ĐẠI HỌC QUỐC GIA HÀ NỘI KHOA QUẢN TRỊ VÀ KINH DOANH --------------------- NGUYỄN THU TRANG IMPROVING TELLER’S MOTIVATION AT JOINT STOCK COMMERCIAL BANK FOR INVESTMENT AND DEVELOPMENT OF VIETNAM (BIDV) – SGD1 BRANCH NÂNG CAO ĐỘNG LỰC LÀM VIỆC CHO GIAO DỊCH VIÊN TẠI NGÂN HÀNG TMCP ĐẦU TƯ VÀ PHÁT TRIỂN VIỆT NAM – CHI NHÁNH SGD1 LUẬN VĂN THẠC SĨ QUẢN TRỊ KINH DOANH HÀ NỘI - 2020 LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com ĐẠI HỌC QUỐC GIA HÀ NỘI KHOA QUẢN TRỊ VÀ KINH DOANH --------------------- NGUYỄN THU TRANG IMPROVING TELLER’S MOTIVATION AT JOINT STOCK COMMERCIAL BANK FOR INVESTMENT AND DEVELOPMENT OF VIETNAM (BIDV) – SGD1 BRANCH NÂNG CAO ĐỘNG LỰC LÀM VIỆC CHO GIAO DỊCH VIÊN TẠI NGÂN HÀNG TMCP ĐẦU TƯ VÀ PHÁT TRIỂN VIỆT NAM – CHI NHÁNH SGD1 Chuyên ngành: Quản trị kinh doanh Mã số: 60 34 01 02 LUẬN VĂN THẠC SĨ QUẢN TRỊ KINH DOANH NGƯỜI HƯỚNG DẪN KHOA HỌC: TS. TRẦN KIM HÀO HÀ NỘI - 2020 LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com DECLARATION The author confirms that the research outcome in the thesis is the result of author’s independent work during study and research period and it is not yet published in other’s research and article. The other’s research result and documentation (extraction, table, figure, formula, and other document) used in the thesis are cited properly and the permission (if required) is given. The author is responsible in front of the Thesis Assessment Committee, Hanoi School of Business and Management, and the laws for above-mentioned declaration.
LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com ACKNOWLEDGEMENT I would like to send my sincere thanks for the help and support of parents, lecturers, family, friends, and colleagues, all of whom helped me complete this study. Particularly, I would love to send my gratitude toward the following significant advisors and contributors: I would like to extend my warmest thank to Tran Kim Hao for his support and encouragement. He spent much time on reading my research and offering invaluable detailed advices on grammar, organization, and the theme of the study. Second, I would like to thank all lecturers from HSB-MBA for advising much valuable intellectual knowledge during the course.
I would like to thank my classmates for their provision of valuable advices. I also would like to thank my colleagues, tellers and managers at BIDV – Transaction Center 1, managers for their help and support to complete this thesis. LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com CONTENT INTRODUCTION. Aims of research.
Objects of research. Scope of research. 4 CHAPTER 1: THEORETICAL BACKGROUND ON EMPLOYEE MOTIVATION. Overview of employee motivation.
Definition of employee motivation. Nature of employee motivation. Factors impacting employee motivation. Theories on employee motivation.
Employee motivation in banking sector. Employee motivation experience in some banks. Employee motivation experience of Technology and Commercial Joint Stock Bank. LienViet Post Joint Stock Commercial Bank (LienVietPostBank).
Lessons drawn in terms of employee motivation in BIDV – Transaction Center 1. 24 CHAPTER 2: ASSESSING THE SITUATION OF TELLER’S MOTIVATION AT BIDV – TRANSACTION CENTER 1 .1 Introduction of BIDV - Transaction Center 1. 26 LUAN VAN CHAT LUONG download : add luanvanchat@agmail.1 History and development of BIDV - Transaction Center 1 .2 Human resources of BIDV - Transaction Centehr 1. Job description and human policies applied for tellers at BIDV - Transaction Center 1.
Analyzing current employee motivation at BIDV - Transaction Center 1. Demographic data of respondents. Analyzing current employee motivation at BIDV - Transaction Center. Summary of finding of tellers’ motivation at BIDV - Transaction Center 1.
Overall assessment of tellers’ motivation at BIDV - Transaction Center 1. Limitations and possible causes. 65 CHAPTER 3: PROPOSAL ON SOLUTION FOR IMPROVING TELLER’S MOTIVATION AT BIDV – TRANSACTION CENTER 1. Development orientation of BIDV - Transaction Center 1.
General business development. Development orientation of human resources. Recommendations to improve tellers’ motivation at BIDV - Transaction Center 1 72 3. Increasing income for staffs.
Supplementing more promotion opportunities and better policies for tellers. Improving working conditions by dividing work into many shifts to reduce working time for tellers. 83 LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com ABBREVIATION ATM Automatic Teller Machines BSNEU National Economics University Business School Dept. Department EFA Exploratory Factor Analysis HR Human resource HRD Human Resource Department Techcombank Vietnam Technological and Commercial Joint stock bank VND Vietnam Dong LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com LIST OF FIGURES Figure 1.1: Herzbergs Two-Factor Theory of Motivation.2: Maslow's Hierarchy of Needs .3: Proposed model of employee motivation for tellers at BIDV - Transaction Center 1 .1: Organizational structure of Transaction Center 1 .2: Gender of tellers at BIDV - Transaction Center 1 .3: Maritualstatus of tellers at BIDV - Transaction Center 1 .4: Age of tellers at BIDV - Transaction Center 1 .5: Education of tellers at BIDV - Transaction Center 1 .6: Major of tellers at BIDV - Transaction Center 1 .7: Seniority of tellers at BIDV - Transaction Center 1 .8: Work itself of tellers at BIDV - Transaction Center 1 .9: Salary of tellers at BIDV - Transaction Center 1 .10: Salary for staff at banks in Vietnam .11: Working conditions of tellers at BIDV - Transaction Center 1 .12: Promotion of tellers at BIDV - Transaction Center 1 .13: Training and development of tellers at BIDV - Transaction Center 1 .14: Direct supervisionof tellers at BIDV - Transaction Center 1.15: Overall work motivation of tellers at - BIDV - Transaction Center 1.
61 LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com LIST OF TABLES Table 2.1: Staff’s qualification at BIDV - Transaction Center 1.2: Staff’s gender at BIDV - Transaction Center 1 .3: Staff’s age at BIDV - Transaction Center 1 .4: Staff’s seniority at BIDV - Transaction Center 1 .5: Work itsefl of tellers at BIDV - Transaction Center 1 .6: Salary of tellers at BIDV - Transaction Center 1 .7: Working conditions of tellers at BIDV - Transaction Center 1 .8: Promotion of tellers at BIDV - Transaction Center 1 .9: Training and development of tellers at BIDV - Transaction Center 1 .10: Direct supervision of tellers at BIDV - Transaction Center 1 .11: Overall work motivation of tellers at BIDV - Transaction Center 1 .12: Overall assessment of tellers’ motivation at BIDV - Transaction Center 1. 63 LUAN VAN CHAT LUONG download : add luanvanchat@agmail. Rationale In the market economy, businesses if wishing to survive and develop, in addition to the infrastructure is fully equipped with modern and advanced ones, need to maximize human resources because people are the most important factor for business success. Having a team of loyal and dedicated people for business is thing any leaders want to achieve.
However, in fact, there is now common phenomenon is that employees often move another job, they do no longer work with the business. After a period of inadequate sense, they will find new job. This considerably influences the organizational structure as well as the company’s direction of business development. There are many reasons leading to this situation, one of the important reasons is that the company has not satisfactorily fulfilled the compensation, working conditions.
which cannot stimulate and create motivation to work for them. Finance - Banking is a key area in the economy. Therefore, employees in such industry are passionate, creative, dynamic and always have to adapt to change. Over the years, Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) always strives to maintain its leading position, of which the bank is considerably contributed by the staffs.
Banking sector is one of the particular sectors since the quality of products and services depends mainly on suppliers and staffs directly serving for customers. More than 60 years of establishment and development, up to now, BIDV is one of the three biggest joint stock banks in Vietnam. BIDV is not only famous for its great development in technology, successfully rapid growth, a large number of customers, it also possesses more than 24,000 officials and staffs in more than 180 branches and over 800 transaction offices. Transaction center is one of the Top biggest branches of BIDV.
Of which, position of tellers in BIDV in particular and in banks in Vietnam in general is very necessary and important. Every day, they have to contact with customers to receive requests, handle transactions and record all transactions related to cash transactions, checks, savings, transfer, foreign currency exchange, account opening. arising at the counter. Every teller has the role of a salesman and introduces a cross-service, while also creating an image, brand and excellent service quality of a bank; thereby helping banks raise capital and interests.
However, nowadays rate employee turnover in teller position in BIDV in general and in this branch in particular is quite high, approximately 22%. Most of 1 LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com tellers must work hard within more than 8 hours per day (usually before 8 a.m); meanwhile their income is much lower than other positions in the bank and they seem not to be given the appropriate promotion and development opportunities. These are the main reasons of demotivating at work of employees. For many above reasons, the author decided to choose the topic “Improving Teller’s motivation in BIDV – Transaction Center 1” with an aim of analyzing the current situation of BIDV’s tellers at the Transaction Center 1 and then recommending solutions for improving their motivation at work and reducing intention turnover in teller position.
Literature review Studying about employee motivation in the banks in Vietnam and in the world, there have been many researches conducted with the aim of helping the bank improve their employee motivation. We can mention some following researches: The article “The 1977 quality of employment” supposed, when people spend much time for work, their understanding about factors influencing on their working motive and motivation in their work is very important for improvement. According to Andrew Oswald, in his 2001 book, "Are you happy at work," the working motivation of people is the degree to which employees enjoy their work and the attitude based on the perception of the employees (positive or negative) about their job or working environment. Simply, the better the working environment meets demands, desires, values and characters of employees, the higher employees get working motive and motivation.
In 2007, Boeve studied about “Factor creating motivation for teachers in faculty of assistant doctors in medical schools in the US” on basis of Herzberg theory and job description indicator of Smith, Keendall & Hulin. He divided motivation factors into two group such as internal factors: nature of work and opportunities training and promotion and external factors: salary, support of senior managers and relationship. In June, 2010, Quang Truong, Beatrice JIM and Chris Rowley showed their viewpoint and research results on human government in Vietnam in the research “Globalization, competition and human government in transition economy: The Case of Vietnam”. According to the article, companies in Vietnam generally only have a General Administration Office in charge of administration and personnel management.
Typically, this department focuses solely on paperwork or human resource management but not on major human resources decisions such as planning, recruiting, training and developing and retaining qualified employees. 2 LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com Bui Thi Minh Hong (2015) studied about “Improving employee motivation in Vietnam Technological and Commercial Joint Stock bank – Thang Long Branch”. The research focused on clarifying general theoretical framework on employee motivation, analyzing current employee motivation in Thang Long Branch through studying personnel documents of the Branch and questionnaires; thereby proposing solutions to improve the employee motivation for the employees in the whole Branch.