Research about employee’s motivation at sales department in ho chi minh city prudential finance

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OUM OPEN MALAYSIA UNIVERSITY RESEARCH PROJECT (BMBR5103) RESEARCH ABOUT EMPLOYEE’S MOTIVATION AT SALES DEPARTMENT IN HO CHI MINH CITY PRUDENTIAL FINANCE STUDENT FULL NAME : LE HONG CHUONG STUDENT ID : CGS00064969 INTAKE : MAY, 2017 ADVISOR'S NAME AND TITLE : DR BUI PHI HUNG July, 2017 W H C M P F Abstract How to make employees work effectively? How to keep employees motivated to work This is a problem that any manager encountered There are many theories concerning motivation in which Hezberg's two-factor theory can be broadly described and adapted to the motivations of employees in companies and organizations In this study, 344 samples were selected and collected from sales staff from four branches of Prudential Finance Data were analyzed by SPSS software and qualitative research methods and questionnaires were used The research results show the four factors affect the motivation of the HCMC branch office staff: Individual development opportunity, Company policy, Nature of work, Supervisor leaderships These four factors divide the intrinsic motivation and extrinsic motivation of Hezberg's theory Analyze and assess further to clearly see the relationship between the factors and their impact on the motivation of the employee From there, there are solutions that help the company to improve employee motivation Acknowledge On the occasion of the completion of the dissertation I would like to thank all those who assisted me while I was doing my course and attended the course Firstly, I thank my family and especially my wife for taking care of my family so that I have time to attend the course Secondly, I would like to thank the teachers who guided me in this course and especially Dr Bui Phi Hung who led me to this thesis Third, I thank the board of directors and colleagues of Prudential Finace for making time and funding for this course In the end, I would like to thank my fellow students and staff from the sales department of Prudential Finance, Ho Chi Minh City, for their participation in this thesis Summary This dissertation to answer the question: "What factor affect employee motivation at sales department in Ho Chi Minh Prudential Finance" The content of the research clearly identifies the factors that affect the motivation of an employee, thus changing the company to improve the performance of the employee Research using quantitative methods, 25 questionnaires and sampling results were analyzed and quantified using SPSS software to find the end result of which factors influenced motivation of employee LE HONG CHUONG August 7, 2017 Contents Chapter – Introduction 1.1 Research Aims 1.2 Research Questions 1.3 Context and relevance 1.4 Scope of research 1.5 Structure of the Paper Chapter - Literature Review 2.1 Introduction 2.2 Motivational Review 2.2.1 Intrinsic & Extrinsic Motivation 2.3 The importance of motivating employees in the organization 10 2.4 Staff satisfaction affects performance 11 2.5 Motivational Theories & Concept 11 2.6 Herzberg’s Two Factor Theory 13 2.7 Conclusion 14 2.8 Conceptual Framework 15 CHAPTER – Research Methodology 16 3.1 Introduction 16 3.2 Research Approach 16 3.3 Qualitative and Quantitative data 17 3.4 Research Design 17 3.5 Data Collection 17 3.6 Data Analysis 18 3.7 Validity and Reliability 18 3.8 Limitations 19 3.9 Conclusion 19 Chapter - Finding 20 4.1 Sample description 20 4.1.1 Age 20 4.1.2 Sex 21 4.1.3 Working Experience 21 4.1.4 Position 22 August 7, 2017 W H C M P F -4.2 Analyze and evaluate Cronbach's Alpha reliability 22 4.2.1 Variable description 23 4.2.2 Cronbach's Alpha reliability 24 4.3 EFA analysis 29 4.3.1 Variable independence - EFA analysis 29 4.3.2 Variable dependence - EFA analysis 33 4.3.3 Model calibrated by EFA 35 4.3.4 Build hypotheses 35 4.4 Regression analysis 36 4.4.1 Evaluate the suitability of the model 36 4.4.2 Analysis of variance 37 4.4.3 Statistical parameters of each variable in the model 37 4.4.4 Hypothesis test results 39 CHAPTER 5: CONCLUSION AND SOLUTION 40 5.1 Introduction 40 5.2 Conclusion 40 5.3 Recommendation - Solution 40 5.3.1 Individual development opportunity factor 41 5.3.2 Company p o l i c y F a c t o r 43 5.3.3 N a t u r e o f w o r k f a c t o r 43 5.3.4 Supervisor leadership factor 44 5.4 Limitation of research 44 5.5 Further research directions 45 Bibliography 45 LE HONG CHUONG August 7, 2017 Chapter – Introduction 1.1 Research Aims Motivation plays a key role in employee job performance Thus, employee motivation has long been a central research topic for scholars and practitioners The purpose of this study was to identify factors that may affect the motivation of sales staff at Prudential Finance, Ho Chi Minh branch From there, there are incentives and motivation for employees to improve their performance In addition, the company's orientation in personnel policy, recruitment, training to help employees maintain motivation to work continuously The working environment is efficient, employees show themselves as important factors in keeping the staff working with the company as long as the quality of human resources from outside This is one of the competitive advantages of human resources compared to competitors in the industry 1.2 Research Questions The miniature research framework is Prudential's Ho Chi Minh City sales staff so the questionnaire for research is also within Ho Chi Minh City and it is easy to carry out research The question is "What factor affect to employee’s motivation at sales department in Ho Chi Minh Prudential Finance" Clarifying and providing answers to this question clarifies the key issues affecting the motivation of the sales staff of Prudential Finance in HCM City 1.3 Context and relevance Why employees have years of experience, productivity has declined? How to increase the productivity of sales staff? Why are there employees who are high paid and have good positions in the company but move the new company with the same salary and position? One of the reasons is that they lack motivation to work How to motivate employees? What points should focus on the employee motivation process? All of this is the concern of the managers, personnel management of every business Prudential Finance operates in the area of finance and personal loan products Of a total of nearly 2000 employees Salespeople account for 1,700 people, of which 500 are from Ho Chi Minh The company encounters similar cases as mentioned above, the business division has implemented a variety of methods to increase the productivity of sales staff, motivate the sales August 7, 2017 W H C M P F staff by bonus schemes, promoting But the effect was not as expected, the staff turnover rate has not improved, productivity has not improved Within the research scope of this dessertation, we will study and outline the key factors that affect the motivation of the sales force staff in the HCM City area so that a rational policy of creating motivation to work for employees 1.4 Scope of research Motivation research has many different views in the work of scientists They approach motivation in two groups of doctrines: One is the content theory group as Maslow's Hierarchy of Needs (Maslow, 1943), Two-Factor Theory (Herzberg, 1959) show how to approach the needs of managerial labor The other two are the theory of the process as of Expectancy theory of motivation (Vroom, 1963, 1969), Equity theory (Adams, 1963, 1969) Reinforcement theory of motivation (Skinner) research the causes of various actions in the work of the individual For a limited amount of time, this paper only uses Herzberg’s Two- Factor to base the theory of research In order to ensure the time and ability to allow this study paper is only made at Prudential Finance branch in Ho Chi Minh City But the results of the research can be considered nationwide, as the sales team as well as turnover account for 60% of the company across the country The research question was randomly distributed to 300 employees in Prudential Finance sales team Ho Chi Minh branch 1.5 Structure of the Paper This research is structured into six chapters, easily aligned with the system Chapter one, briefly explains the context of research options Summarize the topic, identify and select the theoretical background to study This chapter also identifies the scope and limitations of the study Furthermore, the first chapter contains explanations of the studies aimed at the goals and objectives, and includes the structure of the study Chapter two reads and discusses and analyzes studies and theoretical frameworks relevant to the subject being studied This helps the researcher have deep knowledge about the topic he is doing Besides, this chapter contains definitions of main terms and Explained search strategy for secondary data LE HONG CHUONG August 7, 2017 Chapter three, provides different approaches of research design implementation Furthermore, the mixture of methods, sample sizes, reliability and validity as well as ethical considerations will be discussed further in this chapter In addition, chapter four provides statistical analysis of the results established using SPSS Presentation of key result data has been facilitated through bar charts / pie charts This chapter plays an important role in achieving research goals and objectives The results of the literature review were compared with the main data findings in this chapter, and the depth of discussion was provided regarding each individual research goal However, the fifth chapter discusses this further along with recommendations for backing up with literature The results of the literature review were compared with the main data findings in this chapter, and the depth of discussion was provided regarding each individual research goal Includes summaries and conclusions based on found evidence and future research areas needed Chapter - Literature Review 2.1 Introduction How to increase the productivity of employees? Or how long-term employees not feel boring work Just as to answer the question "Why are there people who are not satisfied with their current job?" To solve the above problems, one of the inevitable requirements is to create motivation for the staff Managers must be motivated to work for their employees so they can work more effectively and more closely with the company Increasing base salary, increasing income or promoting employees these are just one of the factors, not all, in the motivational process There are many factors that motivate employees As (Massey and Brown, 1998) diversity and interest in work (Brehm and Gates , 1997) Argue that salaries are just one of the motivating factors This article aims to clarify which factors affect the motivation of employees, namely the sales staff of Prudential Finance at the HCMC branch 2.2 Motivational Review We all feel familiar with the concept of motivation and yet, when asked to, we struggle to find a proper definition In fact, no less than 140 distinct definitions Thus, if we are to answer the question of how to motivate public employees, we first need to understand what motivation August 7, 2017 W H C M P F exactly does mean This chapter clarifies the notion of motivation as well as illuminates different facets of the concept Labor motivation is the willingness and willingness of the employees to increase their efforts towards achieving the goals of the organization Under this understanding, labor motivation does not stem from any coercion, it does not arise from administrative orders, it does not manifest through words but through concrete action it exits From the inside of the worker Motivation refers to "the underlying underlying behavior" (Guay, 2010) There are those who think wrongly that motivation is a human characteristic so there will be people who have and who not have this characteristic According to (Danish, R Q., Khalid Khan, M., Shahid, A U., Reza, & & Humayon, A A , 2015) Motivation is influenced by many factors, which are frequently changing, abstract and elusive The first is the factor that belongs to the worker himself, such as self-direction, authority, memory, and feelings The second component, the degree of influence and control of individual behavior The third component is the ability to maintain motivational behaviors (Denibutun, 2012) Has reasearch "Working Motivation: Theoretical Framework" Discover the difference between motivational theories and motivational considerations as a basic human psychological process Motivational theories help explain the behavior of a certain person at a given moment Or as research shows, employees will feel unhappy if we only provide health care, medical factors without a motivational element Employees will not bring high performance ( Ghahremani Germi & Delghavi, 2014) 2.2.1 Intrinsic & Extrinsic Motivation In every human being, intrinsic motivation is not the only form of motivation or even voluntary activity But it is very important in human life Thanks to it, since we were born, we have learned, learned, developed and become human Intrinsic motivation in labor is when an employee engages in activities to satisfy their curiosity, interest, passion or desire to overcome the challenge themselves For example, salespeople want to conquer difficult customers, have high incomes and have many difficult questions for sellers What are salespeople going to learn about the behavior of high-income customers? How often they have thoughts? From which they can confidently reach these customers They view persuading a hard-earned customer to buy his company's products as a win Intrinsic motivation refers to doing something because the task itself is interesting or enjoyable (Deci and Ryan, 2000) Intrinsic motivation is important to the employee because it gives the employee a sense of self-confidence and creativity at work But LE HONG CHUONG August 7, 2017 intrinsic motivation will not be sustained long enough for an employee if the employee does not receive the incentive and recognition of the manager or company (Rizwan Qaiser Danish1*, 2015) Intrinsic rewards moderately correlated with task performance and there was a full mediation of extrinsic and intrinsic motivation and slightly low mediation of job satisfaction with the dependent and independent variable of the study The employees who are appreciated by intrinsic rewards within the organization not only perform well according to their job description but also get motivated positively for welfare of organization and for them Employees struggle when their organization appreciate their work, reward them, respect them and consider them as a vital part of the organization The employee efficienthly their jobs, behave effectively in the performance appraisal techniques can be improved by paying attention on human resource management approaches that improve the performance of the organization Extrinsic motivation occurs when we are motivated to perform a reward or avoid action Extrinsic motivation can also occur when the person receives guidance, inspiration from another person Extrinsic motivation can be defined as doing something because it leads to a decisive outcome (Deci and Ryan, 2000) For example, a team leader of sales team A always finds that the monthly sales target that the company assigns to our team is always high and difficult to reach, and the leader team will have negative thoughts and leads To the bad impact on the team members But when he was the manager of the show business good results of a team B has the same sales target as himself The manager explains how to get Team B to achieve good business results in the same article The Teamleader of Team A sees that we and our team can it and start having positive actions (Rynes, Gerhart, and Minette, 2004) Relating to job evaluation, extrinsic motivation, especially money and pay rewards, are a very important motivator to make a decision on whether to join an Extrinsic motivation and intrinsic motivation are both important ways of driving behavior To comprehend how these can be best utilized, it is important to understand some of the key differences between the two types of motivation including the impact that each one has on behavior The organization or manager needs to create a good working environment and policies to promote extrinsic motivation and intrinsic motivation in the company and employee life August 7, 2017 W H C M P F 2.3 The importance of motivating employees in the organization Having answered the question of what motivation is, the next question is why it is important for management, and moreover why it should be of special interest to managers in the public sector It focuses on three parts: First, it reflects on the effects of motivation on employee performance; second, it establishes motivation as a managerial duty; and third, it explicates the importance of employee motivation in the public sphere What makes motivation so important? In one word, the answer is “performance” In the market economy, enterprises want to survive and develop, in addition to the infrastructure is equipped with modern, advanced, need to maximize human resources Because people are the most important factor for business success Having a loyal and dedicated team for business is something any leader wants to achieve How to create motivation for employees, maintain a human resource with enthusiasm, enthusiasm and high efficiency work is always a question that the leaders pay attention and put much effort to find out answer There are 14 motivational factors, which were translated to 46 concrete and practical tactics that can help motivate public employees Furthermore, it was demonstrated how the different tactics can be combined to tackle a specific problem that the public sector confronts Motivation is an individual phenomenon, thus a one-size-fits-all approach to employee motivation does not work, and there is no recipe for motivation (Yair Re’em, 2010) Motivation is an essential area, which can lead to high quality of work life, and, indirectly, to better worklife balance Organization of well established motivational systems increase employee loyalty, which, in turn, boost work performance (Zijada Rahimića, Emina Resićb, Amra Kožoc, c* a, , 2012) Identify factors that employees think are essential to motivating the job: job evaluation, hope to advance, becoming more autonomous in affairs, specifying the limits and duties Organizational objectives, giving more employee freedom of choice and discretion, paying attention to innovation, endeavoring work, removing the tight control, more desirability of work, the authority of moral support, and the on-the-job Training (Hooman Khoshnevisa,*, Abbas Tahmasebib, 2016) Salary of workers, professional advancement and opportunity for promotion appear to be the most important factors of motivation The other important factors that the study revealed are work conditions, as well as the evaluation and the objective assessment of performance measurement (Naim Ismajli*, Zekiri, Ermira Qosja, Krasniqi, 2015) The effects of motivation not stop with performance Motivated employees feel less stress, enjoy their work, and as a result have better physical and mental health (Robison, 2010) Furthermore, motivated LE HONG CHUONG August 7, 2017 10 W H C M P F 4.4 Regression analysis Theoretical models have nine factors to explore: "Nature of work", "Individual development opportunity", "Recognition", "Promotion", "Supervisor leadership", "Salary", "Policy of company", "Working Condition "," motivation " In particular, motivational is a dependent concept; the other three concepts are independent concepts and are assumed to be factors that influence the motivation of workers to work Conduct regression analysis to determine the specific weighting of each factor affecting employee motivation The value of the factors used to compute the regression is the mean of the observed observation variables Regression analysis is performed by the total regression of variables (Enter method) with SPSS20.0 software 4.4.1 Evaluate the suitability of the model Model R 563a R Square 317 Model Summaryb Adjusted R Square 301 Std Error of the Durbin- Estimate Watson 454 1.922 a Predictors: (Constant), MAN, DEV, SAL, PRO, REC, WOC, POL, WOR b Dependent Variable: MOT Linear regression analysis showed that the model had R Square = 0.317 and Adjusted R Square = 0.967 The fit of the model is 30.1% or, in other words, 30.1% The variation of the "motivation" variable is the general explanation of the observed variables LE HONG CHUONG August 7, 2017 36 4.4.2 Analysis of variance Model Sum of Squares ANOVAa df Mean Square F Sig 19.477 000b Regression 32.125 4.016 Residual 69.066 335 206 Total 101.191 343 a Dependent Variable: MOT b Predictors: (Constant), MAN, DEV, SAL, PRO, REC, WOC, POL, WOR Analysis of ANOVA shows that the parameter F has sig = 0.000, indicating that the regression model is consistent with the data set obtained, and the variables included are statistically significant at a 5% significance level Thus, the independent variables in the model are related to the dependent variable "Motivation" 4.4.3 Statistical parameters of each variable in the model Coefficientsa Unstandardized Standardized Coefficients Coefficients Model B Std Error (Constant) 1.341 336 WOR 162 042 REC 044 DEV t Sig Collinearity Statistics Beta Tolerance VIF 3.989 000 211 3.902 000 694 1.440 033 061 1.345 179 976 1.025 266 034 384 7.764 000 833 1.201 PRO 023 026 041 899 369 986 1.014 SAL 050 029 079 1.724 086 980 1.020 POL 139 028 244 4.984 000 850 1.177 WOC 039 023 078 1.679 094 950 1.053 MAN 114 041 151 2.776 006 689 1.452 a Dependent Variable: MOT August 7, 2017 37 W H C M P F The results of the regression analysis show that the model does not violate multi-collinearity due to the coefficient of variance of the independent variables (VIF) is less than Selfcorrelation phenomenon (chain correlation) is not Need to consider, because the data to run the model is not a time series data The regression result of independent variables Sig value Less than 0.05 are variables that affect the motivation of the worker and affect the same direction According to the results shown in the table above, independent variables such as WOR, DEV, POL, and MAN affect employee motivation All of these factors are significant in the model and affect the same direction of motivation, as the regression coefficients are positive As follows: Standardized Coefficients (Beta) "Nature of work" (WOR) is 0.211, "Individual development opportunity" (DEV) is 0.384, "Policy of company"(POL) is 0.244 and "Supervisor leadership" (MAN) is 0.15 At this point, we can write the normalized regression equation for this model as follows: MOT = 0.211* WOR+ 0.384*DEV+ 0.244*POL+0.15*MAN In that: - MOT: Employee’s motivation - WOR: Nature of work - DEV: Iidividual development opportunity - POL: Company policy - MAN: Supervisor leadership This model explains 30.1% of the variation of the MOT variable due to the four "Nature of Work" (WOR), "Individual development opportunity" (DEV), Policy of company (POL) and "Supervisor leadership" "(MAN) in the generated model.Through the regression equation we find that when the score of the individual's growth motive increases by one point, the motive change increases to 0.384 points, leaving unchanged independent variables unchanged Similarly, when the score on Corporate Policy increased by one point, motivation increased to 0.244, leaving unchanged independent variables unchanged; when the score of Work increased to point, the motivation increased to 0.211 points, leaving the remaining independent variables remaining Or, as the supervisor leadership score increased by one point, motivation increased LE HONG CHUONG August 7, 2017 38 to 0.15 points, keeping the remaining independent variables constant According to the above regression equation, the important order of the components affecting the motivation is listed as follows: DEV: 0.384; POL: 0.244; WOR: 0.211; MAN: 0.15 The most influential factor in the motivation of Prudential Finance's HCMC branch is Individual development policy, second is company policy, third is the nature of work, and finally Factors directly related to the relationship of the superior, the leader 4.4.4 Hypothesis test results Hypothesis H1 H2 H3 H4 H5 H6 H7 H8 Employee perceptions of job factors are increasing (decreasing), the motivation for employees to increase (decrease) Employee perceptions of the opportunities for self-development increase (decrease) motivate the employee to increase (decrease) Employee perceptions of the factors that record achievement in job gains (decreases) motivate motivated employees to increase (decrease) Employee perceptions of the rise in job gains are motivating motivations for employees to increase (decrease) Employee perceptions of manager attitudes and increased (decreased) relationships motivate employees to increase (decrease) The employee's perceptions of salary increases (incentives) increase incentives for employees to increase (decrease) Employee perception of corporate policy factors (downsizing) motivates employees to increase (decrease) Employee perceptions of working conditions increase (decrease), the motivation for employees to increase (decrease) Test results Accepted Accepted denied denied Accepted denied Accepted denied August 7, 2017 39 W H C M P F CHAPTER 5: CONCLUSION AND SOLUTION 5.1 Introduction Research results for the topic "What factors affect employee’s motivation at Sales department in Ho Chi Minh Prudential Finance" are presented in this chapter Based on what is learned from the research Provides a broad overview of the level of staffing needs of Prudential Finance and provides solutions for companies to improve efficiency through the development of motivational factors for employees The limitations of the research as well as the direction of future research are discussed here 5.2 Conclusion Based on Hezberg's two-factor theory as a basis for studying the dynamics of the sales force at the PVFC branch HCM The theory is that working people are motivated by two groups of intrinsic motivation and extrinsic motivation From here, the nine elements studied ("Nature of work", "Individual development opportunity", "Recognition", "Promotion", "Supervisor leadership", "Salary", "Policy of company", "Working Condition" And a 25-question questionnaire and samples on 344 sales staff The research results show that there are factors influencing the motivation of PVFC HCM's employees: Job nature, company policy for employees, personal development opportunities, the last, the relationship with the leadership There may be different opinions on motivational but through research, the four factors mentioned above reflect the actual motivational status of Prudential Finance in HCMC There are many theories about motivation, but Hezberg's theory of two factors is relevant to the corporate environment Because the theory divides the nature of motivation for workers, inside and outside environment This will make it easy for companies and managers to set goals that motivate employees to go to work 5.3 Recommendation - Solution The resources of each business are limited, so after identifying the main components and their impact on employee motivation, Prudential Finance should focus resources on improving performance Relevant issues in order of priority: LE HONG CHUONG August 7, 2017 40 (1) Individual development opportunity (2) C o m p a n y p o l i c y (3) N a t u r e o f w o r k (4) Supervisor leadership 5.3.1 Individual development opportunity factor The success of each organization depends greatly on training and development plans As a management leader, one of your important tasks is to ensure that your knowledge and skills are updated regularly Recognizing the importance of employee training and development and setting it up as a top priority task, organizations can inherit unexpectedly high profits Improve work efficiency The timely and appropriate training program will contribute to improving the performance of the work By improving the limitations in skills, knowledge and work, and equipping employees with new ideas and skills that can be applied immediately to their work, competence and confidence They have also been strengthened since As a result, employees can make better decisions and work smarter and more efficiently Return on investment (ROI) As training and development has been guided as a top priority strategy, as well as being carefully and purposely implemented, organizations can benefit and measure ROI - from It is important here that the organization should recognize training and development as an investment rather than a cost, with the incentive to conquer the set objectives Reinforce and retain employees Once you have invested in the training and development of your employees, you will help your employees feel more connected, more valuable, more responsible and dedicated to the job as well as as an important part of the collective Nobody dares to expect any staff member to stick to a career with their organization and not necessarily, but they are strong enough to reinforce loyalty and retain employees for long periods of time Training and development are not only a tool for improving knowledge and skills, but also a rewarding and rewarding staff August 7, 2017 41 W H C M P F with great potential and high achievement The main purpose of all training and development programs - especially tailored internal courses - is always Teambuilding This is a time where employees get closer together, reinforces organizational culture, and helps each team member find new partnerships or specialist technical advisories within the organization To foster the learning culture within the organization Building and cultivating a learning culture is not important, on the one hand because it is always an expectation from the beginning, on the other hand the potential benefits that employees and organizations can all share It is also important to be able to show success in the organization, and to prove it through action In addition, equally important is the story "real people" real success typical in the organization as well as the spirit "words always go hand in hand with action  Recommendation: Training programs and other opportunities to develop new skills Set appropriate challenges Give potential employees the opportunity to deal with the work or product in question Develop top class employees - Rotate jobs for Class A employees in different work environments - Assign good employees to special projects These projects, with clear goals and timelines, give employees the opportunity to practice problem-solving skills, work with team-by-function verticals, and discover where they fit More with staff Develop class B employees - Some B-Class employees should be instructed Share your knowledge and experience to help maximize the potential of your employees and help them achieve their goals This will help to build a two-way process depending on the cooperative relationship - Always consider motivating and motivating your staff to enhance your ability to perform work or life skills through training Learning can take many forms, including: human resource management courses, professional expert workshops, university or college courses, online learning or distance learning Class B employees are also good candidates for promotion Helping these employees gain new experiences, through job rotation or proper promotion, can help them work hard at high LE HONG CHUONG August 7, 2017 42 productivity 5.3.2 Company p o l i c y Fa c to r Because factors affect the motivation of employees, businesses and organizations need to focus on this factor to further improve their motivation to work In the business  Recommendation: - It's a good idea to keep a close watch on the pay scales of your peers to ensure that your payroll is not outdated to limit your employees' Else, or opponent - Provide training and human resource development activities, especially professional training for new staff - Diverse forms of reward, focusing on spiritual factors and the need for rest and recreation in modern society - Understanding the need for staff's progressive spirit, the organization should map out the next stepping lever for them, as well as the appropriate training program - The company participates in social charities so that employees feel the corporate responsibility for society 5.3.3 Na t u r e o f wo r k f a c t o r The factors of work are the third most important factor affecting the motivation of employees The more well-equipped elements of the job, the greater the satisfaction, the greater the passion for the work of the worker That is a way to increase the motivation of efficiency, so enterprises should pay attention to invest in this factor  Recommendation: - Create a detailed and accurate job description This document will clearly and objectively demonstrate what employees must perform, as well as describe their responsibilities, obligations, and relationships within the organization's hierarchy Encourage employees to determine what they like to in order to help them find opportunities to improve their skills and knowledge With their richer knowledge, skills and abilities, they will be able to advance faster on the career ladder This is the main source of motivation and practicality, because the organization will help August 7, 2017 43 W H C M P F employees see opportunities to develop themselves - Rotating in work or rotation of positions - involves cross training, ie, instructing employees to their jobs New tasks or responsibilities are often challenging and, from a psychological perspective, employees always want to try their best to assert themselves - Enrich daily work content With this approach, you can develop more depth of employee responsibility, but not by increasing the number of tasks, but by increasing the complexity of the task 5.3.4 Supervisor leadership factor Leadership and relationships in the organization are the second most important factor affecting the motivation of employees An organization with effective and friendly leaders, the relationships of colleagues in the organization are well developed, keep the atmosphere of fun and harmony in the organization will strongly inspire the process of doing Work, improve the efficiency of labor productivity, organizational efficiency  Recommendation - Demonstrates the recognition of competencies and performance in various forms according to the wishes of the employees - It should be empowered in organizations, entrusted and empowered to lower levels in the organization - Provide employees with an understanding of the direction of the organization so that they can take action in a manner consistent with that orientation Maybe the four factors are not all It is important for the organization to know what employees want, then consider what they can meet at their own and at their individual needs to motivate them to work alongside their development goals 5.4 Limitation of research There is no research covering all other departments in the company because of limited research conditions Limitation on the precise identification of the factors that influence motivation as a result of identification is subjective The questionnaire used for all levels of staff LE HONG CHUONG August 7, 2017 44 is unreasonable Only a Likert scale is used for all questions so the results are relative Survey data obtained about not fully exploited to evaluate the analysis of the impact factors 5.5 Further research directions Although limited, this is the basis for further research: Revise supplementary shortcomings in the subject with a more complete study in the future Research to develop methodologies and procedures for evaluating the factors that affect the motivation of the employees to complete Experiment on a wider scale than employees of all departments of Prudential Finance to promote the research results of the topic Bibliography Ghahremani Germi & Delghavi (2014) The effect of management factors and job satisfaction on human resources efficiency: A case study of paramedical employees of public hospitals in Ardabil Adams, J S (1963, 1969) Equity theory Bernard, H.R (2011) Brehm and Gates (1997) Bryman and Bell (2011) Danish, R Q., Khalid Khan, M., Shahid, A U., Reza, & & Humayon, A A (2015) Effect of intrinsic rewards on task performance of employees: Mediating role of motivation Deci and Ryan (2000) Intrinsic and Extrinsic Motivations: Classic Definitions and New Directions Denibutun (2012) Working Motivation: Theoretical Framework Goddard, W & Melville, S (2004) Guay (2010) The underlying underlying behavior Herzberg (1959) Two-Factor theory Hooman Khoshnevisa,*, Abbas Tahmasebib (2016) The Motivation System in a Governmental Organization Maslow, A (1943) Maslow's Hierarchy of Needs Massey and Brown (1998) Naim Ismajli*, Zekiri, Ermira Qosja, Krasniqi (2015) The Importance of Motivation Factors on Employee Performance in Kosovo Municipalities August 7, 2017 45 W H C M P F -Rizwan Qaiser Danish1*, M K (2015) Effect of intrinsic rewards on task performance of employees: Mediating role of motivation Robison (2010) Rynes, Gerhart, and Minette (2004) Skinner, B (n.d.) Reinforcement theory of motivation Vroom, V (1963, 1969) Expectancy theory of motivation Yair Re Zij R M and Practical Tools P S E A A -Oriented Analysis of Possibilities E R A K D Competences in the Process of Employee Motivation L M Appendix PHI U KH O SÁT THE SURVEY Nh m m c đích thúc đ y nâng cao đ ng l c cho nhân viên, Công ty Prudential Finance r t mong nhân viên đóng góp ý ki n xây d ng cho ch đ đãi ng M i thông tin phi u kh o sát s đ c l u tr khai thác In order to promote the motivation of employees, Prudential Finance Company is looking for staffs to contribute ideas to the remuneration system All information on the survey will be stored and exploited H tên nhân viên (Full Name): i n tho i (Phone number): Xin đánh d u tích () vào m c ch n tr l i cho m i câu h i Please tick () on the option to answer each question Q1 How old are you (Tu i c a anh/ch ) ? (D (T 20 đ n d i 20 tu i) (T 30 đ n d LE HONG CHUONG i 45 tu i) i 30 tu i ) (Trên 45 tu i) August 7, 2017 46 Q2 Sex (Gi i tính c a anh/ ch ) ? (Nam) (Khác) ale (N ) Q3 Working Experience (S n m công tác)? From to under years (D i n m) (T n m đ n d i n m) (T n m đ n d i n m) (Trên n m) Q4 Position (Ch c v ): Sales Man Team Leader Supervisor THE INFORMATION ABOUT THE EMPLOYMENT FEELINGS PH N TảÔNẢ TIN V C M NH N C A NảÂN VIÊN (Hoàn toàn đ ng ý) Absolutely agree ng ý) ( Agree (Trung l p) Nearly agree ( Khơng đ ng ý) Disagree (Hồn tồn khơng đ ng ý) (Anh/ch (ơng/bà) vui lòng cho bi t m c đ mong mu n c a đ i v i câu nói sau theo m c đ t (Hồn tồn khơng đ ng ý) cho đ n (Hoàn toàn đ ng ý) tùy thu c vào mong mu n c a riêng anh ch ) Absolutely Disagree Please indicate your level of desirability for the following sentences in terms of levels from (Absolutely Disagree) to (Absolutely agree) depending on yours Interesting job WOR1 (Công vi c thú v ) The work facilitates the good use of personal capacity WOR2 (Công vi c t o u ki n s d ng t t n ng l c cá nhân) The work requires flexibility and dynamism WOR3 (Cơng vi c đòi h i s linh ho t n ng đ ng) WOR4 Work does not usually require overtime August 7, 2017 47 W H C M P F (Công vi c không th ng yêu c u làm t ng ca) Work stable, less anxious job loss WOR5 (Công vi c n đ nh, lo l ng m t vi c làm) The company has professional training policies and guidelines DEV1 (Cơng ty có sách đào t o, h chuyên môn) ng d n nghi p v You are guided the skills necessary for the job DEV2 (B n đ vi c) ch ng d n nh ng k n ng c n thi t cho công Individual contributions are always colleagues, superiors recognized REC1 (Nh ng đóng góp c a cá nhân đ c p ghi nh n) c đ ng nghi p, The useful contribution of the individual will be rewarded REC2 (Nh ng đóng góp h u ích c a cá nhân s đ th ng) c khen The useful initiatives are recorded and widely applied REC3 PRO1 (Nh ng sáng ki n h u ích đ rãi) c ghi nh n áp d ng r ng There are many opportunities for advancement in your current job (Có nhi u c h i đ th ng ti n công vi c làm) Promotion opportunity is fair for everyone PRO2 (C h i th ng ti n công b ng cho m i ng i) Everyone is aware of the conditions necessary to advance PRO3 (M i ng ti n) iđ c bi t rõ u ki n c n thi t đ th ng Leadership is polite, gentle MAN1 (Lãnh đ o có tác phong l ch thi p, hòa nhã) Leaders care about employees MAN2 (Lãnh đ o quan tâm t i nhân viên) LE HONG CHUONG August 7, 2017 48 Employees are treated fairly, without distinction MAN3 (Nhân viên đ c đ i x công b ng, không phân bi t) Always keep a good relationship with your boss MAN4 (Ln có m i quan h t t v i c p trên) Wages are paid at the right level for the company SAL1 (Ti n l ty) ng đ c tr theo m c đóng góp cho cơng Increase the salary according to the ability of employees SAL2 (T ng l ng theo kh n ng làm vi c c a nhân viên) Wages are paid at the right amount and time SAL3 (Ti n l đ nh) ng đ c chi tr m c ti n th i gian quy Policies to encourage, reward the company's clear POL1 (Chính sách khuy n khích, khen th ràng) ng c a cơng ty rõ Policy Salary and bonus of the company is worthy of every individual contribution POL2 (Chính sách ti n l ng, th v i đóng góp m i cá nhân) ng c a công ty x ng đáng The company has a good welfare regime POL3 (Công ty có ch đ phúc l i t t) Equipment enough to work WOC1 (Trang thi t b ph c v công vi c đ y đ ) Safe, clean working conditions WOC2 ( i u ki n làm vi c an toàn, s ch s ) I always feel excited about my current job MOT1 (Tôi c m th y h ng thú làm công vi c hi n t i) I usually work with the best mood MOT2 (Tôi th ng làm vi c v i tâm tr ng t t nh t) I volunteered to improve my skills to work better MOT3 (Tôi t nguy n nâng cao k n ng đ làm vi c t t h n) August 7, 2017 49 W H C M P F I am willing to sacrifice personal rights to get things done MOT4 (Tôi s n sàng hy sinh quy n l i cá nhân đ hoàn thành cơng vi c) N u có th , b n mu n cơng ty thay đ i (Do you want this company changing anything?): Xin chân thành c m n đụ hoàn thành phi u kh o sát Thanks you so much LE HONG CHUONG August 7, 2017 50 ... competitors in the industry 1.2 Research Questions The miniature research framework is Prudential' s Ho Chi Minh City sales staff so the questionnaire for research is also within Ho Chi Minh City and it... question “What factor effect to employee’s motivation at sales department in Ho Chi Minh Prudential Finance What anlysed? How to approach and what are design? Now this chapter of the research will... it is easy to carry out research The question is "What factor affect to employee’s motivation at sales department in Ho Chi Minh Prudential Finance" Clarifying and providing answers to this question
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