Job satisfaction in RSM vietnam

Moreover, since revenue decrease, it is needed to figure out the way to keep the business continue running, the senior management board has decided to freeze some benefits for optimizing

International School of Business

International School of Business

TABLE OF CONTENTS

CHAPTER 1 1

PROBLEM IDENTIFICATION 1

1.1 Problem background 1

CHAPTER 2 5

BUSINESS PROBLEM JUSTIFICATION 5

2.1 Justify the existence of the problem 5

2.2 Justify the importance of the problem 7

CHAPTER 3 11

CAUSE VALIDATION 11

3.1 List the potential causes of the problem 11

3.2 Cause justification 20

CHAPTER 4 26

SOLUTION INDENTIFICATION 26

4.1 Potential solutions development 26

4.2 Potential solution evaluation 31

4.3 Change plan design 35

CONCLUSION 38

CHAPTER 5 39

SUPPORTING INFORMATION 39

5.1 List of potential clues affecting job dissatisfaction existence in the Company 39

5.2 Open-interview transcript to identify the existence of the problem 39

5.3 The list of question in mini focus group to justify the root causes 43

5.4 Interview transcript in mini-focus group session 45

REFERENCE 56

TABLE OF FIGURES

Figure 1.1: The initial Cause and Effect map

Figure 3.1: Potential cause and effect of low level of job satisfaction

Figure 3.2: The final Causes and Effect map

TABLE OF TABLES Table 1.1: Turnover rate from 2011-2015

Table 3.1: The description of nine facets of job satisfaction

Table 3.2: The potential causes of Low level of job satisfaction

Table 4.2: Potential solution evaluation

Table 4.3: Detailed implementation plan

Table 5.4: Interview transcript in mini focus group session

CHAPTER 1 PROBLEM IDENTIFICATION 1.1 Problem background

RSM Vietnam with over 140 employees is one of the leading mid-tier accounting and advisory firms in Vietnam Under its core purpose of being the firm of choice for

growing businesses looking for high quality and personalized services, RSM Vietnam

assists clients in achieving their goals through audit, tax, advisory and outsourcing services

RSM Vietnam serves clients worldwide as an independent and highly integrated member of the RSM network, which is ranked among the top seven global accounting

networks with more than 35,000 minds, 718 offices in over 110 countries around the world With the practical experience and knowledge built up over working years with largest

international and local accounting firms, RSM Vietnam can provide high quality services to clients with competitive professional fees

Although RSM Vietnam does not belong to top four biggest companies over the world, becoming one of the giant companies in Vietnam after Big 4 (i.e KPMG, EY, PWC, Deloite) is the leading mission of the Company all the time Each year, the senior

management board has a meeting with all the management team to review, assess what the Company has done in recent years and define the development plan for the next stage

Within that meeting this year, all of them have agreed that although the Company has gained lots of achievement as well as certain position in the market, but the challenges has never been seriously like this time

Firstly, there are over 200 companies in this industry and they are willing to provide services with low fees with the purpose of taking up the market

Secondly, everyone knows that retaining current clients is difficult and seeking new one even harder Especially, with the outsourcing company like ours, the work depends too much on clients’ business health Clients earn profit; the Company also gets profit too, and vice versa So far, the world economy has not recovered completely after the crisis, it has required all companies to consider carefully about cost saving and use all internal resources

to gain the competitive advantage and differentiation from competitor To gain that entire mission, the prerequisite is high-quality resources or human resources in particular

In the time being, the number of high quality Vietnamese employees cannot meet market demand; the competition to attract those resources has increased day by day In that context, the retention is recognized as the top action right now Based on the Human

resource report, the turnover rate has been increased significantly and it also shows that the revenue per employees drop down from time to time [from around 300 million per staff to

200 million per staff] In the period of time form October 2014 to June 2015, the turnover rate of the Company has been on uptrend and reaches speak as 20% (in comparison with the general rate of industry as 12% - 15%) The most difficult thing is that the staffs who left job have from three to eight years of work experience Moreover, on the evidence of fierce competition in human resources market, receiving other offer has accounted for half of leaving reasons in both 2014 and 2015

Table 1.1: Turnover rate from 2011 - 2015

(%)

Turnover rate of experienced employees (%) Other offer (%)

2015 22.3 27.8 55.7

Source: RSM Vietnam Human resource Report There are many reasons for this problem As the interview with Partner of the

Company, Mr Le Khanh Lam, who is responsible for the quality of delivering perfect

service to clients, there are some items as below

Figure 1.1: The initial Cause and effect map

Firstly, started from the middle of 2014, due to ineffective business operation, some biggest clients has implemented cost reduction plan This leads to decrease the business corporate scope with RSM Vietnam, and so one-third employee has been laid off

Moreover, since revenue decrease, it is needed to figure out the way to keep the business continue running, the senior management board has decided to freeze some benefits for optimizing operation expenses, for instance: Quarterly Bonus, Year-end Bonus, decrease

Big client has

Decrease revenue Increase cost

Employees feel that it

is hard to be promoted and recognized (performance appraisal)

Cannot attract high quality candidates

So many companies are willing to directly compete

by reducing service fees

companies

High turnover rate

Employees do not put many efforts in daily work and project (achievement) Employees do not agree with company policies (salary, benefits, …)

Employees are easy to be approached by rival companies (Brand identity)

salary rising rate, etc These things make the Company becomes less competitive compared with other rival companies, particularly Big 4 and Vietnamese giants As the effect of that, a number of high-performance resources leaving continue rising month by month At their best, each department has concentrated on finding new clients, marketing brand of the

Company as well as expand business to other potential markets (FDI, Foreign companies, bank, Insurance, Real estate, etc.) in order to offset the lost revenue, but this mission is not easy at all and takes time until the certain result is gained

Secondly, performance appraisal of the Company is not clear and informative

Employees do not feel that their contribution is discovered and recognized at right time, therefore for them; promotion is too difficult to get This also partly leads to low

achievement for any job or project They do not put many efforts; just mainly work in the spirit of responsibility day by day Another related problem is about dissatisfaction of the Company’s polices, chiefly in salary and benefit policies An unattractive salary package is considered as one of the critical problems, especially during this year when the Company is struggling to overcome the influences of decreasing revenue Total average salary and

benefit is not as high as other second-tier companies

Last but not least, local brand identity plays an important role in affecting turnover rate in the Company RSM Vietnam does not attract giant clients as fierce competitors are doing and probably talents will be easily approached by other companies, not the Company

Therefore, these evidences may show that there is a business problem related to human resource management in RSM Vietnam The necessary action at the present is to find exactly the important problem In line with the internal data from the Company and the interview, the poor of job satisfaction, the employee’s commitment to organization is the factors needed to be analyzed and improved

CHAPTER 2 BUSINESS PROBLEM JUSTIFICATION 2.1 Justify the existence of the problem

To justifying the existence of the job satisfaction, must understand sufficiently the meaning of “job satisfaction” and what are the scale items to measure its

Hoppock (1935) defined job satisfaction as any combination of psychological,

physiological and environmental circumstances that cause a person truthfully to say I am satisfied with my job According to this approach although job satisfaction is under the influence of many external factors, it remains something internal that has to do with the way

of how the employee feels That job satisfaction presents a set of factors that cause a feeling

of satisfaction

In order to initially investigate the level of job satisfaction in the Company, a group

of 10 (ten) employees, who are being developed into senior position (experienced), were invited to answer a list of statements that represent possible feelings that they have about the Company

The interview questions are partly based on the previous research named Vocational Psychology Research, Manual for the Minnesota satisfaction questionnaire by (Weiss,

1967), however those are opened-questions to collect as many necessary information

possibly leading to the existence of job dissatisfaction These questions comprise some items describing various aspects of people’s jobs (e.g “The chance to do different things from time to time”, “The way my job provides for steady employment”, “The workload each employee takes over”, etc) All the interviewees aware that their identities are kept

confidential, and there is not any judgment for their answers Therefore, the interview result

is objective and not bias

Most of the interviewees said that they do usually miss the deadline and their current job busy all the time They do not have time for relaxing, go out with friends or take gym because they must spend more 10 hours per working day to finish daily job but never

received Overtime policy

In addition, the Partner acknowledge the “taking a nap in lunchtime”, means that napping is not necessary at workplace; instead, workers can improve their knowledge by reading something useful or research new issued relating to their career For half

interviewees, in negative side, they prefer to take a short rest for approximately 10 to 15 minutes in order not to doze off in the rest afternoon or stay tired

In order side, employees feel that the Company do not care about their contributions for the Company, i.e they rarely received the appropriate praise after they do a good job, but easy to be blamed when has a mistake in work In addition, the behavior make they do not satisfaction with the intrinsic motivation and their supervisors

When being asked about the job characteristic, most of them think that the tax and consulting job is one of most challenging job and usually due to stress in work As a

characteristic of this job was that the rules, the laws could change and supplement day by day and the professional staff must be improving the knowledge by themselves through reading the updated regulations, and maintain the habit to study the customers’ documents

to broaden the experience on treating the real situations However, there are 04 interviewees confess that they like to reading news or chatting via Skype instead do that with the reason

is they have to use this way to get out of stress and feel better

Other people think that the salary is not commensurate with their work and their spending, or with their same-age friends in other organizations The over workload to be handled and the working time over 10 hours per day make they think like that Furthermore, there is not any recognition or promotion from the direct manager when they tried to finish job with a good result is one of the reasons lead to dissatisfaction and start looking around

to find other better opportunity

Based on the above, there are some initial evidences to prove that RSM Vietnam has

a problem with employee’s satisfaction in their work (job satisfaction)

Literature review underlined that the low level of job satisfaction is considered to be associated with the employee loyalty (in other word is mark high rate of turnover intention) and absenteeism In the given case of RSM Vietnam, just in the year 2015, turnover rate is 16.3%, increase 13.2 than 2014, if in 2014 there was only 4% senior staff leaving, the number was 27.8% in 2015 The rise in turnover rate mainly based on the reason: they receive higher offer from other company (i.e Big 4 Company as PWC, EY, KMPMG and Deloitte Touch) While the Company has been loss lost many core employees to its

competitors, finding qualified candidates from outside company is not easy The Turnover

is always costly to an organization in all sector from selection, training and development of personnel (Meyer, Becker, & Vandenberghe, 2004)

2.2 Justify the importance of the problem

Spector (1997) stated that job satisfaction influences people’s attitude towards their jobs and various aspects of their jobs It has to do with the extent to which people like or dislike their job Job satisfaction is a worker’s sense of achievement and success on the job

It is generally perceived to be directly linked to productivity as well as to personal

well-being Job satisfaction implies doing a job one enjoys, doing it well and being rewarded for one’s efforts Job satisfaction further implies enthusiasm and happiness with one’s work

Spector (1997) listed three important features of job satisfaction:

First, organizations should be guided by human values Such organizations will be oriented towards treating workers fairly and with respect In such cases, the assessment of job satisfaction may serve as a good indicator of employee effectiveness High levels of job satisfaction may be sign of a good emotional and mental state of employees

Second, the behavior of workers depending on their level of job satisfaction will affect the functioning and activities of the organization's business From this, it can be concluded that job satisfaction will result in positive behavior and vice versa, dissatisfaction from the work will result in negative behavior of employees

Third, job satisfaction may serve as indicators of organizational activities Through job satisfaction evaluation different levels of satisfaction in different organizational units can be defined, but in turn can serve as a good indication regarding in which organizational unit changes that would boost performance should be made

Therefore, Job satisfaction causes a series of influences on various aspects of

organizational life Some of them such as the influence of job satisfaction on employee productivity, loyalty, commitment, and absenteeism

Employee productivity

The consequences of job satisfaction include better productivity/performance and a reduction in withdrawal and counter-productive behaviors and vice versa (Morrison, 2008) There are many possible moderating variables, the most important of which seems to be rewards If people receive rewards they feel are equitable, they will be satisfying and this is likely to result in greater performance effort

Employee loyalty

Employee loyalty is one of the most significant factors that human resource

managers in particular must have in mind Employee loyalty is usually measured with the Loyalty Questionnaire and can cause serious negative consequences when not in a high level

Usually three types of employee loyalty are considered: affective loyalty, normative loyalty and continuity loyalty Affective loyalty has do with the cases when an employee feels an emotional connection to the company, otherwise normative loyalty is a sort of loyalty that appears in cases when the employee feels like he own something to the

company Continuity loyalty comes as a result of the fact that the employee does not have

an opportunity to find a job somewhere else

Research conducted by (Vandenberg & Lance, 1992) during which they surveyed

100 professional in the information services for five months shown a strong relations between job satisfaction and employee loyalty Their research proved that the higher the degree of job satisfaction the higher is the level of employee loyalty

Organizational commitment

A positive association between job satisfaction and organizational commitment is strongest for affective commitment (Mathieu & Zajac, 1990) The employees who are satisfied with their jobs may develop emotional attachments or high affective commitment

to their organizations (Ketchand & Strawser, 2001)

Employee absenteeism

Employee absenteeism causes serious additional costs for companies, therefore managers are in permanent peruse of ways how to decrease and reduce it to its minimum Probably, the best way to reduce employee absenteeism would be through an increase in the level of employee satisfaction The main idea behind this approach is that the higher the degree of job satisfaction is the lower employee absenteeism should be

Even though the effects are modest, the fact that job satisfaction contributes to

decreasing the level of employee absenteeism remains So satisfaction is worth paying attention to, especially since it is potentially under your control – unlike some of the other causes of absenteeism (e.g illness, accidents) However, others said circumstances can alter this equation A manager could be implicitly encouraging absenteeism by enforcing

company policies If people are paid for sick days, and if they must be “used or lost” this is strong encouragement for employees to be absent In other words, you’ve helped create a culture of absenteeism that can overcome the “satisfaction” effect (Sweeney & McFarlin,

2002)

When satisfaction is high, absenteeism tends to be low; when satisfaction is low, absenteeism tends to be high However, as with the other relationships with satisfaction, there are moderating variables such as the degree to which people feel their jobs are

important Additionally, it is important to remember that while high job satisfaction will not necessarily result in low absenteeism, low job satisfaction is likely to bring about high absenteeism

Overall, the poor of job satisfaction is a significant problem/issue in RSM Vietnam, which needs to be control with effective HR strategies

CHAPTER 3 CAUSE VALIDATION 3.1 List the potential causes of the problem

Job satisfaction is the key ingredient that leads to recognition, income, promotion, and the achievement of other goals that lead to a feeling of fulfillment (Kaliski &

Macmillan Reference, 2007) Job satisfaction can be considered as one of the main factors when it comes to efficiency and effectiveness of business organizations In fact, the new managerial paradigm, which insists that employees should be treated and considered

primarily as human beans that have their own wants, needs, personal desires, is a very good indicator for the importance of job satisfaction in contemporary companies When analyzing job satisfaction, the logic that a satisfied employee is a happy employee and a happy

employee is a successful employee

(Swathi, 2014) suggested that there is a positive relation between organizational culture and employee satisfaction, and using a survey of 100 employees to study the

relationship between organization culture and employee satisfaction

(Williams, 1995) found that employee benefits affect job satisfaction Another

difference can be attributed to the perspective, i.e job satisfaction is more of an employee’s perspective and employee satisfaction is more of the organization’s perspective

Literature has been proved that there are variety of factors affect to job satisfaction, they are:

Table 3.1: The description of nine facets of job satisfaction

Promotion Satisfaction with promotion opportunities

Supervision Satisfaction with person’s immediate supervision

Fringe benefits Satisfaction with monetary and non-monetary fringe benefits

Nature of work Satisfaction with type of work done

Communication Satisfaction with communication within the organization

(Spector, 1997)

Table 3.2: The potential causes of Low level of Organizational Commitment

1 Recognition “The organization’s recognition is

argued to be a critical reward afforded

by organizations to employees This recognition is critical because it is partially answers the question of identity; of who the individual is;

what talents she/he has; what role she/he plays in the life of others; what accomplishment she/he has made; and how she/he contributes to the

organization’s goal and success.”

(Bjarnason, 2009)

+ - Influence (recognition

of the employee’s judgment and role within the organization through giving

employees opportunities to influence the organization)

- Skill-utilization (recognition of the individual’s skills and abilities through utilization of skills)

- Approval (recognition

of employees’

accomplishments through approval of these)

- Does your company currently offer an employee recognition program?

- How valuable is

peer-to-peer recognition at your company?

- When you do a good job,

do you receive the recognition for it that you should receive?

- Do your company have these form of recognition: (i) Coworker recognition for a good job

(ii) Collection of points to redeem for gifts

(iii) Monetary compensation (iv) Paid time off (v) Certificate of achievement (vi) Recognition at all-company public function

2 Income/ pay “satisfaction depends on income

relative to a comparison or reference level”

satisfaction with compensation

Being paid fairly for the work that you do is important to your

“Satisfaction with pay is the most obvious component of job satisfaction through which workers would express dissatisfaction with rising income inequality”

(Wenshu & Smyth, 2010)

“Job satisfaction level is less for employees, who receive less amount

of pay whereas higher amount receiving employees have high level

of satisfaction…Pay is an imperative factor for job satisfaction”

(Malik et al., 2012)

- Income Level and Satisfaction with Work (Itself)

- Income Level and Satisfaction with Promotion

- Income Level and Satisfaction with Supervisor

satisfaction on the job, isn’t it?

“The reassignment of an employee to

a higher-rank of job”

(Malik et al., 2012)

“Promotion is said to be happened when an employee makes a shift in the upward direction in organizational

of greater authority and control

- Significant change in the wage package of an employee

- Productive employees and effective distributor

in the organization (Naveed et al., 2011)

- Does your Company have

reward/promotion policy?

- Is it easy to get a higher position in your Company?

- Which are requirement to get that?

- Is the reward amount high?

hierarchy and moves to a place of greater responsibility”

(Naveed et al., 2011)

defined as the purpose of task engagement and the specific type of goal adopted is posited to create a framework for how individuals interpret, experience, and act in their achievement pursuits”

(Elliot & Church, 1997)

(developing their competence and acquiring new skills)

- Mastery-Approach (Mastery-orientated individuals are assumed

to be motivated to either focus on the development of competence through task mastery)

- Mastery-Avoidance (Mastery-orientated individuals are assumed

to be motivated to strive to avoid deterioration/leaving the task incomplete)

- orientation (demonstration and verification of their ability)

- Performance-Approach (Performance-orientated individuals

Performance It is important for me

to understand things as thoroughly as possible (Mastery-Approach)

- I worry that I may not learn all that I possibly could (Mastery-Avoidance)

- It is important for me to

do better than others (Performance-Approach)

- My fear of performing poorly is often what motivates me

(Performance-Avoidance)

- I am satisfied with my overall

job performance at present

- I enjoy difficult work

- I often set goals that are difficult to reach

- I try to avoid failure at all costs

(Elliot & Church, 1997)

can be motivated either

to demonstrate superior competence relative to others)

- Avoidance (Performance-orientated individuals can be motivated either

Performance-to avoid demonstrating inferior competence relative to others) (Avery, Smillie, &

Fife-Schaw, 2015)

5 Organizational

culture “Organizational culture is the pattern of basic assumptions that a group has

invented, or discovered in learning to cope with its problems of external adaptation and internal

integration, and that have worked well enough to be considered valid and, therefore, to be taught to new members as the correct way to perceive, think, and feel in relation to those problems”

“Organizational culture is a set of values, symbols and rituals, shared by the members of a specific firm, which describes the way things are done in

Members can take responsibility to efficiently finish the assigned tasks

Organizations assure employees of the special award)

- Adaptive culture (The features of the said culture can satisfy

- The coherent power of my company is high emphasis

on work performance and targeted

achievement

- All company members can pay close attention to work performance and achievement orientation

- All company members are vested with the spirit of innovation and adventure

- My company aggressively makes R&D effort for novel products and strategies in the hope of

order to solve both internal management problems and those related to customers, suppliers and environment”

“Organizational culture is a combination of

value system and assumptions which lead an organization to run its

business”

(Belias et al., 2015)

customers’ demands by means of the strategy focus on external environment)

- Clan culture (The emphasis lies in the involvement of members and the expectation on the quick changes of external environment

The said culture emphasizes that members shall play the role with high

efficiency and they shall express the strong responsibility sense of involvement and show more

organizational commitment)

- Bureaucratic Culture (The said

organizational culture can provide a

systematic method to perform commercial activities Also, by means of the high consistency, obedience

becoming the innovator among peering industries

- My company highly emphasizes humanity and respect to every member just like a large family

- My company highly emphasizes development of human resource, being kind

to employees and encouraging teamwork cooperation

- The coherent power of my company is employees’ loyalty and devotion to my company

and high emphasis on teamwork cooperation

- My company is well regulated and all members severely obey work codes for daily tasks

- The power to enhance the coherence of my company

is high emphasis of organization codes and policies and the

maintenance of normal administrative operation

and cooperation among members, it can

enhance organizational activities and

- Does your current benefit make you satisfied?

Figure 3.1: Potential cause and effect of low level of job satisfaction

Low level of Job satisfaction

( Malik, Danish, & Munir, 2012)

( Naveed, Ahmad, & Bushra, 2011)

3.2 Cause justification

In this research, a group of five employees has been invited to take part in a mini focus group with the purpose of evaluating which causes have important effect on job

satisfaction in RSM Vietnam The data for the study was collected by using the

questionnaire as the method for data collection, including eight questions about the six potential causes This interview covers as much other sub aspects as possible which affect the potential causes as Recognition, Income/pay, Promotion, Achievement, Organizational culture, Employee benefit for more thorough research This research covers employees’ position from new employees, assistance, senior and manager In addition to main questions given to interviewees, sub questions or clues are also included in the survey making them easily understand as well as freely discuss to verify the root causes, which actually play an important role in level of job satisfaction in RSM Vietnam

The description table of interview results is displayed in Section 5.4 – Supporting Information, which has eight questions with 5 interviewees about which the causes are and how they affect the level of job satisfaction in RSM Vietnam From the result of the focus group, there are four causes and the rank of them in order of importance as follows: Income/ pay, Promotion/reward, Achievement and Recognition

Income/pay

The income is considered as one of the most positively significant effects on

employees’ job satisfaction Employees may have reported higher levels of satisfaction perhaps because they are motivated by receiving high income for their job effort One of reasons that people chose this kind of job is the decent income (everyone should be entitled

to a decent wage/standard of living)

Almost correspondents stated that when an employee applies for job, the first and most important thing they consider is how much they will be paid monthly and whether such amount meet their basic living conditions

Another opinion is that the income/pay is considered as one of recognition for employee’ contribution in any organization He explained that in case that you work hard and put a lot of efforts but finally what you receive does not match with what you make contribution For instance, he said that there was one big project that he got a big project from other competitors in the market, however it was extremely time-consuming and exhausting What is worse, he did not receive an increase in salary for the next year

The remained idea is that higher income will lead to higher productivity in work and vice versa If people feel satisfied with their current income, they will focus completely in job, in other words, if such amount of money is not adapted their demand, sooner or after they will look for another company with better benefit In the time-being, some employees chose to do extra work for extra money such as online trading, Grab-bike driving,…

Promotion/reward

The important second- ranking cause is the promotion/reward system in an

organization It is acknowledged that any company also has its own the promotion/reward policy, however, whether it is good or makes employees feel satisfied should be discussed

All correspondents said that the Company’s policy regulates that only excellent employees with over-performance in the previous year will be allowed to jump up level, it means that they will hold a higher position as well as take considerable power However, the number of promoted employees is limited and extremely difficult to get Furthermore, performance appraisal is a bit subjective and not clear Therefore, this actually discourages

employees from working hard to create more values for the Company as they do not feel motivated

Another issue is about monetary reward policy Employees receive an extra amount

of money, so-called bonus, quarterly and yearly, but if such amount is not significant or even small, this will lead to low happiness and low satisfaction, one stated that One more thing is that all employees are received the same amount not depending on their position This will also make employees stay firmly in their current position, not endeavor to set them

as outstanding employees in the organization Under the benefit of the promotion/reward, the employees themselves feel to be an effective contributor and thus will be more satisfied with their job How can we keep those employees engaged, committed, loyal and focused? Reward them with respect

Recognition

This empirical interview shows that there is a relationship between recognition and employees’ level of satisfaction Recognition plays a significant role in creating happiness

as well as motivation for better work All interviewees confirm that the Company has

recognition policy, it takes place in the year-end period If they are recognized for their excellent performance during the fiscal year, they will be received “Certificate of excellent performance employee” and a little amount of money However, the most confusing thing is they do not know how this procedure is evaluated to choose the competent ones and which criteria are based on

For almost interviewees, they acknowledge that a “thank you” or just turning around saying “how things are going on” is much more powerful than a bonus – employees want to know that their work is contributing to a greater good and helping to shape their career progression trajectory

All correspondents agreed that recognition programs demonstrate respect for your employees A meaningful, thoughtful employee appreciation program is about valuing employees' efforts and having respect for who they are and what they do As having an employee recognition program not only can keep your company from capsizing, it can increase productivity and raise revenues The ability to effectively thank, reveal and coach with recognition can make a sustained difference to an employee's career and a company's future Therefore, if an organization has a good recognition program, this will make

employees more motivated and satisfied with their job

Another said that the spirit of achievement in the Company is not very high if

compared with other Big4 companies Employees here just do their daily assigned tasks from the leader, not actively ask for other tasks to do more, even though they have free time The reason is they do not have clear vision and plan for career by themselves

In contrast, another correspondent showed that setting and achieving goal career are extremely important for anyone Because once they reach to that, they will be satisfied with themselves and what they have done and feel confident in keeping things going forward

The final opinion is that the achievement leads to high job satisfaction and vice versa Take an example for this If people always reach goals they set up, they will get excited with job and the company More importantly, they will surely be admired from other colleagues Thus, this will possibly lead to engage in this company for longer

The next chapter will propose the list of potential solutions, which are expected to help increase the level of job satisfaction at RSM Vietnam

Figure 3.2: The final Causes and Effect map

Low level of Job satisfaction

CHAPTER 4 SOLUTION INDENTIFICATION

4.1 Potential solutions development

When promoting job satisfaction amongst social workers, a question of which key elements is important in helping to create and maintain job satisfaction

The author has searched for potential solution to make an improvement to the low level of job satisfaction in RSM Vietnam based on the previous research as well as the above focus group interview, as details:

Income/ pay

To provide an attractive income/pay policy to employees in RSM Vietnam, the

Company should research and find out the average salary in the market For instance, when compared to other competitors in the same industry, the Company’s monthly fixed amount

of money is not the same as theirs In addition, annual pay raise level is also smaller than theirs From the above, some of suggestions should be taken into consideration and taken swift actions as the following:

- The Company should brainstorm improvements in the income/pay policy at suitable

level for retaining employees from being taken by other competitive companies That increase amount often does not make the Company incur significant cost in

comparison with those of recruiting new employees

- Based on the empirical interview, almost employees in the Company get pay raise

annually under the result of Employee Performance Appraisal, however some does not The main problem is that no clearing policy is publicized, so those employees feel not satisfied with this result and lead to the environment full of doubt and