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UNIVERSITY OF ECONOMICS HO CHI MINH CITY International School of Business DƯƠNG THỊ HỒNG NHUNG SOLVING THE PROBLEM OF JOB DISSATISFACTION AT GLOBAL VIETNAM ALUMINIUM CO., LTD MASTER OF BUSINESS ADMINISTRATION Ho Chi Minh City – Year 2020 Page | UNIVERSITY OF ECONOMICS HO CHI MINH CITY International School of Business DƯƠNG THỊ HỒNG NHUNG SOLVING THE PROBLEM OF JOB DISSATISFACTION AT GLOBAL VIETNAM ALUMINIUM CO., LTD MASTER OF BUSINESS ADMINISTRATION SUPERVISOR: DR NGUYEN PHONG NGUYEN Ho Chi Minh City – Year 2020 Page | List of Contents Executive summary 1 Company background 1.1 Overview of Global Vietnam Aluminum Co., Ltd 1.2 The development of Global Vietnam Aluminum Co., Ltd 1.3 The main product of Global Vietnam Aluminum Co., Ltd 1.4 Organizational structure of Global Vietnam Aluminum Co., Ltd 1.5 The strategy of Global Vietnam Aluminum Co., Ltd Symptoms 2.1 The high turnover rate 2.2 Turnover rate of engineer 2.3 Turnover rate by reasons 10 2.4 Initial cause-effect map 12 2.5 Updated Cause-effect map 18 Problem justification 19 3.1 Problem definition 19 3.2 Problem existence 19 3.3 Problem importance 21 Causes validation and solutions 22 4.1 Potential causes 22 4.1.1 Lack of career development 23 4.1.2 Lack of leadership 24 4.1.3 Unprofessional working environment 24 4.2 Causes existence 25 4.3 Alternative Solutions 28 4.4 Solution justifications 33 Page | Action plan 33 Conclusion 38 Supporting information 39 7.1 Methodology 39 7.2 Research tool 39 7.3 Interviewees demographic 40 7.4 Interview Transcription 40 References 59 Page | LIST OF TABLES Table 1: Total employee Turnover Rate in Global Vietnam Aluminium Company Table 2: Employee Turnover Rate of the engineers in Global Vietnam Aluminium Company Table 3: Resignation reasons for the engineer in GVA (2019) 11 Table 4: Training estimated costs 30 Table 5: Motivating estimated costs 32 Table 6: Planning schedule 35 LIST OF FIGURES Figure 1: Company structure Figure 2: Human Resources structure Figure 3: Employee Turnover Rate in Global Vietnam Aluminium Company Figure 4: Engineer turnover rate at Global Vietnam Aluminium Company 10 Figure 5: Engineer resignation reasons in GVA 11 Figure 6: Initial cause-effect map 12 Figure 7: Updated cause-effect map 18 Figure 8: Final cause-effect map 23 Page | Executive summary Nowadays, facing with high turnover rate and low recruitment are more concentrated by many corporations over the world, especially in a highly competitive market Key positions such as expertise, managers, and directors will bring too many benefits and values to the company Employees are major assets of any organization and the effective competitive advantage of many enterprises The importance of employees to an organization has been acknowledged for a long time because they have a role in creating, maintaining a competitive advantage and help the organization more development Lots of companies in Vietnam not pay more attention to human resources, and it is also often left to deal with employee turnover and the difficulties it brings In the market, the competition within the job market is getting fiercer and increased the number of employee turnover rates have become a concern for enterprises as well as the government Employees can leave a company for lots of reasons, when employees willingly leave a company, usually because they have other choices and they willingly go to work in another company This research study was conducted to explore the issue of employee turnover rate and retention talent employees in the manufacturing company, using Global Vietnam Aluminum Co Ltd as the context This research was conducted to assess the impact of employee turnover on organizational performance in a manufacturing company, investigate the causes of staff turnover and finally recommend solutions that can be used to reduce the number of employee turnover in Global Vietnam Aluminium Co Ltd Page | 1 Company background Nowadays, the global economy is developing day by day Vietnam's aluminum industry has continuously developed Policies to encourage foreign countries' investment in Vietnam as well as to encourage Vietnamese enterprises to export to foreign countries have made Vietnam's economy develop in a positive way At this time, in the aluminum market as well as aluminum products in the world is increasingly active while Vietnam is one of the countries attracting high foreign investment from big countries like the USA, Australia, China, Canada In a fast-moving environment, everything needs to change and enhance itself to integrate and develop There is always a chance for us to take part in this challenging business world if we are well-organized and dedicated to devoting to society Grasp that situation, the biggest factory in Vietnam and one of the biggest in Southeast Asia is Global Vietnam Aluminum Co., Ltd (GVA) is 100% Australian capital investment invested in 2011 The factory is located in My Xuan B1 Conac, industry zone, Ba Ria – Vung Tau province, which has a strategic advantage of transportation logistics and economic efficiency One of the emerging newcomers to confront this challenge and undertake this responsibility An advanced infrastructure at GVA provides customers with reliable and sustainable production and distribution New factory with all of the latest technology in the aluminum industry that can satisfy every requirement of customers With modern equipment and machinery, the company is gradually asserting its position in the aluminum industry, especially aluminum billet Along with understanding the aluminum market and business environment of Asia in particular and of the world in general, Global Vietnam Aluminium brings suitable solutions to the business characteristics and environment of each enterprise Global Vietnam Aluminium team comprises experienced professionals and dedicated workers with all modern production techniques that enable the company to provide the best quality products in less time The company prioritizes the employment of domestic labor, ensuring the rights and interests of workers, strictly complying with the regimes prescribed by the Labor Law, respecting the right to organize trade unions under the Trade Union Law Create jobs for officials and employees, improve the average income is Page | increasing Additionally, Global Vietnam Aluminum Co., Ltd often gives training sessions to all workers for the enhancement of productivity 1.1 Overview of Global Vietnam Aluminum Co., Ltd - Full name : Global Vietnam Aluminum Co Ltd - Trading name : GVA - Address : My Xuan B1 Conac Industrial Zone, My Xuan, Ba Ria – Vung Tau province - General Director : Jacky Cheung - Start date : 08/8/2011 - Charter capital : 5.000 billion USD - Company size : 63 hectares - Total staff : 963 1.2 The development of Global Vietnam Aluminum Co., Ltd Global Vietnam Aluminum Co., Ltd was founded by two major shareholders, namely Jacky Cheung and Wang Tong, with five thousand billion dollars in capital investment and was established in 2011 In the beginning, company size was 40 hectares with around four hundred employees and expanded to 63 hectares three years later, with numerous hard working employees reaching up to approximately one thousand Since its establishment, Global Vietnam Aluminum continues to develop and remain as an outstanding organization in the manufacturing of aluminum extrusions in Southeast Asia within the last few years Producing and supplying high-quality aluminum billets with currently the production capacity has crossed a record of up to 200,000 metric tons annually and export to countries around the world, for example, Philippines, Malaysia, Indonesia, Thailand, Canada, USA, Hong Kong, China, etc to name just a few to serve and support customers' needs through the best services and products At the very first beginning of our operation, Global Vietnam Aluminium only focuses on manufacturing and selling aluminum billet 6xxx series, among them, the core product is the primary aluminum billet 6063 which receives a great deal of recognition among customers across the domestic and international market Realizing that billet is just a Page | semi-final product and does not bring us the opportunity to make this world a more beautiful and better place, at the end of 2014, Global Vietnam Aluminium decided to adjust our business strategy and headed to become the top aluminum extruders within the region With the extruded capacity of up to 80,000 MT per year sponsored by the 03 most advanced couple presses in the plant, Global Vietnam Aluminium entirely confident to supply the best aluminum profiles to serve the needs and demands of the market 1.3 The main product of Global Vietnam Aluminum Co., Ltd GVA uses primary aluminum ingots as raw materials with five main products selected from different countries to ensure the best quality as below: - 05 couples of smelting/furnaces (500 – 600 MT/day) - 05 homogenization furnaces - 03 couples of aluminum extrusion presses (2000; 2750; 3600 MT) - Anodized facilities - Powder coating facilities 1.4 The organizational structure of Global Vietnam Aluminum Co., Ltd GVA has a main factory in Tan Thanh town, Ba Ria - Vung Tau province, and has around 1.000 employees from around the country come to work and 23 ex-pats who are working in departments: Human Resource, Quality Control, IT, Extrusion, Mold, Warehouse, and Painting The Board of Director who is responsible for all activities in the company and drive GVA going on the right track and strategy Each department played an essential role in supporting the company to expand and develop business in Vietnam Page | Figure 1: Company structure The organizational chart shows the internal structure of the Global Vietnam Aluminium organization Board of directors in the highest-ranking position atop the chart and followed by the following in descending vertical order: - Chairman of the board of directors - General director - Head of departments Figure 2: Human Resources structure Page | me But if I can, I will create a the more environment dynamic working working environment like more events, team building Mr Wei: Uhm, I think everybody work here who is thought like me that they will leave the company if they have a better opportunity Mr Ping: Sometimes I feel unhappy and want to leave the company I want to look for the place with more challenges It will help me develop myself Q6: What you think Working environment about company policies for employees? Mr Thuong: In my opinion, the - No connection - Salary ok but salary and bonus are good, but I need more programs to connect everybody It can help the employee open their mind and easy to share Besides, this will make us learn with each other Mr Kuan: Company policies are fine, but it will better if no teamwork everybody works as a team Everybody here just likes to work individually and not want to share anything Should have more event and program for employees to connect with others Page | 48 Mr Senh: I feel unhappy because - Wage is ok, I not see any programs or create more event events to make employees more for connection energy and happier I have to spend more than hours a day at the company, but we just come here for money and go back home after work I think no one loyal to the company if the outside has a company willing to pay higher In order to keep employee, not only money but also company have to create a happy working environment for employees Mr Patrick: Salary is good, but I - Salary ok, Not don't think that is enough to a good attract and keep my work here for working a long time Besides the salary environment and bonus, everyone is still looking for a positive environment to work for At that place, I will have a friendly colleague They can support and grow together Mr Than: I am satisfied with my - Create a friendly revenue But I think the company working should create a dynamic working environment environment for us to work because we don't have a chance to connect, we just see lots of work Page | 49 and report It is easy to meet the stressful Mr Lin: I think it's ok Mr Wei: I saw that it is just normal We don't have activities Don't have activity for team building and sharing I not expect that All of the reasons in the exit interview with employees who leave the company show that they are not satifed with the company, as well as the policy in the company This makes them easily feel down at work and it will be more difficult if the company not focus on and improve it Mr Ping: I think policies are fine Q7: There are lots of employees join - Poor Management and leave their work in a few months - Lack of training How you think about that and why - Poor management it happened? Mr Lin: Yes, I have seen lots of - No motivation staff come and leave until now I - Do not have a think that is not good for the chance company if it's still happened improve Most of them quit their job and develop to and leave the company because of motivation, not interest and commitment to work, and they not have a chance to improve and Page | 50 develop themselves Mr Kuo: I have worked here for years until now I saw many No chance for development employees come and leave the company event in their probation period They leave not because of the salary, but they leave because they not have much chance for development due to the working environment and the opportunity to update their skills Mr Than: I feel tired because I - Don't happy with have to more Turnover rate is top management high because employees not - Poor feel happy with work and no environment working supporting from top management as well as from colleagues Mr Patrick: I have seen this - Employees leave because of poor anything Many employees told management, no me that they not see the future teamwork, and no career learning happened, but and I the cannot motivation program in the company It makes them don't happy to work When they join until they leave, the company has no program for employee and connection, learning to sharing, grow Just working and come back home Mr Wei: I think company will fail - Poor Page | 51 in competition Lots of employees management, no leave the company within a year training program We can recruit, but this will take and teamwork a lot of time and cost to train - Cannot them The main reasons for enough because recruit employees to leave the company management, are management style, working working environment, have no opportunity environment to develop and difficult to work with other colleagues - Q8: What you like and dislike environment about GVA? Mr Tuan: Uhm, I don't know how to say I don't like lots of things here Working First is the working environment because employees are working individually and unwilling to share information as - No support from others - Management HR Policies - Unsupported from colleagues - Unhappy working environment well as support Second is the leader here, I am not happy with my boss because of management styles that make me feel uncomfortable and meet some stress at work when working with him, and even sometimes, he does not respect and blame me in front of others ashamed This and makes me self-deprecating Many employees here quit their job and leave the company Page | 52 because of him But why will I stay here? It may be good salary That's it Mr Ping: I saw that the people here unfriendly and they not support together even - Cooperation - Leadership their colleagues Many people come for a few months and go because of the working environment Sometimes I did not understand clearly in my boss's decisions and requirements When suggestions for sometimes he I make the job, says yes, sometimes he says no than saying yes again This makes me confused, and then I not know what the right is and the wrong direction, whether my work suitable or not, and it makes me easy to frustrate with them and then leaving the job Mr Patrick: I have no comment I - Nothing to say just come here because of a high salary That's it Mr Senh: I most dislike the leadership style My - Leadership boss sometimes asks me unrelated things to work, but I have to answer his question and Page | 53 requirement If not, he will raise his voice with me I feel stress and tired when working with him He does not motivate his employees when work finish well but always gives lots of complaints Moreover, I see that he is not fair in some cases For example, if he like someone, everything they is right and vice versa, always wrong Mr Than: I have nothing to say - Nothing to say about what I like Mr Kuo: I not care and have - Nothing to say nothing to tell about this I not receive many benefits like other company Mr Wei: I feel unhappy with the policies It is not good for the staff I think employees here who not like to stay for a long time - Career development - Working environment with the organization because of the policies development environment for and Everyone career working works here have less motivation to work and will leave if they have another chance, Mr Thuong: I am looking for a new job If I am happy and more - Looking for a new opportunity Page | 54 satisfied with the company, I will continue to work here But I - Need to improve skills not know how my career path here is and what I will be in the next five years There are no training and development in GVA I need to learn and update new things every day to improve my knowledge and skills to work better, but I not have that opportunity in GVA Management style Q9: How you think about your direct manager? Mr Tuan: As I told above, I am - Management style not happy with my boss because - Policies to keep of management styles that make me feel uncomfortable and meet some stress at work talents - Management style when working with him, and even sometimes, he does not respect and blame me in front of others This makes me ashamed and selfdeprecating In my opinion, he should change his management style There is a reason why many employees quit their job and leave the company Mr Senh: As I said, I have been working here for years I had worked with some managers with - Difference management styles - Bad management style Page | 55 different kinds of styles My boss sometimes asks me unrelated things to work, but I have to answer his question and requirement If not, he will raise his voice with me I feel stress and tired when working with him He does not motivate his employees when work finish well but always gives lots of complaints Moreover, I see that he is not fair in some cases For example, if he like someone, everything they is right and vice versa, always wrong Be honest I feel uncomfortable with my manager now Mr Ping: Sometimes he is happy, sometimes he looks so - Uncomfortable with the manager uncomfortable Sometimes I did not understand clearly in my boss's decisions and requirements When I make suggestions for the job, sometimes he says yes, sometimes he says no than saying yes again This makes me confused, and then I not know what the right is and the wrong direction, whether my work suitable or not, and it makes me Page | 56 easy to frustrate with them and then leaving the job He makes employees feel uncomfortable when working with him Mr Than: I will not contact him if - High I not need his support, and I rate feel unhappy when works with him Lots of my colleagues left turnover - Unhappy with the Manager the company because of him, and - No motivation I also have the same thought like - Unhappy them with management Mr Kuan: I feel uncomfortable style with the ways he manages He does not know the way to motivate employees He just cares about working results and deadlines This will make me feel stress From the first day until now, I never heard about team building or any programs like that to connect people Just go to work and must finish daily tasks on time That is the reason why employees have no chance to communicate Q10: How is your works now? Mr Senh: My work now interesting, but sometimes I feel tired because of the working environment unfriendly and no - Interested - High workload - Leadership but tired - Turnover rate is Page | 57 career path If the company have more training employees, sessions for will be they high developed and engage with the company Mr Tuan: I think it is ok High - High workload workload, but I not care much Mr Than: I am not happy with my job because of the working - Not happy with the manager environment and management He always asking me about the result and not care about anything, but how can I have a better result when I have not motivated enough to work Mr Patrick: How to say about - Tired that? 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Aluminum Co. , Ltd 1.2 The development of Global Vietnam Aluminum Co. , Ltd 1.3 The main product of Global Vietnam Aluminum Co. , Ltd 1.4 Organizational structure of Global Vietnam. ..UNIVERSITY OF ECONOMICS HO CHI MINH CITY International School of Business DƯƠNG THỊ HỒNG NHUNG SOLVING THE PROBLEM OF JOB DISSATISFACTION AT GLOBAL VIETNAM ALUMINIUM CO. , LTD MASTER OF. .. success of the business The high rate of job dissatisfaction can transform the company from inside, reduce productivity, decrease employee’s performance, innovation, extension, customer dissatisfaction,
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