Employee disengagement with LGC company

UNIVERSITY OF ECONOMICS HO CHI MINH CITY International School of Business THAI QUOC BAO EMPLOYEE DISENGAGEMENT WITH LGC COMPANY MASTER OF BUSINESS ADMINISTRATION Ho Chi Minh City – Year 2019 UNIVERSITY OF ECONOMICS HO CHI MINH CITY International School of Business THAI QUOC BAO EMPLOYEE DISENGAGEMENT WITH LGC COMPANY MASTER OF BUSINESS ADMINISTRATION SUPERVISOR: Associate Professor NGUYEN THI MAI TRANG Ho Chi Minh City – Year 2019 ACKNOWLEDGEMENTS I would like to expressed my thankful to my Supervisor – Associate Professor Nguyen Thi Mai Trang Without the support and dedicated involvement in every step during the thesis, my thesis would have never been accomplished I would like to thank you very much for your support and understanding Table of Contents Executive summary Company overview 1.1 About Company 1.2 Organizational structure Symptoms 2.1 Total turnover rate 2.2 Turnover rate of Manager 9 Potential problems 10 3.1 Employee disengagement 10 3.2 Transformational leadership 12 3.3 Knowledge sharing 13 3.4 Problems Validation 14 Potential causes 18 4.1 Employee Performance Low 19 4.2 Unprofessional working environment 20 4.3 Lack of career growth 21 4.4 Validating causes 21 Alternative Solutions 23 5.1 Solution 1: Improving employee professional working skills for more sharing 23 5.2 Solution 2: Motivate employees challenge themselves 25 5.3 Solution justifications: 27 Action plan 27 Supporting information 30 7.1 Interviewee demographic 30 7.2 Interview guide 30 7.3 Interview Transcription 31 References: 46 LIST OF ABBREVIATION LGC: LGC financial consulting company limited HR: Human Resource IT: Information Technology Department QC: Quality Control HCMC: Ho Chi Minh City BOD: Board of Director LIST OF TABLES Table 1: Total emmployee turnover rate at LGC (Source: LGC's Headcount report) Table 2: Manager turnover rate at LGC (Source: LGC's Headcount report) LIST OF FIGURES Figure 1:LGC Organization Structure (Source: LGC's data) .6 Figure 2: Employee Turnover rate in LGC (Source: LGC Headcount Report) .8 Figure 3: The turnover rate of Manager in LGC Figure 4: The cause and effect tree (Source: Author data) 19 Executive summary As every enterprise around the world admitted that, Human Capital is the most important for each enterprise that can compete with other, can win in the competition and can create more differences compared to others cannot copy Especially, key position such expertise, manager, director, etc These employees will bring too many benefits and values to the company In general, Human capital is the effective competitive advantage of many enterprises if they spend times and money for it Many companies in Vietnam not pay more attention in Human resource, the cause of this is that they thought its waste their time and money If they want, they can cooperate with expertise or some excellent people and they just pay a little bit higher for these kind of resource, they not need to spend more for their existing employees The author agrees with them, but that is not a smart way and that is a short term way for business if they want to growth sustainably in the future This way is just suitable for running project in few years – we need their experience to run project to meet deadline and low cost Because we just hire one to two expertise for each project And now, studying about LGC for my thesis The author saw that LGC has been facing a high turnover rate of their employees for few years due to its performance is always low The author has using in-depth interview and some kind of literature to analyzed This study concentrate on what is the main problems, why it happened, how is it important and how it is affect to the company Furthermore, employees are feeling frustrated and no motivation when they work and never meet target, it means that company will fail in short term This study will help BOD find out the main cause of the problem and give the best solutions to solve it then push everything run smoothly and drive in the right track not only for decrease the turnover rate but also meet the company target Company overview 1.1 About Company LGC is one of subsidiary of Finstar Financial Group LGC is Financial consulting limited company and it was established in 2015 It was found just few years in Vietnam but their business is very good and continuously developing year by year LGC owns doctordong.vn website that is an online lending, it gives the best solution about financial to customers who need to borrow small amount of money but cannot asking from the bank Realized that, LGC cooperates with its partners to provide small loans in the shortest period and simplest procedures It business meet the customers need Customers who just need to few clicks to register personal information then consultant will contact them within 30 minutes to guide them finish their loans If ok, customer loans will be disbursement within 24 hours and their first loan about million to 10 million based on their borrowing history, the second loan will be higher the first one LGC is always flexible in its operation to satisfy customers, and willing to adapt customer needs if they come to LGC Everything is transparent and legal at LGC at the beginning Although most of thing seems to be on the right track and advantage about finance from Finstar Group but LGC Also face lot of challenges from external – competitors and Vietnam law, and many things from internal but the most outstanding is employee turnover rate In this thesis, the author will show them the causes and how it affected to the business and development in the future 1.2 Organizational structure LGC located in HCMC and has totally 138 local employees and 17 expats who are working in departments: Human Resource, Quality Control, IT, Collection, Finance and Accounting, Project, Marketing, Operation The Country director who is responsible for all activities and drive LGC going on the right track and aligned with the head quarter strategy and each division played an important role that supporting country director to expand and growth business in Vietnam Country Director HR & Admin Quality Control Finance and Accounting Collection Field collection Phone collection IT Operation Project (R & D) Marketing Telesale Verification Customer service Figure 1:LGC Organization Structure (Source: LGC's data) Symptoms Identify symptom is the first thing to when we are going to find the root causes of the problem Because we will find wrong problem if we cannot distinguish problem and symptom No symptom means no problem Marlon (1) stated that it is significantly important to distinguish the problem and symptom The author has carefully doing research and interview some head of department and based on data in 2017 -2018 I found symptom that happening at LGC is high turnover rate but in this study I just mention the turnover rate of supervisors, mangers and top levels This symptom will be analyzed in detail as the following: 2.1 Total turnover rate Human Resource is very important to each enterprise, its creating value and bring benefit to company According to Backer et al (2) beside other traditional tools like money, technology and so on, human resource is the unique tool which can make the company sustainable growth and creating competitive advantage to cope with rivals but no one can copy Actually, we can imitate everything but we cannot copy human resource It plays an important role in business, that is why there are many survey and research about human resource conducting every year in order to get the insight about HR The company looks referred to this report to improve its HR system It will be the advantage if the company has sustainable human resources High turnover rate means that the company lost its advantage and one of critical tool to compete in the market According to Mercer - Talentnet report (3) the average turnover rate in 2016 is 17,8% and 2017 is 10,5% - the highest turnover rate belong to retail sector 32,2% and the lowest turnover rate belong to oil industry 5,3 % And Anphabe (4) forecasted the turnover rate in 2018 is 20% And below is the turnover rate of LGC, it shown in table and also in graph as well them their best Until now, they don’t have any training for us and they should issue some benefits to attract talent and • - Lack of They cannot compete with competitor in policies to the labor market without attractive benefit attract beside salary motivate Mr Quan: Company has to issue some staff other benefits like health care, annual trip, - No and training events for employees who can sharing and class to supporting together One of the problems improve staff here is policies for keeping and attract capacity talents, many staff resigned, why? They have to think about that and issue some policies to prevent its happening Should - High paid have training course to improve staff - Should have capacity And let them know the important of team work • more policies - No training Ms Lua: I think good salary for staff for compare to some company I known I improvement don’t see others policies to motivate or encourage its employees For example, recognition for creative and innovative, etc They should train for its employee, looked back history data, I don’t see any • - Should have training program for employees It’s so more benefit strange to attract and Ms Thanh: HR policies? I think it cannot keep staff compare with other My friends told me - Supply that they feel unhappy when they worked training hard and contributed more than other but course they less receiver They should fair in improve skill to evaluations and recognition Company 34 should have more policies to keep people • - Lack of stay with them And should training for us benefit to to improve our skill keep Ms Hanh: Company has not policies to attract keep employees staff and other benefit like and healthcare, fieldtrip, event other activities to connect people together There are - Need training course many staff leave because of working environment and its managers Company should have training class to improve • - Should have working skill more policies Mr Phong: Salary is ok but we need more beside salary policies to keep talents and motivation Create teambuilding to create a team We - Training for employee need a team going with us and let them known the important role of team We have to support each other to go far and reach target we need training for them because employee needs to lean and grow every day, they need to update skill to their better work Q5: Do you intend to work here for a long - time? • Working Paid high but environment Mr Quan: I am receiving high salary I consider need money to spend for my family quit job to because I have to take care for children If I have the better offer, I will quit I think it will be soon • - High salary, Mr Tung: I Just have been working for need year, and they paid me well but I think it improve to is not a critical thing to keep me stay here 35 for a long time Working environment working here environment is poor, they worked like unprofessional, no sharing, no connection and working in individually • Mr Phong: I feel unhappy and I am - Unhappy - Want to learn - Don’t care - Look around - So so, Need looking for a job and have offer but I still waiting another • Ms Nhi: Not too long I want to improve my skill and gaining experience but I learned a little • Mr Ni: I don’t think I will quit at this time Everything is ok with me I just concentrate on my work, I don’t care and don’t want to know if it not related to me But if I can, I will create more positive working environment like more sharing, team building • Ms Ngan: Uhm, I think everybody here who is thought like me that they will quit if they have better offer • Ms Lua: I sometime feel unhappy and want to quit but I have just working for to improve few months, I don’t want to jump at this working time but I am not sure If I feel happy and environment I see they are going to change At that time I will stay Q6: What you think about company policies Working for employees? environment • Mr Quan: In my opinion, salary and bonus is ok but we need more event to connect - No connection employees together We can organize 36 small meeting to sharing experience and teambuilding, etc • - Salary ok but no teamwork Mr Tung: Wage and bonus policies is ok but it will better if employee work like a team Everybody here who is only work individually and don’t share anything with other Should have more event and • - Wage is ok, program for employees to connect with create more others event for Ms Ngan: I am ok with company policy connection but I don’t see any program to make employee more energy and happier we have to spend more than hours a day for company but we just come here for money If so, no one loyal with company - Salary ok, if someone pay higher To retain Not good employee not only money but we have working also create happy working environment environment for them • Mr Phong: Salary is ok But I don’t think that is enough to attract and retain - Create employees Except salary and bonus, friendly employee like me still looking for a working healthy environment to work for At that environment place, I have a friendly colleagues and supporting and grow together • Ms Nhi: I am happy with my salary Company should create friendly working environment for us because we don’t have - Don’t have activity chance to work our peers event don’t have any meeting, just see and report That’s it • Mr Ni: It’s ok 37 • Ms Thuong: Just normal We don’t have activities for teambuilding and sharing Until now, I don’t see any activity Nothing good except salary • Ms Hanh: I think policies are ok - Q7: There are many people come and go with in few months What you think about that Poor Management and why it happened? • Mr Quan: Yes, I have seen many staff - - Unhappy leave until now I think that is very bad for with manager company if it’s still happened and leave Most of training - employees leave their job because they Lack Poor management feel unhappy with manager and they cannot learn to grow • Mr Ni: I can say that I am the oldest person if compare the number of working - No year I have worked here for years until supporting now I saw many staff come and go event and they leave in their probation period I inspiring anf think that is very bad for company if they don’t change They leave not because salary but they leave because they don’t have any supporting and inspiring from others • Ms Nhi: I feel tired because I have to - Don’t happy more Turnover rate is high because with employee don’t happy and no supporting management from top management - No top support, micro • management Ms Ngan: I have seen this happened but I can’t anything Many employees told me that they don’t see any support and - Employees leave because 38 their manager is micro management, they poor don’t happy to work with them When management, they join until they leave, company has no no teamwork program and for employee connection, sharing and learning to grow Just no learning working and going home • Mr Tung: I think company will fail in competition Many employees leave - Poor within a year We can recruit but waste management, time and money to train even coach them no They mostly leave because management program and style and have no opportunity to grow and teamwork training difficult to work with other colleagues • Ms Hanh: I am recruiter, I am very tired and my workload is higher I never recruit enough for company We paid high salary to employee but they don’t stay with us At the beginning, they feel happy because they don’t know anything exclude high - Cannot salary But they onboard just few months recruit then they leave Most of them leaving enough because because top management and no top management opportunity to learn - Q8: What you like and dislike about LGC? • Mr Tung: Uhm, I don’t know how to say - working separately and unwilling to support and the leader here he always Support environment from other I don’t like many things here, I don’t like working environment because they are No Working - Micro - Management - HR Policies management manages in detail and very tempered man He is out of control and irritable with employees Many persons here quit their 39 job because of him What I like here? Nothing to say It may be high salary That’s it • Ms Lua: I don’t know what I like most - Unsupported because I just working here for few from months I have worked for several colleagues international company but I have never - Unhappy seen the company like this The people working here unfriendly and they are not support environment the new one even their colleagues There are many managers and supervisors come for few months and go after that because the working environment I sometime feel frustrated with the way they treat each other • Nothing to say Mr Quan: I don’t like anything I just come here because high salary That’s it • - Cooperation - Nothing Mr Phong: I most dislike the employee cooperation I am a Marketing Manager, I need to work with a team but I cannot find that in my department and in this company I try to build up a team but no one supported my idea Nothing I like say here • to Ms Thuong: I have nothing to say about what I like I rarely communicate with - Nothing to say others because I don’t have time to talk for fun • Ms Hanh: I don’t care and I also have - HR policies - Unhappy nothing to tell about this We don’t have many benefit like other company 40 • Mr Ni: Sometime I feel unhappy with my Boss And they have bad policies for staff - Will quit - No I Think employees here who did not stay for a long time with the organization due to the policies for career development and path recognition We have less motivation to work here and will quit if have a better career - No training opportunity • Ms Nhi: I looking for job I think you known I mean If I happy with company, i will stay I don’t know what is my career path and what I am will be in next – years There are no learning and growing in LGC Employees like me needs to learn every day to update our skills to work better, we have to gain experience from learning or sharing from other but I not have that opportunity in LGC Q9: Could you please share something about Management style your line manager? • Mr Tung: In my opinion, he should - style change his management style and some policies to keep talents These are the Management - Policies to keep talents cause there are many employees quit their job • Mr Ni: As I said, I have been working here for years I worked with managers - Management style with kinds of management style The like the first one Be honest, I don’t like my manager now He just payed attention to sale and more favor sale team than other I feel uncomfortable when working 41 with him because he is unclear in his • - Difference decisions management Ms Lua: Sometime he is happy, sometime styles he looks so uncomfortable No one dare to come to him And he has strange management style He wants to know everything from manager to junior staff He makes employees feel uncomfortable • - Bad when working with him management Ms Hanh: If I don’t need his support, I style would not contact him There are many - High employees resigned because of him I did Turnover exit interview and I know the reasons I rate have the same thought as them My line manager is ok But country manager is totally different with my line manager If I work direct with him, I am sure I am here until now I some time work direct with • - Unhappy him but I feel unhappy with Mr Phong: I don’t like the ways he Manager manages It is not good for his subordinate - motivation because he is so strict about hours and want to know in detail I don’t like that No - No team work He never motivated employee, he just cares about result From the first day until now, I never heard about teambuilding Just doing and must to finished daily tasks That’s why, employees have no chance for sharing and supporting - Unhappy Sometime I am confused, I not know with what to because the Boss always management change his mind style 42 • Mr Quan: My colleagues told you everything I am going to tell you That’s all I want to tell and most of employees want to tell about - Q10: How is your works? • Mr Phong: I am really interested in my job - Turnover rate - Leadership is high by myself And I need skill employee who is going with me to reach the goal I have workload tired but I feel tired, the cause is lack of people execute my plan Some time I have to Interested but High - High workload to spend a lot of time for training my subordinate If company have training for employee, I will have more time for my works I have very high workload because of lack of employees • Mr Tung: I am ok with my jobs High workload but I don’t care much if I have enough talents who can help me • - High workload Ms Lua: I am not really happy with my job because of my boss He always asking me about sale but how can I have a better sale • - Not really result when I have not enough staff happy Ms Ngan: How to say? So tired because of manager with employee resignation I don’t have enough employee to collect our loan I - Lack of staff - Tired - Lack need stable employees because I spend a lot of time for training but just in few months they resign because of policies and working environment I try best but I can nothing by myself only of employee 43 Q11: Are there anything you want to share? • Mr Tung: I hope company has more - Pay attention benefit and policies to attract and keep to develop talents Especially, should not mange in talent details We must to maintain employees issue policies with updated skills and improve them day to keep them and by day this is the only resource can make differences and bring values to our company Company should inspire employee by challenge themselves and • - Issue more recognize their contribution By this way, training company create better can improve employee and performance working Ms Lua: I want company issue more environment training class to improve skill for all Expectations employee and create more chance for them to communicate to be closer, sharing - Decrease and develop each other Employees who turnover rate have bad performance because lack of and improve training, and training can bring employees leadership together and they willing to share skill anything and that is a tool for company to - grow with the best result • Issue fair Mr Ni: we should anything to decrease evaluation turnover rate Improve leadership skill to and manage team better The same as others, I policies want to work for professional working keep talent environment and suitable to sustainable development 44 • Ms Thanh: We should update leadership - Better skill and issue suitable policies to keep working and attract talent Should have fair environment evaluation to choose the right people and put them in the right position Make the working environment fresher and better • Ms Ngan: I have nothing to share but I have suggestion Company should conduct more training for employees, - LGC need to conduct more training program especially for manager because they are keys person in each department We cannot achieve our target if we not update skill Everybody want to grow and one of the reason for high turnover is lack of training program Company paid high but that is not enough to keeping staff Training will bring many benefits to company 45 References: Marlon Problems vs Symptoms Jul 13, 2017 [Available from: https://medium.com/@m_rlons/problems-vs-symptoms-c3e3594c4f83 Becker B, Gerhart B The Impact of Human Resource Management on Organizational Performance: Progress and Prospects The Academy of Management 1996;39(4):779-801 Trần T Ngành nào tại Việt Nam có tỷ lệ nghỉ việc cao nhất? : Cafebiz; 2017 [Available from: http://cafebiz.vn/nganh-nao-tai-viet-nam-co-ty-le-nghi-viec-cao-nhat20171007172327669.chn Hà T Khoảng 20% nhân tài rời bỏ công ty trong năm nay: VNExpress; 2018 [Available from: https://vnexpress.net/kinh-doanh/khoang-20-nhan-tai-roi-bo-cong-ty-trong-nam-nay3822474.html Vindya How does Employee Engagement Impact Performance and Practical Tips to Improve It: Open Sourced Workplace; 2019 [Available from: https://www.opensourcedworkplace.com/news/how-does-employee-engagement-impactperformance-and-practical-tips-to-improve-it Ellis M Why is employee engagement so important to your business? : Proclinical; 2017 [Available from: https://www.proclinical.com/blogs/2017-7/why-is-employee-engagement-soimportant-to-your-business White SK What is transformational leadership? 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