A study of employee job satisfaction at cotec construction joint stock company

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RESEARCH PROJECT (BMBR5103) A STUDY OF EMPLOYEE JOB SATISFACTION AT COTEC CONSTRUCTION JOINT STOCK COMPANY STUDENT’S FULL NAME : NGUYEN THI KIM DUNG STUDENT ID : CGS00018246 INTAKE : MAY, 2014 ADVISOR’S NAME & TITLE : DR. NGUYEN THE KHAI (DBA) August, 2015 Page 1 of 58 Advisor’s Assessment --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Advisor’s signature Page 2 of 58 ACKNOWLEDGEMENTS Actually no success has come without associated with the support, however much help, either directly or indirectly by the other person. During the period from the beginning of learning, I've received a lot of attention, help your teachers, family and friends. With deepest gratitude, I would like to send you a Masters in International Training Institute Hutech together with knowledge and her dedication to impart valuable knowledge to our students during the period of study at school. And in particular, in this semester, the Institute has organized for us to have access to courses that follow you is very helpful for students of Business Administration. That is the subject Research Project In Business. I sincerely thank Dr. Nguyen The Khai has dedicated guided us through each classroom sessions as well as the creative practice in scientific research. Without these instructions, the teacher taught, I think my thesis is hard to be perfect. Again, I sincerely thank you. The study is being conducted over a period of approximately 4 weeks. Initially, in practice, to learn about the field of creativity in scientific research, my knowledge is limited and muchsurprise. Therefore, the inevitable gaps is a sure thing, I look forward to the valuable feedback of your teachers and the classmates to my knowledge in this field is excellent. Finally, I wish your Masters in International Training Institute Hutech and Dr. Nguyen The Khai .Wishes for health, confidence to continue performing his noble mission is the transfer of knowledge for future generations Page 3 of 58 TABLE OF CONTENTS CHAPTER I .............................................................................................................................. 8 INTRODUCTION .................................................................................................................... 8 I. INTRODUCTION OF COTEC CONSTRUCTION JOINT STOCK COMPANY .. 8 1.1 Over view of the company ........................................................................................... 8 1.2 Organisation Structure and Human Resources ........................................................... 9 1.3 Human resource policy............................................................................................... 12 1.4 ISO certificate ............................................................................................................. 16 1.6 Events .......................................................................................................................... 18 II. RESEARCH INTRODUCTION .................................................................................... 25 2.1 Research problem statement of the study ................................................................ 25 2.2 Contribute of the study .............................................................................................. 25 CHAPTER II .......................................................................................................................... 27 LITERATURE REVIEW ..................................................................................................... 27 2.1 Work Control ............................................................................................................. 27 2.2 Role innovation.......................................................................................................... 27 2.3 Supervisor Related Commitment ............................................................................. 28 2.4 Fairness In Skill-Based ............................................................................................. 28 2.5 Positive Work Bahaviors .......................................................................................... 29 2.6 The relationship between work control and positive work bahaviors .................... 29 2.7 The relationship between role innovation and positive work bahaviors ................ 30 2.8 The relationship between supervisor related commitment and positive work bahaviors ................................................................................................................................... 31 2.9 The relationship between fairness in skill-based and positive work bahaviors ......... .................................................................................................................................... 32 CHAPTER III ......................................................................................................................... 34 RESEARCH MODEL AND HYPOTHESES .................................................................... 34 3.1 Research model.......................................................................................................... 34 3.1.1 Dependent Variables: ........................................................................................ 34 3.1.2 Independent Variables: ..................................................................................... 34 3.2 Constructs .................................................................................................................. 34 3.3 Research Hypotheses: ............................................................................................... 35 CHAPTER IV ......................................................................................................................... 39 Page 4 of 58 RESULTS AND FINDINGS................................................................................................. 39 I. RESEARCH METHODS .................................................................................................. 39 1.1 Data collection ............................................................................................................ 39 1.2 Measures ..................................................................................................................... 39 1.3 Measures of each construct ........................................................................................ 39 1.3.1 Work Control .................................................................................................... 39 1.3.2 Role innovation ................................................................................................ 40 1.3.3 Supervisor related commitment ...................................................................... 41 1.3.4 Fairness In Skill-Based .................................................................................... 42 1.3.5 Positive work bahaviors ................................................................................... 43 II. DATA ANALYSIS ............................................................................................................ 44 2.2 Descriptive Statistics .................................................................................................. 45 2.3 Hypothesis Testing Result ......................................................................................... 46 CHAPTER V ........................................................................................................................... 48 DISCUSSION AND CONCLUSIONS ................................................................................ 48 I.Discussion .............................................................................................................................. 48 1.1 Recommendations for Work Control ........................................................................ 48 1.2 Recommendations for Role Innovation..................................................................... 48 1.3 Recommendations for Supervisor Related Commitment........................................ 49 1.4 Recommendations for Fairness In Skill-Based......................................................... 49 II. Significance of research ................................................................................................... 49 III. Limitation of research .................................................................................................... 51 REFERENCE ......................................................................................................................... 52 THE SURVEY ........................................................................................................................ 53 Page 5 of 58 LIST OF FIGURES AND TABLE Table 1: Annual turnover and profit growth .................................................9 Table 2: Measurement of Work Control ......................................................35 Table 3: Measurement of Role Innovation ...................................................36 Table 4: Measurement of Supervisor related commitment ......................37 Table 5: Measurement of Fairness In Skill-Base .........................................38 Table 6: Measurement of Positive Work Bahaviors ...................................38 Table 7: Cronbach's Alpha- Internal consistency .......................................39 Table 8: Reliability Statistics .........................................................................40 Table 9: Descriptive Statistics .......................................................................40 Table 10: Model Summary (FIS, WC, SRC, RI) .........................................41 Table 11: Coefficients (FIS, WC, SRC, RI)..................................................41 Table 12: Hypothesis Statistic .......................................................................42 Figure 1: Human resource manager system- Organizational Chart ........11 Figure 2: Proposed Research Model of Employee Positive Work Bahaviors in Coteccon Group ...........................................................................................29 Page 6 of 58 ABSTRACT This study examined the impact of work control, role innovation, supervisor related commitment, and fairness in skill-based on Coteccons Construction’s employee job satisfaction.Result:The results supported the hypothesis that work control, role innovation, supervisor related commitment, and fairness in skill-based on Coteccons Construction’s employee job satisfaction. Conclusion: The findings in this study would help managers of Coteccons Construction’s to formulate strategies that involved work factors such as distributive and procedural justice to improve the management of human resource development. These strategies would help in influencing positive behaviors among employees, and hence achieve effectiveness and high productivity in the organization. Therefore, it was worth the effort for the organization to train and educate their managers on the impact of perceptions of organizational justice on the motivation and commitment of their employees. Keywords: work control, role innovation, supervisor related commitment, and fairness in skill-based Page 7 of 58 CHAPTER I INTRODUCTION I. INTRODUCTION OF COTEC CONSTRUCTION JOINT STOCK COMPANY 1.1 Over view of the company - Cotec Construction Joint Stock Company (Coteccons’s Group). - Address: Floor 9th - 12th , Coteccons Office Building, No.236/6 Dien Bien Phu Str., - Ward 17 Binh Thanh Dist, - Ho Chi Minh . - Tel: 08.35142255 - 3.5142266 - Fax: 08. 35142277 - Website: www.coteccons.vn - Products: Construction, installation and repair of civil and industrial project, infrastructure, transportation and irrigation projects, residential and commercial building. Investment consultation, project management of civil, industrial and infrastructure projects. Design of construction works; design of civil and industrial projects; residential and commercial buildings, interior design, design of HVAC systems and Mechanical, electrical and plumbing works. -Last five year business achievements: Turnover and net profit of the company are shown as follows: Year Unit Turnover Profit 2009 Billion dongs 1,962 228 2010 Billion dongs 3,303.7 240.3 2011 Billion dongs 4,509.6 211 2012 Billion dongs 4,477.3 218.5 2013 Billion dongs 6,189.6 257.1 Page 8 of 58 Table 1: Annual turnover and profit growth - Strategic Shareholders: With sustainable development strategies and business transparency in the issuance of shares to strategic shareholders, Coteccons has attracted several national and international investors, such as: + Tainan Spinning Co., Ltd. + Indochina Holdings Group Ltd . + Kusto Pte., Ltd. 1.2 Organisation Structure and Human Resources Structure: The shareholder community has the most powerful authority to approve any changes or revisions to regulations or annual business objectives of the company In the Annual General Meeting the Board of Directors and Board of Supervisors shall be elected to manage all business activities. The Board of Directors is responsible for implementing the Annual General Meeting’s decisions. Page 9 of 58 Coteccons is directly managed by the General Director appointed and approved by the Board of Directors. The General Director manages the company in accordance with Company Regulations approved by Annual General Meeting and under Vietnam Laws. Resources: Coteccons is proud of a team of experienced, elite and creative engineers, architects and expatriate experts. All the staff participates fully in training, created for the purpose of self-improvement and perfection. Page 10 of 58 Figure 1: Human resource manager system- Organizational Char Page 11 of 58 1 1.3 Human resource policy “Human is our key of success” – Coteccons Group’s human resources are considered the most valuable assets. We therefore pay continuous attention in building up a team of professional managers and staffs for the purpose of sustainable development. Coteccons objectively evaluate contributions from each staff in order to increase the awareness of individual roles in forming corporate culture, continuous learning, innovation, diligence and integrity. Personnel Policy is always improved to ensure staffs have the best working conditions: -Working Conditions: - Coteccons cares staffs’ working conditions: allocate clean well-ventilated convenient locations, provide sufficiently equipment, supply uniforms for all staffs and personal protective equipment for staffs working on site. - Professional and dynamic working environments where personal competence can be shown and nurtured. Staffs are always supported and guided by their superiors, coordinated by colleagues and relevant departments for the shared sake of corporate development. -Employment Policy: Total working time: 44 hours/week. Holiday, annual leaves and other leaves comply with Labor Code. Coteccons staffs at work have to wear uniforms and comply with the following requirements: • Be responsible, internal solidary to fulfil assigned duties. • Fully comply with assignment and mobilization from superiors. • Report fully and exactly about assigned duties. Consult instructions from superior when facing work difficulties for timely solutions. Page 12 of 58 1 • Officer is prohibited from abusing authority to receive commissions from any parties in any forms which cause damages to Coteccons ‘s image and reputation. • Do not use Coteccons ’s name for personal purposes. Work cheating which causes losses and damages to Coteccons ‘s benefits and assets is prohibited. • Information disclosure, document take-away, providing information to external parties without approval are prohibited. • Do not disclose Coteccons ‘s business secrets. • Personal incomes are based on appraisal of direct superior and executives. Disclosure of personal income is therefore prohibited. - Remuneration: Remuneration policy is built on the ground of assigned duties and performance thereof. Wage raise will be carried out periodically on the ground of performance and appraisal of direct superior. In addition to wages, Coteccons will award bonus to motivate working spirit: holiday bonus, new year bonus and bonus on duty achievement. -Social Insurance: Deposit for social insurance, medical insurance will comply with current legal requirements. Regimes of maternity, work-accident insurance, unemployment allowances will base on legal requirements. In addition to required insurances, Coteccons will consider the following insurances: • Total health insurance. Depending on positions and remote working conditions, Coteccons consider the application of total health insurance for family members. • Insurance for abroad business trips. Page 13 of 58 1 - Training: In order to build up a team of know-how staffs who are professional and workethical, every year, Coteccons will create a training plan in accordance with Coteccons development strategy. • Integration: New staffs will attend Integration Course to have a general understanding of the establishment and development of Coteccons, regulations, procedures and Coteccons cultures so that they can immediately integrate with colleagues and works. New supervisor will be trained with technical materials. • Manager training: Potential staffs will be nominated to Potential Leader Club, attend leading skill classes, managerial courses, planning presentation and other skill training. • Indoor training: indoor training will be carried out frequently. Experts will be invited to these training classes. Attention is paid to internal training where superiors will train subordinates to perfect and upgrade professions. • Soft skill training: staffs will also be trained on soft skills such as interaction, presentation, negotiation … to increase their confidence and working success. • Short-term abroad training: Based on work demand, Coteccons will consider the nomination for training at advanced economies. As part of COTECCONS Group on going training programme, we invited a concrete company from Australia to spend 4 weeks in Vietnam to work with our site supervisors and concrete teams during the preparation, placement and finishing of concrete. The principle thrust of the training included: - The use of international quality tools in the placing and finishing of concrete. - The introduction and use of lazers for controlling the finished concrete levels. - The introduction of the Connolly formwork system for “slab on ground” construction joints. - The building of easily removable formwork (risers) for concrete stairs so that quality finish can be achieved without additional topping. During the training programme time was spent in both Ho Chi Minh City and Danang working with our concrete teams (hands on) with practical demonstrations in the concreting of large pours for industrial factories and high rise building suspended slabs. Page 14 of 58 1 COTECCONS Group, following the success of the programme and the reception on selected sites of the new tools and lazer level, now plan to upgrade the equipment for all our work sites as part of our continual improvement to provide a higher quality of finish for our valued clients. COTECCONS plan for the future is to expand its trade level training with further programme in scaffolding, OH & S and painting. - Allowances, welfare and treatment: + Allowances: Coteccons has sufficient allowances to ensure staffs’ duty fulfillment: allowances for meals, telephone, business trip etc. + Welfare:  Vacation: Coteccons organized annual vacation domestically and internationally for staffs to refresh labor and unify staffs. Annual medical check: Coteccons organized annual general medical check for staffs. Fees are paid by Coteccons.  Sporting events: Coteccons sporting events are organized every year for staffs to compete and interact within Coteccons Group. Physical and psychological care to staffs: hold meeting and giving for staffs on traditional holidays; gifts to staffs’ children on Children Day (June 1); gifts to excellent performance of staffs’ children. +Treatment: Stock: Employee Stock Ownership Program will be applied to selected staffs. Quantities depend on work experience, position and contribution of staffs as ranked by Bonus Commission and approved by Board of Directors. Buy apartment at preferred rates: Staffs are considered for preferred purchase of apartments which are bought from Coteccons at better prices. Page 15 of 58 1 1.4 ISO certificate Policy of quality management COTECCONS is a professional building and civil engineering company operating on major projects throughout Vietnam. Coteccons is making strong growth in design development, interior – exterior decoration, investment and project development. COTECCONS is committed to operating an effective and comprehensive Management System within its organization and maintaining its recognition by and certification to the international standard quality system ISO 90012008 by QMS (Australia). The ever changing demands of projects within the construction industry set it apart from all others. Every project is different in terms of type of buildings, unique features, clients, location, labor skills and much more. We therefore recognize the critical need for control systems that guarantee the objectives set, and to allow flexibility to allow adaptation for specific project delivery. COTECCONS management system is applied from the time of invitation to tender/or negotiation with clients, through the contract process, construction and up to the end of the maintenance period. COTECCONS management systems are continually reviewed improved and adapted to individual projects with the aim of guaranteeing the best results for each customer. Page 16 of 58 1 1.5 Projects Vinhomes Central Park - Tan Cang Masteri Thao Dien RMIT University Lee & Man Factory Sai Gon Pavillon U.N.I School of HN Page 17 of 58 1 1.6 Events COTECCONS Re-honored in Business Forum 2015 of Forbes Vietnam On 17 August 2015, the Business Forum 2015 of Forbes Vietnam was held at INTERCONTINENTAL ASIANA SAIGON Hotel. This is the 3rd event held by Forbes Vietnam to celebrate top 50 companies listed on Vietnam Stock Market and Coteccons is re-honored for the 3rd time on the worldwide famous magazine. Especially COTECCONS is placed at top of the construction industry in this year’s ranking. On this year’s celebration, Forbes held several discussions with topic “Taking the Lead” for the purpose of upgrading competition capability, taking the lead of businesses. The topic attracted involvement of many Chairmen/CEO of top companies on the market. Major speaker of the event, Mr. Nguyen Ba Duong – Chairman & General Director of Coteccons – was straight in presenting his view “Once having selected partners (we) will do (our) best to create optimal benefits for investors and quality projects for end-user who has saved for whole life to own an apartment. Currently COTECCONS is focusing on building resources, accelerating improvements to reduce quantities of workers on sites, so that competition capability can be increased domestically before working abroad. With current workloads, we do not concern about finding more works. We only concern about growing up for projects of higher quality and larger-scales. According to Forbes Vietnam, the raking list is based on ranking methodology of its mother magazine, with consideration of local characters of listed businesses in Page 18 of 58 1 Vietnam. The ranking list is also commented by stock experts from big investment funds. The 3rd award of Top 50 of listed companies in Vietnam is the pride, encouragement and motivation for extended efforts to move forward in coming years. Signing Ceremony of Grand Ho Tram – Phase 2 On 27 February 2015, in witness of representatives from Ba Ria – Vung Tau Provincial Authorities, Coteccons and Ho Tram Project Co., Ltd. (HTP) decently organized a signing ceremony of general contract for the Grand Ho Tram project – Phase 2 in Ba Ria – Vung tau provincial hall. Signing attendees include Mr. Nguyen Tuan Minh – member of Party Central Committee & Secretary of Ba Ria – Vung Tau Province, Mr. Stephen H. Shoemaker – President of ACDL, Mr. Colin Pine – General Director of HTP, Mr. Nguyen Ba Duong – President and General Director of Cotecccons. Signing Ceremony The Grand Ho Tram – Phase 2 includes a 5-star building of 559 rooms, restaurants and facilities with estimated investment of USD 100 million. The Grand Ho Tram is known as the most luxurious resort in Vietnam with overall investment of USD 4.2 billion on an area of more than 164 ha, located at Phuoc Thuan, Xuyen Moc, Vung Tau, 50km away from Vung Tau City and 120km away from Tan Son Nhat Airport. Page 19 of 58 1 The Grand Ho Tram – Phase 1 Coteccons has completed Phase 1 including a 5-star building of 541 rooms fixed with international standard equipments, Conventional Center and Casino of 500 machines and 90 tables exclusively for expatriates, high-ranking restaurants, spa and especially an 18-hole golf course designed by Greg Norman. This is one of several good news that Coteccons receives on beginning working days after Lunar New Year holidays. With abundant resources, Coteccons is confidently deploying the construction of Phase 2, ensuring the optimization of time saving, quality guarantee and cost efficiency as well. Page 20 of 58
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