Through the survey above, we can see that: the number of employees who feel excited and pressured by their work accounts for 40%, only 14% feel their work is monotonous and boring. This shows that Saigonbank employees are interested in their work, creating excitement for the collective working atmosphere. The initiative in work is at a normal level, specifically the high initiative in work accounts for 23% mainly in the administrative sector, the normal level accounts for 59% and the low level is 18%.
Regarding promotion opportunities, 60% of employees surveyed said they have few opportunities for promotion, 20% said they have no opportunities for promotion, and only 19% said they have many opportunities for promotion.
2.3.9. Working environment
Any individual is part of a group and plays a role as a link in the work chain. Work congestion at one stage will affect the progress of the whole group. Therefore, it requires all employees to coordinate together to perform the assigned work well.
Table 2.18: Survey results of employees' views on working environment
Survey criteria
Management Level | Business | Administration | Total | |||||
SL | % | SL | % | SL | % | SL | % | |
Understanding of the mission, job responsibility | 26 | 54 | 8 | 88 | ||||
Absolutely clear | 8 | 31% | 10 | 19% | 3 | 38% | 21 | 24% |
Normal | 16 | 62% | 34 | 63% | 4 | 50% | 54 | 61% |
Unclear | 2 | 7% | 10 | 18% | 1 | 12% | 13 | 15% |
Ready to cooperate and support mutual | 26 | 54 | 8 | 88 | ||||
Have | 20 | 77% | 45 | 83% | 6 | 75% | 71 | 81% |
Are not | 6 | 23% | 9 | 17% | 2 | 25% | 17 | 19% |
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Be friendly
26 | 54 | 8 | 88 | |||||
Have | 20 | 77% | 42 | 78% | 5 | 63% | 67 | 76% |
Are not | 6 | 23% | 12 | 22% | 3 | 37% | 21 | 24% |
Urgent working style punctual | 26 | 54 | 8 | 88 | ||||
Have | 20 | 77% | 49 | 91% | 8 | 100% | 77 | 88% |
Are not | 6 | 23% | 5 | 9% | 0 | 0% | 11 | 12% |
Employees are treated fair, impartial | 26 | 54 | 8 | 88 | ||||
Have | 22 | 85% | 42 | 78% | 6 | 75% | 70 | 80% |
Are not | 4 | 15% | 12 | 22% | 2 | 25% | 18 | 20% |
(Source: Compiled from Appendix 1)
The survey results on the working environment are quite positive: 81% of employees are willing to cooperate and support each other in their work, only 15% do not clearly understand their duties and responsibilities at work, 76% of employees said that SGB employees behave friendly with each other, work quickly and punctually, 80% of employees said that they are treated fairly and without discrimination. All of this creates a smooth, cozy working environment that helps employees reduce stress at work.
CONCLUSION OF CHAPTER 2
Chapter 2 of the thesis briefly reviews the business performance of SGB and analyzes the content elements of the remuneration and benefits policy that SGB Quang Ninh is currently applying.
Through analyzing the current status of remuneration and benefits policies at SGB, we see that
There are still many problems that need to be solved:
1. The current construction of the job title coefficient at SGB is only relative. It does not really motivate workers, especially the young workforce, and does not attract truly capable workers to work at SGB Quang Ninh.
2. The bank has established criteria to evaluate the performance coefficient for employees, but the criteria are only general, so the application of the performance coefficient has not brought about positive results. The quality of work of each individual in the unit has not been openly evaluated. Most of them apply a maximum performance level of 1.0 (according to the work evaluation criteria ), only in cases of serious disciplinary violations is a lower performance coefficient applied. Looking at that, it shows that the salary payment at SGB Quang Ninh is still high, there is no encouragement and competition in work to bring about the highest efficiency.
3. With the same job position, the level of work completion and work efficiency are different, but the salary is the same. This does not create competition in work, does not encourage workers to work, because whether they work a lot or a little, do well or not, they still receive the same salary.
4. There are many welfare programs but they still do not meet the needs of employees and are still quite few compared to competitors. Therefore, SGB needs to add more welfare programs, as well as add more resources to the welfare fund to serve the purpose of improving the treatment of employees.
Based on the above mentioned problems in chapter 2, chapter 3 has the task of proposing solutions to overcome those problems.
Chapter 3:
SOME SOLUTIONS TO INNOVATE REMUNERATION AND BENEFITS POLICY AT SAIGON JOINT STOCK COMMERCIAL BANK FOR INDUSTRY AND TRADE, QUANG NINH
3.1. Development strategy and orientation for innovation in SGB's remuneration and benefits policy in the coming period.
3.1.1. SGB's development strategy in the coming period
With the goal of putting the new management system into operation in 2014, SGB in general and Quang Ninh Branch in particular will develop strongly and comprehensively; standards on service quality, network, transaction system, products, etc. will reach advanced levels, approaching the standards of foreign customers. Fully deploy retail banking utilities, striving from a traditional commercial bank to become a multi-enterprise urban bank with the same level as banks in the region. Being the No. 1 bank in a number of areas of operation such as retail services, payment services, international payments, etc., developing and expanding the network on the basis of applying advanced technology, maintaining a leading role in the Quang Ninh banking system.
a, Financial aspect:
Deposit growth increased by 60% mainly from residents
Profit growth reached 40%, ROA reached 1.4%, ROE reached 20%
Grow non-interest income by 50% and achieve a net non-interest profit to net operating income ratio of 20%.
Cost Control: Total Operating Expenses to Total Operating Income
net 38% to 40%.
Increase labor productivity by 5% with average after-tax profit per worker.
b, Resource development:
Develop training programs on sales promotion skills, cross-selling, transaction skills, counter service, credit risk management, for groups
staff (corporate customer specialist, personal finance specialist, teller, customer relations officer).
Build internal communication linked to the system's strategy and the Branch and Transaction Office to share information and train staff at different levels on transformation strategies and business strategies, and new policies of the entire system.
Develop stock option program and overall compensation policy
suitable for excellent employees.
3.1.2. Orientation for innovation of salary policy in the coming time
a, Directions for improvement in theory and cognition:
Improving the awareness of wages for workers is a basic requirement of any organization if it wants its remuneration policy to reach workers quickly. In the market economy, labor actually becomes a commodity and the value of that commodity is quantified in money - the price of labor - the cost of reproducing labor. It is necessary to make workers understand the nature of wages:
- For employees: salary is the basic and main part of income. Salary is really the economic motivation that motivates employees to care about their work, connecting them with their work. Therefore, correctly assessing their capacity and paying them the right and sufficient salary will motivate them to increase their work efficiency and attach responsibility to the work they are doing.
- For the owner of labor: The cost of paying wages to workers is one of the factors that make up the cost of production. Therefore, it is necessary to fully calculate the cost of reproducing labor so that workers do not feel disadvantaged while employers still save on wage costs.
- For the State: Wages and incomes of workers are one of the tools to regulate and manage the economy. The State must fully grasp information on wages and incomes to be proactive in regulating and managing the macro economy.
model and solve emerging social problems to ensure stability and development of the socio-economy.
b, Perfecting the viewpoint on reforming wage policy
- Average and equal pay in salary should be eliminated: SGB is one of the units that apply the State's salary policies passively and relatively rigidly, so the salary that SGB pays is still average, this is clearly shown in the conditions and time of salary increase, the gap between salary levels in the salary scale system... Therefore, it is necessary to recalculate and re-regulate the standards and conditions for salary increase, recalculate the gap between salary levels.
- Continue to monetize wages: the subsidy that still exists in wages needs to be eliminated. The needs for working conditions and living conditions of civil servants: housing, vehicles, telephones, etc. need to be fully calculated in the wages they receive. Only then can wages ensure their daily living expenses relatively accurately.
c, Perfecting salary regulations for the entire SGB system
- Standardizing labor budgeting: Labor budgeting is an important part of the salary regulation because it is directly related to calculating the unit price of salary and calculating the salary fund plan. To limit the large difference between the planned salary fund and the actual salary fund as well as accurately forecast expenses in the following period.
- Standardize branch ranking to calculate basic salary for each branch:
- Develop a separate salary scale system for SGB based on the State salary scale system to more accurately reflect the dedication of each officer and employee working at SGB.
3.2. Some solutions to innovate remuneration and benefits policies at SGB Quang Ninh
To achieve the set goals, SGB Quang Ninh must prepare comprehensively in terms of human resources, material resources and intellectual resources, in which the human factor is identified as
The Bank's top concern. The thesis proposes some solutions based on the analysis of the current situation of remuneration and benefits policies at SGB Quang Ninh in Chapter II and the Bank's orientation in the coming period.
In general, the method of calculating salaries for professional workers in theory has the effect of encouraging workers to work enthusiastically and passionately, reflecting the efforts of workers. However, in practice, the application has not been really effective. All employees, whether they work a lot or a little, make efforts, work enthusiastically or rely on others, all receive the same completion coefficient without job analysis and description, and there is no scientific method of job evaluation, so the salary payment is still arbitrary; the performance evaluation criteria are not specific for each job and each group of jobs; the labor quota at SGB is still heavily average, not ensuring fairness according to the contribution of each individual to the completion of the Bank's goals. Therefore, this thesis would like to propose some basic solutions to overcome the above-mentioned shortcomings.
3.2.1. Solution 1: Innovate salary payment based on the principle of accurately assessing the value of each job in conjunction with the suitability of the labor market.
From the analysis in Chapter 2, it can be seen that SGB's current salary viewpoint is still based on qualifications, ranks and work experience, rather than focusing on the actual value of work and the work efficiency that each person brings to the organization. That is the biggest drawback in paying compensation to employees at SGB. For example, people with long-term working experience receive higher salaries even though they do the same jobs as those who work less time, even doing much simpler jobs, with the same quality of work.
Furthermore, highly qualified people who contribute a lot to business results are difficult to find and attract, and are paid lower salaries than those with low qualifications who contribute little to the business results of the unit. This is the reason for dissatisfaction with the salary level that employees receive. This disadvantage is the basis for the author to propose an alternative solution.
Change the salary perspective from the perspective of paying wages based on qualifications, ranks and experience to the perspective of paying wages based on work. Paying wages based on work will meet the operation of economic laws affecting the labor market and ensure that labor value is the basis of labor commodity prices, high labor value means high price and vice versa, the purpose of this solution is to reduce employee dissatisfaction in work, make employees see that their salary is worth the effort they put in, at the same time create competition in work, attract highly qualified workers, pay wages based on the value of work, pay wages based on work and work efficiency is in accordance with the law of labor supply and demand.
To solve this problem, the Board of Directors needs to change their perception in the use and treatment of labor. They must clearly understand the point of view that if the job is more difficult, the number of people willing to accept the job is less, which means that the demand for labor for that job is higher than the supply, so the price for that job must also be higher to attract people to do it. On the contrary, if the job is easy to do, the number of people willing to accept the job is high, which means that the supply of labor for that job is high, so the price for that job can be reduced.
Paying wages based on work value helps employees feel secure knowing that their income is reflected in the value of their work, their contributions, and their performance. To implement this solution, SGB needs to implement the following tasks:
1. It is necessary to conduct a salary survey on the labor market for the positions that SGB currently has. This survey can be done by itself, or assigned to the human resources department to undertake a project with a certain time limit, such as 6 months. SGB can also hire a professional consulting unit to conduct it or buy information from consulting organizations that specialize in providing salary and benefits information.
2. Implement the development of job descriptions for all positions.
SGB. This work needs to be done immediately as it is a core requirement to ensure