Low job satisfaction in Sacombank – Ky Hoa Transaction Office

Abstract

Ky Hoa Transaction Office (Ky Hoa) of Sacombank located in Su Van Hanh Street, District 10, Ho Chi Minh City is one of the top transaction offices of Sacombank, the top biggest public commercial bank in Vietnam. The transaction office has impressive growth since the very first day of business. It achieved the title of “Potential Transaction office”, a very honor title for a transaction office of Sacombank, place them equivalent to many branches, which usually included the branches and many smaller transaction offices. However, Ky Hoa’s management team still unsatisfied with the result of its business. Despite the great growth of many aspects like customer base, customer deposit and saving, services fee, foreign exchange business…, Ky Hoa’s profit still under performance as pointed out by both the management team of this transaction office and Sacombank headquarter. As profit is the key to the survival of any business, lacking of profit means the future of Ky Hoa is in danger. In order to figure out the problem with this transaction office, the full scale of problem finding methods have been conveyed including interview with Ky Hoa management team; managers of others transaction office of both Sacombank and competitors; focus group with all the related employees of Ky Hoa; and combined with related market condition and literatures. After all these step, the lacking of employee satisfaction of Ky Hoa (especially the employees of credit department) that lead to the symptom of low credit growth rate is the main problem of this transaction office. The possible cause of the problem also pointed out in according with the KPI of KY Hoa Credit department: the inexperience and limited knowledge of the Bank credit services of credit employees; the satisfaction of employees on salary, work load, benefits and promotion opportunities; and lack of guidance from supervisors. Therefore, the first solution for this problem is improving the knowledge of the bank’s services for both the sale team and management team. After that, the frequently KPI check for each of employee will be conveyed as the standard for credit department. There should be some type reward, visible and recognizable reward for the good work of employee. In the mean time, anyone who could not qualified or did not show significant improvement will be replaced by more competent candidates. For these solutions to be effective, the management team and supervisors also need to be restructured as creating the competing environment, providing guidance and encouragement for all members to achieve both personal and department targets. In other word, the harmony in working environment is the key to balance the need of employees, manager, superviors and customers