Employee Engagement in Finance - Banking Organizations in Vietnam: a Meta-Case Approach
Keywords:Business Administration, Employee Engagement, Finance, Banking, HRM, Vietnam
Purpose: The research objective of this article is to approach the diverse situations of commercial banks in Vietnam in examining employee engagement in order to create effective employee classes in performing tasks. This, in turn, ensures the stability in growth and creates a proud and traditional organizational culture.
Theoretical framework: The study has reviewed and selected the core contents of previously published studies globally to come up with its own research framework with Employee Engagement latent variable as the center, and other 7 main observed variables. At the same time, the study uses two groups of latent variables, JS and EA, respectively, to refer to job satisfaction and external attractive factors for employees of commercial banks in Vietnam.
Design/methodology/approach: Research designed in an inductive manner. However, conducting the research through a mixed method is still necessary for better conclusions. The author approached some typical commercial banks at once (also called, the meta-case approach, which includes the traditional approaches to Multiple Regression analysis and new assumptions in the approach, along with SEM-CB analysis).
Findings: Research has shown a relationship between the latent variables, Employee Engagement, Job Satisfaction and External Appeals. The correlation between variables in assumed cases show the importance of different groups of factors affecting the ultimate goal of the human resource management process in commercial banks. It is the loyalty to the organization of the employees. In particular, the outstanding factors that can be further analyzed are Promotion opportunities, Moral standards and Organizational brand.
Research, Practical & Social implications: The study is a good reference for the system of commercial banks, especially with the unique characteristics of commercial banks in Vietnam. In addition, having loyal employees creates enduring businesses.
Originality/value: The research has been conducted by the author, ensuring standards of research and ethical factors in publication. It contributes additional material to specialized research in Management, Human Resources and Business in general.
A.Maslow. (1943). A theory of human motivation. Psychological Review, 50, 370-396.
Aburub, B. (2020). Employee Retention & Engagement Solution. Open Journal of Business and Management, 8(6), 2805-2837. doi:10.4236/ojbm.2020.86173
Ahmad Ismail Al-Ma’ani. (2013). Factors affecting the organizational loyalty of employees in the Jordanian commercial banks. Interdisciplinary journal of contemporary research in business (IJCRB), 4(12), 878-896. Fonte: https://journal-archieves31.webs.com/878-896.pdf
Alexander Kofi Preko, John Adjetey. (2013). A Study on the Concept of Employee Loyalty and Engagement on the Performance of Sales Executives of Commercial Banks in GHANA. International Journal of Business Research and Management (IJBRM), 4(2), 51-62. Fonte: https://econpapers.repec.org/RePEc:aml:intbrm:v:4:y:2013:i:2:p:51-62
Aon Hewitt. (2011). Trends in Global Employee Engagement. Illinois, USA: Aon Hewitt (formerly, Hewitt Associates).
Bahjat Abdallah et al. (2017). An Integrated Model of Job Involvement, Job Satisfaction and Organizational Commitment: A Structural Analysis in Jordan’s Banking Sector. Communications and Network, 9(1), 28-53. doi:10.4236/cn.2017.91002
Bruce Buchanan. (1974). Building Organizational Commitment: The Socialization of Managers in Work Organizations. Administrative Science Quarterly, 19(4), 533-546. doi:10.2307/2391809
D. Ding et al. (2012). Relationship of Servant Leadership and Employee Loyalty: The Mediating Role of Employee Satisfaction,. iBusiness, 4(3), 208-215. doi:10.4236/ib.2012.43026
Derek Ong et al. (2014). Expressions of Fresh Graduates: Employee Loyalty in Malaysia. World Journal of Management, 5(2), 92 – 106. doi:http://dx.doi.org/10.21102/wjm.2014.09.52.08
Eskildsen, J. K. et al. (2004). Measuring Employee Assets—The Nordic Employee Index. Business Process Management Journal, 10, 537-550. doi:https://doi.org/10.1108/14637150410559216
Gorsuch, R.L. (1988). Exploratory Factor Analysis. Em J. C. Nesselroade, Handbook of Multivariate Experimental Psychology. Perspectives on Individual Differences (pp. 231–258). Boston, MA.: Springer. doi:https://doi.org/10.1007/978-1-4613-0893-5_6
Guillon, O. & Cezanne, C. (2014). Employee loyalty and organizational performance: a critical survey. Journal of Organizational Change Management, 27(5), 839-850. doi:https://doi.org/10.1108/JOCM-02-2014-0025
Hoàng Trọng, Chu Nguyễn Mộng Ngọc. (2008). Phân tích dữ liệu nghiên cứu với SPSS. Hanoi: Hong Duc Publishing House.
Jaupi, F. & Llaci, S. (2015). The Impact of Communication Satisfaction and Demographic Variables on Employee Engagement. Journal of Service Science and Management, 8(2), 191-200. doi:10.4236/jssm.2015.82021
Joseph F. Hair Jr. et al. (2016). A Primer on Partial Least Squares Structural Equation Modeling (PLS-SEM). California: Sage Publications, Inc.
Kazimoto, P. (2016). Employee Engagement and Organizational Performance of Retails Enterprises. American Journal of Industrial and Business Management, 6(4), 516-525. doi:10.4236/ajibm.2016.64047
Laura Book et al. (2019). The effects of leadership satisfaction on employee engagement, loyalty, and retention in the hospitality industry. Journal of Human Resources in Hospitality & Tourism, 18(3), 368-393. doi:https://doi.org/10.1080/15332845.2019.1599787
Loveman, G. W. (1998). Employee Satisfaction, Customer Loyalty, and Financial Performance: An Empirical Examination of the Service Profit Chain in Retail Banking. Journal of Service Research, 1(1), 18-31. doi:https://doi.org/10.1177/109467059800100103
Masood Ul Hassan et al. (2012). The Relationship between Person Organization Fit, Person-Job-Fit and Turnover Intention in Banking Sector of Pakistan: The Mediating Role of Psychological Climate. International Journal of Human Resource Studies, 2(3), 172-188. Fonte: https://www.macrothink.org/journal/index.php/ijhrs/article/view/2286/2174
Michelsen, C. (2021). Empowerment for Participation: Measuring Motivation, Stress, Defense Routines and Engagement. Psychology, 12(4), 511-535. doi:10.4236/psych.2021.124032
Pan, Yifei. (2018). On the Influencing Factors and Strategies of Employee Loyalty. Fudan Journal of the Humanities and Social Sciences, 11, 553–572. doi:https://doi.org/10.1007/s40647-018-0215-1
Peñaflor, M. & Juevesa, R. (2021). Management Practices and Employee Engagement in the Workplace: A Qualitative-Phenomenological Study. Open Journal of Business and Management, 9(1), 288-308. doi:10.4236/ojbm.2021.91016
Phyllis Korkki. (23 de 4 de 2011). The Shifting Definition of Employee Loyalty. Fonte: The New York Times: https://www.nytimes.com/2011/04/24/jobs/24search.html
Reichheld, F.F. (1996). The Loyalty Effect. Boston: Harvard Business School Press.
Robert M. Thorndike. (1995). Book Review : Psychometric Theory (3rd ed.) by Jum Nunnally and Ira Bernstein New York: McGraw-Hill, 1994, xxiv + 752 pp. Applied Psychological Measurement, 19(3), 303-305. doi:https://doi.org/10.1177/014662169501900308
Salanova, M. et al. (2005). Linking Organizational Resources and Work Engagement to Employee Performance and Customer Loyalty: The Mediation of Service Climate. Journal of Applied Psychology, 90(6), 1217–1227. doi:https://doi.org/10.1037/0021-9010.90.6.1217
Samuel Owusu-Ansah et al. (2016). Understanding the effects of techno-stress on the performance of banking staff. International Journal of Business Continuity and Risk Management, 6(3), 222-237. doi:10.1504/IJBCRM.2016.079010
Tabachnick et al. (2013). A Practical Approach to using Multivariate Analyses Using Multivariate Statistics (6th ed.). London: Pearson.
Tang, M. (2015). How to Enhance Employee Voice Behavior Based on Game Theory. Modern Economy, 6(3), 398-403. doi:10.4236/me.2015.63037
Yan Xia & Yanyun Yang. (2019). RMSEA, CFI, and TLI in structural equation modeling with ordered categorical data: The story they tell depends on the estimation methods. Behavior Research Methods, 51, 409–428. doi:https://doi.org/10.3758/s13428-018-1055-2
Yong SheeMun et al. (2013). Employee Engagement: A Study from the Private Sector in Malaysia. Human Resource Management Research, 3(1), 43-48. doi:10.5923/j.hrmr.20130301.09
Zhang, Y. (2016). A Review of Employee Turnover Influence Factor and Countermeasure. Journal of Human Resource and Sustainability Studies, 4(2), 85-91. doi:10.4236/jhrss.2016.42010
How to Cite
Copyright (c) 2022 Phan Minh Duc
This work is licensed under a Creative Commons Attribution-NoDerivatives 4.0 International License.
Authors who publish in this journal agree to the following terms: the author(s) authorize(s) the publication of the text in the journal;
The author(s) ensure(s) that the contribution is original and unpublished and that it is not in the process of evaluation by another journal;
The journal is not responsible for the views, ideas and concepts presented in articles, and these are the sole responsibility of the author(s);
The publishers reserve the right to make textual adjustments and adapt texts to meet with publication standards.
Authors retain copyright and grant the journal the right to first publication, with the work simultaneously licensed under the Creative Commons Atribuição NãoComercial 4.0 (http://creativecommons.org/licenses/by-nc/4.0/), which allows the work to be shared with recognized authorship and initial publication in this journal.
Authors are allowed to assume additional contracts separately, for non-exclusive distribution of the version of the work published in this journal (e.g. publish in institutional repository or as a book chapter), with recognition of authorship and initial publication in this journal.
Authors are allowed and are encouraged to publish and distribute their work online (e.g. in institutional repositories or on a personal web page) at any point before or during the editorial process, as this can generate positive effects, as well as increase the impact and citations of the published work (see the effect of Free Access) at http://opcit.eprints.org/oacitation-biblio.html