DETERMINANTS OF TALENT RETENTION IN COMMERCIAL BANKS IN THE SOUTHEAST VIETNAM

To deal with the high turnover rate of talents in commercial banks in the Southeast Vietnam, this paper aims at identifying the key factors affecting their retention. With a self-completed questionnaire designed on five point Likert scale and directly delivered to 608 people working as team leaders, senior-officers, supervisors and managers holding at least bachelor degree working in different sections at 94 commercial bank branches/ transaction offices in Ho Chi Minh City and other five provinces in the region, descriptive and inferential statistics (Exploratory Factor Analysis, Cronbach’s Alpha, and Multiple regression analysis) were employed to explore such relationship. The key factors identified include salary, promotion, physical working conditions, benefits, relationship with colleagues, organizational recognition, relationship with superiors, gender, age, working experience, ownership of banks and the size of banks. Based on the findings, some managerial implications are suggested to assist managers and policy makers in designing and implementing their best strategies to sustainably motivate, satisfy and retain their talents by incorporating these factors into their employment relations strategies and policies in order to increase level of talents’ retention, accordingly decrease the turnover rate of the talents among commercial banks in the Southeast Vietnam.