisory Department requires that employees must to take the time to research and update 10 However, I think the Company does not have the adequate benefit and allowance policy Besides the 13th month bonus, we not receive any benefits to encourage the spirit of work Actually, everyone go to work for the main purpose is salary Comparing with other companies in the same industry, the salary of our company cannot be considered as high segment While we serve the high class of clients with almost 1,5-2 times service fee In order to that, the employees have to spend most of their effort to provide better services Therefore, I think we desert the higher salary and more benefits from the Company so that we could become loyal and willing to dedicate more for the Company Interviewer: Thank you so much for your time I hope you and your colleagues will greatly handle your jobs Interviewee: You are welcome Transcript 3: The interview of Ms Dang Tran Bich Van, manager of Administration Department: Interviewer: Good morning, currently I’m doing the thesis for my MBA course The course requires to clarify the existing problems in our company and figure out the solution for them I need to know your point of view about our company Hence, is it possible for you to answer some questions? Interviewee: Yes, of course I can share with you things i know Interviewer: Currently, what is your position in the Company? Interviewee: I’m manager of Administration team Actually, I’m the only one who is responsible for human resource in the Company I all the stuffs related to labor, insurance, 45 PIT of the employess In addition I also the one who listen the complaint of the employees regarding to the management method of the Company These complaints are not really official, because it arises from daily conversation when we have lunch or go out for coffee Interviewer: So accourding to these conversations and your daily job, you realize any significant HR problem in our company? Interviewee: Actually, in the end of 2017, our mother company- Es Networks Japan prepared to become Initial Public Offering (IPO) In order to that its company profile as well as their company profile of its subsidiary have to make up in the most sufficient way They asked us to a survey regarding to level of job satisfaction, job engagement, agility, commitment, alignment in order to have suitable plan for management By this survey we found that the level of job commitment in Business Advisory Department is very low at 38% while it is 43% and 48% for Accounting Department and Administration Department alternately The other criteria reach acceptable ratio from 50% to 70% Interviewer: What can this result show us? Interviewee: Compared to our subsidiary in Singapore and Thailand, this result is significant different It is specific in Vietnamese office, therefore, the management need to have the action plan to clarify the reasons and solution for those problems Interviewer: Can you give me the result of this report? Interviewee: Ok, no problem Interviewer: Anything else that you think our company is facing with? Interviewee: Ah, currently, many employees resign And the Company gets headache to find the suitable candidate to fill the blank position 46 Interviewer: In your opinion, what is the main reasons of this situation? Interviewee: I think that some of them cannot stand for the pressure anymore; they probably find another suitable job Many staffs who have family cannot stand in our company for a long time They need time to take care their small family therefore, it is not rare when employees give up after the probation Currently, most of our staffs are young and single The first reason is for the new staffs who have just graduated from the university, they have enough energy and passion to dedicate for the company I had several conversations with my colleagues, most of them think that the company is an ideal environment for accumulating the experience When they have enough ability to find a better job in another company, they will quit their job As a consultant, we have chances to face with many different fields, challenge yourself with different questions from clients and our knowledge and experience can improve day by day For the new staffs who already have experience in consulting field, when entering the company, they realize that even if they try to work and dedicate for the company in a long time, they still cannot have chance to develop their position in the company Each department has only 01 manager, above the manager, there is 01 Japanese General Director Generally, respectively with the number of the department, the whole company has 03 managers and it is really hard to replace that position Interviewer: Ok, thank you for your support Interviewee: You’re welcome Transcript 4: The interview of Mrs Chi, a manager from Accounting Department: 47 Interviewer: Hi Mrs Chi, I got an small research at school that including the problem that staffs are now facing at the company Would you please kindly spend around 15 minutes to answer few questions about it? Interviewee: Yes, of course Interviewer: How long have you worked here? Interviewee: I have worked here for more than years Interviewer: Oh, It’s a quite long time Have you ever received any complaint from your employee about their job? Interviewee: Oh, not much, I rarely receive responses, complains or something like that when I ask them They not seem interested in giving ideas even that new policy of The Company affects to their rights The employee may just concentrate on their work and are afraid they have to face with complexity if they take comment or make requirement for getting promotion to The Company Interviewer: What is the common thought that you find at your subordinate? Interviewee: During long time working with them, I realize that the employee wants to maintain their stable job They just want to keep current tasks and not want to take change which may cause a risks and difficult challenge Interviewer: Is there any problem that you think our company may face with recently? Interviewee: I think that the employees tend to communicate with their colleagues in the same department They no really cooperate with other department activelly while working It’s can be understand that they want to protect their benefit, not want to receive 48 more sub tasks because they have enough jobs to And it’s hard to change their thinking and behavior And of course, this may partly affect the working efficiency Interviewer: Ok Thank you for your time Transcript 5: The interview of Mr Hoa, a senior from Accounting Department: Interviewer: Hi Mr Hoa, I got a small research at school that including the problem that staffs are now facing at the company Would you please kindly spend around 15 minutes to answer few questions about it? Interviewee: Yes, of course Interviewer: How long have you worked here? Interviewee: I have worked here for more than year Interviewer: What is your main duty at the Company and what are your daily jobs? Interviewee: I am responsible for accounting of the clients Currently, I have five (05) clients, I’m collecting their documents, booking for their accounting book, calculation and declaration of their monthly, quarterly and annually finance reports and tax returns I have to ensure an accurate and timely monthly, quarterly and year end close, processing of positive pay transactions Interviewer: During time working here, what are the good and not good things which is existing at your Company? Interviewee: I am satisfied with my current tasks It is a stable job so that I can arrange my time to my private hobbies and maintain my teaching Actually, besides my working here, I also participate in teaching accounting course So with stable job, I have time to improve 49 and develop myself And I think this is the good thing of working here However, I find the bad thing is that salary and other benefit are low The employee must work overload in peak season but not received much from the Company This is an important reason which makes employee want to leave Employee not get any promotion, so they feel disappointed and intend to leave for finding out the new chance Interviewer: I think the salary is depend on job characteristic And you intend to leave the job or take some change in your task to get your promotion? Interviewee: Oh no Currently, I have not yet had plan for change new job Because I’m only good at accounting and just feel confident when working in this field Maybe in the future, when I feel so boring this position at the Company I may consider to find new environment for my development Interviewer: It’s enough for today Thank you so much for your support I Appendix 2: In-dept interview Transcript 1: The interview of Ms Lan Anh, the manager of BA Dept.: Interviewer: Last time we have performed a small interview on the problem that staff are now facing at the company And you have told me there are some problem occurring in your company The staff are on work overload due to increase of clients while the number of employee is unchanged So, in your opinions, what is the main issues? Interviewee: I and my subordinates are working under high pressure especially in duration of expanding operating scale of the Company The number of clients is growing up lead to 50 development of service providing We have to multitask, make a research in variety fields to catch up with the pace of market Interviewer: Would you mind explaining that again, please? Interviewee: As I mentioned, I am the only manager of Business Advisory Department My responsibilities includes review and check all information and result before reporting to the clients I also take responsible for every acts from my subordinates That means I have to wait for my subordinates to complete their tasks for review and check However, each staff is charge of some clients, follow and support them from initial establishment until development process and operating termination The staff have to work under tight deadline and ensure the punctual This schedule is also applied for me Interviewer: You may be not satisfied with your job due to work overload and high pressure? So, you think you can balance personal life and work? Interviewee: That’s right! It’s difficult for me to balance personal life and work I don’t have much time to take care my children because in some period I have to leave my home in the early morning and come back home in the late evening I almost spend my time at the office and even lack of sleep which impacts my health I think I can work for long time if this situation is repeated again and again Interviewer: Is there any issue beside above mentioned problem? Interviewee: The more important one is not full recognition I have not yet received promotion and reasonable benefit for my efforts This makes me feel dissatisfied with commitment for the company 51 Interviewer: Oh, this means you are facing with the problem of low extrinsic motivation You feel disagreed with the company policy and the treatment of company also Interviewee: I have compared and found out I don’t know why the company did not pay attention to this matter Interviewer: Thank you for your share I think it is the valuable problem need to be investigate more Transcript 2: The interview of Ms Truc, the staff of BA Dept.: Interviewer: Good afternoon, I have collected some ideas of our colleague in our Company and figure out some common symptoms Could you give me some idea about these point of view? Interviewee: Ok What is that problem? Interviewer: Do you remember that in the end of last year, we did a survey regarding to the job satisfaction, …? Interviewee: Yes, I Interviewer: The result indicated that the Company is facing with the problem of low job commitment That means the employees not have the intension to work for the Company in long-term What you think about this situation? Interviewee: As I mentioned in the last interview, as large amount of workload, the employees cannot handle for a long time Most of employees, especially young employees who want to gain experience and knowledge, they accept to take hard job for the first time 52 After or working years, they tend to quit their job and find another chance in other companies with higher salary Transcript 3: The interview of Mr Nhut, the staff of Accounting Department Interviewer: Last time we have performed a small interview on the problem that staff are now facing at the company And you have mentioned to work overload due to unreasonable distribution of work So, what does this mean? Interviewee: During working time here, I realize that the distribution of work is unsuitable An old staff must many tasks or even work overtime while other one may have nothing to Interviewer: Could you describe it in more detail? Interviewee: In my opinion, almost new staffs are not be trained carefully Because of the working overload, the experience staffs not have time for training new staffs Therefore, they have to spend too much time in order to acquaint with job Besides that, at the first stage of working, it takes new staffs a lot of time to find the information of clients because there are no any regulation and instruction about save information, classify and arrange data We're all busy, but sometimes we go through periods where the work piles up and it seems like it might never end You might have so much work that it's too intimidating to even start Interviewer: Have you ever offered to supervisor or person in authority for rearrangement of work? 53 Interviewee: Sometime I make a complaint to my manager, she has promised to improve this situation, but until now I have not yet received any changes Obviously, if this status keeps repeating, it can also put me into a continual cycle of low motivation Interviewer: Yes, I got it As you talked, unreasonable distribution of work is one of the main problem cause low intrinsic motivation So, thank you again for your idea Appendix 2: Internal survey of the Company in 2017 Rất khơng đồng ý Tơi u thích hài lòng với cơng việc Tơi hỗ trợ đầy đủ phương tiện nguồn lực để hồn thành tốt cơng việc Tơi làm công việc theo chuyên môn đào tạo Những nỗ lực công việc ghi nhận xứng đáng Tôi hiểu rõ phạm vi cơng việc trách nhiệm công ty Cấp tạo hội công việc để phát huy tốt lực thân Cấp hỏi ý kiến có vấn đề liên quan đến cơng việc tơi phụ trách Cấp lấy ý kiến công việc yêu cầu đề xuất có Tơi ln góp ý thẳng thắn phạm lỗi công việc 10 Công việc thú vị có nhiều thách thức 54 Khơng đồng ý Không ý kiến Đồng ý Rất đồng ý 11 Công việc khơng đòi hỏi thường xun phải làm việc ngồi 12 Lượng công việc phân bổ phù hợp với số lượng nhân công ty 13 Tôi cảm thấy khuyến khích để tìm cách làm tốt 14 Cơng việc ln có đổi ngày tơi có mục tiêu cơng việc rõ ràng 15 Cơng ty hoạt động có hiệu cao 16 Mức lương công ty cạnh tranh so với những công ty khác lĩnh vực 17 Tơi sống hồn tồn dựa vào thu nhập từ công ty 18 Tôi tôn trọng tin cậy công việc 19 Công ty tạo cho nhiều hội thăng tiến 20 Cơng ty có chế độ phúc lợi tốt 21 Tôi phổ biến hiểu rõ cấu tổ chức, điều kiện thăng tiến công việc 22 Công việc ổn định, không lo lắng vấn đề việc làm 23 Tiền lương tương xứng với kết làm việc 24 Cơng ty có tiêu chí đánh giá lực nhân viên để xét tăng lương hợp lý 25 Tôi phổ biến hiểu rõ mục tiêu sách phúc lợi cơng ty 26 Đồng nghiệp sẵn sàng hỗ trợ, phối hợp để xử lý công việc 55 27 Đồng nghiệp thân thiện thường giúp đỡ lẫn 28 Đồng nghiệp quan tâm, chia sẻ khó khăn cơng việc sống 29 Tôi đồng nghiệp phối hợp hồn thành tốt cơng việc 30 Tơi làm việc lâu dài công ty Thông tin cá nhân Quý Anh/Chị vui lòng cho biết: Giới tính Nam Đang Nhân viên Nữ Quản lý Thuộc Bộ phận Business Advisory Team Accounting Team Internal Team Tuổi: ……………………………………… Đã làm việc Es Networks thời gian (năm): ………………………………… 56 REFERENCES Ariani, D W Why am I burnout and engaged? 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Flagship, Es Networks Vietnam Co. , Ltd (herein after referred as “Es Networks VN” or “The Company”) is 100% directly invested by Es Networks Japan Co. , Ltd As described in the Figure 1, the Company