UNIVERSITY OF ECONOMICS AND LAW BUSINESS ADMINISTRATION DEPARTMENT –––––– NGUYEN THI NGOC TRAM FACTORS AFFECTING JOB SATISFACTION OF EMPLOYEES AT VUS INTERNATIONAL JOINT STOCK COMPANY MAJOR: BUSINESS ADMINISTRATION MAJOR CODE: 7340101 GRADUATION THESIS INSTRUCTOR: MA. LE THI HA MY Ho Chi Minh City, March 2024 UNIVERSITY OF ECONOMICS AND LAW BUSINESS ADMINISTRATION DEPARTMENT –––––– GRADUATION THESIS FACTORS AFFECTING JOB SATISFACTION OF EMPLOYEES AT VUS INTERNATIONAL JOINT STOCK COMPANY MAJOR: BUSINESS ADMINISTRATION MAJOR CODE: 7340101 INSTRUCTOR: M.A LE THI HA MY STUDENT NAME: NGUYEN THI NGOC TRAM STUDENT CODE: K204070366 Ho Chi Minh City, March 2024 i ACKNOWLEDGEMENT This graduation thesis marks the culmination of dedicated learning and growth within the academic environment of the University of Economics and Law. Thanks to the invaluable support of my instructors and the hands-on experience gained during my internship at VUS International Joint Stock Company, I am eager to delve into the study of "Factors impacting employee job satisfaction at VUS International Joint Stock Company." I extend sincere thanks to the faculty at the University of Economics and Law, particularly the Department of Business Administration, for imparting essential knowledge and skills crucial for my future. I'm also grateful to the Human Resources department for their invaluable assistance in data collection, which greatly aided this dissertation.
In particular, I also want to give a special appreciation to MA. Le Thi Ha My for unwavering mentorship, guiding me through challenges and enriching my research abilities. Her support has been vital to the success of this thesis. While I've endeavored to ensure its quality, I acknowledge potential limitations due to time constraints and my knowledge.
Therefore, I welcome feedback from esteemed faculty to refine this work further. Gratitude to all who contributed to this endeavor. ii TABLE OF CONTENTS ACKNOWLEDGEMENT. i TABLE OF CONTENTS.
ii LIST OF TABLE. vi LIST OF FIGURE. The reason for choosing the topic. Domestic research of job satisfaction of employees.
International research of job satisfaction of employees. Significance of the study. Structure of the research. Employee satisfaction at work.
Related theories and models. Maslow's Hierarchy of Needs Theory. Herzberg's Two-Factor Theory. McClelland's Human Motivation Theory.
Vroom's Expectancy Theory. Adams' Equity Theory. Alderfer's ERG Theory. Models for assessing job satisfaction.
Hackman and Oldham's Job Characteristics Model. Kreitner & Kinicki's Organizational Behavior Model. Job Satisfaction Measurement Scales. The Job Descriptive Index (JDI) by Smith, Kendall, and Hulin.
Minnesota Satisfaction Questionnaire (MSQ) by Weiss. Job in General scale (JIG) by Ironson. Society for Human Resource Management (SHRM). Compare the characteristics of the measurement scales.
Experimental Studies on Employee Job Satisfaction. Hypotheses and research models. Proposed research model. The research hypotheses.
Factors affecting employee job satisfaction. Scale for measuring employee job satisfaction. Data collection methods. Data analysis and processing methods.
Data analysis method. Descriptive statistics method. Cronbach's alpha test. Exploratory Factor Analysis (EFA).
Multiple linear regression analysis. Analysis of variance (ANOVA). Descriptive statistics of the data. Number of data collection samples and response rate.
Statistics describing survey sample characteristics. Cronbach’s Alpha test. Salary and Benefits - TLPL. Dependent variables - SHL.
Exploratory Factor Analysis (EFA) Testing. Cronbach's Alpha coefficient. Dependent variable - SHL. Analyzing the mean values of variables in the research model.
Exploratory Factor Analysis (EFA). Multiple regression analysis. Pearson's correlation coefficient test. Multivariate Logistic Regression test.
Discussion on the results of the regression analysis. ANOVA testing based on genders. ANOVA testing based on age. ANOVA testing based on income.
ANOVA testing based on level of education. ANOVA testing based on job positions. Summary of the research. Management implications for increasing employee satisfaction with service quality.
“Training and Promotion” factor. “Working conditions” factor. “Nature of the job” factor. “Salary and Benefits” factor.
“Job stability” factor. “Workplace relationship” factor. Limitations of the study and future research directions. 92 APPENDIX 2: Pre-test results.
97 APPENDIX 3: Official-test results. 103 vi LIST OF TABLE Table 2. Summary of factors influencing employee job satisfaction from related studies. 2 Summary of variables in the research model by authors both domestically and internationally.
Explanation of dependent and independent variables in the research model on factors influencing job satisfaction among employees at Vietnam-America International English Language Joint Stock Company (VUS). Measurement Scale of Employee Job Satisfaction. Survey Results on Employee Job Satisfaction. Descriptive characteristics of samples by gender.
Descriptive characteristics of samples by age. Descriptive characteristics of samples by income. Cronbach's Alpha analysis of the variable "Salary and Benefits" in the research model. Cronbach's Alpha analysis of the variable "Nature of the job" in the research model.
Cronbach's Alpha analysis of the variable "Job stability" in the research model. Cronbach's Alpha analysis of the variable "Job stability" in the research model, second round. Cronbach's Alpha analysis of the variable "Working conditions" in the research model. Cronbach's Alpha analysis of the variable "Working conditions" in the research model, second round.
Cronbach's Alpha analysis of the variable "Workplace relationships" in the research model. Cronbach's Alpha analysis of the variable "Workplace relationships" in the research model, second round. Cronbach's Alpha analysis of the variable "Training opportunities and promotions" in the research model. The Cronbach’s Alpha value for dependent variable.
The results of KMO analysis. The results of the Varimax rotation matrix in the EFA examination. Cronbach's Alpha analysis of the variable " Salary and Benefits" in the research model. Cronbach's Alpha analysis of the variable "Nature of the job" in the research model.
Cronbach's Alpha analysis of the variable "Job stability" in the research model. Cronbach's Alpha analysis of the variable "Working conditions" in the research model. Cronbach's Alpha analysis of the variable "Workplace relationships" in the research model. Cronbach's Alpha analysis of the variable "Training opportunities and promotions" in the research model.
Cronbach's Alpha analysis of the variable "Training opportunities and promotions" in the research model, round two. Cronbach's Alpha analysis of the variable "Employees’ satisfaction" in the research model. Analyzing the mean value of the variable "Working Conditions". Analyzing the mean value of the variable "Job stability".
Analyzing the mean value of the variable "Nature of the job". Analyzing the mean value of the variable "Salary and Benefits". Analyzing the mean value of the variable "Development opportunities and Promotion". Analyzing the mean value of the variable "Workplace relationship".
Results of Exploratory Factor Analysis (EFA). The results of the Varimax rotation matrix in the EFA examination. Analyzing the KMO coefficient for dependent variables. Labeling representative names for the factors.
Analysis of variable correlation in the research model. Regression analysis of employee job satisfaction in VUS. Regression results and multicollinearity test through residual VIF testing of the research model. Oneway Anova analysis results among gender groups.
Oneway Anova analysis results among age groups. Oneway Anova analysis results among income groups. Oneway Anova analysis results among level of education groups. Oneway Anova analysis results among job positions.
1 Longevity-based Bonus Policy. 85 x LIST OF FIGURE Figure 2. Maslow's Hierarchy of Needs Theory. Herzberg's Two-Factor Theory.
3 McClelland's Human Motivation Theory. Vroom's Expectancy Theory. Adams' Equity Theory. Alderfer's ERG Theory.
Hackman and Oldham's Job Characteristics Model. The measurement criteria for satisfaction MSQ by Weiss et al. 9 Proposed research model. Research process diagram.
The reason for choosing the topic In today's rapidly evolving and fiercely competitive employment landscape, attracting and retaining top-tier talent poses the most significant obstacle for organizations of all sizes and industries. The role of employees within an organization is considered extremely valuable as it is one of the decisive factors for sustainable business development. Especially in the context of increasing global integration, the field of English education in Vietnam is receiving considerable attention. According to the Ministry of Education and Training, the total number of English language centers across the educational system has reached over 2830 centers with 3839 campuses.
With the increasing number of centers, competition in the human resources sector is becoming increasingly challenging, posing a significant challenge for education companies like VUS International Joint Stock Company (VUS) in retaining talent. Several studies have shown that job satisfaction among employees positively impacts job performance and enhances their engagement with the organization (Le, T. To address this challenge, the research project "Factors affecting job satisfaction of employees at VUS International Joint Stock Company (VUS)” aims to understand and evaluate the current level of job satisfaction among employees at the company. Additionally, it seeks to identify the factors affecting this satisfaction, helping the company gain insight into what issues employees are concerned about.
This research also aims to assist the management in selecting labor solutions and proposing appropriate management implications to enhance employee engagement and long-term commitment to the company. Literature review Recently, factors affecting employees' job satisfaction have become a growing interest among scholars and researchers, both in Vietnam and globally. It is believed that job satisfaction is a critical factor that not only impacts working performance 2 (Buntaran et al., 2019) but also affects the business outcomes of a company (Danica Bakotić, 2016). Therefore, it is essential to understand the factors affecting job satisfaction among employees to develop new policies aimed at attracting and retaining talented and excellent employees, while minimizing turnover.
Domestic research of job satisfaction of employees In Vietnam, Nguyen Thi Kim Anh (2010) conducted a research on "Measuring job satisfaction among employees at Fresenius Kabi Bidiphar Vietnam Joint Stock Company". The company specializes in manufacturing and trading pharmaceutical products and healthcare services. This research aimed to: (1) Identify factors affecting job satisfaction among employees in businesses in Binh Dinh province; (2) Measure job satisfaction among employees at Fresenius Kabi Bidiphar Vietnam Joint Stock Company; (3) Examine whether there are differences in job satisfaction among employees based on individual factors (age, genders, education levels, department). In the first part, the research model proposed 8 components: nature of the job, salary, colleagues, leadership, training and development opportunities, working environment, job performance evaluation, and benefits; 8 corresponding hypotheses for each component were developed based on the theory of employee job satisfaction.
The qualitative study was conducted to adjust and supplement observed variables for the scales. The quantitative study involved 200 employees through surveys at businesses in Binh Dinh to build and validate the research model and scales. Factor analysis results yielded a job satisfaction model for employees in businesses in Binh Dinh comprising 5 factors: job performance evaluation, leadership, colleagues, income, and nature of the job, all of which significantly affected employees' job satisfaction. In the second part, the research applied the model and scales from part one to survey 122 employees at Fresenius Kabi Bidiphar Vietnam Joint Stock Company to measure job satisfaction and test differences in satisfaction levels based on individual characteristics.
Compared to the average job satisfaction level in some businesses in Binh Dinh province, there were no differences in the individual factors affecting job satisfaction among employees. 3 Recently, Le Nguyen Doan Khoi and Nguyen Thi Ngoc Phuong (2019) researched "Factors affecting job satisfaction among employees at Tien Giang University." The research objective was to identify factors affecting the job satisfaction of employees working at Tien Giang University. The research was conducted through direct interviews with 131 staff members of Tien Giang University then data was utilized on the SERQUAL service quality measurement scale. The research results revealed five groups of factors affecting employee satisfaction, including: Nature of the job; Salary, bonuses, and allowances; Working relationships; Training and development opportunities; and Working facilities conditions.