CONFIRMATORY ANALYSIS OF TALENT RETENTION FACTORS: EMPIRICAL CASE OF BANKS IN THE SOUTHEAST VIETNAM

High turnover rate of talents in commercial banks in the Southeast Vietnam over the last few years urges us to identify the key factors affecting their retention. By using a self-completed questionnaire, we conducted a survey of 1,600 people working as team leaders, senior-officers, supervisors and managers holding at least bachelor degree working in different sections at 115 commercial bank branches/ transaction offices in Ho Chi Minh City and other five provinces in the regionduring June – August 2016. From descriptive and inferential statistics analyses, several key factors identified in this research include rewards and recognition, job characteristics, salary and benefits, opportunity for advancement and promotion, role ambiguity and engagement, physical working conditions, relationship with superiors, and relationship with colleagues, employee loyalty, job switching opportunity, and other demographic characteristics such as gender, age, working experience, educational qualification and organizational characteristics such as bank ownership and their sizes. The findings can help policy makers design and implement their best strategies to sustainably motivate, satisfy and retain their talents by incorporating these factors into their employment strategies and policies to increase level of talents’ retention, accordingly decrease the turnover rate of the talents among commercial banks in the Southeast Vietnam.