Dissatisfaction on commision of pos salesman in Ho Chi Minh City at Mirae Asset Finance Company (Vietnam)

Abstract

Nowadays, buying and paying monthly installments is no longer strange to Vietnamese consumers. High demand leads to abundant supply. There are dozens of financial companies emerging with strong capital and diverse competitive strategies. Along with that is the talent attraction strategy that companies build to own a dynamic workforce to increase the competitiveness of the business compared to the competition. Mirae Asset Finance Company (Vietnam) is not a new brand name in the financial industry, but it is a new comer in the field of consumer installment loans. Its Installment Loan department was only established 3 years ago compared to the company's 10-year history. Currently, when Installment Loan department is trying to expand its sales system by increasing human resources, the turnover rate of POS salesman in Hochiminh region is too high. It shows that a large number of credits consultants in this area joined the company and then left. The purpose of this thesis to find out the problems of Installment Loan department in Hochiminh city to get the situation and solve them. This report uses both of primary data and secondary research to analyze as well as conduct in-depth interviews with POS salesman and managers of Installment Loan department. It also bases on available literatures to verify some possible problems which can be occurred. From that, the thesis continuous to evaluate potential causes and combine with the MAFC's context to find out the real cause that are really existing in the firm. Finally, with comments of managers, thesis come to conclusion. To sum up, the thesis finds out that Dissatisfaction on commission is the main problem of high voluntary turnover rate of POS salesman in Hochiminh city at Installment Loan department of Mirae Asset Finance Company (Vietnam). The main cause which leads to this problem is the Miscommunication on commission. And the best solution is building an orientation training course about commission policy for all staffs including new and current POS salesman. This solution can improve the satisfaction of POS salesman in Hochiminh city about their commission and therefore, it increases POS salesman's productivity which get higher revenue for the company.