Effect of business culture on organization commitment of banking sector employees

Abstract

There has been a significant shift in the employment landscape in Vietnam's major cities, particularly in the banking sector after the COVID-19 outbreak. Many banks have to restructure their jobs and employees, thus impacting their cost management and operations. Banks need to take into account how to maintain the organizational commitment of employees in the long-term. This article investigates the effect of business culture on the organizational commitment of employees in the banking industry in Vietnam. A questionnaire survey is undertaken to collect information from 493 employees of the 31 top banks in order to accomplish this goal. The database was examined with the statistical program SPSS, by applying multivariate data analysis techniques to develop hypotheses. The findings showed that there are six factors that influence employees' commitment to commercial banks: (1) internal communication, (2) teamwork, (3) training and development, (4) reward and recognition, (5) consensus, and (6) core values. According to the findings of this study, organizational culture has a positive impact on employee commitment in the banking sector. The research thereby suggested some recommendations to build and adjust organizational culture to enhance the commitment of employees in commercial banks.