UNIVERSITY OF ECONOMICS HO CHI MINH CITY International School of Business ------------------------------ DO TUONG VI COPING WITH STRESS IN THE CARD DEPARTMENT IN BIDV BAC LIEU BRANCH ID: 22130098 MASTER OF BUSINESS ADMINISTRATION SUPERVISOR: Dr. NGUYEN PHONG NGUYEN Ho Chi Minh City – Year 2016 TIEU LUAN MOI download : skknchat@gmail.com COPING WITH STRESS IN THE CARD DEPARTMENT IN BIDV BAC LIEU BRANCH ACKNOWLEDGEMENTS It is my proud privilege to release the feeling of my gratitude to person who helped me directly or indirectly to conduct this research project work. I express my heart full indebted and owe a deep sense of gratitude to Dr. Nguyen Phong Nguyen for his sincere guidance and inspiration in completing this project.
I am extremely thankful to the director, the staffs and all faculties’ members of BIDV Bac Lieu branch for their coordination and cooperation and for their kind guidance and encouragement. They have more or less contributed to the preparation of this project report but I will be always indebted to them. The project has indeed helped me to explore more knowledgeable, related to my job and I am sure it will help me in my future’s career. 2 TIEU LUAN MOI download : skknchat@gmail.com COPING WITH STRESS IN THE CARD DEPARTMENT IN BIDV BAC LIEU BRANCH Contents LIST OF TABLES.
5 LIST OF FIGURES.1 Overview the BIDV Bac Lieu branch .2 Provide the background of the problem .3 Card operation BIDV Bac Lieu branch and competitors .4 Business situation of BIDV Bac Lieu branch and competitors. 14 CHAPTER 2: PROBLEM IDENTIFICATION .2 Impact of stress to job performance .3 Possible causes lead to stress among staffs in the card department .5 Role conflict, role ambiguity and managers do not motivate their employees.6 Work overtime and overload. 29 CHAPTER 3: SOLUTION AND ACTION PLAN. 40 CHAPTER 4: SUPPORTING INFORMATION .1 In-depth interview managers and bank staffs .2 In-depth interview old staffs .3 In-depth interview customers .4 Qualitative Research Report.
67 3 TIEU LUAN MOI download : skknchat@gmail.com COPING WITH STRESS IN THE CARD DEPARTMENT IN BIDV BAC LIEU BRANCH LIST OF REFERENCES. 73 4 TIEU LUAN MOI download : skknchat@gmail.com COPING WITH STRESS IN THE CARD DEPARTMENT IN BIDV BAC LIEU BRANCH LIST OF TABLES Table 1.ATM network of BIDV Bac Lieu branch. The report about employees of BIDV Bac Lieu branch.Expected cost of training bank staffs in two days in HCM city .Expected cost of training bank staffs in two days in Bac Lieu Province .Expected cost of two staffs policies. The basic information of manager, bank staffs and current customers of BIDV Bac Lieu branch.
39 5 TIEU LUAN MOI download : skknchat@gmail.com COPING WITH STRESS IN THE CARD DEPARTMENT IN BIDV BAC LIEU BRANCH LIST OF FIGURES Figure 1.The organizational structure of BIDV Bac Lieu branch .Capital of BIDV and competitors in 2015 .Card’s market share of BIDV and competitors in 2015 .Customer preferred rate of BIDV and competitors in 2015 .The cause-and-effect map. 22 6 TIEU LUAN MOI download : skknchat@gmail.com COPING WITH STRESS IN THE CARD DEPARTMENT IN BIDV BAC LIEU BRANCH EXCUTIVE SUMMARY In today's competitive environment, employees are the bank's most valuable asset. Therefore, how to give employees the best satisfaction, reduce stress and respond promptly to their needs is always the task that banks try to do with all abilities. The literature widely confirm that enhancing employee’s satisfaction and reducing workplace stress can enhance employees job performance.
In this study, reduce stress is a central problem to be solve for improving the job performance and enhancing employees productivity in the card department in BIDV Bac Lieu branch. This study based on desire to learn, explore and determine the actual level of stress of staffs in the card department. Based on interview managers, tellers and customers, this study explored possible causes of stress, through symptoms were justified in the six month period of research. In addition, this study also explored and validated the actual causes of stress in order to provide appraise solutions to this problem.
The study revealed that workplace environment, role conflict, role ambiguity and work over load are the main causes of stress among staffs in the card department in the branch, which in turns, lead to negative consequences (e. poor job performance, burnout, rate of turnover and job satisfaction). The author based on data collected in the works and literature, including primary and secondary to justify the symptoms, the central problem and its consequences and causes. 7 TIEU LUAN MOI download : skknchat@gmail.com COPING WITH STRESS IN THE CARD DEPARTMENT IN BIDV BAC LIEU BRANCH The author also suggested a set of solutions to solve this problem.
The first solution is that a training plan for staffs and leaders who works in the card department. The second solution is that the bank should change its staff’s policy. The author hopes this study can boost the bank’s staff’s performance via reducing stress. 8 TIEU LUAN MOI download : skknchat@gmail.com COPING WITH STRESS IN THE CARD DEPARTMENT IN BIDV BAC LIEU BRANCH CHAPTER 1: INTRODUCTION 1.1 Overview the BIDV Bac Lieu branch Joint Stock Commercial bank for investment and development of Vietnam (BIDV) is one of four commercial state bank of Vietnam.
As a long-established bank, BIDV has funded many investment projects and key economic areas of the country. BIDV has also built the largest enterprise customers, while confirming the implementation of prestigious items, objectives, economic programs and social security of the country. BIDV operations in many different fields: bank, insurance, stock, financial investments. The main objective of BIDV is gained profit based on the provision financial products and services.
BIDV has experienced with a leading in bank of finance services, brokerage, loan syndication and advisory, modern, convenient banking products. BIDV aims to provide premium, international standard financial products and services tomeet its clients' diverse needs. BIDV has been awarded with the honorable titles “Best retail bank of Vietnam in 2016” and bank with “Best Mortgage and Home Loan Product in Vietnam in 2016”.The awards were presented by the Asian Banker Reviews, an independent consultant unit which reviews and evaluates performance of retail banks in the region, Asia-Pacific, the Middle East, and Africa. Joint Stock Commercial bank for investment and development of Vietnam –Bac Lieu branch has abbreviation: BIDV Bac Lieu and its headquartered located at 169A, 23- 8 Street, Ward 8, Bac Lieu City.
It has seven offices:three offices in Bac Lieu city and four offices in Gia Rai, Phuoc Long, Hoa Binh town.In 1997, BIDV Bac Lieu branch officially was inaugurated and operated. 9 TIEU LUAN MOI download : skknchat@gmail.com COPING WITH STRESS IN THE CARD DEPARTMENT IN BIDV BAC LIEU BRANCH Appearing at Bac Lieu almost twenty years, BIDV have efforts to improve the quality of products and services. It also has big impact to Bac Lieu’s economic growth. In order to provide the best service for customers, BIDV Bac Lieu has focused on four specific action programs, which are credit effectiveness, increase retail baking, promoting service quality and cost control.The organizational structure of BIDV Bac Lieu branch General Director Vice director Vice director Vice director Customer Managemen Administrative Transaction Hoa Ho Tran Phuoc service t and service & Human offices & Binh Phong Phu Long department Resource business Department points system Accounting Technical General Business Management Tran Gia Hoang Retail department & IT planning credit &support Huynh Rai Van credit support department department credit Thu department department department (Source: Administrative & human resource department of BIDV Bac Lieu Branch) 10 TIEU LUAN MOI download : skknchat@gmail.com COPING WITH STRESS IN THE CARD DEPARTMENT IN BIDV BAC LIEU BRANCH 1.2 Provide the background of the problem In order to understand the problems BIDV Bac Lieu branch is facing, the author collects some data about BIDV Bac Lieu.
Before May 2016, the branch had 95 employees. Eighteen percent of them are customer-direct staffs. They work in customer service department and four transaction offices. One-third customer-direct staffs work in card department and responsible for card, ATM operations, in which eighty percent of them were female.
Card department facedchallenges in 2015 such as: many card errors, increase in customers’ complaints, high absent rate, high turnover rate, etc. From 1st, May 2016, after merging with MHB Bac Lieu branch, the branch has 149 employees. There are two more staffs for card department. However, the staffs still work under high pressure to complete their works.
Moreover, to become the leader in debit and credit card in province, staffs in the branch need to work harder and suffer to achieve target. Thus, level of stress among employees increased day by day, out of control. Until now, the market share of bank services, especially raise capital, credit and retail banking, is occupying with medium rate compared to rivals in this area and its revenue is just middle in the categories of services in the bank.3 Card operation of BIDV and competitors Following the general trend of Vietnam banking industry, BIDV also had high profit indicators in 2013, 2014 and 2015. Competitors of BIDV include both Vietnamese and foreign banks at Vietnamese market also have high profit and capital.
Customers have increasingly choices in finding solutions to their financial problems. 11 TIEU LUAN MOI download : skknchat@gmail.com COPING WITH STRESS IN THE CARD DEPARTMENT IN BIDV BAC LIEU BRANCH The factors such as size of bank, total asset and availability of large branch network have a great influence in customers’ choice of bank. Based on the charter capital at the latest time, BIDV is one of four biggest banks in Vietnam. These banks are classified in-group big capital size group, that with a chartered capital from 615.
These banks have the operating duration more than twenty years at Vietnamese market. They have their own achievements and valuable prizes.Capital of BIDV and its competitors in 2015 (Unit: Billion) 900,000 800,000 700,000 BIDV 600,000 500,000 VCB 400,000 300,000 Agribank 200,000 100,000 Viettin bank 786,161 615,575 833,937 710,691 0 Charter capital (30/09/2015) (Source: cafef.vn) These banks not only have the similar capital but also are strong on retail banking services. Now, they increasingly focus on individual customer’s services and card 12 TIEU LUAN MOI download : skknchat@gmail.com COPING WITH STRESS IN THE CARD DEPARTMENT IN BIDV BAC LIEU BRANCH operations. In 2015, Vietnam market there are about 80.3 million cards and BIDV have the smallest market share to compare with competitors.
Overall, the card operation of BIDV increases from year to year and tries to increase market share in the future. After more than fifty years, BIDV continues to increase in both capital assets and resources. In order to adapt withthe competitive environment, in June 2015, BIDV achieved chartered capital of 786. At present BIDV issued about 8.
BIDV set the strategy for 2015 such as continued effective and multi-functional operation, provided the best service for corporations, invested in retail banking and network development.Card’s market share of BIDV and competitors in 2015 CARD'S MARKET SHARE IN 2015 22.7 Vietin bank Agribank VCB BIDV Dong A Other Banks (Source:cafef.vn) 13 TIEU LUAN MOI download : skknchat@gmail.com COPING WITH STRESS IN THE CARD DEPARTMENT IN BIDV BAC LIEU BRANCH 1.4 Business situation of BIDV Bac Lieu branch and competitors According to the forecast ofBac Lieu state bank and economic experts, 2015 will be the year that most of the banks will have a good profits as well as retail banking growth. Competitors (VCB and Dong A bank) were respectively announced the positive results in retail banking compared to their plan. However, whether the result is due to BIDV Bac Lieu set too high targets for employees or it really facing a real problem in business, especially in card operations. Therefore, the author continues to compare BIDV Bac Lieu card operation figures, based on evaluate of customer with its business rivals.Customer preferred rate of BIDV and competitors in 2015 Preferred 66.17 0 BIDV VCB Dong A Vietinbank Agribank (Source: cafef.vn) 14 TIEU LUAN MOI download : skknchat@gmail.