Challenges for Talent Management Practices: Investigation in the Vietnamese Banking Sector

Abstract

This study aims to identify and analyze the challenging factors at different levels for talent management practices in state-owned commercial banks in Vietnam and propose suitable managerial implications. The study was carried out with the employment of qualitative method, in which semi-structured interviews were conducted with middle-level managers in state-owned commercial banks. Based on the research results, the challenges are classified into four levels, including macro, industrial, organizational and individual levels. Challenges at the macro level include the impact of the global recession and labour mobility across sectors. Challenges at the industrial level include technological transformation in the banking sector and the competition for talent among banks. Challenges at the organizational level are related to the large scale of operation of State-owned commercial banks and the complicated and time-consuming promotion and personnel development process. Besides, the challenges on the individual level are the differences in individual aspirations, needs, and motivations of talented employees.