Factors affecting to the job satisfaction of vietcombanks employees

RESEARCH PROJECT (BMBR5103) FACTORS AFFECTING TO THE JOB SATISFACTION OF VIETCOMBANK’S EMPLOYEES STUDENT’S FULL NAME : DINH THI QUYNH NHUNG STUDENT ID : CGS00018256 INTAKE : MAY, 2014 ADVISOR’S NAME & TITLE : DBA KHAI NGUYEN HO CHI MINH CITY, AUGUST 2015 Advisor’s Assessment - Advisor’s signature Nguyen The Khai, DBA Student: Dinh Thi Quynh Nhung – MBAOUM0514 K14C TABLE OF CONTENTS  ACKNOWLEDGEMENT LIST OF FIGURES LIST OF TABLE ABSTRACT CHAPTER I: INTRODUCTION 1.1 RESEARCH INTRODUCTION 1.1.1 Motivation of the research 1.1.2 The research problem statement 10 1.1.3 Significance of the research 11 1.1.4 Purpose of the research 11 1.1.5 Scope of the research 12 1.1.6 Question of the research 12 1.2 INTRODUCTION OF VIECOMBANK 13 1.2.1 Overview of Vietcombank 13 1.2.2 Organizational structure of Vietcombank 18 1.2.3 Management system of Vietcombank 21 1.2.4 Corporate culture of Vietcombank 21 CHAPTER II: LITERATURE REVIEW 24 2.1 Job satisfaction 24 2.2 Supervisory support 28 2.3 Perceived organizational support 30 2.4 Performance appraisal system knowledge 32 2.5 Perceived ability - job fit 35 2.6 Need hierarchy theory for job satisfaction 37 Student: Dinh Thi Quynh Nhung – MBAOUM0514 K14C CHAPTER III: RESEARCH MODEL AND HYPOTHESIS 39 3.1 Research model 39 3.2 Contructs 40 3.3 The relationship between each independent variable and dependent variable and Research Hypothesis 40 3.3.1 The relationship between supervisory support and job satisfaction and hypothesis 40 3.3.2 The relationship between perceived organizational support and job satisfaction and hypothesis 41 3.3.3 The relationship between performance appraisal system knowledge and job satisfaction and hypothesis 42 3.3.4 The relationship between percieved ability – job fit and job satisfaction and hypothesis 43 3.4 Research design 44 3.5 Measures of constructs 45 3.5.1 Supervisory support 45 3.5.2 Perceived organizational support 47 3.5.3 Performance appraisal system knowledge 49 3.5.4 Perceived ability - job fit 51 3.5.5 Job satisfaction 53 3.6 Research Participants 53 3.7 Sources of data 53 3.7.1 Primary data 53 3.7.2 Secondary data 54 3.8 Procedure for Data Collection 54 3.8.1 Data collection tools 54 3.8.2 Data collection method 54 Student: Dinh Thi Quynh Nhung – MBAOUM0514 K14C CHAPTER IV: ANALYSIS AND RESULTS 56 4.1 Methods of analysis 56 4.1.1 Descriptive analysis 56 4.1.2 Correlation 56 4.2 Analysis general and demographic information of the respondents 58 4.3 Cronbach’s Alpha (Reliability) 60 4.4 Descriptive Analysis 62 4.5 Correlations among variables 63 4.6 Hypothesis Testing Result 65 4.6.1 Hypothesis Testing Result 66 4.6.2 Hypothesis Testing Result 67 4.6.3 Hypothesis Testing Result 67 4.6.4 Hypothesis Testing Result 68 CHAPTER V: CONCLUSION 69 5.1 Summary of the results 69 5.2 Discussion and Recommendation 70 5.2.1 Discussion 70 5.2.2 Recommendation 73 5.3 Limitations of the research 76 REFERENCES 78 APPENDIX A 82 Student: Dinh Thi Quynh Nhung – MBAOUM0514 K14C ACKNOWLEDGEMENT First and foremost, I would like to express my sincere gratitude to my advisor DBA KHAI NGUYEN for his patience, motivation, enthusiasm, and immense knowledge in the continuous support for my research Without his guidance, I could not have finished it as it is now Besides, his lessons and guidance provide me with necessary knowledge as well as life inspiration He is whom I could never forget in the rest of my life Beside my dearest lecturers, my sincere thanks goes to my colleagues at Vietcombank Sai Gon South Branch who had help me to complete the questionnaire in order to help me conduct this research I would like to show my appreciation for some my bestfriends always share their knowledges and experience with me Last but not least, I am thankful for my family, my parents support spirit for me throughout the period of time I study MBA program Ho Chi Minh, August 2015 Student: Dinh Thi Quynh Nhung – MBAOUM0514 K14C LIST OF FIGURES  Figure 1: Vietcombank Market Position 15 Figure 2: Vietcombank's logo and slogan 17 Figure 3: Current Corporate Structure of Vietcombank 18 Figure 4: Organizational structure of Vietcombank 19 Figure 5: Targeted Corporate Structure of Vietcombank 20 Figure 6: Management system of Vietcombank 21 Figure 7: Hypothesized Research Model 39 Figure 8: Participant's Gender 58 Figure 9: Participant's Age 58 Figure 10: Participant's Acamedic Degree 59 Figure 11: Participant's Working seniority 59 Figure 12: Participant's Working Position 60 Student: Dinh Thi Quynh Nhung – MBAOUM0514 K14C LIST OF TABLES  Table 1: The profile of Vietcombank 15 Table 2: Vietcombank in highlight 16 Table 3: Data collection process 55 Table 4: Pearson Correlation Coefficient ( Davies, 1971) 57 Table 5: Cronbach’s Alpha 61 Table 6: Reliability Statistics of Cronbach’s Alpha 61 Table 7: Descriptive Statistics 62 Table 8: The Pearson’s Correlation Coefficient r of all Independent and Dependent Variables 63 Table 9: Coefficientsa of all Hypotheses 67 Table 10: Model Summary of all hypotheses 67 Table 11: Summary of the results 70 Student: Dinh Thi Quynh Nhung – MBAOUM0514 K14C ABSTRACT “R ecruiting a good employee is very difficult, but retaining that employee is more difficult” So job satisfaction is one of most frequently studied concepts in public management research For decades, reseachers have sought to explain and predict job satisfaction with other key factors of organizatinal behavior (productivity, absenteeism, workplace behavior, and organizational citizenship behavior) The following documentation is a research report completed based on analyzing whether or not there is a significant relationship between Job Satisfaction with Supervisory Support, Perceived Organizational Support, Performance Appraisal System Knowledge and Perceived Ability-Job Fit of Vietcombank’s employees Furthermore, with a study of those factors with use of questionnaires, data will be gathered which will be analyzed for the impact of each factor to job satisfaction From this research findings, Vietcombank will understand more about its employees and improve its human resources strategies and policies in order that employees can increase more satisfied at work Finally, in assisting and improving the four factors impact on job satisfaction positively, recommendations are further suggested Multiple theoretical frameworks regarding job satisfaction are used as the theoretical guide SPSS software is utilized to analyse the data in the research Responses gathered by means of a questionnaire survey from 280 employees of one headquarter and eight transaction offices of Vietcombank Sai Gon South Branch, which were generated and analyzed using Cronbach’s Anpha analysis, descriptive analysis, and correlation analysis Keywords: Job Satisfaction, Supervisory Support, Perceived Organizational Support, Performance Appraisal System Knowledge, Perceived Ability-Job Fit Student: Dinh Thi Quynh Nhung – MBAOUM0514 K14C CHAPTER 1: INTRODUCTION 1.1 RESEARCH INTRODUCTION 1.1.1 Motivation of the research Globalization is the inevitable trend of the world economy Implementation of integration policies can help countries approaching rapidly with scientific and technical achievements, developing national economy Because of a part of the world, Vietnam is strongly influenced by globalization Especially when Vietnam becomes an official member of the World Trade Organization (WTO) and at the end of 2015, Vietnam will join the ASEAN Economic Community (AEC) and becomes a member of the Trans-Pacific Partnership (TPP), all trade barriers between countries were removed, the competition becomes more aggressive than it was Therefore, in order to developt economy, we should take advantage and promote many resources including natural resources, financial resources, scientific-technical advances and especially human resources Human resources are important resource of each country The existence and development of each nation and each business depend on the human resources policies of that country In the age of knowledge, competition among enterprises is often expressed in terms of product, engineering, technology, management methods, ect But all things can copy, recycle or buy rights except human Thus, competition among enterprises together is mainly about human competition Good staff is the most important capital in the business Retaining good staff is a criteria to evaluate elite enterprises It is said that satisfied employee is a productive employee, any kind of grievance relating to organizational or personal always influence on the job So every Student: Dinh Thi Quynh Nhung – MBAOUM0514 K14C APPENDIX A EMPLOYEE SATISFACTION SURVEY  A Basic survery information Dear Sir/Madam, I am Dinh Thi Quynh Nhung As part of my MBA research thesis at MBA Collaboration Program at Open University Malaysia and Ho Chi Minh City University of Technology, I am currently conducting a survey that investigates that “The factors affecting to the job satisfaction at Vietcombank” The goal of this survey is to help Vietcombank to understand more about its employees and to improve its human resources strategies and policies Please spend a little precious time to fill this form out in its entirely with circle () Results will be grouped All personal information and comments will be kept secretly and used for academic purpose only Your name will not be written on the survey If you need any further information related to this questionnaire, please kindly contact me through email: nhungvcbnsg@gmail.com B Instruction for completing the survey Please mark the circle () only one choice for each statement that is most suitable with your response Responses are obtained using a 5-point Likert-type scale where = very dissatisfied, = dissatisfied, = slightly satisfied, = satisfied and = very satisfied Student: Dinh Thi Quynh Nhung – MBAOUM0514 K14C 82 PART 1: SUPPERVISORY SUPPORT No 5-point Likert- Statement My supervisor takes the time to learn about my career type scale 5 5 5 5 goals and aspirations My supervisor care s about whether or not I achieve my goals My supervisor keeps me informed about different career opportunities for me in the organization My supervisor makes sure I get the credit when I accomplish something substantial on the job My supervisor gives me helpful feedback about my performance My supervisor gives me helpful advice about improving my performance when I need it My supervisor supports my attempts to acquire additional training on education to further my career My supervisor provides assignments that give me the opportunity to develop and strengthen new skills My supervisor assigns me special projects that increase my visibility in the organization Student: Dinh Thi Quynh Nhung – MBAOUM0514 K14C 83 PART 2: PERCEIVED ORGANIZATIONAL SUPPORT No Question The organization values my contribution to its well – 10 being The organization fails to appreciate any extra effort 11 from me The organization strongly considers my goals and 12 5 5 values The organization would ignore any complaint from 13 me The organization disregards my best interests when it 14 makes dicisions that affect me Help is available from the organization when I have 15 16 problem The organization really cares about my well-being The organzation is willing to extend itself in order to 17 help me perform my job to the best of my ability Even if I did the best job possible, the organization 18 would fail to notice The organization disregards my best interests when it 19 makes dicisions that affect me Student: Dinh Thi Quynh Nhung – MBAOUM0514 K14C 84 PART 3: PERFORMANCE APPRAISAL SYSTEM KNOWLEDGE No I understand the performance appraisal system being 20 used in my agency My supervisor and I concur on the meaning of the 21 criteria used in the performance appraisal system I understand the objectives of the present performance 22 appraisal system I have a real understanding of how the performance 23 5-point Likert- Statement appraisal system works type scale 5 5 I not understand how my last performance 24 appraisal rating was determined I know the criteria used by my employer to evaluate 25 my performance I understand the standards of performance my 26 employer expects My employer clearly communicates to me the 27 objectives of the performance appraisal system Student: Dinh Thi Quynh Nhung – MBAOUM0514 K14C 85 I would benefit from additional training in the process 28 of the appraisal system Procedures regarding the performance appraisal 29 system are not generally understood by the employees PART 4: PERCEIVED ABILITY - JOB FIT No 5-point Likert- Statement type scale 30 I feel that my work utilizes my full abilities 31 I feel competent and fully able to handle my job 5 5 My job gives me a chance to the things I feel I 32 best 33 I feel that my job and I are well matched I feel I have adequate preparation for the job I now 34 hold PART 5: JOB SATISFACTION INDEX No How satisfied are you with the nature of the work you 35 5-point Likert- Question type scale perform? Student: Dinh Thi Quynh Nhung – MBAOUM0514 K14C 86 How satisfied are you with the person who supervises 36 5 5 you - your organizational superior? How satisfied are you with your relations with others in the organization with whom you work - your co- 37 workers or peers? How satisfied are you with the pay you receive for 38 your job? How satisfied are you with the opportunities which exist in this organization for advancement or 39 promotion? Considering everything, how satisfied are you with 40 your current job situation? C General information about yourself Gender  Male  Female Age  Under 30 years old  Above 30 years old  Colleges Degree  Master Degree  Bachelor Degree  Doctoral Degree Academic degree Working seniority  Under years  From to 10 years  From 11 to 20 years  Above 20 years Working position  Staff  Supervisor Top Manager THANK YOU VERY MUCH FOR YOUR KIND ASSISTANCE! Student: Dinh Thi Quynh Nhung – MBAOUM0514 K14C 87 RESEARCH PROJECT THE FACTORS AFFECTING TO JOB SATISFACTION OF VIETCOMBANK’S EMPLOYEES Professor : Dr Nguyen The Khai Student : Dinh Thi Quynh Nhung Class : MBAOUM0514-K14C ID No : CGS00018256 CONTENTS Vietcombank Introduction Problem Statement Research Model and Hypotheses Cronbach’s Anpha Report Hypotheses Testing Result Discussion VIETCOMBANK INTRODUCTION PROBLEM STATEMENT  Workers in Vietnam change jobs more than other countries  The competition between banks are aggressive than it was  What are the factors make employees work at Vietcombank feel satisfied with the job?  What improvements does Vietcombank must to create an attractive working environment ? RESEARCH MODEL AND HYPOTHESES CRONBACH’S ANPHA REPORT According to George and Mallery (2003), Cronbach’s Alpha from 0.7 to above shows the variables reliable and good for further research HYPOTHESES TESTING RESULT Model a (Constant) SS POS PAS PAJ Dependent Variable: JS Coefficientsa Unstandardized Standardized Coefficients Coefficients B Std Error Beta 2.132 224 199 065 214 070 039 114 205 042 303 035 047 045 t 9.532 3.082 1.813 4.915 752 Sig .000 002 001 000 002 Model Summary R Square Adjusted R Square 516a 266 254 a Predictors: (Constant), SS, POS, PAS, PAJ Model R Std Error of the Estimate 35759 A hypothesis is only supported when it fulfils all three conditions:  R square is positive (>0)  Coefficient β >  having the same sign with the proposed hypotheses  Significant value is less than 0.05 DISCUSSION Based on the results of four hypotheses as mentioned above, management of Vietcombank should concentrate to improve some things as followed: H1+:Vietcombank Managementcontinue of VCB must get more H3+: to improve theacquainted regulation,with the H2+: Vietcombank should restructure of training employees and make employees see them as more a leader, not H4+: Management of Vietcombank give distribution of income according toshould the nature of work, ect comprehensively, build project totoconverse training model as a boss; continue willingness apply supervisory opportunities promotionKPIs andto develop skills and through a setfor of indicators create their motivation to and organizational structure, human resourcesorganizational support aimed at enhancing job satisfaction, abilities non managerial level employees improveofproductivity commitment ... Ability -Job Fit of Vietcombank’s employees Furthermore, with a study of those factors with use of questionnaires, data will be gathered which will be analyzed for the impact of each factor to job satisfaction. .. affected the job satisfaction, outcomes of satisfaction and previous researches related to the job satisfaction 2.1 JOB SATISFACTION The term Job satisfaction is of almost significance from the standpoint... attitude of the employees towards their work  Identify the factors that motivates the employees  Last but not least, it is expected from the study will give suggestions for the Board of Directors