Solutions for decreasing personnel fluctuation the case of OCB cho lon branch

UNIVERSITY OF ECONOMICS HO CHI MINH CITY International School of Business - NGUYEN THANH TUAN SOLUTIONS FOR DECREASING PERSONNEL FLUCTUATION: THE CASE OF OCB CHO LON BRANCH MASTER OF BUSINESS ADMINISTRATION SUPERVISOR: Ph D LY THI MINH CHAU Ho Chi Minh City, year 2020 TABLE OF CONTENTS Executive Summary 02 PROBLEM IDENTIFICATION: - 03 1.1 Company background: - 03 1.2 Problem context: - 06 1.2.1 Symptoms: 06 1.2.2 Symptom Validation and Justification: 07 1.3 Potential Problems: - 10 1.3.1 Diagram of Symptoms and Potential Problems: - 12 1.3.2 Problem Validation: 13 1.3.3 Problem Justification: - 17 CAUSE VALIDATION: - 20 2.1 Potential Causes: 20 2.2 Causes Validation - 22 2.3 Causes Justification - 25 SOLUTIONS: 25 3.1 Objectives - 25 3.2 Potential Solutions 26 3.3 Evaluation of Solutions - 28 3.4 Solutions Justification - 31 ACTION PLAN IN ORGANIZATION - 32 4.1 Contents - 32 4.2 Implementation Timeline 33 CONCLUSION 34 SUPPORTING INFORMATION - 35 APPENDIX - 36 REFERENCES - 48 Executive summary Banking is considered as one of the most intense competitive jobs in Vietnam and on the world The thesis is going to explicit what has been happening in the bank, particularly in the sales department in the OCB Cho Lon branch Actually, according to Churchill et al (1) salesmen’s role is of central importance to the company and major impact on the success or failure of organizations Thus, salespeople are those who determine revenue-producing efforts of corporations However, sales job is such a kind of job not easy to work these days Salesmen have to face with a lot of obstacles in their job including target pressure, workload and customer – cares These things easily make salesmen get burnout and leading to high level of leaving intention By conducting examination in the OBC Cho Lon branch with sales department, many troubles are found out such as job stress, work-life imbalance, job dissatisfaction and even coworker conflicts With these problems, the finding is investigated through in-depth interviews and real key issues are identified meticulously then After discovering the source of the root cause – work overload that affects the job stress in the bank, alternative solutions are designed and justified to abolish this hindrance with benefits bringing to the company and estimating how much the firm needs to be suffered Then, the implementation steps of action plan are also described in details to demonstrate effectiveness of the solution – job redesign that provides salesmen a job satisfaction PROBLEMS IDENTIFICATION: 1.1 Company background: Ocean Commercial Bank (OCB) was established on June 10, 1996; the corporation has nearly 200 trading units in 120 transaction points in all major cities and economic zones in the country OCB has affirmed its leading position with more than 5,000 staffs with high level of expertise, modern technology foundation and well-loved brands Over the years, OCB has experienced double the average growth rate of the industry The bad debt ratio has always been controlled at a low level, ensuring high and stable operating ratios OCB, the first Vietnamese bank, has completed a risk management project under Basel II (2017); that was rated by Moody's (one of the three most prestigious credit rating agencies in the world) and ranked B2 - the highest level of commercial banks in Vietnam; and OCB is the first bank in Vietnam having integrated channel, with the Omni Channel (2018) OCB always maintains to be among top banks in Vietnam and become a global prestigious bank in the near future Slogan "Belief and Prosperity" affirms that OCB brings value, prosperity to customers, partners, and shareholders; this will create a firm belief and support from customers, partners and shareholders for the Bank's operations Vision: Become a Leader of multi-functional bank in retail banking and small and medium enterprises in Vietnam Mission: Create the optimal solutions to bring the highest value to customers and investors, actively contributing to the common development of the community and society by building enthusiasm labor forced, understand the customer needs OCB Cho Lon branch Established in June of 2006 with only one transaction office and some employees At the moment, Cho Lon OCB branch has operated with four transaction offices and over 80 employees The personnel are divided in four departments including transaction department with 50 employees, sales department containing 24 salespersons, and legal department accounting for members and person with a role of cashier The OCB Cho Lon known as one of three branches having highest target and annual branch performance accounting for 8% of the corporation The key function of the OCB Cho Lon branch offers loan and capital mobilization that are also the same functions as other branches in the company and other of competitive banks The organization chart of OCB branch and the numbers of employees are showed up in the Figure as below (Sources from OCB Cho Lon branch) Figure 1: OCB Cho Lon branch organization chart With right business strategies, OCB Cho Lon in the previous two years successfully achieved the target of the year performance in such a way of over-expectation However, the fiscal year 2019 of the OCB Cho Lon branch was ended without good index of performance result Because of no target achievement of the year, this directly contributed to the whole organization in term of revenue decrease The financial statement of the year 2019 is to be analyzed in the Figure as below for demonstration Financial Statement (vnd bil) 2310 2500 2072 2000 2032,8 1850 1820,4 1464 1480 1500 1500 1305 1200 1132,8 960 1000 500 Target Achievement Target Fiscal year 2017 Achievement Fiscal year 2018 Loan Target Achievement Fiscal year 2019 Capital mobilization Source: Human Resource Department of OCB Cho Lon Figure Turnover rate in Sales Department of OCB Cho Lon From the financial statement above, it is easy to recognize that OCB Cho Lon, in the fiscal year 2017 regarding to loan segment, gained 123% over far from the target, and obtained 118% for the capital mobilization factor In the fiscal year 2018, the branch also achieved 112% over target toward to the loan section and acquired 118% for the capital mobilization element This is considered as an amazing result for the company in general and for the OCB Cho Lon branch in particular In the contrast, the fiscal year 2019 was considered as “noticeable year” to be analyzed to explore the reason why OCB could not achieve the expectations and target as expected The year performance just attained 88% regarding to loan criteria and only 87% for capital mobilization By further observation, the result in the fiscal year 2019 was even a little bit lower than the year 2018 Through analyses, the fiscal year 2019 of OCB Cho Lon negatively affected the business performance of the whole company Furthermore, going through the personnel – especially in the sales department - in the OCB Cho Lon, the voluntary turnover rate is notified with people left the company compared to in the previous year at the percentage double higher Therefore, this is also a point that needs to be concerned in the research From the literature reviews, according to Ampomah and Cubjor (2), the company may be negatively affected on providing services to customer when losing talent or key employees who have a profound impact on organizations Similarly, Aguinis (3) postulated that if a key performer leaves the company, it likely happens in such a way that a replacement for this position never obtains the same level Take a look at reality happening in the OCB Cho Lon branch, the deputy branch director shared: “High turnover rate has recently influenced to branch performance Take a sales team for example, eight salesmen left the company, especially including an elite employee; and as the consequence the team has been staying in the bottom position in results between sales teams in the branch Seldom did this happen in some previous years when the team had this person’s service; and he frequency presented in the top 10 bestsellers of the year in the corporation.” In general, employees titled talent are long-term assets of firms, and this was confirmed by Martin and Schmidt (4) Michael et al (5) published employees are assets of companies, so turnover is a high cost for companies in both tangible and intangible features and affecting to organization’s performance Additionally, Shaw et al (6) advocated, high turnover rate negatively effects workforce performance in term of low profitability levels and harmfully influences financial performance in term of hiring and training costs Thus, there were many findings mentioned in this section, and Solomon as cited by Sturman et al (7) established costs that organizations have to be suffered are calculated from 1.5 to 2.5 times of annual salary of laborer Overall, this can affect organizations’ performance and lead the company to another way if these talent people left the company and worked for competitors in the same industry Therefore, high voluntary turnover rate could be a symptom that needs to be validated, and then the problems need to be identified Analyzing and diagnosing the problems is essential to be taken place to discover potential causes Once root cause is identified, the thesis will provide the solutions and implementation plans to improve the company situation 1.2 Problems context: 1.2.1 Symptoms: The finding is conducted with three groups: Group one consisting of deputy branch director, sales manager and salesmen who are still working for the OCB Cho Lon branch, the second group with salesmen who left the Cho Lon branch already, and the last group including three sales managers in HCM, Ben Thanh and Phu Nhuan branch Based on the data from Human Resource Department of OCB Cho Lon provided by the deputy branch director, the voluntary turnover rate of salesmen in the fiscal year 2019 is higher than two previous fiscal years To clearly demonstrate about this, the table as below shows the result of turnover rate of the OCB Cho Lon branch Turnover Rate in Sales Department Average Number of Sales Managers Quit Turnover Rate Average Number of Salesmen Quit Turnover Rate Fiscal year 2017 Fiscal year 2018 Fiscal year 2019 Fiscal year 2020 3 3 0 0% 0% 0% 14 18 21 24 14.3% 22.2% 38.1% Source: Human Resource Department of OCB Cho Lon Table Turnover rate in Sales Department of OCB Cho Lon 2019 From the table above, it showed that the turnover rate of Salesmen in the fiscal year (FY) 2019 at 38.1 percent, which significantly higher than the FY 2018 and far over double higher than FY 2017 This means that the voluntary turnover rate is straight upward and no signal of stopping In this case, the number of turn overate 38.1 percent seems to illuminate that working in the banking industry is not easy at all As the matter of the fact, banking is known as a difficult industry for employees to work in, and this can be more demonstrated through the post survey from seminar report of Talentnet-Mercer in October 2018 (8) (Table 2) - the voluntary turnover rate of Banking with 19.6 percent was in the top industries in Vietnam market Compared to turnover rate in Sales Department of OCB Cho Lon branch in the previous year 2018, the data reveals that turnover rate of salesmen in the FY18 is higher than the market’s as well Table Post Survey Seminar Report of Talentnet - Mercer shared to participants 1.2.2 Symptom Validation and Justification: To understand clearly about this, through the interview, deputy branch director in OCB Cho Lon shared: “Salesmen left the job because they could not achieve the target offered by the company that made these employees received unexpected incomes Furthermore, with the company’s policy, those who cannot achieve the target offered in three straight months will receive only 80 percent of basic salary This is also a key factor that laborers quit the job.” He added “In the year 2019, the salespeople quit the job higher than last one; therefore, the company had to recruit others to replace these positions The human resource department might not be good in selection of salesmen, and the evidences showed that the business operation of the branch in this year is so much lower than previous year.” Similarly, from the theoretical aspect, Carraher (9) indicated salary and benefits are important factors to attract and lure employees Additionally, Matz et al as cited by Schuck et al (10) asserted that salary is an important factor in understanding job satisfaction and the commitment of the company Therefore, uncompetitive salary and unattractive incentive policy which can be called incomes dissatisfaction is one of reasons for employees leaving the company As a consequence, unexpected income is one of the elements in the OCB Cho Lon branch leading to high level of turnover rate Besides income dissatisfaction, there are some factors collected through interviews that have been affecting to voluntary turnover rate in the branch Take an interview with existing salesman for demonstrating: “In some new first months I worked for the company, it seemed to finish tasks easily, but when I received the target from sales manager, it drove me crazy I usually went home late because I tried to finish the target of the day This is one of reasons why some of salesmen quit the job.” Besides situations occurring in the OCB bank, many findings have been conducting to illustrate this issue According to Frone et al (11), long work hours is an element that causes work-life conflict This obviously presents to the fact that employees want to leave the job and find another one to have much more time for their own family In general, high competition in the bank market requires salesmen have to maintain energy in seeking customers and bringing these clients to the company These directly take a lot of time of salespeople and additionally these employees have to take care from the beginning of loan or capital mobilization procedures such as checking eligible documents and liability capability to disbursement With the workload like that these people must spend extra time to finish these procedures after meeting customers in the day time Frequently working in night time leads to a consequence that employees cannot keep their work and personal life in balance Work overload and no time for family make salesmen burnout and stress; therefore, a prediction of voluntary turnover intention can be imagined in the near future Looking to further other branches in the OCB branch system, the data collected in the Table has demonstrated that OCB Cho Lon branch has maintained the highest turnoverrelated index through three straight years Turnover Rate in Sales Department Average Number of Salesmen Quit Turnover Rate of FY 17 Average Number of Salesmen Quit Turnover Rate of FY 18 Average Number of Salesmen Quit Turnover Rate of FY 19 HCM Branch Cho Lon Branch Ben Thanh Branch Phu Nhuan Branch 18 14 14 12 2 1 11.1% 14.3% 7.1% 8.3% 25 18 19 17 4 3 16.0% 22.2% 15.8% 17.6% 28 21 21 20 17.9% 23.8% 20.0% 38.1% Source: Human Resource Department of OCB Cho Lon Table Turnover rate in sales Department of OCB branches From the Table 3, it is easy to realize that turnover rate in these four branches is annually higher and higher Therefore, this must be a symptom that needs to go further to explore what have been happening in the OCB Corporation However, with time limited, the finding just focuses on the OCB Cho Lon because, taking a careful notice, there must be an issue to this branch with the numbers of employees left the company were double higher its previous year, and was always in the highest position of turnover rate in every single year of whole corporation Through interviews in these branches above, the turnover rate not only affected business performance but also contributed to reduce business efficiency of the corporation To illustrate about this, the sales manager in HCM branch stated: “I not remember exactly how the turnover rate was in previous years, but as far as I know is that there were employees who quit the company in 2019 and the level of turnover rate was higher and higher After doing analysis from board of directors, the branch business performance is a bit negatively influent comparing to previous years Fortunately, the branch finally finished the year 2019 with just enough to achieve the target.” Regarding to OCB Ben Thanh branch: “In two previous years, there were some cases of quitting the job from sales department This also contributed to make the business performance of the branch go in such a way of no expectation Particularly, the Ben Thanh branch could not gain the target offered by corporation” shared by Mrs L – sales manager Another information from Phu Nhuan branch revealed by Mr A: “The turnover rate in the branch has a tendency to increase The replacement of employees left the company is necessary but new comers needed a lot of time to adapt to new environment and requirement of the banking sector Therefore, if having many cases of replacement like this, it will negatively effects to the branch business performance Take a last year for example, the final result of the branch was just near to the target.” Take a glance at the data shown in the Table 3, although the number of salesmen was higher comparing to its previous year; Nevertheless, the number of employees quit the bank was also increased, and this eventually caused high voluntary turnover rate in every single branch Many researchers found that there is a relationship between turnover and costs, and high level of turnover rate is contributing to decrease the business outcomes Through the research of Tracey and Hinkin (12), the authors published involvement in recruitment, training, development is presenting to a direct cost that corporations have to be suffered In addition, Abbasi et al (13) indicated that beside involvement of visible costs of turnover such as costs of termination, advertising, recruitment, selection, hiring, training, and assigning, there are many hidden costs such as disruption of customer relations, the erosion of morale and stability of those who remain, the loss of valuable time which the new employees acquire their tasks understanding and unavoidable Therefore, this is a particular criteria for this position and salesmen must accept this Question 14: Do these salesmen in the team usually support each other or not? Answer: Members in the team often help each other However, I not know how other bank work, but in OCB Cho Lon, salespeople in three teams can contact a specific customer to attract customers to get a loan from the bank That can be called fighting over customer With this message, salesmen have to strive more and more to put a good impression and friendly image on customers If not, these customers can be taken from other salesperson Question 15: As far as I know, OCB is one of banks has a high turnover rate What you think about this? Answer: With the new strategy I knew, the OCB Corporation just wants to retain and keeps the talent people This required salesmen have to work one hundred per cent of their abilities to survive in this recently intense competition of bank industry in Vietnam This was also one of the key factors why the company fired nearly one thousand employees in this year Question 16: Do you have any plan to increase the current situation in your sales department? If so, what are they? Answer: Daily report has been making salesmen to get burnout Understanding this problem, the branch is going to create a new report method – using a software, reform the current report or another new positions to support sales department Question 17: How often you have a meeting with sales people? Answer: At the moment, the branch just has weekly meeting with sales managers to analyze incidents occurring in the week and guide these managers how to manage them In the near future, the meeting will be conducted with salesmen as well Interviewee: Sales manager of OCB Cho Lon branch Question 1: Knowing that there was a fluctuation of personnel in the sales teams, some of new salesmen were recruited and, unfortunately, the Cho Lon branch could not achieve the target of the year What you think about this? Answer: Salespeople recently cannot meet requirement of the job, especially new comers, they take a lot of time to customize with the job Some of these people came from other banks; 39 unluckily, they familiarly experienced in the different market segments or customer segments That is a main reason why they cannot survive in the OCB bank Question 2: The Cho Lon branch had this fluctuation in the year 2019, so was there anything wrong between these salesmen – the experienced and the new ones - in the branch? Answer: Regarding to salespeople working in the team, they also support and meet customers together in order to mutually study each other Besides, there is an issue existing in the salesmen between different teams; they can steal customer each other when having a chance This could be a reason of high pressure for the target they have to complete; therefore this is such a kind of pain in the neck of our branch Question 3: To whom is the stealing customer happened? (Experienced salesmen or new comers) Answer: this is a kind of thing occurring in a long time, and this is allowed to in the branch because salesmen have to keep their customers’ information Furthermore, salesmen also endeavor to bring customers to the company as soon as possible in order to avoid customers being stolen by other competitors Question 4: Have you ever been as a conciliator regarding to customer stolen by salesmen? Answer: There is a monthly meeting of sales department and, in the meeting, salespeople are able to raise their difficulty facing in the month After that, board of directors will discuss together and offer a best solution in every single situation Question 5: What you think about these new salesmen? For example: what advantages and disadvantages they have Answer: Some of new comers are good at dealing with customers-related problems but their customer segmentation is different from the company Therefore, these people have to need more time to build up their network and relationship Besides that regarding to fresher – students have just graduated – they have a passion and full of energy In order to help them finish the work well, they need to be trained and have support from managers In the OCB Cho Lon branch, there has been one training for every quarter 40 Question 6: Knowing that your company just pay for employees – especially salesmen – 80 percent of basic salary if these staffs cannot reach the target in straight three months How you think about this? Answer: I think the company is on the way to well in the term of paying-for-performance for salesmen I know this is challenging them so much but the incentive and commission are much higher if they complete the target So, if you want to improve your life, just your best and in such an intelligent way Question 7: Salesmen just receive 80 percent of basic salary if they cannot reach the target What you think about the target offered to salesmen? Answer: With the development and prosperity of the company, the target is higher and higher year after year so that salesmen have to work so hard in order to complete their tasks from every single day That is a reason why some of salesmen getting married with children cannot keep their own life in balance; they need more time to take care their family that is a sharing from one of left persons Question 8: In banking industry, there are a lot of competitors in the market Do you have any ideas of the target offering to salesmen is higher and higher? Answer: With the intense competition in this market, individual salesperson has to try their best by using their abilities and what they experienced to fight against other competitors in order to gain target and expectation from board of directors They have to that if they want to survive in this field Therefore, it is inevitable that there is a conflict between salesmen when trying to fight over customers Question 9: Does the branch have any plan to enhance the existing situation in the sales teams? If so, what are they? Answer: As far as I know, in the up-coming plan, the company is considering of the centralized training for salesmen In this training, the new comers can earn experiences from co-workers’ sharing and mutually study together Interviewee: An existing salesman of OCB Cho Lon branch Question 1: How long have been working in the OCB Cho Lon branch? Answer: I have been working about 1.5 years in the company 41 Question 2: How you feel about the job you are working? Answer: In some new first months I worked for the company, it seemed to finish tasks easily, but when I received the target from sales manager, it drove me crazy I usually went home late because I tried to finish the target of the day This is also one of reasons why some of salesmen quit the job Question 3: What are salesmen in charge of? Answer: The first thing is that salesmen need to take care current customers such as reminding them of debt on-time payment and overdue debts The second one is seeking new customers Next, checking customers’ documentation whether it is eligible or not The last one – report to sales manager and set an action plan for the next day Question 4: How often you go home late? And how about other salesmen? Answer: The phrase - go home late - is considered as a “specialty” in the company because it is not strange with sales people in general and especially salesmen working in bank industry Most of us just have time for family in weekends Question 5: I used to think that working in the bank industry is a dream of people but not now any more Could you mind to share some more information about your job? Answer: High competition in the bank market that makes salesmen like me sacrifice a lot of things such as no time for personal issues and have to try best to achieve target Some of my colleagues left the company because, in the branch, there have been conflicts between employees together in term of fight-over-customers Thus, to be presented in high competitive industry, salesmen have to bring as many contracts to the company as they can in any circumstances Question 6: With many difficulties I can see salesmen here are facing to Do you think these salesmen who are successful in their tasks at the present are still working for the company in or years later? Answer: Not really, everybody always want to improve their career When collecting enough experiences, some of employees want to find challenges in higher position with another workplace Take a salesman in the team for example He is named with a talent salesman here but, eventually, he is working for another bank with higher position – manager 42 Question 7: I know that there are sales teams in the branch, you usually help other salesmen in your team and vice versa? Answer: Although working as a team but there are multi-tasks need to be done per day, I have to deal with all of them by myself It is difficult to have a help from another one because salespeople have a bunch of work and they also need to obtain the target; therefore, we have no time for supporting others If I have time, I will help them especially toward to new comers Question 8: Knowing that, it is more and more difficult to find customer As you mentioned the term of fighting-over-customers How you think about this? Answer: “Fighting over customers is not strange to salespeople Once information of customers is revealed, anyone of salesmen can contact to these customers as long as these ones are not captured by other competitors.” Question 9: With many difficulties in the job, have you ever been stress in your job? Answer: Absolutely! Everything needs to be aware here You know, the strain from work made me crazy and easily lost control in dealing with problems I usually finish the work until pm and then feel very tired in the following day Moreover, the work environment here is actually not for normal salespeople because they have to protect themselves from external and internal competition The co-workers here are also my competitors as well Question 10: You usually go home late How about your family? Do they understand that this is a specific job you are working? Answer: I have not got married yet, but it will be significantly concerned when I get married Regarding to salesmen who got married and have children, some of them left out of the bank area and worked for other industries Question 11: Can you share me what you usually when having a lot of works waiting to be solved or stresses you are facing to in your jobs? Answer: When having a lot of things in the work waiting to be finished, I just want to sit back and nothing However, I still have to meet customers if having a schedule because as a professional salesman, it is extremely important to keep the promise As you know, the result would be usually not good when seeing customers with a bad mood Question 12: What you want the company for sales team, especially for yourself? 43 Answer: With the workload that we are in charge of is so much and, if it can, the company should reduce the tasks in order to let salesmen work effectively Question 13: Do you think it is necessary to have another department to support for sales team? Answer: Do not need one department If having another person for reminding customers who have overdue debt or upcoming deadline debt of payment to the bank, this can help salesmen reduce workload and save time to seek new customers Question 14: What you think if the company provides salesmen training programs to improve sales skills? Answer: This is fantastic if the company that In my opinion, training needs displaying often so that salesmen have opportunities to earn knowledge or tactics from experts for hard skills and soft skills that helps salesmen cope with the incidents II Group 2: (Interviewee who left the OCB Cho Lon branch already) Interviewee: A left salesman who used to work for OCB Cho Lon branch Question 1: How long did you work for the OCB Cho Lon branch? Answer: I worked for the OCB Cho Lon branch about year Question 2: How long did you quit the job in the OCB? Answer: It was about months ago Question 3: Do you think the OCB is a good place to work with good compensation for employees? Answer: If it was a good place, I could not quit the job It is just good when you achieve the target but it is not easy at all In case salesmen could not reach the target, the received salary would be cut down and salesmen like me just want to find another place to work for rather than spending a lot of time for this company with the career insecurity Question 4: What think about the company’s policy related to cut-down-salary? Answer: Everybody earns money to take care their family’s life and spending money on personal cares for themselves However, with the policy of the company, the salary will be low 44 down and even be terminated labor contract if you could not meet company requirement, and this criteria is just shown up on the single personal result I used to raise idea in the meeting that the company should take a look back of the policy related to pay for performance because nobody not want complete the target If not, the target should reasonable to achieve Question 5: How you think about the target offering to salesmen? Answer: Annually, the target offered by sales manager is more and more, salespeople like me have to chase the target unceasing to meet clients in or even out of working time, and after coming back to the office, we continue with our paper work such as daily report and checking whether clients’ documents is eligible or not Honestly, we are usually finishing the day quite late rather than others working in the office only Question 6: Could you shared some information of the job you worked in the OCB Cho Lon branch? Answer: It is also the same function with other banks and salesmen’s mission is to bring customers to the company as many as possible The time I worked for OCB seemed from nine to ten hours per day In the day time, after seeing customers to introduce and sell of OCB products, I had to a check whether these customers meet our requirement related to financial security and eligible status or not Furthermore, the setting actions plan and updating report through online system daily made me burnout The thing also needs mentioning here is that I have no time for family and even for my leisure In general, it is a place to train your stamina Question 7: Do you usually help other salesmen in your team, especially new comers? Answer: Sometime I think these new comers are also good salespersons as well However, everybody needs time to adapt to new environment working and culture in new workplaces The adaptability depends on employees’ characteristics and knowledge they experienced Actually, to be a salesman in the OCB bank, these candidates had to spend some recruitment rounds from the banking – associated tests to soft skills - dealing with incidents with customers Question 8: Can you share me what is the reason why you left the OCB? 45 Answer: I realized that there were many things I dissatisfied such as the salary-cut-down, high target and especially poor cooperation between salespeople They always want to get as much customer as they can so that these people easily ignore others when they need helps Laborers almost work for two main reasons: one for earning money and the other for passion To me, both of them need balancing because nobody can work in a long time without passion and unexpected salary Therefore, the company’s policy related to salary is one of reason I left the company With the company’s policy, salesmen just receive the basic salary corresponding to the quota offered from managers III Group 3: (Interviewees who are working in other branches of OCB company) Interviewee: Sales manager of OCB HCM branch Question 1: Knowing that you are a sales manager in the OCB HCM branch, can you share to me how the turnover rate in your branch in the past three years? Answer: I not remember exactly how the turnover rate was in previous years, but as far as I know is that there were employees who quit the company in 2019 and the level of turnover rate was higher and higher Question 2: Can you share to me how about your business performance in the year 2019? Answer: With the 5-employee-left-the-company, after doing analysis from board of directors, the branch business performance is a bit negatively influent comparing to previous years Fortunately, the branch finally finished the year 2019 with just enough to achieve the target Interviewee: Sales manager of OCB Ben Thanh branch Question: Knowing that you are a sales manager in the OCB HCM branch, can you share to me how the turnover rate in your branch in the past three years? Answer: In two previous years, there were some cases of quitting the job from sales department This also contributed to make the business performance of the branch go in such a way of no expectation Particularly, the Ben Thanh branch could not gain the target offered by corporation Interviewee: Sales manager of OCB Phu Nhuan branch Question: Knowing that you are a sales manager in the OCB HCM branch, can you share to me how the turnover rate in your branch in the past three years? 46 Answer: The turnover rate in the branch is trending to increase The replacement of employees left the company is necessary but new comers needed a lot of time to adapt to new environment and requirement of the banking sector Therefore, if having many cases of replacement like this, it will negatively effects to the branch business performance Take a last year for example, the final result of the branch was just near to the target 47 REFERENCES (1) Churchill,Gilbert A.,,Jr, Ford NM, Walker,Orville C.,,Jr Measuring the job satisfaction of industrial salesmen JMR, Journal of Marketing Research (pre-1986) 1974 08;11(000003):254 (2) Ampomah P, Cudjor SK The effect of employee turnover on organizations (case study of electricity company of Ghana, Cape Coast) Asian journal of Social Sciences and Management studies 2015;2(1):21-4 (3) Aguinis H, Gottfredson RK, Joo H Using performance management to win the talent war Business Horizons 2012;55(6):609-16 (4) Martin J, Schmidt C How to keep your top talent Harvard business review 2010;88(5):54-61 (5) Michael C.G Davidson, Timo N, Wang Y How much does labour turnover cost?: A case study of Australian four- and five-star hotels International Journal of Contemporary Hospitality Management 2010;22(4):451-466 (6) Shaw JD, Gupta N, Delery JE Alternative conceptualizations of the relationship between voluntary turnover and organizational performance Academy of management journal 2005;48(1):50-68 (7) Sturman MC, Trevor CO, Boudreau JW, Gerhart B Is It Worth It to Win The Talent War? 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Answer: I worked for the OCB Cho Lon branch about year Question 2: How long did you quit the job in the OCB? ... to the branch and the best solution will be cautiously chosen by the board of directors of the OCB Cho Lon branch 3.2 Potential Solutions Based on the practical situations in the OCB Cho Lon branch. .. are still working in the OCB Cho Lon branch) Interviewee: Deputy branch director of OCB Cho Lon branch Question 1: Knowing that OCB Cho Lon branch did not achieve a target of the year in 2019, what