This chapter shows findings from interviews. The three finding categories of this study are career choice of management associates, the effect of management associate programs on career development of management associates, and the difficulties they met and strategies they used which answer three research questions respectively. The findings and discussions are shown as follows.
Factors Affecting Career Choice of MAs
In this study, the process of management associates choosing their career are divided into three parts. First, the factors affecting MAs to join MA programs were discussed.
Furthermore, since most of interviewees still retained in their organizations but one interviewee resigned, the factors influencing retention and turnover intentions of MAs were also investigated.
Motivation
Career choice means one chooses one occupation from another. Agarwala (2008) and Tan (2010) stated that the most widely used three factors in career choices studies were intrinsic, extrinsic, and interpersonal factors. As the table 4.1 showed, the motivations of MAs were affected by the three factors.
Table 4.1.
Coding List for the Factors Affecting the Motivation of MAs to Join MA programs
Topics Categories Concepts Coding
The factors
Intrinsic factors Interest A1-1-5,C1-1-1,C2-2-6 Working experience A1-2-7, C2-2-5,G2-1-2
Learning experience A2-1-2,D1-1-2,C2-1-4, C2-2-7
(continued)
44 Table 4.1 (continued)
Topics Categories Concepts Coding
The factors
As management associates intended to find a job, they took industry into consideration first. Some management associates chose financial industry because of their majors in colleges and graduate schools. They would like to utilize their skills and knowledge in their future work. Some management associates chose to enter financial industry due to their major;
however, some were for their interest. Due to interests, they preferred financial industry.
Working experience in the past also influenced career choice of management associates.
Through working experience, they found whether they were suitable to work in the environment or not. Although they had great interests in it at first, they might change their mind after involving in.
Because I majored in law and MBA in college and graduate school respectively, I want to find a job which law and business can both be applied in. Financial industry is regulated by a lot of regulations, so I think it is a good option for me
to work in financial industry.( A2)
After having an internship in a consultant industry, I decided to choose the commercial bank. (A1)
Except for personal factors, external factors also had effect on decision making of MAs.
Financial industry consisted of insurance companies, commercial banks, securities companies, and fund companies. Despite management associates wanted to work in the financial industry,
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they had several options. Why did they choose commercial banks and to be a management associate? The answers were job availabilities, compensation, and career advancement.
Compared with other types of companies, there were more job opportunities in commercial banks. Since management associate programs were a package with training activities, good compensation and quick promotion, MAs saw it as a good opportunity for them. MAs were induced to take part in the selection by special characteristics and treatments. Most of participants mentioned that more training opportunities, quick promotion and potential career path were their main reasons to join MA programs. In addition, higher pay and better benefit were factors not only had effect on the motivation of join MA programs but also choosing companies. Some interviewees mentioned they also had opportunities to be management associates in other organizations. Finally, they chose the occupation with better compensation.
Except for commercial banks, another three types of companies in financial industry have little job openings. Being management associate is the best opportunities for a fresh graduate to do higher level work. (A1)
It seems that being management associates can have more opportunities. The main reason for me to join this program is the potential of future career development. (C2)
XX company also gave me offer at that time. After comparing salary, I chose the bank I work now. (E1)
In addition, friends had impact on career decision making of MAs. Some of their friends were also management associates provided information with them. This information made them have a basic understanding of MA programs and also helped them to choose in which company. Friends were not management associates also gave them encouragement and support. To sum up, friends had a significant influence on the motivation of being MAs.
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My friends are management associates in other banks. They told me which banks are better and provide higher pay.( E1)
There were some differences and similarities between findings and literature. According to Tan (2010) and Agarwala (2008), intrinsic factors in choosing careers are comprised by interest, person-job fit, and personal wish and value. However, the findings showed that except for interests, working experience and learning experience were also important factors influencing MAs on choosing careers. Extrinsic factors were comprised by professional and financial contribution of jobs, and market condition. The researcher found that the external factors of join MA programs were consistent with the literature. The market condition, compensation, career advancement did have significant influences on their choices. Moreover, in factors of career choices proposed by Tan (2010) and Agarwala (2008), interpersonal factors consisted of family expectation and significance influence from work colleagues, friends, managers and teachers. The finding only showed suggestions and encouragement from friends had influence on career choices of MAs.
Factors Influencing Retention of MAs
One of participants resigned after finishing two-year training program, however, others still retained in the same organizations until now. As a result, the factors influencing their retention were explored. The findings were shown as below (Table 4.2).
Table 4.2.
Coding List for the Factors Influencing Retentions of MAs
Topics Categories Concept Coding
Factors influencing
retention of MAs
Intrinsic factors Interest C1-8-38,C2-14-66,D2-13-51,G2-9-28 Person-job fit C1-9-39,F1-11-46
47 Table 4.2 (continued)
Topics Categories Concept Coding
Factors
After working for a period of time, management associate found they had interesting in financial industry or job contents increasing their intention to dig deeper. Except for interests, a participant mentioned that he really enjoyed in his job. As a result, this was his main reasons to stay in the organization. There was an interviewee proposed the importance of the correspondence between his ability and requirement of work environment. Since he was not good at cross-functional communicating and it was few opportunities for him to use the skill in his job now, he got comfortable feeling in the workplace.
I was not good at cross-functional communication and it was few opportunities for me to do it in the workplace now. As a result, I stayed. (C1)
Moreover, compensation, learning opportunities and future development potential affected MAs on retention intention. Since organizations provided good compensation, enough opportunities and good future to their satisfaction, they decided to stay longer. The finding also showed that future development was really important for MAs. One participant even said no matter he loved the job or not, if he could have better development, he would continue to work on it. In addition, making management associates have a feeling of accomplishment was a way of retaining. One interviewee mentioned the importance of senses
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of achievement. Because she was capable of providing helpful solutions for other staffs in the organization, she thought herself was useful. She enjoyed the sense of achievement.
If I don’t like this job but it could make me have better future development, I would stay.
(F1)
Social support also played a critical role on retention of management associates.
Management associates were seen as future leaders and they had more workload and longer working hours than other employees. Besides, they needed to be outperforming for sustaining competitiveness. As a result, they encountered many difficulties and felt stressful, causing them to give up. However, most of the participants didn’t be knocked down by challenges because people surrounded them, such as family, friends, work colleagues and managers, always stayed by their side. Their encouragements and suggestions had positive impact on management associates.
My family suggested me don’t change job randomly and my wife also said that to me. (E1)
My friends also encourage me to stay. They said this is a good job and provide higher salary.(E1)
One time I wanted to give up. My mentor said “why are you knocked down easily? Hold on!”( D1)
According to theory of work adjustment, the behaviors of adjustment depended on satisfaction and satisfactoriness. When the person’s needs were satisfied by reinforcers provided by work environments, they would retain on the position. Because management associates were satisfied by their interests, ability utilization, achievement, compensation and opportunities, they had maintenance behaviors because of satisfaction. Moreover, the retentions of MAs were not only related to these reinforcers but also social support from family, peers, coworkers and supervisors. Their support increased their intention to stay.
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Factors Influencing Turnover Intention of MAs
In this section, the factors influencing turnover intention of MAs were discussed. One participant resigned after finishing training activities. As a result, the reason for his leaving was explored. In addition, factors would be likely to contribute to turnover for other 11 participants were investigated.
Table 4.3.
Coding List of Factors Influencing Turnover Intention of MAs
Topics Categories Concept Coding
Factors also had trouble in getting along with his mentor, he still indicated that the biggest problem was person-job unfit. The importance of person-job fit was also proposed by another interviewee. If he could find jobs more suitable for him, he would leave for other organizations.
Compensation and opportunities of advancement had effect not only on motivation and retention but also turnover intention of MAs. When other organizations provided better pay or MAs didn’t have enough developmental opportunities, their turnover intention would be increased.
Now, I still have many learning opportunities in the divisions. But if organizations don’t provide these opportunities with me, I will tender my resignation. (D1)
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Supervisor had both positive and negative influence on career choices of MAs. Their encouragement increased their desire to retain; however, their management style would one cause of resignation. An interviewee said managers would affect his career choice but the most important thing for him was future development. In other word, it seemed like opportunities of advancement was a quite important element in career choices of management associates. Furthermore, some management associates indicated that family would be likely to result in their turnover. If they needed to spend more time on accompanying families, they would consider choosing other jobs with shorter working hours.
In theory of work adjustment, when people’s value and reinforcers provided by work environments were discorrespondence, individuals would felt dissatisfaction, and then they would find a proper way out or make adjustment. Compensation resulted in not only retaining but also turnover intention. Management associates might quit their jobs for a better salary.
Except for compensation, they also put great importance to the career potential. They needed enough opportunities of advancement or they would leave their companies. In TWA, Dawis (2004) proposed other factors, such as family and personality, had impact on work adjustment behaviors. The findings showed management style of supervisors, family and personality included in other factors proposed by Dawis (2004) influence retention intention of MAs.
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The Effect of MA Program on Career Development of MAs
Management associates received more trainings, greater attention and better treatments than other coworkers. The better treatments comprised “rewards, status, promotion, job opportunities training, and exposure to the top management. (Larsen, 1998)” Moreover, their managerial competences were expected to be developed after experiencing a series of training activities, including job rotation, specific skills training, special assignments and mentoring or coaching. To sum up, management associate program benefited career of MAs; on the contrary, it also brought great challenges to them.
Job Rotation
Job rotation means that employees could have a lateral move among different positions.
According to the official website of Chinatrust (2012), MAs had chances to rotate among front, middle, and back- end office. During the rotation, employees learned new skills and had responsibility in different tasks. The effect of job rotation on career development of MAs was presented as table 4.4.
Table 4.4.
Coding List of the Effect of Job Rotation on Career Development of MAs
Topics Categories Concept Coding
The effect of
52 Table 4.4 (continued)
Topics Categories Concept Coding
The effect of job rotation
on career development
of MAs
Build network Know key man A2-3-10,B1-2-13,C1-2-6,C1-3-10A, C1-11-49,C2-5-22,E1-5-18,E1-5-19,
Through job rotation, management associates had a macro-view of their organizations and learned the process of business. As management associates rotated, they needed to do the ground work the same as general employees did, such as foreign currency deposit, cash basis…etc. By doing it, they knew and obtained job-related knowledge and had a breadth understanding in each division’s operations. After having whole picture of organization and job-related knowledge, the view of management associates was broadened. Because of knowing the whole process, they understood the influence of each step and how business operated. They could use a broader view to provide overall suggestions and better services with customers.
After rotating among different divisions, I know how banks operate. (H1) Rotation can broaden your view. You can know each sector’s business. (B1)
Compared with other new general employees, I could understand the influence of each stage. (C2)
After rotation, you could do more practical and easy-implemented policy. (F1)
Another advantage for management associates to rotate in different units was build interpersonal network. Most of management associates mentioned that during rotation they knew job contents of other coworkers. If they met problem in the future, they could get the resource and find the key man quickly. Management associates also thought they learned the
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interpersonal skills through rotation. Since they were newcomers and members didn’t want to waste their time to teach someone only staying for a short period of time (Larsen, 1998), they tried their best to interact with coworkers and supervisors making them have willingness to share experiences and knowledge with them.
You could know the key man. When you met troubles, you would know which employees you needed to contact. (C1)
During job rotation, I learned the interaction skills. When I moved to a new division, I needed to think about how to get along with new colleagues. I tried to be part of them and make them love to teach me. I thought I learned the interaction
skills. (E1)
Management associates mentioned five advantages of job rotation, including having an understanding of the organization (Burke, 1997) and different organizational functions (Werner & DeSimon, 2008), learning job specific knowledge (Burke, 1997), having cross-functional perspective (Allread et al., 1996), and building networks within the organizations (Werner & DeSimon, 2008). As we saw, findings and literature were correspondence. Moreover, there was an advantage not mentioned in researches in the past—improve interaction skills. An interviewee pointed out his interaction skills were improved when he rotated in different divisions.
Specific Skills Training
Organizations provided some specific skills training, such as in-class seminars, on-line courses, or out-door activities to broaden MAs’ perspectives and develop their skills. Skills could be divided into hard skills and soft skills. Hard skills refer to skills needed to complete tasks. Soft skills mean skills which are needed to executive hard skills effectively. Both hard and soft skills of management associates were developed to meet organization’s needs. The effect of specific skills training on MAs was shown in table 4.5.
54 Table 4.5.
Coding List of the Effect of Specific Skills Training on Career Development of MAs
Topics Categories Concept Coding
The effect of
Management associates obtained the knowledge of products and financial industry and also updated the newest international information thorough training courses. Except for professional knowledge, they also learned many soft skills from courses, including presentation skills, negotiation, leadership, planning, time management, emotional management, and problem-solving skills.
Some management associates mentioned that they had outdoor education in the beginning. They experienced wilderness adventure programs and understood the importance
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of team building. Organizations declared challenges MAs would meet in advance and enhanced their adaptability through difficult activities, such as bouldering, bungee jumping…etc. Two interviewees proposed that even until now, they still remembered hardships in outdoor educations which making them be brave and keep goring. Apart from professional knowledge and personal skills being developed, management associates understood organizational core value via training activities. One advantage of outdoor education was new employees had a basic understanding of organizational culture and objectives.
The training classes focused on the financial knowledge. These courses were very useful.
(E1)
Some soft-skill courses are helpful for fresh graduate, such as presentation skills and problem-solving. (F1)
From outdoor training, I learned the importance of teamwork. The tasks were completed only when we had the same goal. (D2)
Building interpersonal network was one of benefits experiencing specific skills training of MAs. There were many opportunities for them to get together with MAs in different years.
In addition, when they took part in extracurricular courses, they knew many people working in financial industry. To sum up, MAs built interpersonal networks within and without the organization.
We might take courses with different grade MAs; a result, it was an opportunity for me to know them. (G1)
You could make friend with people in the same industry….. (G2)
The findings liked the state that specific skills training developed individual’s perspectives, diverse skills, understanding of organizational culture and needs (Vicere, Taylor,
& Freeman, 1994). In addition, a statement proposed by Kuznia (2004) indicated when high
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potentials attended skills training programs, they had intensive interaction with other high potential peers and subordinates which was correspondence with findings the researcher obtained. Moreover, MAs built interpersonal network not only with peers and subordinates within organizations but also with people without organizations.
Special Assignments
Special assignments refer discrete and temporary tasks. Dealing with different tasks increased one’s experiences, facilitating in learning new skills and concepts (Kuznia, 2004).
During coping with assignments, people would feel stressful and met many difficulties, such as dealing with people and the difference between practices and theories (McCall, 1988).
Individuals might be developed after going through difficult situations. In table 4.6, the effect of special assignments on career development of MAs was presented.
Table 4.6.
Coding List of the Effect of Special Assignments on Career Development of MAs
Topics Categories Concept Coding
The effect of
Management associates were usually assigned different assignments. For example, they needed to facilitate a new system and communicate with each employee to use the new system. Besides, they even needed to be an MC or make plans for organizational activities.
The assigned tasks were quite diverse. By doing different projects and tasks, management
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associates obtained new knowledge which is related to products, departmental operation and customer needed. MAs could learn different types of knowledge by doing assignments and fill gaps caused by short-term rotation.
I installed a derivative into a system. So, I needed the knowledge of systems and products. (D1)
I was in charge of building a financial model. I found there was a gap between theories and reality. In real life, a lot of variables should be considered to build a model. (F1)
Soft skills of MAs were developed through special assignments. Management associates mentioned that they learned the communication skills and logical thinking ability. When
Soft skills of MAs were developed through special assignments. Management associates mentioned that they learned the communication skills and logical thinking ability. When