LV thạc sỹ_Motivation employees in FIT

1 ACKNOWLEDGEMENTS There are a number of people I would like to acknowledge for their help and supports me to complete this study Firstly, I would like to send my sincere thanks to my supervisor, Dr … Most importantly, I acknowledge the co-operation of many employees and managers of FIT They generously gave time to the interviews and filled the survey, that partly contributed to my study's success Finally, I encountered and noted gratefully my family and friends who instilled me the value of honesty and hard work during the research./ Hanoi TABLE OF CONTENTS ACKNOWLEDGEMENTS .1 ABBREVIATIONS LIST OF TABLES LIST OF FIGURES EXECUTIVE SUMMARY CHAPTER 1: INTRODUCTION .9 1.1 Rationale 1.2 Research objectives 10 1.3 Research questions 10 1.4 Research methodology 10 1.5 Research scope 11 1.6 Structure of the thesis .12 CHAPTER 2: THEORETICAL BACKGROUND ON EMPLOYEE MOTIVATION 13 2.1 Definition of employee motivation 13 2.2 The Two factor Theory of Herzberg 13 2.3 Compatibility of The two factor theory with the case at FIT 15 2.4 Factors affecting employee motivation 15 2.5 Role of Employee Motivation in work place .19 2.6 Financial industry and characteristics of staff in Financial industry 20 CHAPTER 3: OVERVIEW ON FIT INVESTMENT JSC 22 3.1 FIT profile 22 3.2 FIT organizational context 23 3.3 FIT staff structure 25 CHAPTER 4: THE CURRENT SITUATION OF MOTIVATION PRACTICES IN FIT 29 4.1 Overview about FIT employee motivation 29 4.3 Analyze the factors of Herzberg Two factors theory in FIT 33 4.3.1 Analyze the hiegiene factors on employee motivation in FIT 33 4.3.2 Analyze the motivator factors on employee motivation in FIT 51 4.4 Conclusion on research results: achievement and shortcomings 61 4.4.1 Shortcomings in FIT and reasons of them 61 4.4.2 Achievement: the motivated factors in FIT 62 CHAPTER 5: RECOMMENDATION FOR ENHANCING EMPLOYEE MOTIVATION AT FIT 64 5.1 Objectives of developing FIT employees from 2010 to 2015 64 5.2 Solutions for enhancing employee motivation 64 5.2.1 Improving working condition in FIT .64 5.2.2 Creating more attractive Compensation and Benefits system 65 5.2.3 Improving Employee development policy 66 5.2.4 Establishing an employee feedback system 66 5.2.5 Improving the performance appraisal system .68 5.2.6 Diversifying the labour resources in recruitment .70 5.2.7 Making more effective reward and recognition 70 5.3 Conditions required from FIT and employees 71 CONCLUSION 73 REFERENCE 74 APPENDIXES 75 ABBREVIATIONS C&B : Compensation and benefits HR : Human resource HRM : Human resource management FIT : FIT Investment Jsc F : Frequency JD : Job description KPI : Key performance indicator LIST OF TABLES Table 2.1: The combination of hygiene and motivation factors 14 Table 4.1: The survey result of the important level of Hygiene factors 29 Table 4.2: The average important level of each hygiene and motivation factors 30 Table 4.3: The survey result of current employee satisfaction level .32 Table 4.4: The survey result of current employee satisfied level of working condition 34 Table 4.5: The annual wage fund 37 Table 4.6: The survey result of employee satisfied level of their current salary .38 Table 4.7: The survey result of employee satisfied level of payment policy 40 Table 4.8: The survey result of employee satisfied level of welfare and other benefit 42 Table 4.9: The survey result of supervisor style in assigning task 45 Table 4.10: The survey result of current employee satisfied level about company policy .46 Table 4.11: The survey result of current employee satisfied level about customer relationship 51 Table 4.12: The survey result of current employee satisfied level about recognition .52 Table 4.13: The awarding expenditure 53 Table 4.14: The survey result of current employee satisfied level about PA 55 Table 4.15: The survey result of current employee satisfied level about work itself 55 Table 4.16: The survey result of current employee satisfied level about promotion oppotunity 57 Table 4.17: The FIT training and development course in 2010 58 Table 4.18: The survey of current employee satisfied level about professional improvement oppotunity 59 LIST OF FIGURES Figure 3.1: FIT organization structure 24 Figure 3.2: List of FIT staff as by 30th August 2010 categorized by function 25 Figure 3.3: List of FIT staff as by 30th August 2010 categorized by age .25 Figure 3.4: List of FIT staff as by 30th August 2010 categorized by position 26 Figure 3.5: List of staff as by 30th August 2010 categorized by service years in FIT 27 Figure 3.6: Turn over of staff exit during last years from 2007 to 2009 27 Figure 3.7: FIT staff's qualification in 2010 28 Figure 4.1: The average important level of each hygiene factors 31 Figure 4.2: The average important level of each motivation factors 32 Figure 4.3: The current average and standard deviation of employee satisfied level .33 Figure 4.4: The current average employee satisfied level on working conditions 34 Figure 4.5: The current average employee satisfied level of their current salary 38 Figure 4.6: The current average employee satisfied level of payment policy 40 Figure 4.7: The current average employee satisfied level of welfare and other benefits 44 Figure 4.8: The survey result of supervisor fairness vs unfairness in treating employee 45 Figure 4.9: The average score of current employee satisfied level about company policy 47 Figure 4.10: The survey result of current employee satisfied level about working interpersonal relationship 49 Figure 4.11: The average score of current employee satisfied level about clear delegation 56 Figure 4.12: The time duration of training course 59 Figure 4.13: The training choosing 60 Figure 4.14: The effectiveness of training 60 EXECUTIVE SUMMARY In recent years, intellectual blooding has happened in any company or organization despite of its size and scope The rate of this situation has gradually increased year by year In the context of intergration, when Vietnam is joining WTO, there are more and more job oppotunities for everyone In the same time the competition between companies for good staff become fiere day by day, particurlarly in fincancial field, where FIT Investment Jsc.(FIT) is operating in Staff turnover in FIT is high in the last years and this trend happens as a phenomenon It is possible that FIT may recognize this issue but they have not yet considered it as an important thing in order to have solution to promote their employees' motivation They also may not know about its impact to the organization as a whole Whatever it is, there has not been any research on this issue FIT also has not yet invested any effort to study which factors cause this high rate In other words, FIT has not yet looked at the actual situation on motivation to find out what the employee motivation is FIT is and what factors influence their staff's commitment Therefore how to enhance employee motivation in FIT is an essential requirement As a Deputy general manager in FIT in charge of Human resource, the author is eager to the research on " Motivation employees in FIT: analysis and recommendations" Such idea has been matured for quite a while since last years when the author chose Human Resource Management as a career to pursuit for her career development Also comming from root cause as mentioned above, the author has decided to bring her idea on a research in which the author would like to explore what FIT's staff perspectives on motivation and to see their commitment to the organization In other words, the author wants to see the real picture of employee motivation and see how the motivation factor influences the employee's commitment, consequently and finally to find out solutions for enhancing FIT employees' motivation The Author has collected secondary data mainly from FIT's policies and reports such as FIT annual reports, FIT Human resource manual policy, FIT Financial policy, FIT's management team's minutes, FIT strategy and policy Beside, the author also collected data from websites as well For primary data she collected through survey and interview of FIT staff and ex-staff The quantitative and qualitative methods were both used for analyzing the data The author has applied Microsoft Excel, power point to process it The author has applied Two-factor Theory of Frederick Herzberg to analyse the problems Through the research, the author found some shorcomings in employee motivation at FIT such as: working condition (the working place is too small, lack of transportation means); compensation and benefits (the salary is not effective in the current amount, salary increasing policy, payment policy and reward policy); weak interpersonal relationship between other departments and between managers and staff; ineffective recruitment; the performance appraisal is not good; ineffective in reward; few promotion oppotunities for FIT employees The author also has proposed appropriate solutions to cover the shortcomings They are improving working condition in FIT; creating more attractive compensation and benefit system; improving employê development policy; establishing an employee feedback system; improving the performance appraisal system; diversifying the labour resources in recruitment and making more effective reward and recognition This is a practical research and it is highly appreciated by FIT leaders It is hope that its result would be applied into practice as long as the research was completed CHAPTER INTRODUCTION 1.1 Rationale We are now living in the modern world, where business environment rapidly changes day by day In 2008 and 2009 the world economy has been faced with economy downtrend which resulted from financial crisis A lot of companies filed for bankruptcy, others have been merged and a number of new companies were born So this change creates opportunities as well as challenges for both employees as well as employers Besides it Vietnam just entered WTO, open the door for foreign companies to enter Vietnamese market And the last but not least is that in order to stimulate economic growth the Government encourage opening of small & medium enterprises in all sectors, including finance & security So we can see the booming of Funds and Security companies in the period from 2007 to 2010 These companies attract a big number of intellectual labor force and create a fierce competition among them for labor force While number of investment companies are increasing in Vietnam, the current human resources shortage in the development sector threatens the quality and stability of investment and financial services At the same time the increasing turnover of employess in investment and security companies creates the preposition of working condition and benefit in working in development sector Under the period of industrialization and intergration into the world economy by joining the World Trade Organization (WTO), in recent years, intellectual blooding has increased year by year both in Vietnamese companies and International organizations Moreover, financial investment environment is active and dynamic in which their staff have many good oppotunities to experience their skills This is the reason why many staff change their jobs from this company to another company among financial companies and organizations It is far diffirent from Vietnamese offices where staff often find stability and closed ties Being affected in such context, FIT also has to face with high turn over rate recently By focusing on perspectives of FIT's staff motivation, this study particularly intends to answer the following research questions: 10 1.2 Research objectives In order to deeply understand the problems, this research focus on the following objectives: To analyze current situation of motivation practices in FIT To find out motivating factors and de-motivating factors in FIT To make recommendations to enhance employee motivation in order to attract, maintain and develop employees in the company 1.3 Research questions To conduct the research, the author has set up below questions that require the research to show out: What is the actual employee motivation at FIT? What are motivating factors at FIT? What are de-motivating factors ? What are solutions for enhancing employee motivation ? 1.4 Research methodology To the research, the following methods were used for analyzing and researching the problems: 1.4.1 Research process: Step 1: Collect secondary data for theoretical background Step 2: Collect secondary data about FIT Step 3: Perform in-depth interview Step 4: Design questionnaire Step 5: Implement survey Step 6: Analyze the result Step 7: Recommend and suggest solutions 1.4.2 Research data collection: Secondary data: Secondary data was collected mainly from FIT's policies and reports such as FIT annual reports, FIT Human resource manual policy, FIT Financial policy, FIT's management team's minutes, FIT strategy and policy Beside, the author also collected data from websites as well Primary data: 65 The second problem is old fachion computors They can be used for salemen With the laptop, salemen can work more effectively, they can easier show the products, services of the company to customers So the company can provide lap top for very sale men The laptop still stays as company asset and the employee who leave company should return it to the company The second solution for laptop is company subsidize 50% cost of the lap top, employee pays for another 50% cost with cost limitation up to VND 10 million The third problem is transportation mean Due to the limitation of company's cars, to reduce the employee inconvenience, FIT is recomended to buy service from taxi Mailinh The company can make cards for common use, which are managed by Admin officer, and individual cards for managers 5.2.2 Creating more attractive Compensation and Benefits system Firstly, FIT's leaders should be aware that Salary is not only a work's value, but human being's value Salary should be structured based on the position, competency, staff's career development and performance, incentive must be based on staff's performance Compensation = Salary + incentive + other benefits If it is not treated equally, it will lead to demotivation among staff Basic Salary scheme must be in conjunction with Piece wage scheme Currently, the salary and Piece wage scheme of the company still can not meet that requirement Now all back office staff and salestaff have the same salary and piece wage scheme HR department should adjust it so that back office have good basic salary to attract and retain high skill & experience staff like accountants, stock analysits; salesmen have reasonable salary and attractive piece wage to motivate them achieve higher target In stock market, there's a peak time and low time of transactions So the incentive scheme for salesmen should be flexibly considered by seasons Eg for normal period, the company can pay salesmen 5% of their turnover, but for low season, the author suggests the company to pay variable rates from 5% to 10% of turnover In order to make fair bonus for all staff, the annnual bonus should be trictly based on the PA that agreed by both sides: employee and supervisor Since salary is one of factor make employee to leave the company, FIT should serously consider the competition of their salary scheme in the market so that the company can create 66 more attractive salary scheme to retain employees, especially those senior staff and managers whose experience and competency are qualified 5.2.3 Improving Employee development policy According to Herzberg's research, he said money is a motivator but not decisive factor The employee needs to have an interest in the job that makes it worthwhile They need to be promoted in career development or more challenging and varied work It should be reviewed at FIT to put promotion policy on the HR policy manual FIT satff will contribute further when they know their efforts are recognized and their position will be promoted to higher post A qualified and experienced staff often have promotion need They always are eager to find out promotion oppotunities for their career development They perceive that if they not develop, they will be backward Therefore, FIT should grasp these needs to expose next great advance for their employees together appropriate training programme, especially to managers and high committed staff More importantly, the company leaders must know every staff's development needs and base on the available budget to develop their employee at the most effectiveness Performance appraisal should be linked with employee development, all employees at FIT should be influenced and promoted their career development through performance appraisal Performance appraisal should be a good indicator for the employee development However, inorder to stimulate staff to achieve those PA's objectives, it is suggested to link payperformance as mentioned above Traning and development programmes should be designed and assessed in the company as a whole year Due to decentralize system, all line managers should coordinate with the HR department in setting up a Training need assessment (TNA) at the beginning of the year or on the occasion of staff appraisal Then HR department and the line managers can find appropriate training courses to the employees ( both internal and external sides ) 5.2.4 Establishing an employee feedback system Feeback is comminication, which offers information to an individual or group about how thier performance, results or behaviors are perceived or assessed by other (BBP Professional) 67 As mentioned in the last chapter, one of the most importnat reason lead to the demotivated employee in FIT is lacking employee feedback, the weak relationship between authority and responsibility of supervisor Lacking employee feedback take oppotunities for supervisors, managers be subjective in their decision making, bias employees whom they have good relationships That is the reason why the salary policy is rather good but the manager's applying in practice is not well; the promotion is unfair sometime, the recruitment is ineffective Thus it is very important for FIT to establish an employee feedback system An effective feedback system demostrates the employee's commitment, fosters trust between management and employees, and recognizes the value of employees to the success of the company It will reduce the bias, bureaucracy, and corruption of supervisor Beside that, implementing suggestions from employees provides employees with recognition for their ideas and contribution to the company and acts as a motivator in and of itself Eshtablishing an employee feedback system need the corporation of both managers and employees For mangers, firstly, managers should provide feedback to employee in every working process: from the beginning to the end to help employee understand how they are working Secondly, before and/or after each decision and comment, manager must explain clearly the reason for employee and listen to their ideas Eg when notice promotion, training or salary decision, the supervisor should explain the criteria assessment, and the reason of this changing Thirdly, manager should listen to employee suggestion To be more effective, FIT should design a form for each specific suggestion purpose after receiving the suggestion, manager should consider and evaluate their feasibility: if it adds value to the department/company, it can be done, then it; if the suggestion doesn't support the department/company business objectives and needs, then decline it and explain why Manager should set a target response time ( i.e three days) to evaluate suggestion If the suggestion need to be brought to the next level of authority, identify how this will happen, the target response time for this suggestion and how employees will be noticed that their suggestion will take longer to respond to And finally, manager implement the suggestion From employees, they need provide feddback to managers too With suggestion form they can suggest their ideas to protect their self-interest and solution for company development The following are some general guidelines for FIT employee giving constructive feedback: (BBP Professional, wroking with leading people) 68 - Choose the right time Feedback should be given close to the event, so that the details are fresh in both parties' mind but with sensitive to the appropriate time and setting Feedback is best given almly and confidentially - Start with positives People will more readily accept criticism as constructive if it is balanced with acknowledgement of positive aspects - Focus on the behavior Feedback needs to refer clearly to behaviors, actions and results - not the person or their personality ("Tough on the problem, soft on the person" is a good general rule.) - Be accurate Feedback needs to be specific, avoiding vague and global statement (E.g , not "you always bias" but "in this year, three times my salary is reduced withour any explaination") and avoiding inferences and assumption - Don't tackle everything at once Give the person one or two priority areas to deal at a time - Close with encouragement Balace negative feedback with positive encouragement that change is possible and will be support by employee and the company 5.2.5 Improving the performance appraisal system PA is the proccess whereby an individual's performance is reviewed against prevously agreed goals, and where new goals are agreed which will develop the individual and improve performance over the forthcoming review period PA system should be well and specially to improve the efficiency of the organization by ensuring that the individuals within it are performing to the best of their ability and develop their potential for improvement PA results are used for human decision making: salary and reward, training, promotion, achivement and recognition However, the company's PA system is not good, there are no assessment feedback to employees, to much power for managers to assess employee performance and employees are on the contrary To have an effective PA system, FIT chould change their current PA system as follows: * Procedure: beside the old steps: Step 1: employees write a PA report using a model form by supevisors and submit to the direct supervisor Step 2: based on the individual's PA report, the supervisor assess the employee performance Author suggests one more steps The new PA system procedure will be as follows: - Step 1: identify the assessment criteria: the supervisor discuss with employee to identify the criteria for assessment 69 - Step 2: appraisal interview: the supervisor doing an interview with employee for the purpose of an exchange of view about the results of the assessment, target for improvement, solutions to problems and so on This step ensures the fair of the supervisor assessment, because when everything is explained clearly by both parties, the bureaucracty is reduced - Step 3: notice PA results, implement action plan to achieve improvments and changes agreed There are basic ways of approching appraisal interviews: (i) the tell and sell method: the maanger tells the subordinate how s(he) has been assessed, and then tries to "sell" ( gain acceptance of ) the evaluation and any improvment plans (ii) The tell and listen method: the manager tells the subordinate how s(he) has been assessed, and then invites comments The manager no longer dominates the interview throughout, and there is a greater oppotunities for counseling as opposed to pure direction The employee is encouraged to participate in the assessment and the working out of improvement targets and methods, change in the employee may not the sole key to improvement, and the manager may receive helpful feedback about job design, methods, environment or supervision (iii) The problem-solving approach The manager abandons the role of critic altogether, and become a counselor and helper The discussion is concentrated not only on assessment of past performance, but also on future solutions of the employees's work problems, think solutions through, and commit himself to improvement This approach is more involving and satisfying to the employee and may also stimulate creative problem solving * Person doing the PA In FIT now, the employee him or herself and the direct supervisor implement the PA To have more effective PA system, beside this person above, FIT can use the peer and co-worker ( peer appraisal), external customers, subordinates to assess employee to have more exact results * For some important positions: in step 2, FIT can use 360 degree feedback method This is an approach which collects comments and feedback on an idividual's performance from all these course and adds the individual's own self-assessment The advantage of 360 degree feedback are: (i)highlights every aspect of the indivisual's performance, and allows comparision of the individual's self assessment with the view of other (ii) Feedback tneds to be balanced, covering strengths in some areas with weaknesses in others, so it is less discouraging (iii) The assessment is based on real work - non artificial (e.g interview) 70 situation The feedback is thus left to be fairer and more relavant, making it easier for employee to accept the assessment and the need for change and development 5.2.6 Diversifying the labour resources in recruitment Although FIT has a specific recruitment procedure, it rarely to be observed in practice Using internal resource and employee relationship may limit the quality and quantity of candidates Wrong recruitment leads to ineffective performance, inefective training, ieffective compensation and benefit, and ineffective promotion To reduce this risk, FIT should diversify the labour sources in recruitment: suing both internal and external resources For internal resouce, the recruitment for any position must be public to every employees, every employee who met the recruitment criteria can join the recruitment process For external resource, besides using the introduction of employee method, FIT should focus much more on other resource like students who have just graduateed, and using other methods as follows: - Advertising to attact candidates can be placed in appropriate publication like daily newspaper ( Laodong, nien, ) The cheapest way to advertise is on FIT website and professional recruitment website like: vietnamwork.com, hrvietnam, tuyendung, chonviec, ungvien, - Recruitment consultants: assist clients in selecting the best staff to fullfil particular vacancies - Building relationship with local colleges and universities like NEU, - Joining working fair of Labour ministry - Job centre The selection process must be implemented carefully The entrance test and interview must ensure the suitable quality of pass employee 5.2.7 Making more effective reward and recognition There should be flexible rewards and recognitions that FIT can Due to the limited budget for it, FIT supervisors can use a note with special thanks to their employees or except for that employee to use schedule flexibility, a paid day off or even a lower on a desk a thank you note, or a free dinner coupon for their family to a restaurant, The supervisor or the company should organize a small party and appreciate their employee on the occasion of their birthday in front of all staff 71 While most employees certainly appreciate monetary awards for a job well done, many people merely seek recognition of their hard work FIT should present this oppotunitiy to motivate their employee It should be: - Timely: ensure that the recognition is delivered in a timely manner - Inclusive: recognize associates at all levels, as well as all members of a team for a Team award - Appropriate: recognize with the right reward for the right behavior - Consistent: strive to recognize associates regularly - not just associates on high-profile project - Creative: be creative in taking advantage of all types of recognition available, including public recognition at team meetings, sending thank notees, FIT also should understand that diffirent employees preffer diffirent rewards and recognition programmes Recognition can take a variety of forms structured programs can include regular recognition events such as banquets or lunch, employee of the month or year recognition, an annual report or yearbook which features the accomplishment of employee, and department or company recognition boards Informal or spontaneous recognition can take the form of privileges such as greater choice of assignment, increased authority, or naming the employee as an internal consultant to other staff Symbolic recognition such as plaques or coffe mugs with inscriptions can also be effective, provided they reflect sincere appreciation for hard work These latter expressions of thanks, howerver, are far more likely to be received positively if the source is a small business owner with limited financial resources Employees will work less kindly on owners of thriving businesses who use such inexpensive items as centerpieces of their reward programs By applying this bonus programme, the employee will try their best effort in performing work to gain this achievement All those recommended rewards and recognition should be reviewed and put at in HR policy manual 5.3 Conditions required from FIT and employees In order to make all the above mentioned solutions to come true and really improve the employee motivation situation in FIT, it is request support from both parties: FIT and its employees 72 What does it requests from FIT? First of all, the leaders of FIT should make management team understand the importance of employee motivation in the development of the company Managers should be the first people to participate in the reform And then make employees actively involve in the reform of policies Secondly, the company should pay a sufficient attention to HRM Let's say about recruitment of a professional HR officer; management of HR policies and execution After that FIT need to prepare an appropriate financial budget for executing policies What does it requests from FIT's employees? To improve the situation the employees should be proactive in the reform process They should understand that their development is closely linked with the growth of the company, that "Every one is a part of the company, no one is aparted of the company" In order to it, employees should firstly improve themselves about their skills, knowledge and attitude at work To reach this goal there is no other way than joining training courses, coaching each other on job, etc Secondly, they should limit their personal characteristics in order to have good team building Thirdly, they need to actively initiate the ideas and propose to management team to make it realized if it is feasible And the last but not least that employees should understand their positions, respect for people, for the company and for company's policies so that they will obey the policies with enthusiasm 73 CONCLUSION In summary, FIT and its managers totally realize how critical employee motivation is to the success of the organization Actually, the company has created some good policies in which there are many benefits to its staff such as social, healthy & unemployment insurances, training policy However, FIT still have some weaknesses lead to ineffective employee motivation, that make a high turn over rate and low commitment of employee These are the lacking of employee feedback; ineffective company policies like performance appraisal, recruitment, compensation, reward and recognition, promotion; inconvenient working condition based on these weaknesses, the author suggested some solutions to enhance the FIT employee motivation: improving working condition, creating more attractive Compensation and Benefits system, improving Employee development policy, establishing an employee feedback system, improving the performance appraisal system, creating more interesting and challenging work, diversifying the labour resources in recruitment, making more effective reward and recognition END 74 REFERENCE Nguyễn Hữu Thân (2006) Quản trị nhân lực Nhà xuất thống kê Ths Nguyễn Vân Điềm & PGS.TS Nguyễn Ngọc Quân (2006) Giáo trình quản trị nhân lực Nhà xuất thống kê BBP Professional,(2004) Organization and behavior BBP Professional,(2004) Working with leading people Businessball, Frederick Herzberg motivational theory (online) Available from http://www.businessballs.com/herzberg.htm, access on 2009 Daniels, M (2001) Maslow's concept of self-actualization Retrieved Feb 2004 E Mathes (1981, Fall) Maslow's hierarchy of needs as a guide for living Journal of Humanistic Psychology, 21, 69-72 Federick Herzberg, Bernard Maustner, Babara Bloch Snyderman,(2008), 11th ed, The motivation of work, Transaction publishers Foundations of management 2009 NEU-NEU business school-EMBA program 10 J Stacy Adams,"Injustices in social exchange", in Advance in Experimental Social Psychology, 2nd edition, (Newyork:Academy press, 1965) 11 McCleland D (1985) Human motivation New York: Scott, Foresman 12 Ryan, R., & Deci,E (2000) Self-determination theory and the facilitation of intrinsic motivation, social development, and well-being American Psychologist, 55(1), 68-78 13 Policies and reports of FIT investment Jsc Website: 14 Cooperate leadership council, creating an effective reward and recognition program http://www.performancesolutions.nc.gov/ /RewardandRecognition/ /CLCrewards&recognition.pdf 15 Victor Ng Oct 31,2008 Top 10 factors that motivate employees http://www.smbworldasia.com/en/content/top-10-factors-motivate-employees 16 http://vi.wikipedia.org/wiki 17 Kiều Linh (13/12/2009) Trả lương thưởng cổ phiếu Báo Đầu tư http://phapluattp.vn/20091213091356504p0c1017/tra-luong-thuong-bang-co-phieu.htm 75 APPENDIX EMPLOYEE MOTIVATION QUESTIONAIRE Fist of all, I would like to thank for your cooperation to complete this questionnaire Your information is very useful for me to understand about the FIT’s employee motivation, give some suggestions to improve this performance in your company You are not request to provide the name or other personal information You can skip any question if you not feel comfortable to answer I commit that all of your information is only used for the objective research, not for any other benefit purpose I General information Age: Department: Education: Sex: Position: Year of working in FIT: II The important role of Hygiene and Motivation factors Please rate the important level of this hygiene factors which keep you stay with your company Not important Normal Very important/great significance Working conditions (Facilities, machine, tool, space, room…) Salary, compensation, welfare (Vacation, discount policy when using company product) Safety (Safe about working environment, stable, stable job, your transportation when doing business…) Company policy and administration Interpersonal relations – supervision in your company (the open-mind of employee doing their job) Please rate the important level of these factors in motivating you on your work Not important Normal Very important/great significance Achievement (Complete your job, suggestion solutions for problems) Recognition (of supervisor, of subordinate, professional colleague with or without award given) Responsibility (Having clear, detail responsibility in your work) Challenging, interesting job The interpersonal relations with customer, partner (Your job make you a chance to have more relationship to possible earn more money) Promotion opportunity (Opportunity to have higher position in your company) Professional growth (Your work will give you a chance to be trained, have more knowledge, skills, improve your capability) Please evaluate your current working satisfaction: 76 □ Very dissatisfy □ Normal □ Very satisfy □ Dissatisfy □ Satisfy III Appreciate the hygiene and motivation factors Please rate your satisfy level of these factor below Dissatisfy Normal Very satisfy 4 Working condition General working condition Office equipment (computer, printer, photocopy, telephone, mobile phone…) Stationary Transportation for business Working room (area, temperature, noise) Security in working place If choose the answer or 2, please write your reasons: Salary, other benefit and reward 5.1 Your satisfaction about salary, other benefit and reward in comparison with other employee in your company The current salary The current welfare Salary increasing policy Payment policy Reward policy If choose the answer or 2, please write your reasons: 5.2 Your satisfaction about salary, other benefit and reward in comparison with other employee in other industrial company The current salary The current welfare Salary increasing policy Payment policy Reward policy If choose the answer or 2, please write your reasons: 5.3 Your satisfaction about salary, other benefit and reward in comparison with your achievement The current salary The current welfare Salary increasing policy Payment policy Reward policy If choose the answer or 2, please write your reasons: 77 Company policy and administration 6.1 Human resource policy Recruitment policy Promotion policy Training policy 6.2 Organization policy 6.3 Financial policy If choose the answer or 2, please write your reasons: 6.4 Among the following factors, which affects you most in your promotion? Please give the score from to (1 is the most importance) □ You current year achievement □ Your whole achievement □ Your relationship □ Tour certificate, education 6.5 Your satisfaction about the company training policy 6.5.1 Selected trainee □ Suitable □ Unsuitable □ Some suitable, some unsuitable 6.5.2, The time limit of training course □ Suitable □ Unsuitable □ Some suitable, some unsuitable 6.5.3 The effective, helpfulness of the training course contents: □ Very effective, helpful □ Effective, helpful □ Normal □ Not effective, helpful Technical supervision 7.1 The way your superior assigns task: □ Assign task without caring about employee’s capability, education and experience base on personal relationship □ Assign task without caring about employee’s capability, education an experience □ Assign task base on employee’s capability, education an experience □ Assign task base on employee’s capability, education an experience, assign other to help and support employee’s work or adjustment employee’s duty when necessary □ Assign task effectively, give employee a chance to improve capability, encourage employee doing new task, assign other staff to help and support employee’s work or adjustment employee’ duty when necessary 7.2 Is your supervision fare in treating employee? Yes Neutral No Employee relationship Please choose one phrase that is most right with you in: 8.1 The cooperation of other employee in your department when you are working with: □ People are trying to push responsibility, just enthusiastic cooperation based on personal relationships □ Some employee cooperate, some not, try to push responsibility □ All people only cooperate within their cope of their duty, don’t care about your working completion □ All people only cooperation within their scope of their duty Guild you to other department if it is out of their duty, helping you complete your job □ Everybody are enthusiastic in helping you complete your work well 8.2 The cooperation of employee in other department when you are working with: □ People are trying to push responsibility, just enthusiastic cooperation based on personal relationships 78 □ Some employee cooperate, some not, try to push responsibility □ All people only cooperate within their cope of their duty, don’t care about your working completion □ All people only cooperation within their scope of their duty Guild you to other department if it is out of their duty, helping you complete your job □ Everybody are enthusiastic in helping you complete your work well Customer, partner, relationship 9.1 Does your job give you a chance to establish personal relationship with the customer and/or partner? □ Very little or not □ A little □ Normal □ Many □ More 9.2 Does the relationship above give you a chance to earn more money beside your job? □ Very little or not □ A little □ Normal □ Many □ More 10 The recognition about your job 10.1 The superior’s recognition about your working effort 10.2 The colleague’s recognition about your working effort 6.3 Financial policy 10.3 The performance appraisal: The performance appraisal procedure The performance appraisal cycle The performance appraisal appraiser The performance appraisal method The performance appraisal results 1 2 3 4 5 1 1 2 2 3 3 4 4 5 5 1 2 3 4 5 11.2 Your satisfaction about your clearly responsibility when being assign task 12 Your current interesting and challenging work 13 Promotion opportunity 14 Professional growth when working in your company 2 3 4 5 11 The responsibility assignment when doing the job 11.1 You understanding about: The job description content The performance standard content The job specification content Thank you very much! 1 79 APPENDIX THE IN-DEPTH INTERVIEW QUESTIONS GUIDELINE I General information Age: Sex: Department: Position: Education: Major: Year of working in FIT: II In-depth interview questions What did your company to motivate employee? How about your company's employee motivation policy? In your opininion, how you evaluate the employee motivation activities of your company? In your opinion, what is the most employee satisfied factor? In your opinion, what is the main reasons of leaving employee? Describe and explain your training policy? What are the most important factors affected the employee promoted oppotunities? How you feel about the inter-relationship between your company employees? What you think about the salary policy in FIT? Does this salary policy ensure the internal and external fairness? 10 Your assessment about the FIT's policy and administration? 11 What you think about FIT's reward and recognition scheme? 12 How about your department turn-over rate? ... ON FIT INVESTMENT JSC 3.1 FIT profile FIT Investment Jsc is a company involving in financial investment, financial services, particularly in security & real estate fields It was established in. .. practices in FIT To find out motivating factors and de-motivating factors in FIT To make recommendations to enhance employee motivation in order to attract, maintain and develop employees in the... particurlarly in fincancial field, where FIT Investment Jsc. (FIT) is operating in Staff turnover in FIT is high in the last years and this trend happens as a phenomenon It is possible that FIT may