The factors affect on employees job satisfaction of BIDV

RESEARCH PROJECT (BMBR5103) THE FACTORS AFFECT ON EMPLOYEE’S JOB SATISFACTION IN BIDV STUDENT’S FULL NAME: NGUYEN MINH DANG STUDENT ID: CGS00018528 INTAKE: SEPTEMBER 2014 ADVISOR’S NAME AND TITLE: DR NGUYEN THE KHAI December, 2015 ADVISOR’S ASSESSMENT Advisor’s signature NGUYEN THE KHAI Nguyen Minh Dang – MBAOUMK15C ACKNOWLEDGEMENT This study is made possible through the help and support from everyone, including: parents, lecturers, family, friends, colleagues and in essence, all of the others who help me to complete this study Especially, please allow me to dedicate my acknowledgment of gratitude toward the following significant advisors and contributors: First and foremost, I would like to thank Dr Nguyen The Khai for his most support and encouragement He kindly read my study and offered invaluable detailed advices on grammar, organization, and the theme of the study Second, I would like to thank my classmates to provide valuable advices and supports for my pursuit of the master degree Finally, I sincerely thank to my parents, family, and colleagues, who provide the advices and supports The product of this study would not be possible without all of them Nguyen Minh Dang – MBAOUMK15C TABLE OF CONTENTS ADVISOR’S ASSESSMENT ACKNOWLEDGEMENT LIST OF FIGURES LIST OF TABLES ABBREVIATIONS ABSTRACT CHAPTER 1: INTRODUCTION Company Introduction Handbook Of BIDV Brand Identity History Of BIDV 10 Fields Of Operations 11 Human Resources 12 Network 12 Customers 12 Technology 13 Commitment 13 Business Reputation Of BIDV 13 BIDV Overview 14 RESEARCH INTRODUCTION 17 Statement of the Problem 17 RESEARCH OBJECTIVES 17 RESEARCH QUESTIONS 18 Scope Of The Study 18 Research Design 18 Value of Research 19 CHAPTER 2: LITERATURE REVIEW 20 JOB SATISFACTION 20 ORGANIZATIONAL JUSTICE 24 WORK - FAMILY CONFLICT 25 PERSON - ORGANIZATION FIT 27 Nguyen Minh Dang – MBAOUMK15C WORKPLACE VALUES 29 CHAPTER 3: RESEACH MODEL AND HYPOTHESES 32 Research Model 32 Dependent Variables: 32 Independent Variables: 32 Constructs: 32 RESEARCH HYPOTHESES 33 Instruments 39 Sampling Method and sample size: 42 Data Analysis Method: 43 Method of Data collection 45 Demographic Characteristics of the Respondents 47 Reliability Analysis 49 DESCRIPTIVE STATISTICS 51 Correlations among variables 51 Hypotheses Testing Results 52 CHAPTER 5: CONCLUSION 55 Summary and Discussion: 55 LIMITATION AND RECOMMENDATION FOR FUTURE RESEARCH 56 THE LIMITATIONS OF THE STUDY: 56 RECCOMENDATIONS 56 REFERENCES 58 APPENDIX 71 APPENDIX 80 Nguyen Minh Dang – MBAOUMK15C LIST OF FIGURES Figure 1: Proposed Research Model of Employee’s Job Satisfaction in BIDV Figure2: A summary of demographic characteristics of the respondents Nguyen Minh Dang – MBAOUMK15C LIST OF TABLES Table 1: Summary of Hypotheses Table 2: Cronbach's Alpha- Internal consistency Table 3: Summary of Cronbach’s Alpha of the variables Table 4: Descriptive Statistics Table 5: Correlations among Variables Table 6: Model Summary of all hypotheses Table 7: Coefficients of all hypotheses Table 8: Hypotheses Statistic Results Nguyen Minh Dang – MBAOUMK15C ABBREVIATIONS Joint stock commercial bank for investment and BIDV development of Vietnam HRM Human Resource Management SPSS Statistical Packages for the Social JS Job Satisfaction OJ Organizational Justice DJ Distributive Justice PJ Procedural Justice WFC Work – Family conflict POF Person – organization fit VA Workplace values Nguyen Minh Dang – MBAOUMK15C ABSTRACT Job Satisfaction can be defined as the level of positive emotions or attitudes that individuals have toward their work When an employee says he has a high job satisfaction, which means that he really liked his work, felt good about it and the dignity of his work Job satisfaction is an important technique used to motivate employees to work harder This study purposely head to recognize the factors that affect the jo b satisfaction among the employees working at BIDV The study’s results indicated three factors (variables) which clearly laid effects on the employee ’s Job Satisfaction in BIDV named particularly the following terms: Organizational Justice, P e r s o n - Organizational fit and Workplace Values Data analysis revealed that there is a positive relationship between the each factor of employee’s Job Satisfaction and the following factors: Organizational Justice, Work – Family conflict, P e r s o n - Organizational fit, Workplace Values Furthermore, relevant recommendations for improving the employee satisfaction are proposed Nguyen Minh Dang – MBAOUMK15C CHAPTER 1: INTRODUCTION Company Introduction As a long-established bank, BIDV has funded many investment projects and key economic areas of the country Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) has also built the largest enterprise customers, while confirming the implementation of prestigious items, objectives, economic programs and social security of the country - Full name: Ngân hàng TMCP Đầu tư Phát triển Việt Nam - International Transaction Name: Joint Stock Commercial Bank for Investment and Development of Vietnam - Abbreviated name: BIDV - Address: BIDV Tower, 35 Hang Voi Street, Hoan Kiem District, Hanoi City - Tel: 04.2220.5544 - Fax: 04 2220.0399 - Website: www.bidv.com.vn - Email: Info@bidv.com.vn Founded on 04/26/1957, BIDV is the oldest Commercial Bank in Vietnam Handbook Of BIDV Brand Identity BIDV is one of the banks which pay early attention to the building up basic elements for a brand identity system Logo with its symbol in olivary fruit shape (but without “BIDV” phrase) was designed directly by Former Chairman of Director Nguyen Van Doan in 1990 and was officially publicized on 25th September 1991 by slogan "Effective Business of customers is the goal of BIDV” The launch of "brand identity handbook" was a success in building BIDV brand in 2009 Brand identity system of BIDV becomes an effective promotional tool Nguyen Minh Dang – MBAOUMK15C It’s really not possible to change things around here? Strongly disagree Neither Disagree agree nor Agree disagree Strongly agree There are adequate procedures to get your performance rating reconsidered if necessary? Strongly disagree Neither Disagree agree nor Agree disagree Strongly agree You understand the performance appraisal system being used in this organization? Strongly disagree Neither Disagree agree nor Agree disagree Strongly agree When changes are made in this organization, the employees usually lose out in the end? Strongly disagree Neither Disagree agree nor Agree disagree Strongly agree Affirmative action policies have helped advance the employment opportunities in this organization? Strongly disagree Disagree Nguyen Minh Dang – MBAOUMK15C Neither agree nor Agree Strongly agree 72 disagree In general, disciplinary actions taken in this organization are fair and justified? Strongly disagree Neither Disagree agree nor Agree disagree Strongly agree Promotions or unscheduled pay increases here usually depend on how well a person performs on your job? Strongly disagree Neither Disagree agree nor Agree disagree Strongly agree 10 Under the present system, financial rewards are seldom related to employee performance? Strongly disagree Disagree Neither agree nor disagree Agree Strongly agree 11 There is a tendency for supervisors here to give the same performance ratings regardless of how well people perform their job? Strongly disagree Disagree Neither agree nor disagree Agree Strongly agree 12 Under the present system, supervisors here get a few tangible rewards for excellence performances? Strongly Disagree Neither Agree Strongly Nguyen Minh Dang – MBAOUMK15C 73 disagree agree nor agree disagree 13 Performance appraisal influence personnel actions taken in this organization? Strongly disagree Neither Disagree agree nor Strongly Agree agree disagree 14 Your supervisor evaluated your performance on things not related to your job? Strongly disagree Neither Disagree agree nor Strongly Agree agree disagree 15 You will be demoted or removed from your position if you perform your job poorly? Strongly disagree Neither Disagree agree nor Strongly Agree agree disagree 16 Your performance rating presents a fair and accurate picture of your actual job performance? Strongly disagree Neither Disagree agree nor Strongly Agree agree disagree 17 Your work schedule often conflicts with your family life? Nguyen Minh Dang – MBAOUMK15C 74 Strongly disagree Disagree Neither agree Strongly Agree nor disagree agree 18 After work, you come home too tired to some of the things you’d like to do? Strongly disagree Disagree Neither agree nor disagree Agree Strongly agree 19 On the job, You have so much work that it takes away from your interests? Strongly disagree Disagree Neither agree nor disagree Agree Strongly agree 20 Your family dislikes how often You are preoccupied with your work when you ‘re at home Strongly disagree Disagree Neither agree nor disagree Agree Strongly agree 21 Because your work is demanding at times you are irriable at home Strongly disagree Neither Disagree agree nor Agree disagree Strongly agree 22 The demands of your job make it difficult to be relaxed all the time at home Strongly disagree Disagree Neither agree nor disagree Agree Strongly agree 23 Your work takes up time that you ‘d like to spend with your family Nguyen Minh Dang – MBAOUMK15C 75 Strongly disagree Disagree Neither agree nor disagree Agree Strongly agree 24 Your job makes it difficult to be the kind of spouse or parent that I’d like to be Strongly disagree Neither Disagree agree nor Strongly Agree agree disagree 25 To what degree feel your values “match” or fit this organization and the current employees in this organization? Not at all Slightly Moderately Very Completely 26 Your values match those of the current employees in this organization? Not at all Slightly Moderately Very Completely 27 Do you think the values and “personality” of this organization reflect your own values and personality? Not at all Slightly Moderately Very Completely 28 Attainment of terminal value item: A comfortable life (a properous life) Least Less important important Important Nguyen Minh Dang – MBAOUMK15C Very Most important important 76 29 Attainment of terminal value item: An exciting life (a stimulating, active life) Least Less important important Important Very Most important important 30 Attainment of terminal value item: A sense of accomplishment (lasting contribution) Least Less important important Important Very Most important important 31 Attainment of terminal value item: A world at peace (free of war and conflict) Least Less important important Important Very Most important important 32 Attainment of terminal value item: A world of beauty (beauty of nature and the arts) Least Less important important Important Very Most important important 33 Attainment of terminal value item: Equality (brotherhood, equal opportunity for all) Least Less important important Important Very Most important important 34 Attainment of terminal value item : Family security (Taking care of loved ones) Least Less Important Very Most Nguyen Minh Dang – MBAOUMK15C 77 important important important important 35 Attainment of terminal value item: Freedom (Independence, free choice) Least Less important important Important Very Most important important 36 How satisfied are you with the nature of the work you perform? Strongly disagree Neither Disagree agree nor Agree disagree Strongly agree 37 How satisfied are you with the person who supervises you – your organizational superior? Strongly disagree Neither Disagree agree nor Agree disagree Strongly agree 38 How satisfied are you with yout relations with others in the organization with whom you work – your co-workers or peers? Strongly disagree Neither Disagree agree nor Agree disagree Strongly agree 39 How satisfied are you with the pay you receive for your job? Strongly disagree Neither Disagree Nguyen Minh Dang – MBAOUMK15C agree nor disagree Agree Strongly agree 78 40 How satisfied are you with the oportunities which exist in this organization for advancement or promotion? Strongly disagree Neither Disagree agree nor Agree Strongly agree disagree 41 Considering everything, how satisfied are you with your current job situation? Strongly disagree Neither Disagree agree nor Agree Strongly disagree agree Personal Information Gender  Male  Female Age  Under 24 years old from 24 to 36 years old  From 36 to 45 years old above 45 years old Academic degree  High school  College degree  Master Degree  Doctoral Degree  Bachelor Degree Working seniority  Under year  from to years  From 3to years  above years Working position  Direct employee  Office staff  Manager  Senior Manager  Supervisor/Team leader THANKS FOR YOUR HELPFUL SHARE Nguyen Minh Dang – MBAOUMK15C 79 APPENDIX PRESENTATION OF BUSINESS RESEARCH METHODS Business Research BMBR5103 _ THE FACTORS AFFECT ON EMPLOYEE’S JOB SATISFACTION OF BIDV _ Instructor: Dr Khai Nguyen Presented by: Nguyen Minh Dang Business Research Introduction - Full name: Ngân hàng TMCP Đầu tư Phát triển Việt Nam - International Transaction Name: Joint Stock Commercial Bank for Investment and Development of Vietnam - Abbreviated name: BIDV - Address: BIDV Tower, 35 Hang Voi Street, Hoan Kiem District, Hanoi City - Tel: 04.2220.5544 - Fax: 04 2220.0399 - Website: www.bidv.com.vn - Email: Info@bidv.com.vn Business Research Nguyen Minh Dang – MBAOUMK15C 80 Statement of problem • Job satisfaction of employees is a very important branch to operate the businesses successfully • Enhance the satisfaction level of employees will maintain the stability of the workforce, reduce operating costs and increase business productivity • Maintain the current system and training the staff from Mekong Housing Bank (MHB) to keep up with the current staff of BIDV Business Research Research Model Organizational Justice H2 - Work - Family conflict H1 + Job Satisfaction Person Organization Fit H3 + H4 + Workplace Values Business Research Nguyen Minh Dang – MBAOUMK15C 81 Measure of variables Variables Organizational Justice Author Distributive Justice Procedural Justice Work – Family conflict Person – Organization fit Workplace values Job satisfaction Year Number of Items 11 Sweeney and McFarlin 1997 13 Kopelman, Greenhaus, and Connolly 1983 Cable and Judge 1996 Rokeach 1973 36 Schiresheim and Tsui 1980 Business Research Survey information • Sample size: 400 respondents • 03 methods for data collection: – Mail survey – Online survey – Paper survey • All adequate responses were coded and processed by using SPSS software Business Research Nguyen Minh Dang – MBAOUMK15C 82 Descriptive Statistics Variables Number of sample Minimum Maximum Mean Std Deviation JS 400 1.33 5.00 3.6421 59377 OJ 400 2.00 4.81 3.5672 48646 WFC 400 1.63 5.00 3.7131 55583 POF 400 2.00 5.00 3.8525 63865 WV 400 1.38 5.00 3.7663 63686 Valid N (listwise) 400 Business Research Cronbach’s alpha Cronbach' s Number of Alpha Items 0.902 PJ 0.847 Work - Family conflict WFC 0.872 Person – Organization fit POF 0.836 Workplace values WV 0.902 JS 0.885 Variable’s name 1.Organizational Justice (OJ) Distributive Justice Procedural Justice Job satisfaction Variable DJ Business Research Nguyen Minh Dang – MBAOUMK15C 83 Nguyen Minh Dang – MBAOUMK15C 84 Hypotheses Testing Result Variable’s name Variable Beta Sig Result Organizational Justice OJ 0.528 000 Supported Work - Family conflict WFC - 068 226 Not Supported Person - Organization fit OS 0.166 001 Supported Workplace values DJ 254 000 Supported R squared: 0.503 Business Research Discussions Hypothesis • Distributive and Procedural Justice must be public and support the employees to get their job satisfaction higher Hypothesis • Not supported Hypothesis Hypothesis • When the employees felt that they fitted with the enterprise, their satisfaction is higher than normal • Self-centered or society – centered influence on employee’s job satisfaction SOLUTIONS FOR BIDV IN THE FUTURE ? Business Research Nguyen Minh Dang – MBAOUMK15C 85 End of presentation THANKS FOR YOUR ATTENTION Business Research Nguyen Minh Dang – MBAOUMK15C 86 ... master the job satisfaction of the employees right in this period As a result in this study, I focused only on identifying and analyzing the impacts of these factors on job satisfaction of employees. .. and Job satisfaction The relationship between Person – Organization fit andJob Satisfaction The relationship between Workplace Values and Job Satisfaction Scope Of The Study Due to the limitation... of time and resources, this study only concentrates on employees who can be contacted to answer the questionnaire These questions mainly focus on the satisfaction of employees BIDV with 400 employees