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Tài liệu Motivating the workforce at petrovietnam construction joint stock corporation (pvc)

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ĐẠI HỌC QUỐC GIA HÀ NỘI KHOA QUẢN TRỊ VÀ KINH DOANH --------------------- NGUYỄN THỊ DIỆU LINH MOTIVATING THE WORKFORCE AT PVC COMPANY TẠO ĐỘNG LỰC CHO NGƯỜI LAO ĐỘNG TẠI TỔNG CÔNG TY XÂY LẮP DẦU KHÍ (PVC) LUẬN VĂN THẠC SĨ QUẢN TRỊ KINH DOANH HÀ NỘI - 2020 ĐẠI HỌC QUỐC GIA HÀ NỘI KHOA QUẢN TRỊ VÀ KINH DOANH --------------------- NGUYỄN THỊ DIỆU LINH MOTIVATING THE WORKFORCE AT PVC COMPANY TẠO ĐỘNG LỰC CHO NGƯỜI LAO ĐỘNG TẠI TỔNG CÔNG TY XÂY LẮP DẦU KHÍ (PVC) Chuyên ngành: Quản trị kinh doanh Mã số: 60 34 01 02 LUẬN VĂN THẠC SĨ QUẢN TRỊ KINH DOANH NGƯỜI HƯỚNG DẪN KHOA HỌC: TS. TRẦN HUY PHƯƠNG HÀ NỘI - 2020 DECLARATION The author confirms that the research outcome in the thesis is the result of author’s independent work during study and research period and it is not yet published in other’s research and article. The other’s research result and documentation (extraction, table, figure, formula, and other document) used in the thesis are cited properly and the permission (if required) is given. The author is responsible in front of the Thesis Assessment Committee, Hanoi School of Business and Management, and the laws for above-mentioned declaration. Date………………………….. i TABLE OF CONTENTS DECLARATION ....................................................................................................... i TABLE OF CONTENTS ......................................................................................... ii LIST OF TABLE.......................................................................................................v LIST OF FIGURES ................................................................................................ vi INTRODUCTION.......................................................................................................1 CHAPTER 1: OVERVIEW OF WORK MOTIVATION FOR EMPLOYEES .........3 1.1 Concept ..............................................................................................................3 1.1.1 Human resource management and encouragement .....................................3 1.1.2 Goals of human resource management .......................................................4 1.2. Theories on work encouragement and motivation through needs ....................4 1.2.1. Maslow’s hierarchy of needs (1908-1970).................................................4 1.2.2. Frederick Herzberg’s Two-Factor Theory: ................................................5 1.2.3. D.McClelland’s theory of satisfied needs: .................................................5 1.2.4. Douglas McGregor’s X-Y theory: ..............................................................6 1.3 Encouragement through expectation .................................................................7 1.4. Encouragement through equity .........................................................................9 1.5 Other applications in encouragement and motivation .....................................10 1.5.1. Employee evaluation ................................................................................10 1.5.2. Employee rewards ....................................................................................11 1.5.3. Rewards based on a model that determines the level of income satisfaction ..........................................................................................................17 1.6. Experience in motivating employees at the business .....................................18 1.6.1. Enhancement of the role of work motivation ...........................................18 1.6.2. Common shortcomings of work motivation at the businesses .................19 Summary of Chapter 1 ..............................................................................................20 CHAPTER 2: EVALUATION OF THE CURRENT STATUS OF WORK MOTIVATION AT PVC ..........................................................................................21 2.1. History and important development milestones of PVC ................................21 ii 2.2 Overview of work motivation at PVC .............................................................23 2.2.1 Work performance evaluation ...................................................................23 2.2.2 Employee reward .......................................................................................24 2.3. Evaluation of current status ............................................................................26 2.3.1 Survey of Board of Directors: ..................................................................26 2.3.2 Employee survey .......................................................................................27 2.4. Factors affecting employee rewards at PVC: .................................................37 2.4.1 External environment: ...............................................................................37 2.4.2 Internal environment: ................................................................................37 2.5 Conclusion on issues to be improved by urgency and feasibility ...................38 Summary of Chapter 2: .............................................................................................40 CHAPTER 3: SOLUTIONS AND RECOMMENDATIONS TO IMPROVE WORK MOTIVATION AT PVC .............................................................................41 3.1. Improvement of performance evaluation........................................................41 3.1.1 Improvement of performance evaluation process and method .................41 3.1.2. Establishment of a performance evaluation quality monitoring process: 42 3.1.3. Development of evaluation skills of managers ........................................43 3.2 Supplementation of reward policies: ...............................................................43 3.2.1. Development of achievement-based bonus policies: ...............................43 3.2.2 Supplementation and amendments of reward policies to encourage employees to work at the Corporation for a long time:......................................43 3.3. Specific actions to positively impact the employee performance and reward evaluation results ...................................................................................................44 3.3.1 Collection and analysis of employees’ opinions on human resource management........................................................................................................44 3.3.2 Supplementation of Key Performance Indicators (KPI) ...........................45 3.3.3 Employee encouragement forms ...............................................................45 3.4. Implementation of human resource management support activities ..............46 3.4.1 Communication culture development in the Corporation .........................46 3.4.2. Company tradition and emulation movement development: ...................47 iii 3.4.3. Using human resource management software:.........................................47 3.5. Action plan ......................................................................................................49 CONCLUSION .........................................................................................................59 REFERENCES ..........................................................................................................61 iv LIST OF TABLE Table 1.1: Theory X, Theory Y and Theory Z ........... Error! Bookmark not defined. Table 1.2: 3 application steps of V. Vroom’s theory of expectation .... Error! Bookmark not defined. Table 1.3: 8 Main purposes of employee rewards ...... Error! Bookmark not defined. Table 1-4: Rewards: principles, bases, requirements . Error! Bookmark not defined. Table 2.2: Respondent structure ................... Error! Bookmark not defined. Table 2.3: Assessment results on performance evaluation Error! Bookmark not defined. Table 2.4: Spiritual reward evaluation results ............ Error! Bookmark not defined. Table 2.5: Compensation evaluation results . Error! Bookmark not defined. v LIST OF FIGURES Figure 1.1: 5 Levels of Maslow’s Hierarchy of Needs ........... Error! Bookmark not defined. Figure 1.2: V. Vroom’s theory of expectation (1964) ............ Error! Bookmark not defined. Figure 1.3: Classification of compensation forms .... Error! Bookmark not defined. Figure 1.4: E. Lawler’s model of income satisfaction level ... Error! Bookmark not defined. Figure 2.1: Organizational chart of PVC as of March 31, 2018 .... Error! Bookmark not defined. Figure 2.2: Summary of employee survey results..... Error! Bookmark not defined. Figure 2.3: Summary of employee survey results by rank ..... Error! Bookmark not defined. Figure 2.4: Summary of employee survey results by Department . Error! Bookmark not defined. Figure 2.5: Evaluation on issues to be improved ..... Error! Bookmark not defined. vi vii INTRODUCTION 1. Rationale PetroVietnam Construction Joint Stock Corporation (PVC) is an enterprise with 35- year operational history as of 2018. PVC is also a public enterprise, listed on the stock exchange with PVX code and once warmed the hope of investors. Under the parent company - Vietnam Oil and Gas Group (PetroVietnam)’s resolute decisions on divesting capital from subsidiaries outside the main business lines, PVC has been facing difficulties and making losses since 2012. A number of units had to be dissolved while PVC was a leading enterprise in the field of petroleum construction, affecting the psychology and confidence of employees. Human resources in general and motivating employees in particular are always a hot issue with many creative solutions in each unit. Human resources in general and work motivation and employee satisfaction in particular are always a hot issue with many creative solutions in each unit. 2. Research objectives - Present scientific and practical basis to propose some solutions to create work motivation at PetroVietnam Construction Joint Stock Corporation (PVC) - Analyze and assess the current status of work motivation at PetroVietnam Construction Joint Stock Corporation (PVC). Clarify the shortcomings in this work and the need to change it. - Propose work motivation solutions to contribute to implementing the business development orientation of PetroVietnam Construction Joint Stock Corporation (PVC) 3. Research questions To meet the above research objectives, the following research questions need to be answered in the thesis: 1. What models and systems have been mentioned in dealing with the work motivation and dedication of employees? 2. What are the peculiarities of work motivation for employees in the construction industry (or petroleum)? 1 3. What are the achievements of PVC and what are the limitations of PVC in work encouragement and motivation? 4. What improvements does the Corporation need? 4. Research Subject and Scope - The research subject of this thesis is: Work motivation at PetroVietnam Construction Joint Stock Corporation (PVC) - Research scope: PetroVietnam Construction Joint Stock Company (PVC) Data source Data for the study are taken from two main sources. Secondary data are collected from industry reports, company reports, annual reports, publications and other related websites. Primary data are collected directly from surveys and selected interviews with a number of internal and external employees. 5. Research methods On-site research is conducted as a basis for learning about and selecting appropriate analytical models and tools before the questionnaire is designed to collect information through social survey methods. About 100 questionnaires are randomly distributed to different groups of employees in the Corporation. The collected data is processed by excel spreadsheets to obtain meaningful analysis results and exact answers to the above mentioned research questions. 6. Thesis design The Thesis consists of five parts:  Part 1: Introduction: Rationale, scope, subject, objectives and expected research findings;  Part 2: Summary of theoretical models that can be used to analyze the current status of work motivation for employees in the Corporation.  Part 3: Actual survey and analysis results to find out solutions to further improve the work encouragement and motivation activities at PVC.  Part 4: Some suggestions to improve work motivation at PVC  Part 5: Conclusion 2 CHAPTER 1 OVERVIEW OF WORK MOTIVATION FOR EMPLOYEES 1.1 Concept 1.1.1 Human resource management and encouragement There are many different concepts of human resource management: According to American Professor Dimock, “Human resource management includes all measures and procedures applied to employees of an organization and resolves all arising cases related to a certain type of work”. Professor Felix Migro said that “Human resource management is an art of selecting new employees and using existing employees so that each person may reach the maximum labor productivity and quality” Human resource management philosophy: Despite the changes in the labor market and the state’s approach to the economy, an approach that is considered to be the most practical and constructive based on the original ideas of Enid Mumford (1972) and McCarthy and Ellis (1973) were first introduced in 1979, then slightly revised in 2002. The approach states that: In practice, human resource management is considered a series of activities aimed at enabling employees and employer to reach a common agreement on the nature and purpose of the work relation and finally comply with the signed agreement (Torrington and Chapman 1979, page 4). The definition in the 5th revision (2002) is as follows: “Human resource management is a series of activities that firstly enable employees and employer to reach a common agreement on the purpose and nature of the labor relation, secondly ensure that the agreement is fully implemented.” (Torrington, Hall and Taylor 2002, page 13). 3 Human resource reward is the process of “taking care of the material and spiritual life of employees so that they can complete their assigned tasks, thereby fulfilling the goals of the enterprise”.1 Encouragement and motivation 1.1.2 Goals of human resource management The basic goal of any organization is to effectively use human resources for its overall goals. Therefore, human resource management in enterprises is often oriented with the following basic goals:  Social goals: Enterprises operate not only for profit but also for the benefits of society.  Human resource management is aimed at attracting talented people, at the same time, consolidate and maintain the quantity and quality of personnel needed to achieve the set goals of the company.  Human resource management is aimed at finding out and developing the best methods to effectively use human resources to improve labor productivity, at the same time, facilitate the employees’ continuous development.  Human resource management is aimed at motivating employees, creating favorable conditions for them to express, develop and devote their talents to the company, at the same time, help them to attach, devote and loyal to the company. 1.2. Theories on work encouragement and motivation through needs The study and application of need theories in human resource management will help managers identify the needs of employees as a basis for developing appropriate reward policies as well as appropriate measures to motivate employees. 1.2.1. Maslow’s hierarchy of needs (1908-1970) According to Maslow: - Human behavior is driven by a chain of needs. 1 Vu Thuy Duong & Hoang Van Hai, “Human Resource Management” Textbook, Statistical Publishing House 2008 4 - People have special talents that enable them to make independent choices, thus giving them control of their destiny. - Human needs including five (05) categories are arranged in different hierarchies and modeled as follows: Self-actualization Esteem Love/belonging Safety Physiological Figure 1.1: 5 Levels of Maslow’s Hierarchy of Needs Maslow believes that effective leadership and management must be paid attention to meeting the needs of people. 1.2.2. Frederick Herzberg’s Two-Factor Theory: In 1966, Frederick Herzberg wrote the famous book titled “Work and nature of man” about human motivation, he proposed two factors:  Motivator factor: achievement, recognition, work itself, responsibility, advancement, growth. All of these things create job satisfaction.  Demotivate factor: leads to dissatisfaction if it is not met, does not motivate people to work. For examples, demotivate factor includes organizational policy, work supervision, working conditions, salary, relationships with colleagues, relationships with subordinates. 1.2.3. D.McClelland’s theory of satisfied needs: Specific needs achieved or known and shaped by life experiences include: 5  Achievement: A group of people who like challenges and have achievable goals, and some feedback.  Affinity: A group of people with a high degree of harmony who always desire harmonious relationships and need to be accepted by others. Therefore, managers should try to create a collaborative work environment for them.  Power: A group of people with a need for power including individual power (not good), collective power (good for the organization), who are seeking collective power management opportunities. 1.2.4. Douglas McGregor’s X-Y theory: Douglas McGregor propagated human relationships close to management in the 1960s. Table 1.1: Theory X, Theory Y and Theory Z Theory Brief contents Theory X States that employees don’t like and avoid work, so managers need to take mandatory measures, threats and control methods to make employees meet their goals. Theory Y States that individuals consider work as playing or resting and enjoying the satisfaction of being respected and their real needs. Theory Z Introduced by William Ouchi in 1981 and based on a Japanese approach to motivating employees, emphasizing trust, quality, collective determination and cultural values. Theory X – Economic human theory (Taylor, Grant, Ghinbert, Fayol): This theory states that human nature is lazy, mechanical and disorganized. Human only works in moderation to make a living and always avoid work, just like material benefits without group and friend relations. Therefore, the most logical solution is to divide the work into repetitive tasks to make it easier to learn. Moreover, managers must regularly supervise, urge and inspect the performance of the 6 authorized staffs. A system with clear hierarchy and a strict reward and punishment regime is also established. This management style will make employees be worried and scared. They accept hard work because of both high wages and harsh employer. In such conditions, the employee will be tired, lack of creativity in the process of completing the assigned job. Theory Y – Social human theory (Gregor, Maslow, Likest): This theory assesses the underlying potentialities in humans as the great possibilities that need to be evoked and exploited. People in any position have a high sense of responsibility and work hard to complete their assigned work. Everyone finds himself useful and respected, shared responsibility and asserted. From this point of view and evaluation, the management method is applied through self-awareness, creating favorable conditions for employees to actively work and inspect their work. Managers must trust and actively engage employees in the work, having a mutual understanding between superiors and subordinates. Under this management style, employees find themselves important and have a role in the collective, so they are more responsible for the assigned work, voluntarily work and take full advantage of their potentialities to get the job done in the best way. Theory Z – Theory of Japanese enterprises: This theory states that satisfying employees is the key to high labor productivity. The absolute belief in employees, the delicacy in behavior and close coordination among the collective are the decisive factors for the success of human resource management in the business. According to this theory, managers care about their employees and create favorable conditions for them to study and share their rights appropriately. This method makes employees feel confident and loyal to the business, considering the business as their home. However, this style of management sometimes makes employees dependent and passive at work. 1.3 Encouragement through expectation The theory of expectation by Prof. Dr Victor Vroom (Yale School of Business) suggests that an individual will act in a certain way based on expectations of an 7 outcome or the attractiveness of such outcome. This model was introduced by V. Vroom in 1964, then revised and supplemented by some other researchers, including scholars Porter and Lawler (1968). V. Vroom’s theory of expectation is based on the following formula: Attractiveness x Expectation x Means = Motivation Figure 1.2: V. Vroom’s theory of expectation (1964) Where: • Attractiveness (Rewards) = Attractiveness for a goal (What is my reward?) • Expectation (Work performance) = trust of employees that if working hard, the task will be completed (How hard do I have to achieve the goal?) • Means (Belief) = employees’ belief that they will receive a reward when completing the task (Will people know and appreciate my efforts?) The achievement of these three factors is the motivation for someone to do something. It is the power that leaders can use to lead the collective to accomplish the set goals. When an employee wants to promote in his job, promotion is highly attractive to himself/herself. If an employee believes that when he/she works well, meet schedule requirements, etc., he/she will be appreciated by people, which means that he/she has a high level of expectation. However, if he/she knows that the company will recruit people from outside to fill in vacancies or apply for managerial positions rather than promote staff at lower levels in the company, he/she will has a low level of means and it will be difficult to motivate him/her to work better. The applications of this theory are summarized as follows: 8 Step 1 Step 2 Step 3 Increase expectations from Increase expectations Increase satisfaction level effort to work completion from work completion to efficiency  Choose the right  employee for the job.  Train good employees.   “Role-play” clearly at work.  Sufficiently supply necessary resources.  Instruct, monitor and  Measure work  Ensure valuable processes correctly. rewards (material & Describe good and bad spiritual rewards) results.  Particularize rewards. Explain and apply the  Minimize differences remuneration in mechanism based on satisfaction of results the degree of the work result actively collect feedback Figure 1-3: 3 application steps of V. Vroom’s theory of expectation 1.4. Encouragement through equity Equity Theory is a theory of employee encouragement launched by John Stacey Adams, a behavioral and management psychologist, in 1963. Like many other famous encouragement theories (Maslow’s hierarchy of needs or Frederick Herzberg’s Two-Factor Theory), Adams’s Equity Theory presents implicit and transformative factors that impact employees’ perceptions and assessments of their company and their work. Common applications of this theory in the management and leadership practice are:  Equity in combination with job performance management tools can collect feedback to evaluate and compare employees’ work performance, helping the organization identify which behaviors contribute to increased job performance and set standards for the best.  Motivate employees to work because timely work recognition from managers or supervisors is a top motivating factor for them. If an individual 9 finds himself underpaid, he will reduce his efforts to maintain “balance”. If he thinks that he is being paid well, he will try to work harder.  Manage employees through consideration of the correlation between the contribution rate and the outcome received by employees, thereby making appropriate adjustments. 1.5 Other applications in encouragement and motivation 1.5.1. Employee evaluation Employee evaluation is one of the top issues of human resource management. It is the basis for businesses to recruit, train, develop and treat personnel. Employee evaluation is aimed at determining the employee’s level of job performance, career development ability and collecting information about employees’ personal aspirations, thereby making the right decisions on personnel dispatch, assignment, promotions and remuneration for each employee. Employee assessment requires accuracy and fairness. If this job is done well, it will create a healthy and positive working environment as well as a healthy competition among employees. Each person tries to work better to receive good assessment and adequate remuneration. On the contrary, employee evaluation in a subjective, rational and unfair manner will create a stressful and inhibiting working atmosphere. Employees who are overestimated will not perform a newly assigned task well or become subjective and non-progressive meanwhile those who are underestimated will be discontented and depressed and lose their work motivation. As a result, businesses suffer from reduced labor productivity and quality and an open and friendly working environment is disrupted, adversely affecting the corporate culture and possibly losing potential employees. Employee evaluation process and contents: The employee evaluation process will be conducted through the following stages:  Determine the contents to be assessed: The contents to be assessed depends on the nature and position of the job.  Develop assessment criteria: The assessment criteria should be elaborated in a detailed, easy- to- understand, easy-to- identify and maximized manner. 10  Set benchmarks as the assessment goal: These benchmarks represent the wishes/requirements of the business for each position.  Conduct employee evaluation: Compare the collected information on the employee’s work performance with the corporate benchmarks.  Talk the evaluation results to employees. Several employee evaluation methods: Some main methods used to evaluate employees are:  Alternating ranking: Give some main criteria, list the people to be assessed and rank them from the best to the worst according to the given criteria. This method is simple but quite subjective and emotional.  Pair comparison: The employees are compared to each other in pairs based on the ranking criteria. This method is time-consuming and still subjective.  Grading method: Employees are assessed according to different criteria. Each criterion is divided into assessment levels (weak, average, fairly good, good, excellent) corresponding to the score (1, 2, 3, 4, 5). This method is very popular because it is easier to perform and more objective. 1.5.2. Employee rewards Organizational rewards: “Organizational rewards are the remuneration derived from the work performance at an organization, including intrinsic rewards and extrinsic rewards.”2 Intrinsic rewards can be understood as mental compensation that employees themselves have through work such as recognition, job satisfaction, personal development, etc. Extrinsic rewards are controlled and distributed directly by the organization and are tangible. 2 Lloyd L. Byars and Leslie W.Rue, “Human Resource Management” (IRWIN 1997), pp 314. 11
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