Factors affecting job stress and job satisfaction, an empirical study of banking industry in ho chi minh city

UNIVERSITY OF ECONOMICS HO CHI MINH CITY International School of Business Truong Thi Chi Thanh FACTORS AFFECTING JOB STRESS AND JOB SATISFACTION: AN EMPIRICAL STUDY OF BANKING INDUSTRY IN HO CHI MINH CITY MASTER OF BUSINESS (Honors) Ho Chi Minh City – Year 2015 i UNIVERSITY OF ECONOMICS HO CHI MINH CITY International School of Business Truong Thi Chi Thanh FACTORS AFFECTING JOB STRESS AND JOB SATISFACTION: AN EMPIRICAL STUDY OF BANKING INDUSTRY IN HO CHI MINH CITY ID: 22130070 MASTER OF BUSINESS (Honors) SUPERVISOR: Dr Nguyen Thi Nguyet Que Ho Chi Minh City – Year 2015 ii Acknowledgement I wish to express my sincere gratitude deeply to my advisor, Dr Nguyen Thi Nguyet Que To have completed this thesis, beside my effort, her devoted tutorial has the important implication She always helps me to solve trouble, support carefully in order to finish my thesis in the best way I always respect and remember these things I would like to send my thanks sincerely for Prof Nguyen Dinh Tho and Dr Nguyen Thi Mai Trang because of their value feedbacks from my proposal to draft thesis It is a deficiency if I will not remember other teachers teaching me two years ago in ISB They gave me knowledge and understanding to have enough ability to perform my thesis and great foundation to improve my career This research was contributed significantly by my friends and my colleagues in the pilot study and main survey of this study They also help me when I have difficult in conducting this thesis I would like to send my deep thank to them I would like to thank my family I must express my gratitude to my farther and my mother for their significant moral support during the time when I have conducted this thesis Last of all, my sincere thanks are also sent to the staff of ISB supporting me to have the convenience in last time th Ho Chi Minh City, December 14 , 2015 Truong Thi Chi Thanh iii Abstract In the development of a country's economy, banking industry plays an important role; it is the circulatory system of the entire national economy Vietnam is a developing country in deep and broad integrating period Restructuring is the method to strength banking system, increase the ability to competitive highly and meet the integrating require combining with the development of country Therein, human resource management is complex work; the difficulty is interesting in carefully the harmony of job stress and job satisfaction Perceiving this issue, some previous researches in Vietnam mentioned about it However, they are limitations in the number of determinants affecting job stress and job satisfaction While in other developing and developed countries, new variables were explored and studied meticulously According to these basic things, this study aims to explore the effects of role conflict, workload, social support, and role ambiguity on job stress and job satisfaction Moreover, it also investigates the relationship between job stress and job satisfaction in banking industry in Ho Chi Minh City A sample of 250 fulltime bankers in first line in Ho Chi Minh City was surveyed through questionnaire with five-point Likert scale to test hypotheses Multiple regression analysis was suitable to analyze the data The results found that in Vietnamese banks, workload and role ambiguity had positive effects on job stress; social support had the negative effect on job stress They were significant relationships Besides that, this study concluded role conflict, role ambiguity, job stress impacted job satisfaction negatively and significantly There was a significant positive relationship between social support and job satisfaction Role ambiguity contributed the most influencing on explaining the determinants of job stress and social support had the most impact on job satisfaction However, this study did not find the significant relationships between role conflict and job stress, between workload and job satisfaction The achieved findings recommend essential consultants to improve job satisfaction and reduce job stress in developing human resource management of Vietnamese banks However, this research also could not avoid from some limitations, they are groundwork for further research iv Key words: role conflict, workload, social support, role ambiguity, job stress, job satisfaction v Table of Contents Acknowledgement iii Abstract iv Table of Contents vi Abbreviations ix List of Tables x List of Figures xi List of Appendices xii CHAPTER ONE: INTRODUCTION 1.1 Research background 1.2 Problem statement 1.3 Research objectives and research questions 1.3.1 Research objectives 1.3.2 Research questions 1.4 Research scope 1.5 Research significance 1.6Thesis structure CHAPTER TWO: LITERATURE REVIEW 2.1 Theoretical background 2.1.1 Job satisfaction 2.1.2 Job stress 10 2.1.3 Determinants of job satisfaction and job stress 12 2.1.4 Model of Sultan, Tarid, and Rali (2014) 12 2.1.5 Model of Lam (2014) 13 2.2 Development of hypotheses and conceptual model 15 2.2.1 Role conflict and its effect on job stress/job satisfaction 15 vi 2.2.2 Workload and its effect on job stress/job satisfaction 16 2.2.3 Social support and its effect on job stress/job satisfaction 17 2.2.4 Role ambiguity and its effect on job stress/job satisfaction 18 2.2.5 Job stress and job satisfaction 20 2.3 Research model 20 2.4 Chapter summary 21 CHAPTER THREE: RESEARCH METHODOLOGY 22 3.1 Research design 22 3.2 Development of questionnaire 23 3.2.1 Measurement scales 23 3.2.2 Draft questionnaire 26 3.3 Data collection method 27 3.3.1 Pilot study 27 3.3.2 Main survey 28 3.3.2.1 Sample size ……………………….28 3.3.2.2 Sampling method 29 3.4 Data analysis techniques 29 3.5 Chapter summary 31 CHAPTER FOUR: DATA ANALYSIS AND RESULTS 32 4.1 Descriptive analysis 32 4.1.1 Gender 34 4.1.2 Education 34 4.1.3 Age 34 4.1.4 Salary 35 4.2 Assessment and refinement of measurement scales 35 4.2.1 The reliability test 37 vii 4.2.2 EFA 37 4.3 Multiple regression 39 4.3.1 Model - Multiple Regression Analysis with all independent variables and job stress 39 4.3.2 Model - Multiple Regression Analysis with all independent variables and job satisfaction 42 4.4 Discussion of the results 45 4.5 Chapter summary 48 CHAPTER FIVE: CONCLUSIONS 49 5.1 Conclusions 49 5.2 Contribution of research 50 5.2.1 Theory contribution 50 5.2.2 Managerial implications 51 5.3 Limitations and further research 53 References 55 Appendices 67 viii Abbreviations ESCAP The United Nations Economic and Social Commission for Asia and the Pacific ACB Asia Commercial Joint Stock Bank Vietcombank Joint Stock Commercial Bank for Foreign Trade of Vietnam Sacombank Saigon Thuong Tin Commercial Joint Stock Bank BIDV Joint Stock Commercial Bank for Investment and Development of Vietnam Agribank Vietnam Bank for Agriculture and Rural Development SPSS Statistical Package for Social Science EFA Exploratory Factor Analysis KMO Kaiser-Meyer-Olkin ANOVA Analysis of Variance KPI Key performance indicator ix List of Tables Table 2.1 Herzberg’s theory 10 Table 3.1 Measurement scales 24 Table 3.2 Findings of qualitative research 28 Table 4.1 Distribution of respondents based on demographic characteristics 33 Table 4.2 Cronbach’s Alpha of factor 37 Table 4.3 KMO and Bartlett's Test 38 Table 4.4 Total Variance Explained 38 Table 4.5 Correlations 40 b Table 4.6 Model Summary 40 b Table 4.7 ANOVA 40 a Table 4.8 Coefficients 41 Table 4.9 Correlations .42 Table 4.10 Model Summary Table 4.11 ANOVA b .42 b .43 Table 4.12 Coefficients a 43 x 75 I am not sure of what is expected of me I am not clear of my responsibilities I not get proper guidance I am uncertain about how my job is connected to other jobs Job stress I am disappointed about my work I feel that things are out of my control at work I feel overwhelmed by my work I feel like giving up on my job I feel unable to get out from under my work I feel frustrated with my work Job satisfaction Overall, I feel I am satisfied with my job I am satisfied with the kind of work I on this job generally Part II Gender Education Male < Bachelor Bachelor Female > Bachelor Age < 30 30-39 40-49 Salary < 5.000.000 VND/month 5.000.000 VND/month – 15.000.000 VND/ month > 15.000.000 VND/month Thank you for your attention! >49 76 Appendix D: Findings of qualitative research Items modified Modification and Explanation Role conflict I have to buck a policy in order to carry out an assignment Modified to be “The performance of my duties cannot compliance the regulations of the company." Because according to the comments of five participants, the original sentences assert strongly that bucking a policy It may not be suitable with culture of Vietnamese (preference for cooperation, modesty, caring for the weak and quality of life, society at large is more consensus-oriented) It is femininity culture (Hofstede, 2001) So that, this item was changed in order to be more suitable and make Vietnamese participants easy to understand Social support I would like to more, socially, with the people on my unit Modified to be “I would like to more, socially, with the coworker on my unit” I avoid the people on my unit as much as Modified to be “I avoid the co-worker on my unit as much as possible possible” According to the opinions of eight interviewees; in the scale of “social support” variable, “people” (in “I would like to more, socially, with the people on my unit” item and “I avoid the people on my unit as much as possible” item) encompassed both co-worker and supervisor However, this scale also consisted of “I would like to more, socially, with the supervisor on my unit” item and “I avoid the supervisor on my unit as much as possible” item Therefore, “I would like to more, socially, with the people on my unit” changes to “I would like to more, socially, with the co-worker on my unit” and “I avoid the people on my unit as much as possible” changes to “I avoid the coworker on my unit as much as possible” 77 Appendix E: The final English questionnaire Dear sir/madam, I am a student of Master Program of University of Economics Ho Chi Minh City I am conducting my thesis researching the factors affecting job stress and job satisfaction of employees working in banking industry Please take you few value minutes to answer this questionnaire I commit that personal information will be kept confidentially in order not to affect your personal honorary In the following statements, please check cross (X) in the square being the most correct with your ideas Part I Strongly disagree Role conflict I not have adequate resources and materials to perform my duties There is a mismatch between my abilities and requirements of my job I have to things that should be done differently I receive incompatible requests from two or more people The performance of my duties cannot compliance the regulations of the company Workload I am given not enough time to what is expected of me on my job I often seems like I have too much work for one person to The performance standards on my job are too high Disagree Neutral Agree Strongly agree 78 Social support I feel comfortable with my co-workers, and can talk to them easily about personal matters I am a good friend with some of the people I work with I enjoy working with the people on this unit There are well-defined groups of friends on this work unit, and I have not had much success at becoming part of any of these groups I don’t feel I have much in common with others who work on this unit I am able to turn to my co-workers when I need help on the job I would like to more, socially, with the coworker on my unit I avoid the co-workers on my unit as much as possible I feel comfortable with my supervisor, and can talk to him/her easily about personal matters I enjoy working with the supervisor on this unit I am able to turn to my supervisor when I need help on the job I would like to more, socially, with the supervisor on my unit I avoid the supervisor on my unit as much as possible My supervisor praises me when I a good job Role ambiguity Goals and objectives are not clear for my job I am not sure of how much authority I have 79 I am not sure of what is expected of me I am not clear of my responsibilities I am not properly guided I am uncertain about how my job is linked to other jobs Job stress I am discouraged about my work I feel that things are out of my control at work I feel overwhelmed by my work I feel like giving up on my job I feel unable to get out from under my work I feel frustrated with my work Job satisfaction Overall, I feel I am satisfied with my job I am generally satisfied with the kind of work I on this job Part II Gender Education Male < Bachelor Bachelor Female > Bachelor Age < 30 30-39 40-49 Salary < 5.000.000 VND/month 5.000.000 VND/month – 15.000.000 VND/ month > 15.000.000 VND/month Thank you for your attention! >49 80 Appendix F: The final Vietnamese questionnaire Kính chào Anh/Chị, Tơi học viên Trường đại học kinh tế thành phố Hồ Chí Minh Tôi thực luận văn thạc sĩ nghiên cứu nhân tố tác động đến căng thẳng cơng việc hài lịng cơng việc nhân viên công tác lĩnh vực ngân hàng Rất mong Anh/Chị dành phút quý giá để trả lời Phiếu khảo sát Những đóng góp Anh/Chị yếu tố quan trọng định thành công nghiên cứu Tôi cam kết thông tin cung cấp bảo mật tuyệt đối để không ảnh hưởng đến danh dự cá nhân Anh/Chị Trong câu đây, Anh/Chị vui long đánh dấu chéo (x) vào ô với ý kiến Anh/Chị Phần I Hồn tồn khơng đồng ý Sự xung đột vai trị Tơi khơng có đầy đủ nguồn lực để thực nhiệm vụ Khả không thật phù hợp với yêu cầu công việc Tôi phải làm việc nên thực khác Tôi nhận yêu cầu khác từ hai hay nhiều người Việc thực nhiêm vụ không theo quy định công ty Lượng công việc Tôi không cho đủ thời gian trông đợi để làm công việc giao Tôi phải làm công việc sức cho người Khơng đồng ý Trung lập Đồng ý Hồntồn đồng ý 81 Các tiêu chuẩn đánh giá kết công việc thực cao Hỗ trợ xã hội Tôi cảm thấy thoải mái với đồng nghiệp tơi trị chuyện với họ dễ dàng vấn đề cá nhân Tôi người bạn tốt với người làm Tôi thích làm việc với người đơn vị Có nhóm bạn xác định rõ đơn vị tơi khơng thuộc nhóm Tơi khơng cảm thấy tơi có nhiều điểm chung với người làm đơn vị Tơi nhờ đồng nghiệp tôi cần giúp đỡ công việc Tơi thích làm nhiều ngồi cơng việc với mối quan hệ với đồng ngiệp đơn vị Tôi né tránh đồng nghiệp đơn vị nhiều tốt Tôi cảm thấy thoải mái với cấp tơi dễ dàng trò chuyện với họ vấn đề cá nhân Tơi thích làm việc với người cấp đơn vị Tơi nhờ cấp tôi cần hỗ trợ công việc Tôi thích làm nhiều ngồi cơng việc mối quan hệ với cấp đơn vị Tôi né tránh cấp đơn vị nhiều tốt Cấp khen gợi, đánh giá cao làm tốt công việc 82 Sự mơ hồ vai trị Mục đích mục tiêu công việc tôi.không rõ ràng Tôi không chắn mức độ quyền hành tơi Tơi khơng chắn điều trơng đợi tơi Tơi không rõ ràng trách nhiệm Tôi không hướng dẫn cách Tôi không chắn công việc liên quan với công việc khác Sự căng thẳng công việc Tôi thất vọng công việc Tôi cảm thấy khơng kiểm sốt cơng việc Tơi cảm thấy chống ngợp cơng việc Tơi thấy muốn từ bỏ công việc Tôi cảm thấy không khỏi cơng việc Tơi cảm thấy chán nản với cơng việc tơi Sự hài lịng cơng việc Tổng thể, tơi cảm thấy hài lịng với cơng việc Nhìn chung, tơi cảm thấy hài lịng với nhiệm vụ giao Phần II Giới tính Trình độ Nam Dưới đại học Đại học Nữ Trên đại học Tuổi < 30 30-39 40-49 Mức lương < 5.000.000 VND/tháng 5.000.000 VND/tháng – 15.000.000 VND/tháng > 15.000.000 VND/tháng Xin cảm ơn tham gia bạn! >49 83 Appendix G: Item – Total Statistics Item-Total Statistics of role conflict scale Corrected rc01 rc02 rc03 rc04 rc05 wl01 wl02 wl03 Squared Cronbach's Scale Mean if Scale Variance Item-Total Multiple Alpha if Item Item Deleted if Item Deleted Correlation Correlation Deleted 10.28 12.693 193 073 760 9.94 10.02 9.94 10.03 9.070 9.258 8.720 11.755 653 677 681 226 572 528 571 065 589 583 573 765 Item-Total Statistics of workload scale Corrected Squared Cronbach's Scale Mean if Scale Variance Item-Total Multiple Alpha if Item Item Deleted if Item Deleted Correlation Correlation Deleted 5.28 4.562 791 626 848 5.11 4.443 790 625 847 5.15 4.255 790 625 848 Item-Total Statistics of social support scale Scale Mean if Scale Variance Item Deleted if Item Deleted ss01 ss02 ss03 ss04 ss05 ss06 ss07 ss08 ss09 ss10 ss11 ss12 ss13 ss14 43.96 43.86 43.79 43.61 43.70 43.74 43.55 43.30 43.56 43.42 43.63 43.77 43.90 44.00 86.832 88.663 87.402 96.368 87.445 87.897 96.710 87.832 86.847 86.669 86.778 85.046 87.179 87.083 Corrected Item-Total Correlation 815 778 801 305 801 775 185 661 713 685 744 782 800 770 Squared Multiple Correlation Cronbach's Alpha if Item Deleted 719 660 728 208 738 646 114 506 622 578 593 670 691 662 923 925 924 937 924 924 944 928 926 927 925 924 923 924 84 Item-Total Statistics of role ambiguity scale ra01 ra02 ra03 Scale Mean if Scale Variance Item Deleted if Item Deleted 12.03 17.474 11.85 17.278 11.93 17.451 Corrected Item-Total Correlation 817 809 801 Squared Cronbach's Multiple Alpha if Item Correlation Deleted 736 838 703 838 700 840 ra04 ra05 11.82 11.83 16.952 21.985 805 213 715 053 838 935 ra06 11.97 17.764 778 647 844 Item-Total Statistics of job stress scale Corrected Squared st01 st02 st03 st04 st05 st06 Cronbach's Scale Mean if Scale Variance Item-Total Multiple Alpha if Item Item Deleted if Item Deleted Correlation Correlation Deleted 12.09 24.443 747 564 913 11.85 11.94 11.95 11.99 12.01 24.452 23.996 22.173 23.134 23.415 714 784 821 793 813 520 641 715 647 717 917 908 903 906 904 Item-Total Statistics of job satisfaction scale sa011 sa022 Scale Mean if Scale Variance Item Deleted if Item Deleted 3.64 1.550 3.69 1.569 Corrected Item-Total Correlation 735 735 Squared Cronbach's Multiple Alpha if Item Correlation Deleted 540 a 540 a a The value is negative due to a negative average covariance among items This violates reliability model assumptions You may want to check item coding 85 Appendix H: Rotated Factor Matrix Rotated Factor Matrixa Factor ss05 816 ss01 802 ss02 799 ss13 792 ss03 783 ss14 778 ss12 763 ss06 759 ss11 743 ss09 694 ss10 660 ss08 632 ra04 840 ra01 839 ra02 818 ra03 809 ra06 731 318 st06 772 st04 751 st05 705 st03 704 st01 643 st02 581 wl03 822 wl02 817 wl01 817 rc02 rc04 rc03 sa022 381 sa011 348 Extraction Method: Principal Axis Factoring Rotation Method: Varimax with Kaiser Normalization a Rotation converged in iterations .816 803 740 736 642 86 Appendix I: Result test assumption for model 87 88 Appendix K: Result test assumption for model 89 ... OF ECONOMICS HO CHI MINH CITY International School of Business Truong Thi Chi Thanh FACTORS AFFECTING JOB STRESS AND JOB SATISFACTION: AN EMPIRICAL STUDY OF BANKING INDUSTRY IN. .. job stress and job satisfaction in banking industry in Ho Chi Minh City A sample of 250 fulltime bankers in first line in Ho Chi Minh City was surveyed through questionnaire with five-point Likert... In Ho Chi Minh City, Trần Anh Tuấn (2014) predicted that human resources demand of financing - banking industry in 2020 would be about 11.000 employees Nevertheless, the problem of banking industry