RESEARCH PROJECT
(BMBR5103)

JOB SATISFACTION OF EMPLOYEES
OF JOINT STOCK COMMERCIALBANK FOR INVESTMENT AND
DEVELOPMENT OF VIETNAM (BIDV)

STUDENT’S FULL NAME:

NGUYEN LUU DIEN TUONG

STUDENT ID:

CGS00018514

INTAKE:

SEPTEMBER 2014

ADVISOR’S NAME AND TITLE: DR. KHAI NGUYEN

December, 2015


ADVISOR’S ASSESSMENT
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------Advisor’s signature

NGUYEN THE KHAI

2



Company introduction ....................................................................................... 10

1.2.

Research introduction ......................................................................................... 14

1.2.1.

Statement problem .......................................................................................... 14

1.2.2.

Research objectives ......................................................................................... 14

1.2.3.

Research questions .......................................................................................... 15

1.2.4.

Scope of the research ...................................................................................... 15

1.2.5.

Research design............................................................................................... 15

CHAPTER 2: LITERATURE REVIEW...................................................................... 17
2.1.



3.1.3.

Constructs........................................................................................................ 25

3.2.

Research Hypotheses .......................................................................................... 26

3.3.

Instruments ......................................................................................................... 32

3.4.

Sampling Method and sample size: .................................................................... 35

3.5.

Data analysis method: ........................................................................................ 36
4


3.6.

Method of data collection ................................................................................... 39

CHAPTER 4: ANALYSIS AND RESULTS ............................................................... 40
4.1.



5.2.2.

The next research ............................................................................................ 49

REFERENCES ............................................................................................................. 50
APPENDIX 1 ............................................................................................................... 55
APPENDIX 2 ............................................................................................................... 64

5


LIST OF FIGURES
Figure 1: Proposed the Research Model of Job Satisfaction of Employees in
BIDV
Figure2: A summary of demographic characteristics of the respondents

6


LIST OF TABLES
Table 1: Summary of hypotheses
Table 2: Cronbach's Alpha- Internal consistency
Table 3: Summary of Cronbach’s Alpha of the variables
Table 4: Descriptive Statistics
Table 5: Correlations among Variables
Table 6: Model Summary of all hypotheses
Table 7: Coefficients of all hypotheses
Table 8: Hypothesis Statistic


OS

Perceived organizational support

DJ

Distributive justice

8


ABSTRACT
A study was undertaken to measure the level of job satisfaction in BIDV. The
study mainly reviews around the view of employees regarding the job satisfaction.
What they think about the job satisfaction. The data was collected all primary, as
collected through personal interviews in the form of questionnaire.
This research aimed to identify the factors that impact the satisfaction among
staff working at BIDV. The research results indicated four groups of factors
(variables) which had impacted on these staff’s satisfaction namely: Satisfaction with
work schedule flexibility, Supportive supervision, Perceived organizational support,
Distributive justice.
Data analysis revealed that there is a positive relationship between the each
factor of employee satisfaction which is named satisfaction from Supportive
supervision, Perceived organizational support, Distributive justice. Furthermore,
relevant recommendations for improving the employee satisfaction are proposed.

9


CHAPTER 1: INTRODUCTION

History of construction and development of BIDV is a difficult and trial but
very proud path associating with historic period against invaders and country
construction of Vietnam people.
Along with country development, Joint Stock Commercial Bank for Investment
and Development of Vietnam contributed to postwar economic rehabilitation and
implementation of the first five-year plan (1957-1965). Vietnam must carry out two
strategic duties for building socialism. They are to be against sabotage of America
toward the North and to reinforce the South for national unity (1965-1975),
construction and development of national economy (1975-1989) and implementation
of the reform in banking activity serving country’s modernization (1990-now). In any
circumstances, BIDV personnel always accomplish their mission- to be a solider of
the Party on monetary financial front and investment and development of country…
Acknowledge the contribution of BIDV through the periods, the Party and the
Socialist Republic of Vietnam have given to BIDV a lot of noble titles and rewards
including First-Rate Independence Medal and Third-Rate Independence Medal; FirstRate, Third- Rate Labor Medal, recognize as hero of Labor in renovation period, Ho
Chi Minh Medal, etc.
FIELDS OF OPERATION
Bank: BIDV functions as a leading experienced bank of finance services,
brokerage, loan syndication and advisory, modern, convenient banking products.
Insurance: BIDV provides products for non-life insurance designed to match
the overall package to customers of BIDV.
Stock: BIDV provides a wide range of brokerage services, investment and
investment consultant with the ability of quickly developing a system of agents to
receive orders nationwide.
Financial investments: BIDV includes financial leasing, security trading and
capital contribution with the aim at establishing investment companies to the project;
Especially, it plays a leading role in coordinating key projects of the country such as
company Aviation stock leasing (VALC) development company highway (BEDC),
Investment, Long Thanh International Airport …
HUMAN RESOURCES

TECHNOLOGY
- BIDV always has innovations and technology applications serving effectively
for the management and development of advanced banking services, developing the
most advanced information technology systems such as ATM, POS, Contact Center,
to consolidate and develop all infrastructure systems such as monitoring of network

12


resources, network-oriented services (SONA), access control workstation; enhance
information processing service, banking executive management MIS; CRM.
- Since 2007, BIDV has occupied the leading position in the top list of
Vietnam ICT Index (index available for application development and information
technology) and in the typical Top 10 CIO (Information Technology Leadership) in
the area of Indochina in 2009 and of ASIA in 2010.
COMMITMENT
- To customers: BIDV always provides all customers with high quality
products and modern banking service and it is the last to be responsible for the given
services.
- To other partners: BIDV is willing to “share the opportunity and co-operate
successfully”.
- To working staff: BIDV follows the motto “each staff must be a competitive
edge” in both professional skills and personal virtue. For this reason, BIDV has
continually paid attention to ensuring legitimate rights, improving physical and
spiritual life of its employees to make them feel comfortable and inspired to serve in
BIDV.
BUSINESS REPUTATION OF BIDV
- BIDV is the choice, the trust for economic organizations, the leading
enterprises of both countries and individuals in accessing the financial and banking
services.

satisfaction groin.
On the other hand, improve the satisfaction level of employees will maintain
the stability of the workforce, reduce operating costs and increase business
productivity. Raise the level of employee satisfaction not merely rise. There are many
simple methods, inexpensive help managers improve satisfaction and increase levels
of employee commitment.
So in this article, we focused on identifying and analyzing the impact of these
factors on job satisfaction of employees of BIDV based on survey data of 290
employees in the bank.
1.2.2. Research objectives
This study will need to find out which factors affect the employees' satisfaction
and how to improve it. To achieve this overall goal, we need to achieve these specific
objectives:
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- Satisfaction with work schedule flexibility.
- Supportive supervision
- Perceived organizational support
- Distributive justice index
1.2.3. Research questions
Based on the discussion above, and to accomplish the objective of this study,
these research questions have been formulated:
1. The relationship between Satisfaction with work schedule and Job
satisfaction
2. The relationship between Supportive supervision and Job satisfaction
3. The relationship between Perceived organizational support and Job
satisfaction
4. The relationship between Distributive justice and Job satisfaction
1.2.4. Scope of the research

Many theorists have tried to come up with an explanation for why people feel
the way they do in regards to their job. Locke developed the idea known
as discrepancy theory. This theory suggests that a person's job satisfaction comes from
what they feel is important rather than the fulfillment of their needs. A person's
importance rating of a variable is referred to "how much" of something is wanted.
Discrepancy theory suggests that dissatisfaction will occur when a person receives
less than what they want (Berry, 1997).
Another theory was developed by Lawler. Lawler believed that job satisfaction
was driven by a motivational framework. This idea deals with how a person measures
job satisfaction based on what they got verses what they feel they deserved.
Satisfaction is determined by the difference between the exact amount a person
received and what they expected. Therefore, dissatisfaction occurs when a person
receives less or more than what was expected.
In order to put job satisfaction in an environmental perspective, Social
Psychologist Bandura developed a theory known as the social influence hypothesis.
This hypothesis describes a social effect where individuals want what they perceive
others around them to want. The last theory used to explain job satisfaction was
proposed by Landy. His theory is known as the opponent process theory. He
suggested that the primary reaction (the immediate emotional response) combined
with the secondary reaction (the later emotional response) creates a stabilized
equilibrium which results in job satisfaction.
Despite its vide usage in scientific research, as well as in everyday life, there is
still no general agreement regarding what job satisfaction is. In fact there is no final
definition on what job represents. Therefore before a definition on job satisfaction can
be given, the nature and importance of work as a universal human activity must be
considered. Different authors have different approaches towards defining job
satisfaction. Some of the most commonly cited definitions on job satisfaction are
analyzed in the text that follows. Hoppock defined job satisfaction as any combination

17

job satisfaction. Negative and unfavorable attitudes towards the job indicate job
dissatisfaction (Armstrong, 2006). Job satisfaction is the collection of feeling and
beliefs that people have about their current job. People’s levels of degrees of job

18


satisfaction can range from extreme satisfaction to extreme dissatisfaction. In addition
to having attitudes about their jobs as a whole, people also can have attitudes about
various aspects of their jobs such as the kind of work they do, their coworkers,
supervisors or subordinates and their pay (George et al., 2008). Job satisfaction is a
complex and multifaceted concept which can mean different things to different
people. Job satisfaction is usually linked with motivation, but the nature of this
relationship is not clear. Satisfaction is not the same as motivations. Job satisfaction is
more of an attitude, an internal state. It could, for example, be associated with a
personal feeling of achievement, either quantitative or qualitative (Mullins, 2005). We
consider that job satisfaction represents a feeling that appears as a result of the
perception that the job enables the material and psychological needs (Aziri, 2008). 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.
2.2.

Satisfaction with work schedule flexibility

This measure was developed by Rothausen (1994), uses a five-item scale to

organizational commitment and supervisor work – family support. Satisfaction
with flexibility correlated negatively with turnover intentions (Aryee et al., 1998).
Baltes et al. (1999); Scandura & Lankau, (1997) described that flexible work
arrangements provided to employees allow them to work according to their ease,
which in result will minimize the amount of stress
2.3.

Supportive supervision

This measure was developed by Oldham and Cummings (1996), uses 08 items
to describe

employee

perceptions

of

the

extent

to

which

they

receive


organization as actions of the organization itself.
2.4.

Perceived organizational support

This measure was developed by Eisenberger et al. (1986), describes employee
perceptions about the extent to which an organization is willing to reward greater
efforts by the employee because the organization values the employee’s contribution
and cares about his or her well-being. The measure includes eight items that measure
an employee’s perception of the degree to which the organization values the worker’s
contributions and nine items about actions that the organization might take that would
affect the well-being of the employee. Some studies have used an abbreviated version
consisting of the nine items with the highest factor loadings in the original scale
development study (Moorman, Blakely, & Niehoff, 1998; Wayne, Shore, & Liden,
1997).
Perceived organizational support correlated positively with overall job
satisfaction, organizational commitment, direct and indirect control at work, job
discretion, interpersonal
pay/promotion

helping,

affective

attachment

to

the



and

exhaustion (Cropazano et al., 1997; Eisenberger et al., 1990; Lee &

Ashforth, 1993). Wayne, Shore, and Liden (1997) found through factor analysis
that

perceived organizational

developmental

experiences,

support

was

empirically

distinct

from

leader –member exchange (LMX), affective

commitment, and intentions to quit. Eisenberger et al. (1997) found through
confirmatory factor analysis that perceived organizational support and overall job
satisfaction were empirically distinct.


engage in extra role or “organizational citizenship” behaviors (Organ, 1988) than are
employees who feel that the organization does not value them as highly.

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2.5.

Distributive justice

This measure was developed by Price and Mueller (1986). It focuses on
assessment of the degree to which rewards by employee are perceived include effort,
experience, and education. Distributive justice is judged high in an organization
when effort, experience, good work, and dealing with stresses and strains of a job are
rewarded and their absence punished. The original items were modified by Mansour –
Cole and Scott (1998) to assess the degree of perceived fairness in an employee’s
work situation compared with co –workers.
By Nozick's theory, distributive justice is how a society or group should
allocate its scarce resources or product among individuals, the justice that is
concerned with the apportionment of privileges, duties, and goods in consonance with
the merits of the individual and in the best interest of society.
Distributive justice concerns the fair, just or equitable distribution of benefits
and burdens. These benefits and burdens span all dimensions of social life and assume
all forms, including income, economic wealth, political power, taxation, work
obligations, education, shelter, health care, military service, community involvement
and religious activities. Thus, justice arguments are often invoked in connection with
minimum wage legislation, Affirmative Action policies, public education, military
conscription, litigation, as well as with redistributive policies such as welfare,
Medicare, aid to the developing world, progressive income taxes and inheritance
taxes. Distributive justice enjoys a long and honored tradition in political, economic

justice were empirically distinct. DeConinck, Stilwell, and Brock (1996) found
through confirmatory factor analysis that distributive justice was empirically
distinct from four dimensions of the Pay Satisfaction Questionnaire ( satisfaction with
benefits, last raise, pay level and structure, and administration of the pay plan ).

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CHAPTER 3: RESEACH MODEL AND HYPOTHESES
3.1.

Research Model

Satisfaction with work schedule
flexibility

+

H1

+

H2

+

H3

+