INTRODUCTION
Background
The retention of bankers is crucial for achieving an organization's goals and objectives In recent years, Vietnam's banking system has seen significant growth, with an increase in the number of credit institutions and a diversification of ownership and banking services Currently, the banking sector has reached a notable level of development.
Vietnam's banking sector, comprising 52 local commercial banks, 51 foreign bank branches, and 31 non-bank credit institutions, plays a crucial role in the economy This sector has experienced significant growth and has been instrumental in ensuring the country's stable development.
Local commercial banks in Ho Chi Minh City have evolved alongside Vietnam's economic development, initially growing slowly without a strong focus on human resource management (HRM) However, the past five years have seen remarkable growth, with the establishment of an extensive branch network and an increase of over 20,000 bankers, reflecting an annual growth rate of more than 15% As these banks stabilize, there is a pressing need to enhance HRM practices, which have remained outdated The management is currently grappling with a significant challenge: an employee turnover rate of approximately 9.5% per year over the last three years (Asia Banker Forum, 2011) In response, the banks are launching a reform campaign aimed at modernizing their HRM systems to boost efficiency, increase labor productivity, and implement better retention policies for their workforce.
Banks recognize that professional bankers are crucial for competitiveness in the banking sector, posing a potential risk to the long-term success of businesses Consequently, they are exploring strategies to retain skilled staff and address their work-related needs effectively.
Problem statements
Bank management recognizes the vital importance of a skilled workforce and is actively working to attract and retain talent through salary increases, comprehensive training programs, career advancement opportunities, and incentive trips for top performers Despite these initiatives, the turnover rate remains unexpectedly high This raises questions about the underlying reasons for continued turnover, the specific demands of bankers, and the level of job satisfaction among employees Understanding the relationship between job satisfaction and employee retention is crucial to addressing these challenges.
Literature on human resource management offers insights into employee retention challenges, highlighting the importance of factors such as salary, promotion opportunities, motivation, recognition, and a positive working environment To effectively address these issues, organizational leaders must delve deeper into how good relationships with managers and colleagues, along with a strong corporate culture, impact employee satisfaction and retention Understanding these critical factors is essential for developing effective retention strategies in the current socio-economic context.
The management board gains valuable insights into human resource management (HRM) in Vietnam, equipping managers with targeted strategies to effectively retain talented bankers.
Research objectives
In response to the above stated problems, this research is conducted with below aims:
Determine quantitatively antecedent factors and their relative contributions to the overall satisfaction of bankers in the local commercial banks.
Estimate the impact of job satisfaction on the retention (intent to stay) of bankers in the field.
Scope of study
Given the limited resources and time, the empirical data for the research were collected from the commercial banks in Ho Chi Minh City.
Examinees on this study include senior-officers, supervisors and managers and who achieved bachelor, master degree and higher degree.
Only work – related factors will be investigated in this study Other possible factors (e.g social or cultural factor) are beyond the scope of this study.
Thesis structure
This thesis is organized as follows:
Chapter 1 presents the research background, problem statements, research objectives, scope of study and thesis structure.
Chapter 2 introduces research model and its hypotheses as well as its literature review.
Chapter 3 illustrates the methodology conducted in this paper.
Chapter 4 presents research results is based on data collected.
Chapter 5 summarizes the research results, provide the findings and recommendations.
LITERATUE REVIEW
Maslow’s hierarchy of needs
Maslow's hierarchy of needs is one of the earliest and most recognized theories of individual motivation, relevant to the current study According to Maslow, every human being has a hierarchy of needs that must be fulfilled.
Physiological needs: related to essential factors to survival, such as food, water, and shelter In organization, these needs are mainly presented as monthly salary.
Safety needs: related to security, safety in workplace and life At this level, the individual strives to look for or form the safe environment from external dangers.
In organization, these needs are presented via hygiene factors, long-term contribution, social and medical insurance policies…
Social needs: related to relationship with people, being member of teamwork,being loved In organization, these needs are identified by colleague relationship,leader relationship….
Esteem is a crucial factor that influences feelings of self-worth and individual importance, highlighting the need for respect in both workplace and daily life Organizations often recognize this need by offering incentives such as rewards, bonuses, and promotions to motivate employees and foster a positive work environment.
Self-actualization: at the top of the hierarchy, the motivator is a sense of fulfillment that allows individual to maximize their own growth and contribute.
In organization, these needs are satisfied by opportunities of training, development and innovation.
Once each of these needs is satisfied, the individual moves up to the higher level of the hierarchy.
Table 2.1: Maslow’shierarchy of needs
Retention
In the last ten years, effective management and development of employees have emerged as key contributors to enhanced organizational performance This shift is encapsulated in the widely recognized saying, "people are our most important asset." Research highlights that successful organizations prioritize their workforce, recognizing that employee engagement and development are crucial for achieving overall success.
Out Of The Field Need Implemented
Education, religion, habit, individual development
Opportunities of training, promotion, creativity, development
Acceptance of family, friend, community Esteem
Recognition, high position, increasing responsibility
Family, friend, community Being loved, being member of team
Team working, colleague, supervisor, customer
Organizations must prioritize the safety and well-being of their employees, addressing concerns such as war, pollution, and conflict A fundamental philosophy of valuing and investing in human resources is essential for long-term job security and benefits, including fair wages and a conducive work environment Studies have shown that effective human resource management can lead to a competitive advantage, highlighting the importance of retaining core employees for organizational success.
Retention strategies aim to minimize employee turnover for avoidable reasons, ensuring that organizations maintain a skilled and experienced workforce (Stucberry, 2003) Retaining employees is complex, influenced by various factors that determine their commitment to the organization To effectively retain staff, organizations must identify and understand these key factors that motivate employees and regularly assess job satisfaction levels among their workforce.
Many organizations still face challenges with employee retention, often relying solely on salary increases and bonuses to reduce turnover Effective management of core employees involves understanding and addressing their needs Employees come to work with various aspirations and hopes, seeking an environment where their skills can be utilized and their fundamental needs met.
Job satisfaction and organizational commitment are central variables in various turnover models, as highlighted by Steele (2002), with much of the research primarily focusing on job satisfaction, as noted by Porters and Steers (1973).
Job satisfaction plays a crucial role in employee retention, exerting a strong direct influence on an individual's decision to stay with an organization It is a subjective emotional evaluation that employees make, either consciously or unconsciously, resulting in a pleasurable or positive emotional state stemming from their job experiences Comprising multiple facets, including satisfaction with work, salary, promotion, and colleagues, job satisfaction is a multidimensional concept that significantly impacts an employee's overall attitude towards their job.
Job satisfaction plays a crucial role in employee retention, as numerous studies indicate a positive correlation between the two (Koslowsky, 1991; Hom and Griffeth, 1991) Employees who experience high levels of job satisfaction are more likely to attend work regularly and perform at their best (Porters and Steers, 1973) Consequently, organizations that prioritize job satisfaction can enhance employee loyalty and reduce turnover rates.
H1: There is a positive impact of job satisfaction on the retention of bankers.
Job satisfaction and antecedent factors
Job satisfaction refers to an employee's overall positive attitude towards their job, reflecting how much they enjoy their work It encompasses the perception of the work environment and the fit between the individual and the organization When employees' intrinsic and extrinsic needs, values, and personal characteristics are met, their level of job satisfaction increases significantly.
Recent studies highlight that job satisfaction encompasses two main aspects: overall job satisfaction and satisfaction with specific job components It serves as a key indicator of an organization's health, influenced by various situational characteristics and emotions related to work Smith et al (1996) created the Job Descriptive Index (JDI) to measure job satisfaction, which has been utilized in over 600 studies over two decades, although it has faced criticism for its complexity and imperfections (Buffum and Konick, 1982) Some researchers have adapted the scale for specific contexts (Crossman and Bassem, 2003; Trần Thị Kim Dung, 2005) This study proposes seven factors as antecedents of job satisfaction: work challenge, training and promotion opportunities, leadership support, colleague relationships, salary, benefits, and work environment.
Additionally, organizational and individual characteristics are included into the model as moderating factors (age, gender, organization ownership and organization size).
To foster job satisfaction and retain talent, organizations must provide employees with challenging assignments that leverage their personal skills and capacities Creative challenges stimulate excitement in the workplace, and without them, employees may seek opportunities elsewhere Clear performance measures and constructive feedback are essential in a high-performance environment, enabling individuals to achieve personal objectives (Furnham, 2002) Additionally, the pursuit of mastering new skills contributes to employee satisfaction and innovation (Ferguson, 1990; Walker, 2001) Employees also prefer roles with diverse responsibilities and tasks, as this not only enhances their skill set but also strengthens their resumes for future job opportunities (Jardine and Amig).
Organizations that fail to provide employees with challenging and engaging work, creative freedom, and opportunities for skill development often experience negative employee sentiment and diminished loyalty As a result, employees in these environments tend to exhibit negative attitudes, lower commitment levels, and a higher propensity to leave the organization.
H2 There is a positive impact of work challenge on job satisfaction
Employees perceive training and promotion opportunities as crucial for their personal and professional growth, aligning with the concept of human capital investment, where firms or individuals invest in enhancing skills and knowledge Effective training programs enable employees to acquire new skills, apply them to their current roles, and share expertise with colleagues, ultimately leading to improved job performance By participating in training courses, employees can develop specific skills, address performance deficiencies, and prepare for future organizational needs, highlighting the importance of training and development in career advancement.
Skill development encompasses enhancing basic literacy, technological skills, interpersonal communication, and problem-solving abilities Training and promotion signify an employer's commitment to their staff and can reduce turnover rates This approach reflects an organizational strategy focused on adding value rather than merely cutting costs Leading companies recognize that offering a wide range of career and skills development opportunities is essential for attracting and retaining a flexible, technologically adept workforce necessary for success in the digital economy.
H3: There is a positive impact of the training and promotion opportunities on job satisfaction
Leadership support plays a crucial role in the relationship between employees and leaders, encompassing the leader's behavior, management skills, and overall support Researchers define leadership through four essential tasks: providing orientation, ensuring alignment, building commitment, and addressing adaptive challenges (Risher and Stopper, 2002) Leaders are pivotal in developing cultures, systems, and structures that enhance knowledge creation and sharing (Bryant, 2003) Numerous studies indicate that effective leadership styles significantly boost follower motivation, commitment, and overall organizational performance (Bryman, 1992; Elby et al., 1999; Podsakoff and Steyrer, 1998) The positive influence of leaders on organizational outcomes is well-documented, resulting in reduced turnover intentions and improved organizational behavior, which fosters stronger commitment and a higher intention for employees to remain with the organization (Alimo-Metcalfe and Alban-Metcalfe, 2001; Pillai, Shreissheim, and Williams, 1999; Yammariono and Bass, 1990).
(Alimo-Metcalfe and Alban-Metcalfe, 2001; Podsakoff et al., 1996) Therefore, based on the literature review, the hypothesis is:
H4: There is a positive impact of leadership support on job satisfaction
Colleague relationships play a crucial role in workplace dynamics, influencing teamwork and overall job satisfaction Defined as an individual's behavior that fosters unforced influence in guiding group activities toward shared goals, supportive interactions among colleagues enhance emotional well-being and provide essential support amid workplace stresses Strong relationships with coworkers significantly contribute to employee retention, as organizations increasingly prioritize team building and collaborative projects Employees engaged in teamwork exhibit heightened commitment to their work units and the organization, leading to a greater likelihood of staying with the company Thus, cultivating positive colleague relationships is essential for fostering a committed and stable workforce.
H5: There is a positive impact of colleague relationship on job satisfaction
Salary plays a crucial role in employees' perceptions of fairness and is closely linked to job satisfaction Many managers view salary as a key factor in employee retention, as individuals often leave organizations for better pay or compensation (Mathis and Jackson, 2003) Furthermore, salary significantly influences motivation to perform (McCallum, 1998) While motivational theories like expectancy and equity have highlighted how variations in pay can affect motivation (Das, 2002), in practice, salary is often regarded as just one of several outcomes and is frequently assessed with limited accuracy.
A fair salary is essential for the relationship between employees and employers, as it is believed to influence behavior (Mitchell and Mickel, 1999; Parker and Wright, 2001) Psychological theory highlights that fairness is a fundamental need for employee well-being and satisfaction (Blau, 1989) Consequently, employees who feel they are compensated fairly are more likely to experience higher job satisfaction and remain with their organization This research aims to test this hypothesis.
H6: There is a positive impact of salary on job satisfaction
Employee benefits, often referred to as fringe benefits, include rewards such as medical insurance, healthcare policies, and accident insurance, which employees receive as part of their organizational membership Unlike salaries and performance-based incentives, these benefits are not directly tied to employee performance (Byars and Rue, 2000) Comprehensive benefit packages enhance employee commitment to the organization and decrease the likelihood of seeking alternative job opportunities (Mitchell et al., 2001) According to Rusbult and Farrell's (1983) commitment model, inadequate benefits significantly contribute to low job satisfaction and increased employee turnover intentions Additionally, portable benefits like contribution pensions help alleviate the anxiety associated with job transitions and foster greater job satisfaction.
H7: There is a positive impact of benefits on job satisfaction
The working environment significantly impacts employee motivation, attitude, and performance, with inadequate equipment and insufficient training identified as key organizational obstacles that can diminish job satisfaction Research indicates that work overload leads to employee strain, tension, and job dissatisfaction, ultimately reducing organizational commitment and increasing turnover rates High workloads are associated with negative outcomes such as absenteeism and low job satisfaction, as highlighted by Fox et al (1993) Furthermore, Spector and Jex (1998) emphasize that excessive workloads can trigger feelings of anxiety and frustration among employees.
So, this research tests the hypothesis that:
H8: There is a positive impact of work environment on job satisfaction.
Moderating factors
This study examines the moderating affects of organization characteristics and demographics on the impacts of job satisfaction on retention.
Older employees often face fewer job change opportunities and can be more expensive to hire compared to their younger counterparts However, they tend to exhibit higher levels of organizational commitment and are more adept at aligning their personal needs with the goals of the organization.
Research indicates that job satisfaction is influenced by gender differences, though findings are inconsistent Women often face more obstacles than men in the workplace and experience unfair treatment regarding personal issues.
Ownership type significantly influences job satisfaction, with research indicating that employees in state organizations enjoy more benefits than their counterparts in private sectors These advantages include long-term employment, comprehensive benefits, medical insurance, and reduced workload and stress levels (Truong Van Ban, 1996; Vo Dai Luoc, 1997), leading to higher job satisfaction rates This trend is particularly evident in transitioning economies like Russia, China, and Vietnam (Carl, Elbert et al., 1995) In Vietnam, state-owned organizations generally operate on a larger scale and utilize more advanced banking technologies compared to private firms.
Organization size: similarly, the big-scale organizations are more attract and retain employees than that small ones.
Thus, the hypothesis will be:
H9: The impacts of antecedent factors on job satisfaction are moderated by demographics and organization characteristics such as age, gender, organization size, organization ownership
The antecedent factors that have been hypothesized to have influences on job satisfaction and retention are illustrated in the following model:
H1: There is a positive impact of job satisfaction on the retention of professional bankers.
H2: There is a positive impact of work challenges on job satisfaction.
H3: There is a positive impact of opportunities of training and promotion on job satisfaction.
H4: There is a positive impact of leadership support on job satisfaction.
H5: There is positive impact of colleague relationships on job satisfaction.
H6: There is a positive impact of salaries on job satisfaction.
H7: There is a positive impact of benefits on job satisfaction.
H8: There is a positive impact of working environment on job satisfaction.
H9: The impacts of antecedent factors on job satisfaction are moderated by organization/employee characteristics such as age, gender, organization size, organization ownership.
Summary of hypotheses
H1: There is a positive impact of job satisfaction on the retention of professional bankers.
H2: There is a positive impact of work challenges on job satisfaction.
H3: There is a positive impact of opportunities of training and promotion on job satisfaction.
H4: There is a positive impact of leadership support on job satisfaction.
H5: There is positive impact of colleague relationships on job satisfaction.
H6: There is a positive impact of salaries on job satisfaction.
H7: There is a positive impact of benefits on job satisfaction.
H8: There is a positive impact of working environment on job satisfaction.
H9: The impacts of antecedent factors on job satisfaction are moderated by organization/employee characteristics such as age, gender, organization size, organization ownership.
RESEARCH METHOD
Research procedure
The research follows the procedure illustrated in Figure 3.1
Measurement scales
Participants in the study completed a survey using a five-point Likert scale, where 1 indicated total disagreement, 2 represented disagreement, 3 signified neutrality, 4 indicated agreement, and 5 represented total agreement.
Research method Collecting data Data analysis
Secondary data from previous study
Primary data from questionnaires/ interviews
Result leave surely, 2 equals leave, 3 equals unclear intention, 4 equals stay, 5 equals stay surely Age was divided into 4 groups and coded such those 1 equals under
In the study, age groups were categorized as follows: 1 for individuals aged 31 to 40 years, 2 for those aged 41 to 50 years, and 3 for individuals over 50 years Gender was represented by the code 1 for male and 2 for female Ownership types were classified with 1 indicating state ownership and 2 denoting private or other ownership forms The number of staff was segmented into four groups, coded as 1 for organizations with 20 to 50 staff, 2 for those with 51 to 100 staff, and 3 for entities employing 101 to 200 staff.
The scales for eight constructs in the model were developed based on established studies, tailored to the specific context of the banking industry in Vietnam Utilizing multiple item scales, the research employed a five-point Likert type format to gather data effectively.
Accordingly, the items and sources of reference for each scale are presented inTable 3.1.
Table 3.1: Summary of scales for 8 constructs in the model
Your current work is enjoyable Your current work has a lot of challenges Your work allow to use personal skill well Your work need high responsibility
Kim Dung, 2005 Fegusion, 1990 Walker, 2001 Scale from 1( total disagree) to
Your salary is competitive within the industry, allowing you to comfortably support your lifestyle It reflects your performance and contributions, ensuring that your compensation is fair and commensurate with your work results.
Kim Dung, 2005 Mathis and Jackson, 2003 Parker and wright, 2001 Scale from 1(total disagree) to
Company has good policies of benefit Company has good policies of health and medical insurance
Company has subsidized policies to personnel’s difficult situations
Kim Dung, 2005 Scale from 1(total disagree) to
Work strain is low Part time working is very rare Workplace is clean and comfortable Long-term employment is stably secured Working equipments are enough and safe
Kim Dung, 2005 Scale from 1(total disagree) to
Sup1 Sup2 Sup3 Sup4 Sup5 Sup6 Sup7 Sup8
A superior consistently engages in discussions about relevant work matters, fostering an environment where you are encouraged to contribute to important decisions You are clearly aware of your working responsibilities and understand how your superior evaluates your performance and fulfillment of those duties.
Superior always support you on the work’s difficulty You are respected and trusted on work
Superior’s behavior is courteous You are treated fairly and indiscriminately
Kim Dung, 2005 Scale from 1(total disagree) to
Opportunities of training and promotion
Pro1 Pro2 Pro3 Pro4 Pro5 Pro6
You are known promotion conditions Company gives you a lot of promotion chances Company has fair promotion policies
You are trained essential knowledge and skill on work Company give you many chances of personal development Company help you developing professional
Kim Dung, 2005 Scale from 1(total disagree) to
Job2 Job3 Job4 Job5 Job6 Job7
I genuinely enjoy working with the company and have developed a strong fondness for it I am satisfied with my current role, as it aligns well with my skills and aspirations The company provides an ideal environment for my professional growth, and I have no intention of leaving anytime soon.
You want to build company prestige You are trying to fulfill company work well
Hilb, 2003 Scale from 1(total disagree) to
The intentions of employees regarding their future with the company remain unclear, with some expressing a desire to stay long-term while others indicate a likelihood of leaving within the year This ambiguity highlights the need for the company to address employee engagement and retention strategies effectively.
Hilb, 2003 Scale from 1(total disagree) to
Method of data collection
A survey was conducted involving 250 bankers from various commercial banks in Ho Chi Minh City, encompassing a diverse range of respondents, including both male and female participants of different age groups The survey included employees from state-owned banks, private banks, limited banks, and foreign bank branches, representing both large-scale and medium-scale financial institutions within the city.
The respondents in this study are highly qualified individuals, including senior officers, supervisors, and managers, who possess bachelor’s, master’s, or higher degrees They are employed in key departments such as Loan, Trade, Remittance, Card, Teller, Cashier, Accounting, and Deposit.
- In-depth interview: to get qualitative data from bankers at commercial banks in
Ho Chi Minh City The results were used as additional inputs into the process of questionnaire design.
- Questionnaire: using quantitative/structured questions to measure various constructs in the model in order to empirically test the hypotheses.
The interview process involved face-to-face discussions focused on job satisfaction, exploring factors that contribute to employee satisfaction or dissatisfaction, as well as identifying aspects of work that are most appealing to them The insights gathered from these interviews informed the development of a revised questionnaire design.
Data collection process: 250 questionnaires were delivered via email, colleagues, and majority of questionnaires sent to Human Resource Department in selected commercial banks directly The response rate is 76% or
A total of 190 respondents participated in the survey, indicating a positive response despite the unfamiliarity of commercial banks in Ho Chi Minh City with such studies After filtering the data, several questionnaires were discarded due to missing values, resulting in a final sample of 160 completed questionnaires.
Method of analysis
Descriptive and inferential statistics (Cronbach Alpha, EFA, Correlation, Multiple regression analysis) using SPSS software package The analysis process is implemented as follow:
3.4.1 Assessment of measurement of scale
To ensure the effectiveness of the multi-item scales developed, it is crucial to evaluate their reliability, unidimensionality, and validity The most widely used method for assessing reliability is Cronbach Alpha, which indicates a high value when the scale items are strongly correlated Unidimensionality refers to the presence of a single construct that underlies a set of items, as defined by Garver and Mentzer (1999) It is essential to test for unidimensionality prior to conducting reliability assessments, as reliability measures like Cronbach Alpha assume the existence of unidimensionality rather than confirming it.
The current study employs exploratory factor analysis (EFA) using SPSS 11.5 as the primary assessment method EFA utilizes two key extraction techniques: common factor analysis and principal components factor analysis While principal components analysis focuses on item reduction and ensuring test unidimensionality and reliability, common factor analysis aims to uncover the latent dimensions of the original variables, as highlighted by Conway and Huffcutt (2003), and to assess convergent and discriminant validity.
The analysis process was implemented through the two respective steps:
EFA with principal components, eigenvalue≥ 1 and VARIMAX rotation was applied to each of the 7 constructs under investigation (Conway and Huffcutt,
The primary objective of this step is to determine if the scale for each construct is unidimensional or multidimensional To establish empirical unidimensionality, factor analysis must yield a single extracted factor Items with factor loadings below 0.40 are removed for failing to align with the intended latent construct Subsequently, reliability analysis using Cronbach Alpha is conducted on each scale to evaluate and refine the measurement items, eliminating those with a Cronbach Alpha of 0.60 or lower and item-to-total correlation coefficients of 0.35 or less.
A joint Exploratory Factor Analysis (EFA) was conducted using principal axis factoring, an eigenvalue threshold of 1, and VARIMAX rotation This approach permits items to correlate with all factors rather than being limited to their specific underlying constructs, as indicated by the findings of step 1 where each item demonstrated a strong loading on its respective factor (Kline, 1998) As a result, this method facilitates the exploration of the overall correlation patterns among the measurement items (Fabrigar et al., 1999).
First, no item load highly on more than one factor to indicate unidimensionality measurement, i.e one item measures only one construct (Anderson and Gerbing,
To ensure the validity of a scale, all items must exhibit strong loadings on a single factor that reflects the underlying construct, demonstrating convergent validity and unidimensionality Additionally, discriminant validity is confirmed when no factor is associated with two distinct sets of items that load significantly on it (Hair et al., 1998; Garver and Mentzer, 1999).
After completing the refinement, the multiple regressions were implemented to identify quantitative the relation of antecedent factors and job satisfaction, the relation of job satisfaction and retention.
Following the analysis, the empirical results have been determined These findings lead to discussions aimed at deriving managerial implications and offering recommendations for future research or addressing managerial challenges.
To evaluate the model and hypotheses outlined in the previous chapter, this research employs a quantitative approach, utilizing a questionnaire survey for data collection.
RESEARCH RESULT
Introduction
This chapter outlines the sample characteristics and details the assessment and refinement of the measurement scales utilized in this study, which is based on a dataset of 160 cases Additionally, it presents the results from the statistical estimations and discusses their implications for management.
Sample characteristics
Data for this study were gathered from 250 questionnaires distributed via colleagues and email to the Human Resource Departments of selected commercial banks in Ho Chi Minh City, achieving a response rate of 76% This response rate is notably positive, especially considering the unfamiliarity of these banks with such surveys After filtering the responses, several questionnaires were discarded due to missing information, resulting in a final sample of 160 completed questionnaires The subsequent sections will outline the key characteristics of this sample.
Categories Frequency Percent Valid percent Cumulative percent Bank ownership
The sample consists of 68 (equivalent to 42.5%) state-own banks, 92 (equivalent to 57.5%) private banks These percentages reflect the structure of the whole population which is dominated by private sector.
The study sample includes 49 bankers (30.6%) employed at commercial banks with 20 to 50 staff members, 34 bankers (21.3%) at banks with 51 to 100 staff, 17 bankers (10.6%) at institutions with 101 to 200 staff, and 60 bankers (37.5%) at banks employing over 200 staff members.
The majority of bankers in the sample are around of 31 to 40 year olds Among the 160 cases, 35.6% or 57 bankers which are less than 30 years old, 45.6% or
73 bankers are between 31 to 40 years old, 11.3% or 18 bankers are between 41 to 50 years old , and only 7.5% or 12 people are more than 51 years old.
There are 60% or 96 male respondents and 40% or 64 female respondents This suggests that majority of key personnel in banking industry who were participated in this study are male.
Assessment of measurement of scales
The assessment and refinement of measurement scales, as outlined in Chapter 3, involve two key steps using SPSS 11.5 software The first step includes Exploratory Factor Analysis (EFA) and Cronbach Alpha to evaluate unidimensionality and reliability The second step conducts EFA on all scales collectively to determine convergent and discriminant validity, leading to the elimination of items that do not meet the evaluation criteria Following this refinement process, the reliability of the scales is re-evaluated using Cronbach Alpha The criteria for item refinement are factor-loading greater than 0.40, item-total correlation exceeding 0.35, Cronbach Alpha above 0.60, and a percentage of variance greater than 60% (Hair et al., 1998).
4.3.1 EFA for individual scales of antecedent factors
The EFA results indicate that out of seven scales, four were accepted without modifications, including salary-pay (4 items), benefits (3 items), opportunities for training and promotion (6 items), and colleague relationships According to the latent root or Eigenvalue criterion greater than 1, each of these scales extracted a single factor, explaining variance between 60.97% and 70.87%, with factor loadings exceeding the 0.40 threshold This confirms that all four scales are unidimensional.
After established, these scales are unidimensional, the reliability was assessed.
The Cronbach Alpha values for the four scales exceed the acceptable threshold of 0.60, ranging from 0.794 to 0.869 Additionally, the item-total correlations fall between 0.450 and 0.825, all surpassing the minimum requirement of 0.40 Consequently, all items within these scales were retained for further analysis.
Table 4.2: EFA and reliability test results for four scales
%Variance Extracted Eigen value Item-total correlation
Table 4.6 presents the scales that required refinements, all of which demonstrated loading on two factors The variance values ranged from 26.08% to 40.02%, while the Cronbach Alpha coefficients varied between 561 and 929 Subsequently, an analysis was conducted to evaluate the unidimensionality and reliability of each factor loaded.
The analysis of work challenges revealed two distinct factors based on the original five items Factor 1, comprised of items wor2, wor4, and wor5, accounted for 62.55% of the variance with an eigenvalue of 1.876 and a Cronbach Alpha of 699, indicating acceptable reliability In contrast, Factor 2, which included items wor1, wor2, wor3, and wor4, explained 52.21% of the variance with an eigenvalue of 2.088, but had a lower reliability with a Cronbach Alpha of 578, leading to its exclusion from further analysis.
The working environment analysis, conducted through Exploratory Factor Analysis (EFA) using principal component extraction and VARIMAX rotation, identified two distinct factors Factor 1, comprising items env3, env4, and env5, demonstrated strong reliability with a variance of 65.08%, an eigenvalue of 1.952, and a Cronbach Alpha of 724, indicating it meets the necessary thresholds Conversely, Factor 2, consisting of items env1 and env2, showed a variance of 68.12%, an eigenvalue of 1.363, and a Cronbach Alpha of 53, which falls below the acceptable threshold of 60, leading to its exclusion from further analysis.
The analysis of leadership support identified two distinct factors based on eight items Factor 1, comprising seven items (sup1, sup2, sup4, sup5, sup6, sup7, sup8), explained 61.07% of the variance, with an eigenvalue of 3.981 and a strong Cronbach Alpha of 0.870, indicating its reliability Conversely, Factor 2, which included four items (sup1, sup2, sup3, sup4), accounted for 57.18% of the variance, had an eigenvalue of 2.367, and a lower Cronbach Alpha of 0.572, leading to its exclusion from the final model.
After refinement, five items were eliminated from the analysis: wor1 (Your current work is enjoyable) and wor2 (Your current work has a lot of challenges) from the work challenge construct; en1 (Work strain is low) and en2 (Part-time working is very rare) from the working environment construct; and sup3 (You are aware of the extent of your working responsibility) from the leadership support construct The remaining items were adjusted to load on a single factor, as presented in Table 4.6.
Table 4.3: EFA and reliability test results for three scales refined
Items Factor loading Item-total Factor loading Item-total
4.3.2 EFA for all scales of antecedent factors together
After confirming the unidimensionality and reliability of each scale, a common factor analysis was conducted on all 30 items This analysis allowed for correlations with multiple factors, leading to the elimination of items that loaded below the threshold of 0.400 The results, detailed in Table 4.7, retained 22 items across 7 factors, explaining 61.9% of the total variance Factor loadings for these items ranged from 0.419 to 0.879, surpassing the 0.40 threshold, which ensures discriminant validity as no single factor was overloaded with multiple items Additionally, Bartlett's Test of Sphericity and the KMO measure indicated that the inter-correlations among items were suitable for exploratory factor analysis, with a significance level of 0.000 and a KMO value of 0.828.
Table 4.4: Result of joint factor analysis for 7 scales
Rotation sums of squared loading 61.91
Extraction Method: Principal Axis Factoring.
Rotation Method: Varimax with Kaiser Normalization Rotation converged in 7 iterations.
Following two rounds of Exploratory Factor Analysis (EFA) for individual scales and the overall scale, seven constructs comprising 22 items were retained The reliability of each scale was subsequently evaluated using Cronbach's Alpha, with the results detailed in Table 4.8 below.
In summary, the analysis of the data set has confirmed the unidimensionality, reliability, convergent validity, and discriminant validity of the seven antecedent factor scales Consequently, the 22 items associated with these scales are deemed suitable for further analysis.
Table 4.5: Characteristics of 7 scales for re-assessment of reliability
4.3.3 Assessment for job satisfaction scale
The assessment of the scale was conducted using Exploratory Factor Analysis (EFA) and Cronbach's Alpha to ensure unidimensionality, reliability, convergent validity, and discriminant validity As indicated in Table 4.9, all values exceeded the established thresholds, confirming that the job satisfaction scale is valid for further analysis.
Table 4.6: Assessment for job satisfaction scale
No of Items Reliability Validity
Opportunities of training and promotion
Assessment of theoretical model and hypotheses
Based on the scales accepted above, this part continues to assess the theoretical model and hypotheses
The average scores for each scale were analyzed using multiple regression to evaluate the research model The appropriateness of the regression model was assessed through the Adjusted R square and F test The regression analysis employed the Enter method to determine the influence of antecedent factors on job satisfaction and their subsequent impact on employee retention.
Multiple regression of antecedent factors to job satisfaction
The multiple regressions were implemented with Enter method to consider the weight of antecedent contributing to job satisfaction The results shown as table below:
Table 4.7: Multiple regression result of antecedent factors to job satisfaction
Opportunities of training and promotion
Mode R R square Std Error of the Estimate
Sum of Squares df Mean
The analysis reveals an R square coefficient of 0.306, an F value of 9.557, and a significance level of 0.000, confirming the suitability of the linear multiple regression model for examining the relationship between antecedent factors and job satisfaction Among the seven original factors, five—salary, leadership support, benefits, training and promotion opportunities, and work challenges—demonstrated statistically significant impacts on job satisfaction, with standardized coefficients ranging from 0.283 to 0.135 The model explains 30.6% of the variance in job satisfaction, indicating that the remaining 69.4% is influenced by other factors.
Linear regression of job satisfaction to retention:
The regression was implemented with Enter method to consider the score of job satisfaction to retention The results shown as below table:
Table 4.10: Regression result between job satisfaction and retention
Std Error of the Estimate
The regression results display R square coefficient is 622 ≠ 0, F value correspond with Sig is 000, linear regression model achieves a satisfactory level of overall fit Moreover, job satisfaction explains 62.2% of variance of retention.
The theoretical model demonstrated a satisfactory level of fit, revealing five key antecedent factors that significantly influence job satisfaction: salary, leadership support, benefits, opportunities for training and promotion, and work challenges.
4.4.2 Assessment level of overall job satisfaction:
Table 4.16 show mean of constructs in adjusted job satisfaction scales
Table 4.13: Mean values of different factors
Error worme 3.7729 71068 -.270 192 -.040 381 payme 2.7937 83908 045 192 038 381 benme 3.2625 74619 137 192 -.395 381 envme 3.6688 82776 -.426 192 114 381 cowme 3.7354 73364 -.592 192 896 381 supme 3.5281 71374 -.281 192 391 381 prome 3.1813 72766 074 192 435 381 jobme 3.3652 66636 -.357 192 -.013 381 reten 3.1900 987 -.280 192 -.235 381
The analysis reveals that bankers in the industry express dissatisfaction with their salaries, indicated by a mean pay value of 2.79 Although the mean values for benefits (3.26) and opportunities for training and promotion (3.18) are slightly above average, they do not reflect a high level of job satisfaction This suggests that low salaries, coupled with moderate satisfaction regarding benefits and advancement opportunities, contribute to an increased intention to leave their current positions Additionally, the mean values for job satisfaction (3.36) and retention (3.19) further emphasize the significance of these issues within the banking sector.
4.4.3 Different influences of organization/employee characteristics to impact of antecedent factors on job satisfaction
Table 4.17 illustrates the varying impacts of antecedent factors on job satisfaction across genders The male group exhibits an R square coefficient of 397 with a significance level of 000, indicating that leadership support is the most influential factor, with an unstandardized coefficient of 430 Conversely, the female group shows a higher R square coefficient of 419, also with a significance level of 000, where colleague relationships emerge as the most significant factor These findings suggest that the influence of antecedent factors on job satisfaction is moderated by gender.
Table 4.14: Differences of impact of antecedent factors by gender
Opportunities of training and promotion
Table 4.18 illustrates how antecedent factors influence job satisfaction differently across age groups For young bankers (age ≤ 30), key factors significantly affecting their satisfaction include leadership support (B = 404), salary (B = 281), colleague relationships (B = 227), benefits (B = 261), and work challenges (B = 229) In contrast, mature bankers (ages 30 to 41) show a stronger influence from leadership support (B = 425), benefits (B = 367), and salary (B = 363), reflecting their preference for stability Notably, bankers over 40 years old, who are primarily in managerial or leadership roles, do not exhibit statistically significant influences from these antecedent factors on their job satisfaction.
Table 4.15: Differences of impact of antecedent factors by age
.857 Opportunities of training and promotion
Table 4.19 illustrates the moderation of ownership on the effects of antecedent factors influencing job satisfaction, showing statistical significance In state commercial banks, the antecedent factors yield an R square coefficient of 453, with an F value of 7.094 and a significance level of 000, where leadership support exhibits the highest unstandardized coefficient at B equals 503 Conversely, in limited commercial banks, the impact of antecedent factors on job satisfaction shows an R square coefficient of 231, an F value of 3.606, and a significance level of 002, with salary having the highest unstandardized coefficient at B equals 358.
Table 4.16: Differences of impact of antecedent factors by ownership
Opportunities of training and promotion
Table 4.20 displays differences of impact of antecedent factors by bank size.
Table 4.17: Differences of impact of antecedent factors by bank size
Opportunities of training and promotion
The study reveals distinct impacts of antecedent factors on job satisfaction in small and large banks For small-sized banks (≤ 200 employees), the R square coefficient is 356, with significant factors including leadership support (B = 432), salary (B = 314), and benefits (B = 225) In contrast, large-sized banks (> 200 employees) show a higher R square coefficient of 461, where significant factors affecting job satisfaction are colleague relationships (B = 525), opportunities for training and promotion (B = 507), benefits (B = 445), and salary (B = 362).
In summary, impacts of antecedent factors on job satisfaction are moderated by organization / employee characteristics, the level of difference of impact depend on each characteristic.
This section utilizes the standardized regression coefficients from the model to evaluate the hypotheses outlined in Chapter 2 According to Table 4.21, six of the nine hypotheses receive full support, while one hypothesis (H9) is partially supported by the empirical data A comprehensive analysis of the test results for each of the eight hypotheses follows below.
Standardized Regression coefficient P Hypothesis test
H2 Work Challenges→Job Satisfaction 135 490 Supported
And Promotion→Job Satisfaction 155 024 Supported H4 Leader Support→ Job Satisfaction 261 000 Supported
Hypothesis 1: "There is a positive impact of job satisfaction on the retention of professional bankers".
The standardized coefficient of the path from job satisfaction to the Retention is significantly greater than zero (β = 0.789, p = 0.000).Therefore, H1 is supported by the empirical data.
Hypothesis 2: "There is a positive impact of the work challenge on job satisfaction".
The standardized regression coefficient for work challenge is 0.135 (p = 0.049), indicating that the results are statistically significant at p < 0.05 This suggests that work challenge positively influences job satisfaction, thereby supporting Hypothesis 2.
Hypotheses 3: “There is a positive impact of opportunities of training and promotion on job satisfaction”.
The standardized regression coefficient of opportunities of training and promotion on job satisfaction is significantly greater than zero (β = 0.155, p 0.024) These figures indicate that H3 is supported by the data.
Hypotheses 4: “There is a positive impact of the leadership support on job satisfaction”.
The standardized coefficient for leadership support on job satisfaction is significantly greater than zero (β = 0.261, p = 0.000) Therefore, H4 is supported by the empirical data.
Hypotheses 5: “There is positive impact of the colleague relationship on job satisfaction”.
The standardized regression coefficient for colleague relationships is 0.091 (p = 0.185), indicating that this factor does not significantly affect job satisfaction, as the significance level exceeds p > 0.05 Therefore, the hypothesis H5 is not supported by the empirical data.
Hypotheses 6: “There is a positive impact of salary on job satisfaction”.
The standardized coefficient for salary on job satisfaction is significantly greater than zero (β = 0.283, p = 0.000).Therefore, H6 is supported by the empirical data.
Hypotheses 7: “There is a positive impact ofbenefits on job satisfaction”.
As shown in Table 4.19, the standardized regression coefficient of benefit is 0.238
(p = 0.001), which is significant at p < 0.05 Thus, benefit has a significant positive effect on job satisfaction In other words, H7 is supported by the empirical data.
Hypotheses 8: “There is a positive impact of working environment on job satisfaction”.
The standardized coefficient for working environment on job satisfaction is β 0.014; p = 0.84 > 0.05 which is not significant Therefore, H4 is not supported by the empirical data.
Hypotheses 9: “The impacts of antecedent factors on job satisfaction are moderated by organization/employee characteristics such as age, gender, organization size, organization ownership”
Base on the result in part 4.4.3, characteristics of organization/employee have significant influences to impact of antecedent factor on job satisfaction So, H9 is supported by empirical data.
Figure 4.1: Regression coefficients of model
Discussion
In Chapter 2, a theoretical model was established through a comprehensive literature review Empirical testing validated the connections between job satisfaction and employee retention, as well as job satisfaction and its antecedent factors These findings strengthen the theoretical framework outlined earlier, confirming that the hypothesized model is indeed satisfactory.
To enhance the retention rates of professional bankers, it is crucial to improve job satisfaction The findings indicate a strong correlation, with a standardized regression coefficient of β = 798 and a p-value of 000, suggesting that for every one-unit increase in job satisfaction, retention levels rise by approximately 798 units.
The study reveals that five key factors significantly influence job satisfaction, albeit to varying degrees: salary (β = 283), leadership support (β = 261), benefits (β = 238), training and promotion opportunities (β = 155), and work challenges (β = 135) To enhance employee retention, it is essential to prioritize improvements in the factors with the lowest job satisfaction levels and the highest impact on overall satisfaction Additionally, the improvement strategy must consider organizational characteristics, such as ownership and bank size, as well as employee demographics like gender and age, since these factors significantly moderate the relationship between antecedents and job satisfaction.
The influence of colleague relationships and working conditions on job satisfaction in the banking industry is statistically insignificant This is largely due to the independent nature of bankers' work, where individuals are accountable for their tasks and receive direct supervision from managers As a result, the dynamics of colleague relationships do not significantly affect job satisfaction Additionally, most commercial banks offer prime locations, modern banking systems, and excellent facilities Bankers often experience unpredictable schedules, alternating between periods of free time and intense workload, which further diminishes the impact of working conditions on their job satisfaction.
Managerial implications
This research identifies key issues contributing to high turnover rates in commercial banks in Ho Chi Minh City, highlighting the need for improvements in salary, benefits, leadership support, promotion opportunities, and job challenges To address these concerns, several managerial implications are proposed to enhance employee retention.
Salary: this problem is mentioned in many studies of other industries In commercial banks, current satisfaction level of salary is low (mean equals 2.79).
Many bankers reported feeling that their salaries are lower than those of their peers in the industry, leading to dissatisfaction with their compensation relative to their work and efforts This financial strain makes it difficult for them to cover their family living expenses, prompting many to seek higher-paying positions at other banks or pursue additional part-time jobs to supplement their income.
To retain talented bankers in Ho Chi Minh City, commercial banks must prioritize increasing salaries and revising current salary policies Bank managers should develop personalized benefits that reflect the consumer price index (CPI) and living expenses, ensuring salaries are adequate to support bankers' personal lives Additionally, salary policies must be perceived as fair and aligned with job responsibilities Establishing clear criteria for evaluating bankers' contributions will provide a foundation for regular salary increases Furthermore, managers should also focus on implementing rewards, bonuses, and incentives to enhance overall income, ultimately improving job satisfaction among bankers.
The research indicates a moderate satisfaction level with benefits (3.26), yet their significant impact on job satisfaction (β = 238) highlights the need for improvement in this area While banks offer favorable conditions such as transportation, workplace, and equipment, neglecting aspects like personal life support, medical insurance, retirement programs, and community involvement can diminish employee engagement and the overall friendliness of bankers towards the organization As bankers tend to work independently, enhancing these benefits is crucial for fostering a stronger connection to the organization, making it essential for bank managers to address these issues.
Implementing benefit policies for bankers on a regular basis—monthly, quarterly, or annually—is essential These policies encompass medical insurance, health insurance, accident coverage, retirement programs, and summer holiday benefits for bankers and their families Such initiatives serve as motivation, helping bankers navigate challenges and enhancing their overall job satisfaction.
Bank managers may need to allocate funds to implement new policies, but the costs are minimal compared to their annual revenues The benefits of these policies significantly enhance bank profits and have a remarkable positive impact on employees By improving job satisfaction among bankers, these initiatives strengthen their commitment to remain with the bank.
Leadership support in commercial banks is characterized by managers who maintain close relationships with influential figures in economics, politics, and government While these leaders possess valuable experience and banking skills, they often overlook the needs and requests of their staff, remaining dominant forces within the banking structure Despite this, the job satisfaction level, as indicated by a mean score of 3.53 in Table 4.16, suggests that employees recognize the significant roles and strong influence these managers have on overall bank performance.
In the banking industry, bank managers are crucial in driving annual profits and shaping the future through strategic planning and resource allocation To enhance job satisfaction and employee retention, it is essential to adapt leadership behaviors Research indicates that increased leadership support significantly correlates with higher job satisfaction levels, with a beta coefficient of 2.61.
Managers should prioritize their staff by encouraging them to share ideas on key departmental or banking decisions They need to be patient when receiving feedback on issues and improvements, fostering an environment of respect and trust as staff work towards their goals In the banking sector, it's essential to implement a management system with clear assessment criteria to accurately measure performance, ensuring that rewards and penalties are fair, while providing direct feedback to employees.
The analysis in Table 4.16 reveals that job satisfaction regarding opportunities for training and promotion among bankers is relatively low, with a mean score of 3.18 This indicates a significant dissatisfaction with the available training and promotion opportunities As the banking industry evolves rapidly, effective job training has become crucial for both bankers and organizations aiming to thrive in a competitive market By implementing internal and external training programs, banks can make a strategic investment in their workforce, enhancing employee skills and career development while simultaneously boosting overall job satisfaction.
Investing in staff training is often overlooked in commercial banks, leading many bankers to independently seek improvements in their financial knowledge and banking skills As a result, they may leave for better opportunities after completing their training To address this, bank managers need to prioritize training programs, including schedules and content, to foster employee loyalty and growth Additionally, establishing clear criteria for assessment and promotion can motivate bankers to engage in opportunities, such as completing tasks ahead of deadlines, which in turn enhances their job satisfaction.
In the research, the score for work challenges among bankers is notably high, with a mean of 3.77, indicating a general satisfaction with this aspect of their jobs However, it is suggested that deadlines for task completion should be extended, as bankers face significant hurdles to meet essential threshold values Consequently, this creates an ongoing challenge in their work environment.
To enhance their operations, commercial banks must progressively update their core banking systems and improve interdepartmental workflows, enabling managers to continuously enhance their skills Additionally, banks should strategically develop diverse business initiatives, creating an environment that motivates employees and strengthens their succession planning.
Some of actions influence to retention of bankers:
In order to manage bankers effectively, some of recommendation are advised for bank managers and commercial banks in Ho Chi Minh City as follows:
Adjusting salary policy and ensure the minimum is equal or greater than the average salary in the industry.
Proposing incentive policies that are able to improve bankers’ income such as early fulfillment rewards, part-time compensations, target achievement bonus.
Remuneration policies are applied clear and fair.
Considering to increase salary periodically such as annually or semi- annually.
Implementing stock policies preferred stock, stock, right to buy bank stock…
Listen and do appropriate actions to the bankers.
Discuss with bankers about general strategies and related decisions, the feedbacks of bankers will be recognized to improve bank strategies.
Sympathize and support for the bankers’difficulties.
Formulate close relationship with staffs, eliminating unnecessary power hierarchy in banks.
Update and upgrade the professional competencies frequently.
Participate in management courses to improve the management skills frequently.
Study and imitate efficient management model from other foreign banks.
Respect and trust the staffs when assign the jobs.
Assign jobs with clear responsibility, time schedule, evaluated scales and reward for effective fulfillment.
Hand over the banks’ issues the brain-storming solution, results will be considered as scale for their promotion.
Diversify and enlarge the bank businesses.
Implement insurance policies annually such as health insurance, social insurance, accident insurance, medical insurance.
Implement retirement program (pension fund), paid for time not work (pregnancy leave, sick leave, marriage leave…).
Organize annually vacation outings for bankers and their families.
Provide strong supports and advise to bankers in difficult situations.
Providing and conduct internal training courses related to banking industry.
Sponsor for key bankers in MBA courses, CEO courses, or other long term courses.
Plan for personnel development, designate and rotation for staffs’ development.
Organize appraisal criteria for evaluation and promotion physically.
Organize corporate culture and good relationship among different departments.
Establish friendly working environment and team-work spirit.
Office environment has to be clean and comfortable.
Workplace has to be supplied enough supporting equipments
Work stress should be considered and reduce for bankers.
CONCLUSION AND RECOMMENDATIONS
Conclusion
This study investigates the influence of various antecedent factors on job satisfaction and its correlation with employee retention To achieve this, a comprehensive literature review on job satisfaction and retention was conducted, leading to the development of a theoretical model and associated hypotheses A quantitative methodology was employed, utilizing a large sample survey of 160 professional bankers from selected commercial banks in Ho Chi Minh City The collected data was analyzed to refine the measurement scales of the constructs, primarily through reliability analysis and exploratory factor analyses.
The research highlights two main findings: a direct correlation between job satisfaction and employee retention, indicating that increased job satisfaction leads to higher retention rates Additionally, the study identifies key factors influencing bankers' overall satisfaction, including leadership support, compensation, benefits, work challenges, and opportunities for training and promotion Based on these empirical insights, important managerial implications are proposed to enhance job satisfaction and retention in the banking sector.
Recommendations
To enhance job satisfaction and improve employee retention in commercial banks in Ho Chi Minh City, targeted solutions and recommendations have been formulated, focusing on policies and administrative programs However, the implementation of these suggestions faces two primary challenges.
Change the standpoint and awareness about the roles and influences of bankers.
Improve knowledge and skills of management for managers in the commercial banks in Ho Chi Minh City.
In today's competitive landscape, banks must prioritize attracting and retaining talented professionals, as they represent a significant competitive advantage To enhance job satisfaction and engagement among employees, bank managers should adopt strategic approaches that focus on fostering a supportive work environment and recognizing individual contributions By addressing these essential demands, banks can ensure they remain compliant with evolving financial regulations while building a strong, motivated workforce.
Viewpoint about talent staffs in the banking industry
Talent staff are essential assets that provide long-term competitive advantages to banking institutions These core employees play a crucial role in developing key products and shaping the brand image of banks It is vital for banks to recognize the importance of nurturing, retaining, and advancing these valuable human resources.
Viewpoint about relationship between talent bankers and supervisors
Building a strong and organic relationship in the workplace requires fair and reciprocal interactions Managers should conduct research and implement policies that enhance job satisfaction and strengthen the commitment of employees and the organization alike.
Bank managers must cultivate a strong corporate culture within their institutions by fostering a fresh and open working environment This approach encourages employees to express their ideas and actively participate in key decision-making processes, ultimately enhancing the overall effectiveness of the bank.
Organizational objectives should optimize and combine between organizational and bankers benefits.
Awareness of quality and effectiveness
Quality and effectiveness are two important attributes for commercial banks in
To boost employee engagement and motivation, banks in Ho Chi Minh City should adopt strategic steps that encourage bankers to take an active role in managing quality and effectiveness By doing so, banks can create a challenging yet fulfilling work environment that increases job satisfaction among bankers, ultimately driving business success.
Commercial banks in Ho Chi Minh City must develop clear and purposeful long-term strategies to ensure stable operations and create effective human resource plans for the future These strategies should include specific milestones to track progress and fulfillment.
Limitation and further research directions
This study quantitatively analyzes the factors influencing overall job satisfaction among bankers in commercial banks in Ho Chi Minh City, assessing how job satisfaction affects professionals' intent to remain in their positions Despite its insights, the study acknowledges certain limitations.
This study focuses exclusively on commercial banks in Ho Chi Minh City, analyzing job satisfaction through work-related factors while excluding other important elements such as social influences, work-life balance, and conflicts between work and personal life Future research should incorporate these additional factors to enhance the explanatory power regarding professionals' job satisfaction Moreover, this study does not address several factors that impact employee retention, highlighting the need for further investigation in this area.
Professional banker retention is a critical concern for bank managers in commercial banks in Ho Chi Minh City Conducting further research on banker retention is essential, as the findings will benefit all commercial banks in Vietnam, particularly in the current interactive and competitive landscape.
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Xin chào các anh/chị, mình tên là Đoàn Đức Minh, hiện là học viên Chương trình Thạc sĩ - Viện Đào Tạo Quốc Tế Tp Hồ Chí Minh.
Minh hiện đang tiến hành nghiên cứu về mối liên hệ giữa mức độ hài lòng của nhân viên và lòng trung thành tại các Ngân hàng Thương mại ở Thành phố Hồ Chí Minh.
Trong bối cảnh khủng hoảng kinh tế toàn cầu, nguồn nhân lực trong ngành Ngân hàng trở thành tài sản quý giá và là giá trị cốt lõi của mỗi tổ chức Để cạnh tranh hiệu quả, các Ngân hàng cần một đội ngũ nhân viên sẵn sàng vượt qua yêu cầu công việc, tuân thủ quy định, hỗ trợ đồng nghiệp và quan tâm đến hình ảnh cũng như sự phát triển của Ngân hàng Nghiên cứu này nhằm xác định mối quan hệ giữa mức độ hài lòng của nhân viên và sự cống hiến lâu dài của họ cho Ngân hàng.
Do bài nghiên cứu cần những thông tin thực tế, Minh rất mong nhận được ý kiến phản hồi dựa theo bảng câu hỏi bên dưới.
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Một lần nữa, xin chân thành cảm ơn sự hỗ trợ, giúp đỡ cũng như phản hồi từ phía anh/chị.
Dựa trên thực tế công việc hiện tại, xin vui lòng đánh giá mức độ hài lòng của bạn đối với các phát biểu dưới đây Hãy đánh dấu vào ô tương ứng với mức độ mà bạn lựa chọn.
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Phát biểu sau có liên quan đến công việc của anh/chị
H oa ứn t oa ứn kho õng ủ oàng y ự K ho õng ủ oàng y ự K ho õng ủo àn y ự cu ừng kh oõn g p ha ỷn ủo ỏi ẹ oàng y ự H oa ứn t oa ứn ủ oàng y ự
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Tôi nhận được mức lương cao hơn so với trung bình tại các ngân hàng khác, điều này giúp tôi có thể trang trải mọi chi phí trong cuộc sống Mức lương này tương xứng với khối lượng công việc hiện tại của tôi và tôi cảm thấy nó là công bằng.
Ngân hàng tôi đang công tác có chế độ phúc lợi tốt 1 2 3 4 5
Ngân hàng đảm bảo việc đóng nảo hiểm y tế, bảo hiểm xã hội, bảo hiểm thất nghiệp đầy đủ cho nhân viên 1 2 3 4 5
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Công việc hiện tại của tôi không gây áp lực quá lớn, và tôi không thường xuyên phải làm thêm giờ Môi trường làm việc được đánh giá là an toàn, sạch sẽ và thuận lợi, tạo điều kiện tốt cho nhân viên trong quá trình làm việc.
Ngân hàng cung cấp đầy đủ trang thiết bị cần thiết đáp ứng tốt cho công việc của nhân viên 1 2 3 4 5
Công việc hiện tại của tôi rất ổn định, giúp tôi không lo lắng về việc sa thải Đồng nghiệp có thái độ làm việc tích cực và tạo ra một môi trường thoải mái, dễ chịu Trong bộ phận, tất cả nhân viên đều hợp tác với tinh thần đồng đội cao và rất hòa đồng, thân thiện Ngân hàng cũng khuyến khích nhân viên xây dựng nhóm làm việc hiệu quả.
Tôi cảm thấy yêu mến và gắn bó với Ngân hàng nơi mình làm việc Tôi hài lòng với công việc hiện tại và tin rằng Ngân hàng này là nơi làm việc thích hợp cho tôi.
Tôi KHÔNG có ý định rời bỏ công việc hiện tại? 1 2 3 4 5
Tôi muốn xây dựng uy tín cho Ngân hàng? 1 2 3 4 5
Tôi đang nỗ lực làm tốt công việc hiện tại 1 2 3 4 5
II PHẦN THÔNG TIN CÁ NHÂN
1 Kế hoạch công việc sắp tới của tôi (chọn 1 trong những câu trả lời sau):
Chắc chắn gắn bó với Ngân hàng hiện tại trong thời gian dài
Có ý định gắn bó với Ngân hàng trong thời gian sắp tới
Chưa có ý định rõ ràng về vấn đề này
Có ý định rời Ngân hàng trong thời gian sắp tới
Chắc chắn rời Ngân hàng trong vòng 1 năm tới
Quốc Doanh Trách Nhiệm Hữu Hạn Khác: _
Cấp trên sẽ tham khảo ý kiến của nhân viên về các vấn đề mà họ phụ trách, đồng thời khuyến khích sự đóng góp của nhân viên trong những quyết định quan trọng của bộ phận.
