Ineffective workplace culture at phu nhuan exchange propertyx joint stock company

UNIVERSITY OF ECONOMICS HO CHI MINH CITY International School of Business Tran Thi My Linh INEFFECTIVE WORKPLACE CULTURE AT PHU NHUAN EXCHANGE PROPERTYX JOINT STOCK COMPANY MASTER OF BUSINESS ADMINISTRATION SUPERVISOR: LE THI THANH XUAN Ho Chi Minh City – Year 2020 Contents Executive Summary 3 INTRODUCTION 1.1 Hung Thinh Corporation overview 1.2 PropertyX Joint stock company overview 1.3 PropertyX’s structure PROBLEM CONTEXT 2.1 Industry context 2.2 Company context PROBLEM IDENTIFICATION 11 3.1 Symptoms 11 3.1.1 Lowest revenue among exchange systems 11 3.1.2 Highest turnover rate 11 3.2 Potential problems 12 3.2.1 The First Potential Problem: Ineffective Leadership 14 3.2.2 The Second Potential Problem: Ineffective Employment 15 3.2.3 The Third Potential Problem: Ineffective Workplace culture 16 3.3 Central problems 22 3.3.1 Definition 22 3.3.2 Problem consequences 23 3.3.2.1 Poor working conditions 23 3.3.2.2 Poor work-life balance 24 3.3.2.3 Low employee engagement 24 3.3.2.4 Lack of Training & Development focused 25 3.3.2.5 Lack of Transparent & Open communication 26 3.3.2.6 Weak Team spirit 26 CAUSE AND EFFECT MAP 28 4.1 Potential Causes 28 4.1.1 The first potential cause: Rigid Policies 28 4.1.2 The second potential cause: Weak of management practices and the formal socialization process 29 4.1.3 4.2 The third potential cause: Autocratic leadership 30 Cause validation 32 ALTERNATIVE SOLUTION 33 5.1 1|Page The first alternative solution: Changing leadership style 33 5.2 The second alternative solution: Replace position - Director of Phu Nhuan’s exchange 36 5.3 Solution validation 38 ACTION PLAN 39 6.1 Action Plan 39 6.2 Effectiveness measurement 41 Conclusion 42 SUPPORTING INFORMATION 43 7.1 Appendix: 43 7.2 References 54 LIST OF FIGURES Figure 1: Top 10 Most Reputable Property Developers 2019 (Source: Vietnam Report, Top 10 Reputable Real Estate Companies 2019, March 2019) Figure 2: Company structure (Source: Company website) Figure 3: Exchange structure (Source: Company website) Figure 4: Top Most Reputable Real Estate Agencies 2019 Figure 5: Initial Symptom and Potential problems diagram 20 Figure 6: Updated Initial Symptom and Potential problems diagram 22 Figure 7: Initial Cause and effect tree 31 Figure 8: Final Cause and effect tree 32 Figure 9: Leadership Style 33 LIST OF TABLE Table : Annual Revenue report of PropertyX 2016-2017-2018 (Source: Company report 20162017-2018-2019) 11 Table 2: Turnover rate 2016-2019 (Source: Human resources report 2016-2019) 12 Table 3: Number of employee - Phu Nhuan 2019 (Source: Human resources report 2019) 12 Table 4: Board of Management’s expectation on replacing director position effectiveness 41 2|Page Executive Summary This thesis provides an analysis and evaluation of the ineffective workplace culture of Phu Nhuan exchange, one of the PropertyX exchange systems and recommends the solutions to improving the sale revenue and decrease the high turnover rate Methods to find out the central problem of Phu Nhuan include primary data from internal and company reports, tworound in-depth interview and related literature frameworks Results of the finding show that leadership style is not suitable with Phu Nhuan exchange anymore and have bad effect to employee performance and engagement Further investigations reveal that good or positive workplace culture has many benefits such as: higher employee’s performance, increase employee satisfactory and engagement, lower turnover rate, higher team spirit Of course, Phu Nhuan will face many challenges if they want to successfully implement the leadership style changing These include challenges from replace senior position as well as changing workplace culture and the pressure to get the sale target In addition, the thesis will base on the main cause of the effect of autocratic leadership style to propose two alternative appropriate solutions: The first is changing leadership style and the second is replacing director position by promoting person from other exchange Based on relevant factors as well as considering advantages and disadvantages, a detail action plan was conducted to implement the second alternative solution is Replacing director position by promoting person from other exchange for better workplace culture This will help to predict accurate measurement of figure performance to determine whether Phu Nhuan invest in this project 3|Page INTRODUCTION 1.1 Hung Thinh Corporation overview Hung Thinh Corporation had more than 17 years of run in the field of real estate at Vietnam Company have the efficient board of director, right strategy and the efforts of whole employees Hung Thinh brand is is one of the strongly named in the market and continually develops into a well-known real estate company not only in Ho Chi Minh city but also expand to many other provinces Hung Thinh Corporation has more than 50 member companies, representative offices and system of property exchanges Company has over 2,500 staffs working in the fields of investment, architectural design, construction, furniture, distribution and many kinds of fields to meet the growing development target More than 50 member companies run in many kinds of different sector to help Hung Thinh Corporation to form a closely associated process in real estate supply chain This provides the high quality products at reasonable prices for company’s partners and customers Hung Thinh Corporation always focuses on real estate development as the foundation for all business activities is Invest in real estate field will help to create stable and sustainable growth and affirm are the comprehensive strengths of corporation Hung Thinh try to use the strength of exploitation and available core competencies to expand investment to other fields, company is always committed to bringing good values to partners and customers The Board of Directors and every employees of Hung Thinh Corporation always try to bring to the market the quality projects and become a reliable name in the market Member Companies Hung Thinh Land Joint Stock Company ( Hung Thinh Land ) Hung Thinh Incons Joint Stock Company ( Hung Thinh Incons ) Property X Joint Stock Company ( PropertyX ) Hung Thinh Furniture Joint Stock Company (Hung Thinh Furniture) Prowind Architecture Joint Stock Company (Prowind Architecture) Nam Hung Thinh Housing Trading Joint Stock Company Cong Ty Co Phan Dich Vu Giai Tri Hung Thinh Quy Nhon Binh Trieu Engineering And Construction Joint Stock Company Hung Loc Investment Business Joint Stock Company Viet Tam Joint Stock Company Hung Thinh Cam Ranh Limited Liability Company Khai Huy Quan Corporation Lam Vien Investment And Commercial Service Joint Stock Company 4|Page Doi Dua – Hoan My Trading And Service Joint Stock Company Gia Dinh Star Investment Jont Stock Company Cam Ranh Mystery Joint Stock Company Thuan Thanh Phat Co., Ltd Khai Thinh Real Estate Joint Stock Company Hung Loc Tree Business Investment Joint Stock Company Indec Infrastructure Development Joint Stock Company On March 15, 2019, Top 10 Prestigious Real Estate Companies in 2019 was announced Vietnam Report JSC This is an independent research result of Vietnam Report published annually since 2016 The result based on: - Media Coding method has been applied by Vietnam Report and its partners since 2012, and put together with in-depth research with high growth potential industry such as: Banking, Insurance, Securities, Food – Drinks, Retail… Media coding method is used to evaluate media prestige by encoding related company articles on some influential media channels; survey of industry experts; survey of residents living and working in big cities on the level of satisfaction with products or services - Financial capacity is used to evaluate the prestige of companies by using the recent company financial - The survey on the operation situation, number of projects, progress of project handover, etc… in 2018 – 2019 is also used as an additional factor to determine the position of enterprises in the industry Based on the result of the research, Hung Thinh Corporation is at 7th position 5|Page Figure 1: Top 10 Most Reputable Property Developers 2019 (Source: Vietnam Report, Top 10 Reputable Real Estate Companies 2019, March 2019) 1.2 PropertyX Joint stock company overview PropertyX is one of member of Hung Thinh Corporation PropertyX has real estate exchanges systems and over 1,200 emloyees working at Ho Chi Minh and other provinces in the country such as: Ha Noi, Binh Dinh, Vung Tau Based on mission and strategic vision of Hung Thinh Corporation, PropertyX try to bring high quality products to customer and continue on the way to develop a sustainable community Company vision is developing PropertyX to be the the biggest and prestige real estate business and distribution company not only at Ho Chi Minh City but also in Vietnam By providing quality and affordable products with increasing value over time, PropertyX is always tries to build the civilized and prosperous community Besides that, preparing the high quality employees to develop the company’s competitiveness; try to get the development of the economy and creating many great values for the society PropertyX’s target is "Professionalism - Efficiency - Sustainability" Company always focuses on building the professionalism with a pioneering strategy by training and changing to adapt globalization every day PropertyX provides the diversity of products, trying to bring to customer as much as possible high quality product with suitable price to maximize the value of each project in order to bring the highest efficiency to customers PropertyX believe 6|Page that a sustainable society is the most important factor to develop the company successful Therefore, company strongly focuses on improving the quality of community, nurturing and creating good living values in the society Company’s mission is developing the civilized and prosperous community PropertyX tries to build good conditions for employees to develop their abilities and encourage them to learn and develop their knowledge It will help them to have higher performance and make loyal with company All employees worked at PropertyX will be respected, listened and shared by board of director and leadership teams Besides that, PropertyX believe that focus on training is a good way to invest for the Company’s future success Therefore, PropertyX usually organizes many training course to develop soft and hard skills They will clearly shape employee’s career path forward to the best goals Training activities are organized to build and develop qualified employees in terms of quality and quantity to meet the requirements of work regularly Moreover, with team building each months for all employees connect with training is an effective way to help develop staffs knowledge and team sprits With many kinds of activity, Board of Directors of company has always orientated PropertyX to become a good workplace for all staffs With ideal workplace, employees can get the high performance than company’s expectation Company Projects: Condominium 8x Thai An, 12 View, Thien Nam Apartment, 91 Pham Van Hai, 8x Rainbow, 8x Dam Sen, 8x Plus, Sky Center, Melody Residences, Florita, Vung Tau Melody, Lavita Garden, 9view Apartment, Saigonmia,Citizen.Ts, Moonlight Residences, Moonlight Park View, Moonlight Boulevard, Richmond City, Lavita Charm, Q7 Saigon Riverside Complex, Q7 Saigon Riverside Complex,Quy Nhon Melody, Q7 Boulevard, Vung Tau Pearl, Grand Center Quy Nhon Land Plot – Villa Hung Thinh Villas, La Residence Hung Thinh, Sentosa Villa, Golden Bay - Cam Ranh, Khanh Hoa, Cam Ranh Mystery Villas, Saigon Mystery Villas, Golden Bay 602, Bien Hoa New City, Ba Ria City Gate, Para Draco, Vinh Long New Town 1.3 PropertyX’s structure PropertyX has Board of Directors, including: - General Director Head of Real Estate Exchange System - Permanent Deputy General Director Head of Sales - Deputy General Director Head of Finance – Legal Pratice - Deputy General Director of PropertyX 7|Page PropertyX has exchange, each exchange has Board of Exchange Directors (figure 2), including: - Director of Exchange - 02 Deputy Director Figure 2: Company structure (Source: Company website) Each small sales group will have from 07-15 sales and each sale manager will manage 30-35 sales Administration includes 03 administrators Figure show structure of each exchange Figure 3: Exchange structure (Source: Company website) PROBLEM CONTEXT 2.1 Industry context The result in Figure below based on the research on the evaluation of industry experts using financial factors point, business image from the mass media According to 8|Page Vietnam Report JSC, Vietnam real estate in 2018 has still grown but it can be accepted The overview of the real estate market in 2018 changes slightly better than that in 2017 was evaluated by nearly 50% of enterprises In 2019, one of the major and continuing challenges in the real estate market is that the authorities review land fund, the procedures and project legislation causing the supply and transaction to decline in large markets such as Hanoi, Ho Chi Minh City, Nha Trang, Da Nang, … are decreased in new supply while the provincial markets are vibrant with a series of projects, strongly attracting investors The number of newly launched projects is extremely small This challenge has forced developers to switch from traditional markets to find land fund in many localities to develop new projects Many areas where no one previously thought it would be a destination for real estate investors, but now the market is more active than before Therefore, real estate companies have to catch the market and improve to adapt with new environment Figure 4: Top Most Reputable Real Estate Agencies 2019 Source: Vietnam Report, Top 10 Reputable Real Estate Companies 2019, March 2019 2.2 Company context PropertyX has six exchanges at Ho Chi Minh City and three exchanges at other provinces This research focuses on difference on development between six exchanges at Ho Chi Minh City, they are: - Phu Nhuan Exchange established in 2008 at 163 Hoa Lan Street, Ward 2, Phu Nhuan District 9|Page Mr Hien: Phu Nhuan exchange focused to invest in marketing to launch new project more than build a better office for staffs Moreover, beside training process from company for every staff, each exchange will has other training course and teambuilding for staffs but Phu Nhuan rarely it Ms Linh: Do you think that is a serious problem our company has to solve? Mr Hien: Of course In 2017 and 2018, our company got the target but in 2019 we could not Phu Nhuan’s result has a bigger gap than before compare with Nguyen Chi Thanh the 1st exchange Ms Linh: What you thing about Phu Nhuan’s leadership? Mr Hien: Most of manager of Phu Nhuan have experience in real estate and work at Phu Nhuan at a long time After long time working with them, they show me that they have ability but not active so much They are usually quiet and rarely give opinion or new ideal to improve their exchange Ms Linh: In your opinion, what is the cause of ineffective workplace culture at Phu Nhuan? Mr Hien: It may come from reasons: Policies, leadership or employee engagement PropertyX has stable mission, vision, core value and general policies, but each exchange has private policies depend on many reasons such as: number of sales, time establishment, leadership, place (at HCM, other provinces…), exchange’s achievement… Phu Nhuan has established for nearly 12 years and it is hard to change many things specially policies So maybe some rigid policies will effect on workplace culture Each leadership of each exchange has different style Leadership of Phu Nhuan exchange is autocratic style Mr Quang- Director of Phu Nhuan Exchange embraces a strong, topdown leadership approach He made his own decision without asking or discuss with others He has led Phu Nhuan exchanges for than 11 years and Phu Nhuan is a stable step to help PropertyX develop until now so we could not deny the way to control his exchange But the way he manage his exchange did not change for a long time and now it is not suitable with new situation Ms Linh: How is about employee engagement? Mr Hien: As I mentioned already, Phu Nhuan have not much activity so we have to find out it is because employee engagement or not I usually receive email or message from other sales from other exchange to give opinion about company strategy or comment about their managers… But I rarely receive it from Phu Nhuan Maybe they are quite or they are satisfied with company The reality show that high turnover rate and lowest revenue, so I think they have problem but they did not share with us 44 | P a g e Ms Linh: So which one is the main cause of this situation? Mr Hien: Policies were made by human, so it can change I am strongly believed that the failure in workplace culture is manager’s mistake With autocratic style, all employee would not have chance to give their opinion Ms Linh: What kind of leadership style is appropriate to solve this cause? Mr Hien: In my opinion, in real estate field, a good leader and manager should learn how to evolve with the market Then they can encourage their team members to adapt to change while assuring growth With transformational leadership style, the leader is in charge of finding the areas where change is needed The leader has to inspire a vision to help to guide subordinates to the change and execute it Creativity is vital in the industry As the leader work with subordinates to create innovative ideas is a positive way to boost your company and finish tasks timely That is the way Nguyen Chi Thanh and Pham Viet Chanh leadership work too And you can see the result Ms Linh: So to solve this cause, how can you change the leadership style of Director of Phu Nhuan exchange? Mr Hien: Mr Quang has work for more than mine, it is hard to change him, the way he control the exchange could not change even I mentioned and ask for his changing So I think, to give Phu Nhuan the new opportunity, board of director of PropertyX has to discuss to find new Director for Phu Nhuan To reduce the risk when replace senior position, I think we should promote a deputy director from other exchange where get high sale target and have transformational leadership style It is hard and taking time to hire an external candidate for this position Moreover, I think we should give chance for potential person who dedicated for company for a long time, get high result stably, high management skill and suitable with company culture Ms Linh: Thanks for your sharing Appendix 2: Interview Transcript - Mr Quoc – Deputy Director of Phu Nhuan Exchange, has worked at Hung Thinh for years, 10 year experiences in real estate field Good morning Mr Quoc, Many thanks for taking your time to attend the interview today I am currently conducting a research in order to find out the problem that takes to the decrease in sales and increase in turnover rate of Phu Nhuan Exchange That’s the reason why I would like to talk with you to get more information about the company’s context The interview can take from 15-20 minutes I will take notes during the interview to avoid missing information Are you ready? 45 | P a g e Ms Linh: In human resources and revenue report this year, the turnover rate of Phu Nhuan exchange was highest and the actual revenue is lowest? Can you tell me the reason why? Mr Quốc: High turnover rate is one of the reason make Phu Nhuan could not reach the sales target But in other aspect, sales target is one of the reason make employee feel pressure and quit job First, workplace culture is poor Second is pressure sale target Third is ineffective leadership make decrease faith of employee Ms Linh: Can you explain more? Mr Quoc: As you can see, about workplace, other exchanges usually repair or décor Phu Nhuan rarely has teambuilding trip or training course for employee It makes employee lack of communication or share information together so our team spirit is weak The fund of exchange use so much for marketing but it was not effective Those things made employee performance is low Second is pressure about sales target, but all exchanges has the same target, so this is general problem Third, ineffective leadership made poor creates an inspiring, motivation and weak planning & organization Our staffs lost their faith to leadership gradually and quit Ms Linh: Which one is the main problem? Mr Quoc: In my opinion, that is workplace culture We need to change our mind to create a better place for our staffs Phu Nhuan has not any significant changes for a long time to adapt with new circumstance Ms Linh: Why did Phu Nhuan not solve this problem before? Mr Quoc: You can see, Phu Nhuan chase to get revenue target make we forget to look at ourselves We are study CEO class to upgrade our ability I hope that after we finish this course, Phu Nhuan manager’s team will have positive change to improve our exchange Ms Linh: In your opinon, which is the reason made ineffective workplace at Phu Nhuan? Mr Quoc: Actually, I think that the way leadership control the exchange made it We try to control everything to create pressure on our employees I am deputy of exchange but it have many things I could not decide, Mr Quang-Director of exchange made it, he is an autocratic leadership style It is hard to give personal ideal with him He controlled everything and decide exchange strategy by himself without discuss with others Ms Linh: So how can we solve this problem? Mr Quoc: This is difficult question Ms Linh: Thanks for your sharing 46 | P a g e Appendix 3: Interview Transcript - Ms Nhan - Director of Nguyen Chi Thanh Exchange, has worked at Hung Thinh for years, 11 year experiences in real estate field Good morning Ms Nhan, Many thanks for taking your time to attend the interview today I am currently conducting a research in order to find out the problem that takes to the difference in sales and turnover rate of PropertyX’s Exchanges That’s the reason why I would like to talk with you to get more information about the company’s context The interview can take from 15-20 minutes I will take notes during the interview to avoid missing information Are you ready? Ms Nhan: Go ahead Ms Linh: Nguyen Chi Thanh always gets the high result compare with other exchange What makes Nguyen Chi Thanh successful? Ms Nhan: As you know, exchange systems of PropertyX have the same product sources to sale, the same price and promotion policy, same support tools But each exchange will have a different way to deploy and get different results Director of each exchange have more than 10 years experiment in real estate but each person has different aspect and run their exchange different strategy With me, Hung Thinh give very good sources from products, affordable prices, finance, marketing tools… so all we need is to have team spirit so I always focus on develop build a good workplace culture where all staff can share anything from work to life together We need to help each other to get exchange’s target together Our staffs work eight or can be more eight hours a day so I hope that I can create a place my staffs feel happy and whatever they want, fair competition Ms Linh: That is wonderful Ms Nhàn: It sounds easy, right? But it is really difficult to make It takes a long time and my partner has to companion with me As you can see, the number of quit at Nguyen Chi Thanh is not high, I believe that keep employment engaged is one of the important thing make Nguyen Chi Thanh strong Ms Linh: I think it is the reason why Nguyen Chi Thanh always is the 1st exchange and turnover rate is lower than other exchange Ms Nhan: It depends on many other reasons but I think it is the most important thing Ms Linh: To have a positive workplace culture, what is the most important element? Ms Nhan:I think it depend mostly on leadership style The way I control and encourage the subordinates will help them develop their skill and create a good environment Ms Linh: What kind of leadership style are you? 47 | P a g e Ms Nhan: I think I am a transformation leadership style I uasually encourage, inspire and motivate employees without micromanaging I designed to give employees more room to be creative, look to the future and find new solutions to old problems I believe that employees on my track will also be prepared to become transformational leaders themselves through mentorship and training Ms Linh: Thanks for your sharing Appendix 4: Interview Transcript - Ms Thu Hien – Human Resources Manager of PropertyX, has worked at Hung Thinh for years, year experiences in human resources field Good morning Ms Hien, Many thanks for taking your time to attend the interview today I am currently conducting a research in order to find out the problem that takes to the difference in sales and turnover rate of PropertyX’s Exchanges That’s the reason why I would like to talk with you to get more information about the company’s context The interview can take from 15-20 minutes I will take notes during the interview to avoid missing information Are you ready? Ms Hien: Go ahead Ms Linh: In human resources report we can see that, Phu Nhuan had the highest rate? Can you tell anything about this situation? Ms Hien: In 2019, Leavers of Phu Nhuan increased both employee and manager positions I interviewed some person, most of them said that they want to change working environment They want to get new challenge at other company Some said that sale target make them feel so stressful, they could not get balance between life and work Not only employee who work at Phu Nhuan short-time but also for a long time Ms Linh: If the reason was about working environment, why employee and manager who work for a long time lay off? They had to be familiar with working environment, right? Ms Hien: It means that they want to change, time changes so many things change too but their working environment did not change to suitable with new competition environment Moreover, high turnover rate showed employment instabilities in Phu Nhuan and it make low employee morale Ms Linh: Do you think that is a serious problem? Ms Hien: Of course, as you can see Revenue report, Phu Nhuan could not get the target and had a big gap compare with Nguyen Chi Thanh So I think that ineffective employment is one of the reason make Phu Nhuan can get the target Ineffective job- 48 | P a g e seekers and monitoring candidates make Phu Nhan not have competent employees Other exchanges have lower turnover rate than Phu Nhuan Phu Nhuan took much time for hiring and cost more time and money to training new comer It is a weakness If we not have solution for this problem, Board of Director may replace or dissolve Phu Nhuan exchange soon Ms Linh: Thank you so much for your sharing Appendix 5: Interview Transcript - Mr Chi – Sale Manager of Nguyen Chi Thanh Exchange, has worked at Hung Thinh for years, year experiences in human resources field Good morning Chi, Many thanks for taking your time to attend the interview today I am currently conducting a research in order to find out the problem that takes to the difference in sales and turnover rate of PropertyX’s Exchanges That’s the reason why I would like to talk with you to get more information about the company’s context The interview can take from 15-20 minutes I will take notes during the interview to avoid missing information Are you ready? Mr Chi: Yes, of course Ms Linh: You have been working for Hung Thinh for than years, what make you satisfied and unsatisfied about your exchange? Mr Chi: Nguyen Chi Thanh builds a standard culture working which I could not find in other exchange at PropertyX It always has connection between salesman and leadership We encourage each other every time Board of Direction has clearly oriented to subordinates Nguyen Chi Thanh has friendly environment, we celebrate all the holiday, staff birthday… donate for difficult situation… I am happy because my subordinates can get their target each month They are confident and try to break their limit I little thing I have not be satisfied in Nguyen Chi Thanh is that I always feel that Nguyen Chi Thanh always makes I feel to be not satisfied with myself I need to try more to help my team break our limits and achieve new record Ms Linh: It sounds great How can you help your team get good result? Mr Chi: First, our leader ship team work together to find a suitable strategy for each project Second, we start training project for our team Third, we will have competition to encourage sales team Whenever our sales have any problems or have any new ideals, we 49 | P a g e sit down and share together I believe that a strong leadership team and solidarity spirit make our success Ms Linh: Thank you for your sharing Appendix 6: Interview Transcript - Mr Hiep – Sale Manager of Nguyen Chi Thanh Exchange, has worked at Hung Thinh for years, before he worked at Nguyen Chi Thanh, he has worked at Phu Nhuan for more than year Good morning Hiep, Many thanks for taking your time to attend the interview today I am currently conducting a research in order to find out the problem that takes to the difference in sales and turnover rate of PropertyX’s Exchanges That’s the reason why I would like to talk with you to get more information about the company’s context The interview can take from 15-20 minutes I will take notes during the interview to avoid missing information Are you ready? Mr Hiep: Yes, go ahead You are welcome Ms Linh: How long have you worked at Nguyen Chi Thanh? Mr Hiep: More than months Firstly, I have worked at Phu Nhuan for than years before I move to Nguyen Chi Thanh Ms Linh: Now, how you feel when you are working at Nguyen Chi Thanh? Mr Hiep: I feel that Working at Nguyen Chi Thanh is very good Here, I have fair working environment and any everybody has motivation to earn money We like a family and be united Ms Linh: I’m very happy to hear that Can you tell me some different between working at Nguyen Chi Thanh and Phu Nhuan exchange? Ms Hiệp: As my point, even though I work in Nguyen Chi Thanh or Phu Nhuan, I always try my best to complete my tasks, because I have my own target and will delicate to the company It has a big different between two exchange that is employee in Nguyen Chi Thanh are more honestly and helping each other than Phu Nhuan In Phu Nhuan, they active in group and not contact with other group Ms Linh: I understand you point Anything else? Ms Hiệp: In Nguyen Chi Thanh, I have direction from Board of Directors of Exchange Each project, all employee was trained carefully Ms Nhan’s presentation is very attractive Here, we can ask for help every time I need We have training at project place Work environment make I feel more competitive, I have motivate to work hard Ms Linh: So what is the biggest reason make you left Phu Nhuan to Nguyen Chi Thanh? 50 | P a g e Ms Hiệp: Actually, I decide to demit Because I want to find a new place to work, I work at Phu Nhuan for than years and at that time I run out of motivation And I believe that I still have predestined with Hung Thinh, I heard that other exchange have different working environment so I want to try again Hung Thinh is a good company and has many new projects so I still want to work here Ms Linh: After month working at Nguyen Chi Thanh, what you get? Ms Hiệp: Because of short time, it has not much different But my revenue is increase and importantly, I feel more confident to complete my tasks Ms Linh: If you can change one thing in Phu Nhuan, what would you like to change? Ms Hiệp: Oh, now I not have any idea for this question I will think carefully and talk to you later,ok? Ms Linh: Oh Thank you so much for your sharing Appendix 7: Interview Transcript - Mr Tuan – Sale Manager of Phu Nhuan Exchange, has worked at Hung Thinh for years and quit month ago Hello Mr Tuan, Many thanks for taking your time to attend the interview today I am currently conducting a research in order to find out the problem that takes to the decrease in sales and increase in turnover rate of Phu Nhuan Exchange That’s the reason why I would like to talk with you to get more information about the company’s context The interview can take from 10-15 minutes I will take notes during the interview to avoid missing information Are you ready? Mr Tuan: Let’s start Ms Linh: Please introduce about yourself Mr Tuan: I was a sale Manager of Phu Nhuan Exchange, had worked at Hung Thinh for years and quit month ago Now I am working for a new company related to real estate too Ms Linh: Why did you decide to leave PropertyX after years working here? Mr Tuan: I feel that I need to change my working environment I need something news to encourage myself At Phu Nhuan, I did not have motivation anymore Many times, the tasks given had not even been given enough information That made me lost confident and faith in company Ms Linh: So, what kind of working environment you looking for? Mr Tuan: I need positive working environment where we can work, share knowledge, develop together Moreover, I hope that we have change to give our opinion 51 | P a g e Ms Linh: I see How about your new job? Mr Tuan: I am happy now I satisfied with my new job and feel motivation every day I work After months, my result increase more than before and my colleagues are very nice We already have training – team building trip days last month so I feel very confident and work hard Ms Linh: Thank you for your sharing Appendix 8: Interview Transcript – Ms Hong – Salesman of Phu Nhuan Exchange, has worked at Hung Thinh for year Hello Ms Hong, Many thanks for taking your time to attend the interview today I am currently conducting a research in order to find out the problem that takes to the decrease in sales and increase in turnover rate of Phu Nhuan Exchange That’s the reason why I would like to talk with you to get more information about the company’s context The interview can take from 10-15 minutes I will take notes during the interview to avoid missing information Are you ready? Ms Hong: You welcome Ms Linh: How you feel about Phu Nhuan workplace culture? Ms Hong: I have work at Phu Nhuan for nearly one year I feel that everyone is very kind but some are quite and my exchange not have any activities like other exchanges except company activities Lack of training made I feel that I not have enough information and skill as well as other exchange’s employee So it makes me feel little sad Moreover, some policies of my exchange are strict so it makes me feel always stressful Ms Linh: Can you explain more? Ms Hong: For example, we have to present at company at eight o’clock to checking and if I have an appointment with customer, I have turn on GPS and take picture and send it to administrator And in a day, I have to call 10-20 customers, deliver poster 1-2 hours and post 20-30 real estate advertisement on website In the end of day, we have check in again and report As you know, we are sale, if company controls us so strictly, maybe we can have a positive energy to complete our sale target Ms Linh: I see Anything else make you feel stressful about Phu Nhuan policies? Ms Hong: As you know, salary of salesman is not high, our income come from sale commission So if we have not any successful deals, we have no money to run advertisement or anything else But in Phu Nhuan, the fun of advertisement deliver base on sale result of last month So if this month I not sale any things, I could not receive 52 | P a g e this fund This policy is fair but it makes feel stressful and have no solution to solve this situation And we have many policies, when our exchange could not get the target, our director manager will have new policies to push and control us more strictly Ms Linh: I got your point So how can you get over it? Ms Hong: I am 24 year-olds and I not have so much experience So I think that I have to handle my feeling and try my best to work Ms Linh: I see Do you have any idea to change your exchange? Ms Hong: No one ask me this question before I hope that workplace culture is more active, more open and our exchange can change some policies to have positive effect on employees Ms Linh: How about your managers? Ms Hong: More than years working here, I feel that Phu Nhuan have autocratic leadership style Employees have to follow the decisions of director We not have right to share our opinion about exchange’s strategy or even any activities to develop team performance Director decided every Phu Nhuan policies, strategy… Ms Linh: Thanks for your sharing Appendix 9: Interview Transcript – Mr Binh – Salesman of Phu Nhuan Exchange, has worked at Hung Thinh for months Hello Mr Binh, Many thanks for taking your time to attend the interview today I am currently conducting a research in order to find out the problem that takes to the decrease in sales and increase in turnover rate of Phu Nhuan Exchange That’s the reason why I would like to talk with you to get more information about the company’s context The interview can take from 10-15 minutes I will take notes during the interview to avoid missing information Are you ready? Mr Binh: Let’s start Ms Linh: How you feel about Phu Nhuan workplace culture? Mr Binh: I have just worked here for months so it is difficult to comment exactly I think it is not bad but compare with old company, Phu Nhuan has a ineffective workplace culture Workplace climate is a little stressful, poor communication between employees or employees and management As you know, I have year experience in sale and years sale real estate, I work for companies already but this is the first time I feel uncomfortable about workplace atmosphere than sale target I think in sale, we need more open and comfortable environment I have loyalty customer from my former 53 | P a g e company so sale target is not my problem but new comer will have to face with many difficulties Ms Linh: How about company policies? Mr Binh: In the first day, I have trained about company culture and policies Company has clearly vision and mission And in the second day, I have trained about Phu Nhuan policies And it has many things I have to and not to Ms Linh: Is it has any difficult following the policies? Mr Binh: I feel that it has some are not suitable For example, strictly attendance policies, we have to check in on time every day About compensation and benefits policies, beside the company policies, Phu Nhuan does not have attractive benefits to encourage competition between groups Ms Linh: I see How about Phu Nhuan leadership? 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