(Luận văn) factors affecting job satisfaction, a comparison between state owned and non state owned enterprises in vietnam

INTRODUCTION

Background

Since initiating significant economic reforms in 1986, Vietnam has transitioned from a command economy to a market-oriented one, incorporating structural reforms and open-door policies as key components of its economic strategy (World Bank, 1999) This transformation has led to substantial improvements in the economy and the living standards of its citizens, with an impressive average GDP growth rate exceeding 7% during the 1990s and early 2000s, peaking at over 8% in 2006, positioning Vietnam among the fastest-growing economies globally (World Bank, 2006).

In the context of a booming economy and globalization, numerous foreign enterprises have entered the Vietnamese market as Joint Venture Companies, introducing modern management techniques and incentive policies that have influenced both state-owned and private Vietnamese firms This market opening has presented both challenges and opportunities; while some businesses have successfully adapted, enhancing productivity and product quality, others have struggled and faced decline Under competitive pressure, Vietnamese companies—whether state-owned, private, or joint ventures—are striving to optimize their financial, production, and sales performance Additionally, the role of employees is crucial in driving development, as highlighted by Maslow's principles.

(1954) the personal needs go along with their development So, employees need more and more from their works, their devotion for company development.

Many individuals face unmet job requirements, leading to dissatisfaction and significant life changes Additionally, the distribution of the Vietnamese labor force is noteworthy, as it is predominantly concentrated in major cities like Ha Noi.

Ho Chi Minh City showcases a significant movement of labor forces, particularly evident in its industrial zones, which are home to a large population of unskilled workers.

They usually move their jobs, which heavily damages enterprise’s human resources

Many Vietnamese enterprises face significant challenges related to recruitment and training costs According to the Vietnamese Labor Force Newspaper (2010), 15-20% of employees in industrial zones frequently change jobs, highlighting the urgent need for companies to focus on retaining their workforce.

Problem statement

According to Towers Watson (2011), the average turnover rate in Vietnam for 2011 was 17.8% This high turnover rate poses significant challenges for Vietnamese companies, potentially harming their image and hindering development.

An analysis by IMQ Consulting experts reveals that employee turnover is primarily driven by conflicts and disagreements between staff and management, rather than salary issues Job dissatisfaction often stems from these interpersonal conflicts, along with an unstable working environment and a lack of focus on corporate culture.

Briefly, job dissatisfaction is the most factor leading high employee turnover rate in Vietnam.

Research objective

Job dissatisfaction is a prevalent issue in many Vietnamese companies, leading to employee depression and negatively impacting organizational performance, particularly in human resources This research aims to explore the underlying factors contributing to job satisfaction in Vietnam, focusing on the high turnover rates attributed to dissatisfaction The study will compare employee satisfaction levels between state-owned and non-state-owned sectors, identify the most significant factors influencing job satisfaction, and recommend enhancements to the current incentive systems to boost employee morale and retention in Vietnamese companies.

Research scope

This research is limited to South Vietnamese companies, encompassing both state-owned and non-state-owned enterprises The study focuses on employees, as well as low-level and middle-level managers.

Practical implication

This research aims to identify the key factors influencing job satisfaction, contributing to efforts to lower the high turnover rate in Vietnamese companies The findings will assist human resource managers in developing effective strategies to retain their workforce.

Research structure

This research will be composed of 5 Chapters:

Chapter 1: Introduction It introduces research background, research problem, research objective, research question as well as benefit of the research

Chapter 2: Literature review This chapter reviews theories and selects the research’s factors as well as formulates the research hypotheses and model

Chapter 3: Research methodology This chapter provides general idea how the research will be designed and implemented

Chapter 4: Research result This chapter translates data collected from survey, analyses data as well as discusses the result finding in connection with theory

Chapter 5: Conclusion This Chapter concludes the research finding; provide further suggestion as well as research limitation tot nghiep down load thyj uyi pl aluan van full moi nhat z z vbhtj mk gmail.com Luan van retey thac si cdeg jg hg

LITERATURE REVIEW

Introduction

This chapter explores job satisfaction theories and their measurement scales, defining job satisfaction and discussing key theories including Maslow's hierarchy of needs, Herzberg's motivation-hygiene theory, and McGregor's theory X and theory Y Additionally, it reviews popular job satisfaction scales used in recent studies.

Job satisfaction

According to C L Hulin (1966), job satisfaction is a worker's effective response to their job, reflecting the outcome of their experiences in relation to personal values and expectations Essentially, job satisfaction can be equated with pleasure derived from work.

Brayfield and Rothe (1951) propose a 7-point scale for assessing job satisfaction, focusing on five key factors: satisfaction with the current job, enthusiasm for the role, enjoyment of work hours, overall job enjoyment, and the balance between positive and negative aspects of the job These factors can be expressed through five specific statements.

- I feel fairly satisfied with my present job.

- Most days I am enthusiastic about my work.

- Each day of work seems like it will never end.

- I find real enjoyment in my work.

- I consider my job rather unpleasant.

Maslow's hierarchy of needs

According to Maslow (1954), employees primarily seek job security and a stable income to support themselves and their families They desire a safe and stable work environment, a sense of involvement in the company's development, and recognition from both supervisors and peers Additionally, employees aim to enhance their knowledge and skills, promote themselves, and build a long-term career This trend in employee expectations is illustrated in Figure 1 below.

Figure 1 Maslow hierarchy of needs

Employee dissatisfaction often stems from various factors, primarily related to management behavior and company structure Key issues include inadequate issue resolution, unclear personnel policies, broken commitments to staff, arbitrary task delegation, lack of ethical standards, emotional assessments of employees, and a family-style management approach These unfavorable working conditions significantly contribute to a decline in employee morale and satisfaction.

Herzberg's Motivation-Hygiene Theory

Herzberg's motivation-hygiene theory, introduced in 1966, identifies key factors influencing employee satisfaction and dissatisfaction Table 1 outlines the six most significant factors contributing to dissatisfaction, followed by the six primary factors that lead to satisfaction, ranked from highest to lowest importance.

Leading to Dissatisfaction Leading to Satisfaction

Table 1: factors affecting job attitudes

Herzberg proposed that satisfaction and dissatisfaction stem from distinct factors, indicating that they should not be viewed as mere opposites Instead, the absence of satisfaction represents the true opposite of satisfaction, while the absence of dissatisfaction is the opposite of dissatisfaction.

The analysis of the results indicates that dissatisfaction is influenced by external factors rather than the work itself Herzberg identified these external influences as "KITA" factors, which stand for a kick in the ass, referring to incentives or threats used to motivate individuals However, Herzberg contends that such methods yield only temporary success, as true job satisfaction stems from intrinsic motivators inherent to the work, rather than from external rewards or punishments.

Herzberg argued that job enrichment is required for intrinsic motivation, and that it is a continuous management process According to Herzberg:

∑ The job should have sufficient challenge to utilize the full ability of the employee.

Employees who show enhanced skills should be entrusted with greater responsibilities.

If a job cannot fully utilize an employee's skills, the company should consider automating the task and replacing the employee with someone less skilled This is important because underutilization can lead to motivation issues among employees.

Critics of Herzberg's theory suggest that the observed two-factor result stems from a natural tendency for individuals to attribute their satisfaction to personal achievements while blaming dissatisfaction on external circumstances Additionally, they argue that experiencing job satisfaction does not automatically correlate with heightened motivation or increased productivity.

McGregor's Theory X and Theory Y

Douglas McGregor (1957) introduced Theory X and Theory Y, which represent two contrasting perspectives on human behavior in the workplace and organizational life He believed that organizations and their managers typically adhere to one of these two approaches.

∑ People have an inherent dislike for work and will avoid it whenever possible

∑ People must be coerced, controlled, directed, or threatened with punishment in order to get them to achieve the organizational objectives

∑ People prefer to be directed, do not want responsibility, and have little or no ambition

∑ People seek security above all else.

In an organization with Theory X assumptions, management's role is to coerce and control employees

Work is as essential and natural as play and rest.

∑ People will exercise self-direction if they are committed to the objectives (they are NOT lazy)

∑ Commitment to objectives is a function of the rewards associated with their achievement

∑ People learn to accept and seek responsibility

∑ Creativity, ingenuity, and imagination are widely distributed among the population People are capable of using these abilities to solve an organizational problem.

Incentive

Pouliakas (2008) demonstrates a significant relationship between monetary incentives and job satisfaction, highlighting a negative correlation between small bonus payments and overall job satisfaction among low-paid workers He notes that introducing monetary incentives can transform the nature of an incomplete contract, as employees who previously performed tasks without compensation begin to expect payment for those activities once bonuses are introduced The study reveals that workers transitioning from no bonus payments to an incentive policy experience higher average job satisfaction compared to their peers.

Employee satisfaction measurement

The Occupational Stress Indicator (OSI), based on the Cooper and Marshall stress model from 1976, serves as a valuable tool for diagnosing critical aspects of organizational life and their effects on individual and corporate health Unlike a traditional test, the OSI functions as an indicator of stress, offering a comprehensive and accurate measure of occupational stress The OSI model encompasses three key components: the relationship between job pressure and stress-related outcomes, such as health and job satisfaction; the influence of individual characteristics, including Type A behavior and locus of control, which moderate this relationship; and the role of coping strategies in affecting stress-related outcomes.

This model provides a huge instruction to identify the cause of job dissatisfaction

This research is limited to a specific scale that assesses job satisfaction within the OSI model, focusing on the degree of negative feelings or attitudes employees may have towards their jobs The scale comprises 22 items, providing an overall score that ranges from 1, indicating "very much dissatisfaction," to 7.

“very much satisfaction” For each sub scale, the higher the score, the greater the satisfaction The sub-scales are as follows:

- Satisfaction with salary: this sub - scale examines the respondent’s perception and feeling about his income.

Participants expressed satisfaction with their work activities, highlighting their contentment with the specific missions and tasks they undertook.

- Satisfaction with working condition: assesses the structure of the company, the supervision methods, working climate.

- Satisfaction with career prospects: this sub – scale is used to assess your future promotion, job rewards, and opportunities.

- Satisfaction with relationship: this sub – scale shows your relationship with other people at the works.

Table 2 below shows all the elements of OSI scale that usually make up to measure job satisfaction.

1 Communication and the way information flow around your organization.

2 The relationships you have with other people at work.

3 The feeling you have about the way you and your efforts are valued.

5 The degree to which you feel “motivated” by your job

7 The level of job security in your present job

8 The extent to which you may identify with the public image or goals of your organization

9 The style of supervision that your superiors use

10 The way changes and innovations have implemented

11 The kind of work or tasks that you are required to perform

12 The degree to which you feel that you can personally develop or grow in your job

13 The way in which conflicts are resolved in your company.

14 The scope your job provides to help you achieve your aspirations and ambitions tot nghiep down load thyj uyi pl aluan van full moi nhat z z vbhtj mk gmail.com Luan van retey thac si cdeg jg hg

15 The amount of participation which you are given in important decision making

16 The degree to which your job taps the range of skills which you feel you possess

17 The amount of flexibility and freedom you feel you have in your job.

18 The psychological “feel” or climate that dominates your organization.

19 Your level of salary relative to your experience

20 The design or shape of your organization’s structure

21 The amount of work you are given to do whether too much or too little

22 The degree to which you feel extended in your job

Table 2 Job satisfaction measurement (OSI)

To assess job satisfaction in the Vietnamese context, the OSI scales have been tailored to include specific sub-scales such as pay, work activities, working conditions, career prospects, and relationships with superiors and colleagues This research emphasizes the distinctions between state-owned and non-state-owned companies, particularly regarding their differing pay systems According to Herzberg (1966), KITA factors, or "kick in the ass" factors, are essential for motivating employees to complete their tasks Consequently, the observation factor 19 of the OSI scales has been refined to better align with the Vietnamese pay structure.

Observation factor 19 has been revised to focus on salary in relation to experience, ability, and incentives The following statements outline the sub-scales of salary.

- Your level of salary relative to your experience.

- Your level of salary bases on your abilities or the job nature.

- Your degree of incentive. tot nghiep down load thyj uyi pl aluan van full moi nhat z z vbhtj mk gmail.com Luan van retey thac si cdeg jg hg

To enhance the clarity of the survey, observation factor 2, "The relationships you have with other people at work," is divided into specific categories for easier responses These categories include relationships with colleagues, relationships with supervisors, and relationships with customers The sub-scales of these relationships are outlined below.

- The relationships you have with your colleagues.

- The relationship you have with your bosses.

- The relationship you have with your customers.

The OSI scale of job satisfaction has been adapted to fit the Vietnamese working environment, incorporating five sub-scales: salary (3 factors), work activities (8 factors), working conditions (6 factors), career prospects (6 factors), and relationships (3 factors) Additionally, Brayfield and Rothe (1951) provide a framework for measuring job satisfaction.

5 items Totally, 31 items are used to depict employees’ job satisfaction in Vietnamese companies Table 3 shows the instrument of job satisfaction clearly

1 Your level of salary relative to your experience

2 Your level of salary bases on your abilities or the job nature

3 Your degree of incentive tot nghiep down load thyj uyi pl aluan van full moi nhat z z vbhtj mk gmail.com Luan van retey thac si cdeg jg hg

No Variable Factor 2: work activities

2 The style of supervision that your superiors use

6 The way changes and innovations have implemented

1 The level of job security in your present job

4 The degree to which you feel extended in your job

5 The design or shape of your organization’s structure

Effective communication is crucial for the smooth flow of information within an organization It ensures that all team members are aligned and informed, fostering collaboration and productivity By implementing clear communication channels, organizations can enhance their operational efficiency and create a more cohesive work environment.

No Variable Factor 4: career prospects

2 The degree to which you feel “motivated” by your job

6 The scope your job provides to help you achieve your aspirations and ambitions

1 The relationships you have with your colleagues

2 The relationship you have with your boss

3 The relationship you have with your customers

1 I feel fairly satisfied with my present job.

2 Most days I am enthusiastic about my work

3 Each day of work seems like it will never end

4 I find real enjoyment in my work

5 I consider my job rather unpleasant

Table 3 Job satisfaction instrument tot nghiep down load thyj uyi pl aluan van full moi nhat z z vbhtj mk gmail.com Luan van retey thac si cdeg jg hg

Hypotheses

Cooper & William (1988) demonstrate a positive relationship between job satisfaction and several key factors, including salary, work activities, working conditions, interpersonal relationships, and career prospects Consequently, this study aims to explore the correlation between these primary factors and job satisfaction within Vietnamese companies.

H1: There is a positive correlation between job satisfaction and work activities in the Vietnamese company

H2: There is a positive correlation between job satisfaction and your career prospect in Vietnamese company

H3: There is a positive correlation between job satisfaction and working conditions in Vietnamese company

H4: There is a positive correlation between job satisfaction and relationship in the Vietnamese company

H5: There is a positive correlation between job satisfaction and salary in the Vietnamese company.

A survey of ten employees from both state-owned and non-state-owned sectors reveals that the majority of workers in non-state-owned companies express job satisfaction, while some remain dissatisfied This leads to the assumption that there is a notable difference in job satisfaction levels between employees in state-owned and non-state-owned companies.

H6: Employees who are working in a non-state-owned company are more satisfied than the ones in state-owned company.

Conceptual model

Job satisfaction is influenced by several factors, including salary, work activities, working conditions, career prospects, and relationships with colleagues In this study, employee satisfaction serves as the dependent variable, while the independent variables include salary, work activities, working conditions, career prospects, and relationships The research specifically examines job satisfaction differences between state-owned and non-state-owned sectors, with company type acting as a moderator variable for sample grouping (Sharma & ctg, as cited in Nguyen, 2011) The conceptual model framework is illustrated in Figure 2.

+ tot nghiep down load thyj uyi pl aluan van full moi nhat z z vbhtj mk gmail.com Luan van retey thac si cdeg jg hg

RESEARCH METHODOLOGY

Research design

This research aimed to identify the factors influencing job satisfaction among employees in Vietnamese companies across various industries The survey targeted a diverse group of participants from both state-owned and non-state-owned sectors, allowing for a comparative analysis of satisfaction levels between these two sectors The study comprised two components: qualitative research and quantitative research.

Qualitative research was conducted through direct interviews with three individuals in Ho Chi Minh City This step aimed to verify the clarity and consistency of the measurement scales, ensuring that the survey would be easily comprehensible for all respondents.

Quantitative research was conducted from October to November 2012, utilizing both online and paper surveys to collect samples This population was analyzed to evaluate measurement scales and test relevant hypotheses.

The scales were developed based on existing theories and research, and were translated into Vietnamese to ensure accessibility for all audiences A feedback loop between the audiences and the researcher was implemented to confirm the clarity of the survey statements Consequently, Scale 2 was established.

In this quantitative research, the reliability of all scales was evaluated using Cronbach Alpha and exploratory factor analysis (EFA) Initially, Cronbach Alpha was employed to identify reliable scales by removing variables with a corrected item-total correlation below 0.3 and a Cronbach Alpha below 0.6 (Nunnally & Bernstein, as cited in Nguyen, 2011) Subsequently, the EFA method was applied to further analyze the data.

Eliminate variables have corrected item – total correlation less than 0.3

Cronbach Alpha must be greater than 0.6 KMO > 0.5

Sum of squared loading cumulative >50%

The analysis process for the thesis involves estimating the validity of the scale using the Kaiser-Meyer-Olkin (KMO) measure, which must be greater than 0.5, alongside a significant Bartlett test (p < 0.05) Factor loadings below 0.5 are excluded, and the scale is deemed acceptable only if the cumulative sum of squared loadings exceeds fifty percent, as outlined by Nunnally and Bernstein (Nguyen, 2011).

This research employed SPSS for data analysis, complemented by manual coding for data categorization The analysis commenced with reliability testing of the scales using Cronbach's Alpha Subsequently, the Pearson Correlation Coefficient was utilized to assess significant relationships between independent and dependent variables Finally, Multiple Regression Analysis was conducted to explore the impact of independent variables on employee satisfaction and to test the associated hypotheses.

Variable Coding

As had been stated in chapter 2, there were five factors affecting on job satisfaction:

(1) salary, (2) work activities, (3) working conditions, (4) career prospects, and (5) relationship These factors were measured by multi – item scales and Liker 7 scales

For each statement, (1) meant totally dissatisfied and (7) meant total satisfaction

The variables coding were in the table 4 below

2 Your level of salary relative to your experience S1

3 Your level of salary bases on your abilities or the job nature

4 Your degree of incentive S3 tot nghiep down load thyj uyi pl aluan van full moi nhat z z vbhtj mk gmail.com Luan van retey thac si cdeg jg hg

6 The actual job itself WA1

7 The style of supervision that your superiors use WA2

11 The way changes and innovations have implemented WA6

15 The level of job security in your present job WC1

18 The degree to which you feel extended in your job WC4

19 The design or shape of your organization’s structure WC5

20 Communication and the way information flow around your organization.

WC6 tot nghiep down load thyj uyi pl aluan van full moi nhat z z vbhtj mk gmail.com Luan van retey thac si cdeg jg hg

23 The degree to which you feel “motivated” by your job CP2

27 The scope your job provides to help you achieve your aspirations and ambitions

29 The relationships you have with your colleagues R1

30 The relationship you have with your boss R2

31 The relationship you have with your customers R3

33 I feel fairly satisfied with my present job JS1

34 Most days I am enthusiastic about my work JS2

35 Each day of work seems like it will never end JS3

36 I find real enjoyment in my work JS4

37 I consider my job rather unpleasant JS5

Table 4 Variable coding tot nghiep down load thyj uyi pl aluan van full moi nhat z z vbhtj mk gmail.com Luan van retey thac si cdeg jg hg

Data collection

Hair & ctg (as cited in Nguyen, 2011) stated that the ratio between observations and items is 5:1 That means we must have at least 5 observations for each variable

Therefore, with the scale contained 31 variables, the minimum sample collection was 155 people.

The employee job satisfaction surveys were primarily conducted online using Google Docs, targeting employees from both state-owned and non-state-owned companies A small portion of the data, about one-fifth, was gathered through random paper surveys In total, 211 responses were collected, comprising 72 from state-owned companies and 139 from other sectors.

RESEARCH RESULT

Statistics

The study comprised a total of 211 participants, with 104 males (49.3%) and 107 females (50.7%) A significant majority, 71.6%, were single, while the remainder were married Educationally, most participants held bachelor's degrees (125 individuals, 59.2%), followed by master's degrees (61 individuals), college degrees (23 individuals), and two participants with high school diplomas Age-wise, over half of the participants (52.1%) were between 26 and 34 years old, with 46% being under 25, and only four participants aged between 44 and 55 In terms of income, nearly 40% earned between 5 to 10 million per month (82 individuals), while 25.6% reported a monthly income of less than 5 million.

Thirty five people had income from ten to fifteen millions per month (16.6%)

Approximately 15% of the population earned between 15 to 25 million per month, while 8 individuals had salaries ranging from 25 to 40 million Only 2 individuals reported salaries exceeding 40 million per month Over one-third (34.1%) of the sample worked in state-owned companies, and 35% (74 people) were employed in private companies Additionally, 20% of the population was from foreign companies, totaling 42 individuals, while the remaining 10.9% worked for joint venture companies.

Table 5: Demographic description 2.2 Variable description

The variables were assessed using a multi-item scale, specifically a 7-point Likert scale, where 1 indicates total dissatisfaction and 7 indicates total satisfaction A detailed description of the variables can be found in Table 6 below.

Variable N Mean Std Deviation Min Max

Scale analysis

The result of reliability analysis was on the table below

Scale Mean if Item Deleted

Scale Variance if Item Deleted

Cronbach's Alpha if Item Deleted Salary (S)

Incentives (S3) 10.03 7.051 0.701 0.786 tot nghiep down load thyj uyi pl aluan van full moi nhat z z vbhtj mk gmail.com Luan van retey thac si cdeg jg hg

Cronbach's Alpha if Item Deleted Work activities (WA)

The style of supervision (WA2) 33.18 39.466 0.520 0.698

Working condition (WC) Cronbach’s Alpha = 0.776

Level of job securities (WC1) 22.71 34.370 0.369 0.777

Career prospects (CP) Cronbach’s Alpha = 0.903

Your efforts are valued (CP1) 23.71 40.323 0.749 0.884

Company image or goal (CP4) 23.69 39.948 0.656 0.899

Your job plays a crucial role in helping you achieve your ambitions It provides the necessary resources and opportunities to reach your goals.

Cronbach's Alpha if Item Deleted Relationship (R)

Job satisfaction (JS) Cronbach’s Alpha = 0.801

The analysis revealed that the Cronbach Alpha for all variables was generally acceptable; however, two variables exhibited a Corrected Item-Total Correlation below the threshold of 0.3 Following the guidance of Nunnally & Bernstein (as cited in Nguyen, 2011), it was determined that WA7 and JS5 should be excluded to enhance the reliability of the variables After careful consideration, it was decided to remove only WA7 The updated Cronbach Alpha values for the adjusted variables are presented in Table 8 below.

Cronbach's Alpha if Item Deleted Salary (S)

Work activities (WA) Cronbach’s Alpha = 0.746

Working condition (WC) Cronbach’s Alpha = 0.776

Level of job securities (WC1) 22.71 34.370 0.369 0.777

Communication (WC6) 23.49 29.413 0.576 0.729 tot nghiep down load thyj uyi pl aluan van full moi nhat z z vbhtj mk gmail.com Luan van retey thac si cdeg jg hg

Cronbach's Alpha if Item Deleted Career prospects (CP)

Your efforts are valued (CP1) 23.71 40.323 0.749 0.884

Company image or goal (CP4) 23.69 39.948 0.656 0.899

Your job helps you achieve your ambitions (CP6) 23.76 38.544 0.762 0.882

Job satisfaction (JS) Cronbach’s Alpha = 0.801

The validity of the scale was assessed using the Exploratory Factor Analysis (EFA) method, employing Principal Axis Factoring for extraction and Promax with Kaiser Normalization for rotation Any values below 0.4 were excluded from the analysis.

Your job enthusiastic 898 Your job satisfaction 881

Company image or goal 507 Job VS unpleasant 470 Working loyalty

Level of job security Decision making Your job helps you achieve your ambition 725

The job itself 502 tot nghiep down load thyj uyi pl aluan van full moi nhat z z vbhtj mk gmail.com Luan van retey thac si cdeg jg hg

As the result above, the values which were less than 0.5 should be eliminated

After a thorough evaluation of each variable's significance and value, the following variables were removed: job security, loyalty, decision-making, personal performance, and company image or goals The resulting reduction values are presented in Table 10 below.

The way solved conflicts 751 Organization structure 663

Psychological feel 602 Style of supervision 564

Your job helps you achieve your ambition 909

Your efforts are valued 492 tot nghiep down load thyj uyi pl aluan van full moi nhat z z vbhtj mk gmail.com Luan van retey thac si cdeg jg hg

Finally, the main factors affecting on job satisfaction were reduced from five factors to four factors:

Working conditions and activities (WCA): style of supervision, innovation, the way solved conflicts, flexible time, psychological feel, organization structure, and communication.

Career prospect (CP): Task required, the job itself, your efforts are valued, job motivation, personal development, job opportunities, and your job helps you archive your ambitions

Salary (S): Salary based on experiences, salary based on abilities, and incentives.

Relationship (R): Relationship with colleagues, relationship with bosses, and relationship with customers.

Job satisfaction (JF) encompasses your enthusiasm for your job, the enjoyment you derive from your working days, and the contrast between positive and unpleasant aspects of your work experience.

A survey of ten individuals revealed that most perceive working conditions and work activities as synonymous, often referring to them collectively as the working environment Only three participants recognized a slight distinction between the two terms, yet they did not advocate for separating them Instead, they understood "work conditions and activities" as integral to their daily job experiences The proposed conceptual model encompasses several factors, including working conditions and activities, career prospects, relationships, salary, and job satisfaction.

Hypothesis H1: Work condition and activities have a positive correlation with job satisfaction.

Career prospects are closely linked to job satisfaction, indicating that individuals who see potential for advancement in their careers tend to report higher levels of contentment in their jobs.

H3: Salary has a positive correlation with job satisfaction H4: Relationship has a positive correlation with job satisfaction

Analysis

Firstly, In order to test these relevant hypotheses, the correlation between factors was carried out by Pearson correlation The results of these analyses were in the Table 11.

Pearson correlation Job satisfaction (JS) Significant (2 - tailed) Pearson correlation

Working condition and activities (WCA)

This analysis reveals a significant correlation between job satisfaction (JS) and various factors, including working conditions and activities (WCA), interpersonal relationships (R), salary (S), and career prospects (CP).

4.2 Regression analysis a Multi linear regression

Multi-linear regression is employed to analyze the impact of multiple independent variables on a dependent variable (Nguyen, 2011) Before applying the multi-linear regression model, it is essential to first verify the regression standardized residuals and ensure homoscedasticity (Nguyen, 2011).

The regression standardized residual and homoscedasticity are suitable and the result is showed in Appendix 2

The study examined the impact of four independent variables—salary, working conditions and activities, relationships, and career prospects—on the dependent variable of job satisfaction (JS) The findings are presented in the tables below.

Std Error of the Estimate

1 656 a 430 419 99514 a Predictors: (Constant), R Relationship, S Salary, WCA Working condition and activities, CP Career prospects

Table 12 Multi linear regression analysis (1)

Total 358.074 210 a Predictors: (Constant), R Relationship, S Salary, WCA Working condition and activities, CP Career prospects b Dependent Variable: JS Job satisfaction

Table 13 Multi linear regression analysis (2) tot nghiep down load thyj uyi pl aluan van full moi nhat z z vbhtj mk gmail.com Luan van retey thac si cdeg jg hg

WCA Working condition and activities

.119 088 099 1.346 180 513 1.948 a Dependent Variable: JS Job satisfaction

Table 14 Multi linear regression analysis (3)

We had the regression equation below:

The equation for the dependent variable is given by \$JS = 0.187 + 0.119 \cdot WCA + 0.530 \cdot CP + 0.062 \cdot S + 0.156 \cdot R\$ Each independent variable's Variance Inflation Factor (VIF) was below 10, indicating that all independent variables significantly contributed to explaining the variations in the dependent variable (Hair et al., as cited in Nguyen, 2011).

The correlation factor R is 0.656, with an adjusted R² of 0.419, indicating that the four elements—salary (S), relationship (R), working conditions and activities (WCA), and career prospects (CP)—account for approximately 42 percent (41.9%) of the variations in job satisfaction.

The analysis revealed that career prospects (CP) significantly contribute to job satisfaction, with a p-value of less than 0.05 in the multi-linear regression This finding aligns with the simple linear regression analysis, which also identified career prospects as the primary factor influencing job satisfaction In summary, career prospects play a crucial role in enhancing job satisfaction.

In addition, in order to investigate the impact of company type on job satisfaction, Sharma & ctg (as cited in Nguyen, 2011) stated that we need a moderator variable.

The homologizer variable showed no relationship between dependent and independent variables To test the conceptual model with a moderator variable, we divided our samples into homogeneous groups and conducted multiple linear regression for each group Specifically, we categorized our population into state-owned and non-state-owned companies The results of the multiple linear regression for both groups are presented in the tables below.

Company type Mode l R R Square Adjusted R

Std Error of the Estimate

Non-state-owned 1 674 a 454 437 97798 a Predictors: (Constant), WCA Working condition and activities, S Salary, R Relationship, CP Career prospect

Table 15 Multi linear regression analysis between state-owned and non-state- owned companies (1)

ANOVA b Company type Model Sum of

The study identifies key predictors of job satisfaction, including working conditions and activities, salary, relationships, and career prospects The analysis reveals a total of 234.622 with 138 significant predictors impacting overall job satisfaction.

We had the regression equation of state-owned companies:

JS = 0.53 + 0.154*R + 0.119*S + 0.360*CP + 0.186*WCA And the regression equation of non-state-owned companies was:

WCA Working condition and activities

.103 112 079 918 360 554 1.806 a Dependent Variable: JS Job satisfaction tot nghiep down load thyj uyi pl aluan van full moi nhat z z vbhtj mk gmail.com Luan van retey thac si cdeg jg hg

The analysis revealed that the adjusted R² for state-owned companies (0.380) was lower than that for non-state-owned companies (0.437), indicating that factors such as salary, relationships, working conditions, activities, and career prospects significantly contributed to job satisfaction in non-state-owned firms Consequently, employees in non-state-owned companies reported higher levels of job satisfaction compared to their counterparts in state-owned sectors.

Noticing on β of each variable, we saw that only career prospects had a contribution on job satisfaction in both state-own and non-state-owned companies (sig < 0.05)

However, employees in non-state-owned companies had more ambitious than ones in state-owned sectors (ΒCP (non-state-owned) = 0.619 > BCP (state-owned)= 0.36).

Discussions

H1: Work condition and activities have a positive correlation with job satisfaction.

The regression analysis reveals that the relationship between working conditions and activities (WCA) and job satisfaction (JS) is not significant, with a regression weight of β = 0.119 and a p-value of 0.180, which exceeds the 0.05 threshold Consequently, we cannot accept hypothesis 1, indicating that working conditions and activities do not contribute to employees' job satisfaction.

H2: Career prospects have a positive correlation with job satisfaction.

The regression analysis reveals a significant positive correlation between career prospects (CP) and job satisfaction (JS), with a regression weight of β = 0.530 and a p-value of 0.000, which is less than the 0.05 threshold This supports hypothesis 2, indicating that improved career prospects are associated with higher job satisfaction.

H3: Salary has a positive correlation with job satisfaction

The regression analysis reveals that the relationship between salary (S) and job satisfaction (JS) is characterized by a regression weight of β = 0.062 and a significant value (P-value = 0.308), which exceeds the threshold of 0.05 Consequently, we cannot accept hypothesis 3 Furthermore, the regression weight indicates that salary has the least impact among the variables in the multiple linear regression test, suggesting that salary does not significantly contribute to employees' job satisfaction in Vietnamese companies.

H4: Relationship has a positive correlation with job satisfaction.

The regression analysis reveals a relationship (R) with job satisfaction (JS) characterized by a regression weight of β = 0.156 and a significance value (P-value) of 0.068, which exceeds the 0.05 threshold Consequently, we cannot accept hypothesis 4 However, since the significance value is only slightly above 0.05, reducing the reliability of this research to 93% would indicate that the relationship contributes to job satisfaction, explaining 15.6% of its variations.

This regression analysis categorizes companies into state-owned and non-state-owned sectors, revealing that the adjusted R² for state-owned companies is 0.38, while for non-state-owned companies, it is 0.437 This indicates that factors influencing job satisfaction account for 43.7% of the variance in non-state-owned companies compared to 38% in state-owned companies, suggesting that employees in non-state-owned companies experience higher job satisfaction Furthermore, both groups show a significant p-value of 0.000, validating the findings of the analysis.

Therefore, we accept the hypothesis 5. tot nghiep down load thyj uyi pl aluan van full moi nhat z z vbhtj mk gmail.com Luan van retey thac si cdeg jg hg

The summary of hypothesis testing is in the Table 18:

Work condition and activities have a positive correlation with job satisfaction

H2 Career prospects have a positive correlation with job satisfaction 0.000 Yes

H3 Salary has a positive correlation with job satisfaction 0.308 No

H4 Relationship has a positive correlation with job satisfaction 0.068 No

Employees who are working in a non-state-owned company are more satisfied than the ones in state- owned company

Table 18 Hypothesis testing summary 5.2 Analysis result discussions

The regression equation with standardized regression weight (β) is:

Career prospects are the most significant factor influencing job satisfaction, as an increase of one unit in career prospects leads to a 52% rise in job satisfaction In contrast, other factors such as salary, relationships, working conditions, and activities do not contribute to employees' overall job satisfaction.

Regression analysis with moderator variable

Company type is used as moderator variable or grouping classification After running regression analysis for each group, the regression equations with standardized regression weight (β) are:

In both state-owned and non-state-owned companies, career prospects significantly influence job satisfaction, as indicated by the equations: for state-owned companies, job satisfaction is modeled as \$0.53 + 0.36 \times \text{Career prospects}\$, while for non-state-owned companies, it is represented as \$-0.233 + 0.619 \times \text{Career prospects}\$ This analysis reveals that other factors such as salary, relationships, working conditions, and activities do not contribute to job satisfaction.

If career prospects increase 1 unit in state-owned companies, the employees’ job satisfaction will increase 36 percent of a unit.

An increase of 1 unit in career prospects within non-state-owned companies leads to a nearly 62% rise in employee job satisfaction.

CONCLUSION

Conclusions on the research problem and hypotheses

This thesis investigates the key factors influencing employees' job satisfaction, revealing that career prospects are the most significant contributor in both state-owned and non-state-owned companies Additionally, all relevant hypotheses have been tested, leading to this conclusion.

Implications for human resource manager

This research highlights that career prospects significantly influence job satisfaction, particularly among young employees under 34 years old, with a sample of 207 individuals It emphasizes the importance of providing career advancement opportunities over salary and other working conditions By focusing on creating more opportunities for growth, human resource managers can enhance employee satisfaction and engagement, leading to greater challenges and achievements in their careers.

Research contributions

This research represents the young employees’ opinion about their job satisfaction

Career prospects are a primary concern for employees, and it is essential for human resource management to focus on developing these opportunities By investing in employee career growth, companies in Vietnam can effectively address the high turnover rates they face.

Limitations

This study is limited to Ho Chi Minh City and employs non-probability data collection methods for convenience, which may result in incomplete coverage of all cases and potentially affect the accuracy of the findings.

- The samples of this research are mostly young employees, who are less than

34 years old So, we cannot understand the opinion of senior employees

This research, conducted in English as a secondary language, presents challenges for the writer in accurately translating the meanings of measurement instrument scales into Vietnamese.

Brayfield, A H., &Rothe, H F (1951) An index of job satisfaction Journal of Applied Psychology, 35, 307-311.

Cooper, C.L., & Marshall, J (1976) Occupational sources of stress: A review if the literature relating to coronary heart disease and mental ill health Journal of Occupational Psychology, 49, 11-28.

Cooper, C L., Sloan S J., & William, S (1988) Occupational stress indicator:

Management guide Windsor: NFER-Nelson.

C L Hulin (1966) The effects of community characteristics in measures of job satisfaction Journal of applied psychology, 50, 185 – 192

Herzberg, F (1966) Work and the Nature of Man Cleveland: World Publishing

Herzberg's Motivation-Hygiene Theory [online] Available at: http://www.netmba.com/mgmt/ob/motivation/herzberg/

Laodong.com.vn Retrieved March 17, 2011 from http://laodong.com.vn/Su-kien- binh-luan/Nhay-viec/38845.bld

Leadership and organizational behavior [online] Available at: http://www.nwlink.com/~donclark/leader/leadob.html Maslow, A (1954) Motivation and Personality New York: Harper and Row

McGregor, D (1957) Proceedings of the Fifth Anniversary Convocation of the School of Industrial Management, The Human Side of Enterprise.

Massachusetts Institute of Technology (April 9, 1957).

Nguyen TD (2011) presents a comprehensive exploration of research methods in business, published by Labor – Society Publisher This work serves as a valuable resource for understanding various research methodologies applicable in the business field.

Pay enough, don’t pay too much or don’t pay at all? This study by Konstantinos Pouliakas (2008) explores the relationship between bonus intensity and job satisfaction using data from the British Household Panel Survey (1998-2007) The findings indicate that job utility increases significantly with generous bonuses, particularly in skilled, non-unionized private sector roles Conversely, removing bonuses negatively affects employee satisfaction, and over time, job satisfaction may decline as employees adapt to receiving bonuses The research supports the notion that employers should ensure adequate compensation to effectively motivate their workforce.

Towers Watson conducted an HR Market Trends Survey in May 2011, which provides valuable insights into the evolving landscape of human resources The survey is accessible online at their official website, offering the latest data and trends relevant to HR professionals This resource is essential for understanding current market dynamics and enhancing HR strategies.

Lam D Nguyen, (2011, Oct) Organizational Characteristics and Employee Overall Satisfaction: A Comparison of State-Owned and Non State-Owned Enterprises in Vietnam The south east Asian journal of management, 5(2), 135 – 158.

Measuring job satisfaction [online] Available at: http://www.makemynotez.com/organizational-behavior/measuring-job- satisfaction/

N van Saane, J K Sluiter, J H A M Verbeek and M H W Frings-Dresen

(2003) Reliability and validity of instruments measuring job satisfaction—a systematic review Occupational Medicine, 53(3), 191–200 DOI:

Steiler, D (2004) conducted an unpublished honors thesis at the University of Newcastle – Upon – Tyne Business School, focusing on the translation and validation of the Occupational Stress Indicator for application in France.

Vietnamese questionnaire

Kính chào quý vị, tôi là Lê Anh Tài, hiện đang theo học cao học tại Viện Đào Tạo Quốc Tế (ISB) thuộc Trường Đại Học Kinh Tế Tp.HCM.

Tôi đang tiến hành nghiên cứu về các yếu tố ảnh hưởng đến sự thỏa mãn của nhân viên tại các công ty quốc doanh và ngoài quốc doanh Rất mong anh/chị dành thời gian tham gia khảo sát dưới đây Thông tin của anh/chị sẽ được giữ bí mật và chỉ có dữ liệu tổng hợp được công bố Nếu anh/chị quan tâm, bản báo cáo sẽ được gửi đến để tham khảo Mọi ý kiến đóng góp xin vui lòng gửi về địa chỉ: anhtai_le87@yahoo.com.

Chân thành cám ơn sự hỗ trợ của anh/ chị!

PHẦN I:CÁC YẾU TỐ TÁC ĐỘNG ĐẾN SỰ THỎA MÃN CỦA NHÂN VIÊN

Vui lòng đánh giá mức độ đồng ý của bạn với các phát biểu dưới đây theo thang điểm từ thấp đến cao.

Hoàn toàn không đồ ng ý

Hơi đồ ng ý Đồ ng ý Hoàn toàn đồ ng ý

TT Nội dung Mức độ đồng ý

I Lương và các khoản tiền thưởng

Mức lương của tôi phụ thuộc vào thâm niên kinh nghiệm và năng lực cũng như tính chất công việc tôi đang đảm nhận Tôi cũng hài lòng với các khoản tiền thưởng ngoài lương.

II Tính chất công việc

Tôi thật sự thích công việc mình đang làm, đặc biệt là cách quản lý nhân viên hiện tại của công ty Công việc này đòi hỏi chuyên môn cao và trong công ty, mọi mâu thuẫn trong công việc luôn được giải quyết một cách hiệu quả Khi đưa ra những quyết định quan trọng, tôi luôn cần sự đồng ý của nhiều người để đảm bảo tính chính xác và đồng thuận.

II.6 Nhiều biện pháp cải tiến trong công việc được áp dụng trong công ty tôi

II.7 Khối lượng công việc của tôi nhiều hơn so với đồng nghiệp cùng bộphận II.8 Tôi thểhiện hết khả năng của mình vào công việc

III Điều kiện làm việc

Công việc hiện tại của tôi đảm bảo sức khỏe và cho phép tôi sắp xếp thời gian làm việc một cách linh hoạt và thoải mái Không khí làm việc trong công ty rất dễ chịu, giúp tôi cảm thấy không bị gò bó Cơ cấu tổ chức của công ty đơn giản, hạn chế các thủ tục phức tạp, và cách trao đổi thông tin giữa các bộ phận rõ ràng, không có sự nhầm lẫn.

TT Nội dung Mức độ đồng ý

IV.1 Những nỗlực và đóng góp của tôi cho công ty được ghi nhận IV.2 Tôi được thăng tiến khi gắn bó với công việc

IV.3 Công việc hiện tại mởra cho tôi nhiều cơ hội cho bản thân (mởrộng mối quan hệ, bổsung kỹ năng sống cho bạn, …)

IV.4 Tôi thật sựquan tâm tới hình ảnh của công ty

Công việc hiện tại mang đến cho tôi cơ hội học hỏi và phát triển bản thân, đồng thời giúp tôi đạt được những mục tiêu phấn đấu của mình.

Tôi luôn duy trì mối quan hệ tốt đẹp với đồng nghiệp, làm cho sếp hài lòng về công việc của mình và tạo dựng mối quan hệ tốt với các đối tác.

VI Sựthỏa mãn của nhân viên

Tôi cảm thấy thỏa mãn với công việc hiện tại và hăng say làm việc mỗi ngày Ngày làm việc của tôi dường như không bao giờ kết thúc, nhưng tôi tìm thấy sự thích thú thật sự trong những gì mình đang làm.

VI.5 Tôi ưu tiên giải quyết công việc hơn những bực bội trong công việc

PHẦN II: THÔNG TIN CHUNG

Xin Anh/ Chị vui lòng đánh dấu vào các ô trống thích hợp:

Tình trạng hôn nhân có thể là độc thân hoặc đã kết hôn Để tải xuống luận văn thạc sĩ mới nhất, vui lòng gửi yêu cầu qua email vbhtj mk gmail.com.

6 Loại hình công ty đang làm việc:

Nhà nước: ( )Tư nhân: ( ) Liên doanh: ( )100% vốn nước ngoài: ( )

R ất cám ơn sự giúp đỡ chân tình c ủ a Anh/ Ch ị

Trân trọng kính chào. tot nghiep down load thyj uyi pl aluan van full moi nhat z z vbhtj mk gmail.com Luan van retey thac si cdeg jg hg

English questionnaire

Dear Mr./ Ms., I’m Le Anh Tai I’m studying master at University of Economic Ho Chi Minh City

I am currently researching my master's thesis on the factors influencing job satisfaction, specifically comparing state-owned and non-state-owned enterprises in Vietnam I would appreciate your responses to the following questions.

Your responses will remain confidential, and this research will only publish the processed data collected If you have any concerns regarding this topic, please feel free to email me at anhtai_le87@yahoo.com Thank you for your cooperation.

PART 1: FACTORS AFFECTING JOB SATISFACTION

To what extend to you agree these statements:

I.1 Your level of salary relative to your experience

Your salary is determined by your skills and the nature of your job Additionally, your motivation and qualifications play a crucial role in your career advancement and opportunities.

II.1 The actual job itself II.2 The style of supervision that your superiors use

II.3 The kind of work or tasks that you are required to perform

II.4 The way in which conflicts are resolved in your company.

II.5 The amount of participation which you are given in important decision making II.6 The way changes and innovations have implemented

II.7 The amount of work you are given to do whether too much or too little

II.8 The degree to which your job taps the range of skills which you feel you possess

III.1 The level of job security in your present job

III.2 The amount of flexibility and freedom you feel you have in your job.

III.3 The psychological “feel” or climate that dominates your organization.

III.4 The degree to which you feel extended in your job III.5 The design or shape of your organization’s structure

Effective communication is crucial for the smooth flow of information within an organization It ensures that all team members are aligned and informed, fostering collaboration and productivity By implementing clear communication channels, organizations can enhance transparency and reduce misunderstandings, ultimately leading to better decision-making and a more cohesive work environment.

IV.1 The feeling you have about the way you and your efforts are valued.

IV.2 The degree to which you feel “motivated” by your job IV.3 Current career opportunities

IV.4 The extent to which you may identify with the public image or goals of your organization

IV.5 The degree to which you feel that you can personally develop or grow in your job

IV.6 The scope your job provides to help you achieve your aspirations and ambitions

V.1 The relationships you have with your colleagues

V.2 The relationship you have with your boss V.3 The relationship you have with your customers

VI.1 I feel fairly satisfied with my present job.

VI.2 Most days I am enthusiastic about my work VI.3 Each day of work seems like it will never end VI.4 I find real enjoyment in my work

VI.5 I consider my job rather unpleasant

Married ( ) tot nghiep down load thyj uyi pl aluan van full moi nhat z z vbhtj mk gmail.com Luan van retey thac si cdeg jg hg

10-15 million VND ( ) Upper 40 million VND ( )

State owned: ( ) Private: ( ) Joint stock: ( ) Foreigner: ( )

Many thanks for your supporting

Best regards. tot nghiep down load thyj uyi pl aluan van full moi nhat z z vbhtj mk gmail.com Luan van retey thac si cdeg jg hg

Tiêu đề	Factors Affecting Job Satisfaction: A Comparison Between State-Owned and Non State-Owned Enterprises in Vietnam
Tác giả	Le Anh Tai
Người hướng dẫn	Dr. Nguyen Huu Lam
Trường học	University of Economics Ho Chi Minh City
Chuyên ngành	Business
Thể loại	Thesis
Năm xuất bản	2012
Thành phố	Ho Chi Minh City

Định dạng
Số trang	66
Dung lượng	709,76 KB