People as a source of competitive advantage during recruitment and retention of senior managers in financial services sectors in Laos
Du Plessis, Andries; Sumphonphakdy, Suksamon
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Citation:Du Plessis, A.J., & Sumphonphakdy, S. (2016). People as a Source of Competitive Advantage During Recruitment and Retention of Senior Managers in Financial Services Sectors in Laos. International Journal of Innovation and Economic Development, Volume 2, Issue 2, June, pp.7 – 14. doi:DOI: 10.18775/ijied.1849-7551-7020.2015.22.2001
Permanent link to Research Bank record:https://hdl.handle.net/10652/3566
The focus of the paper is to identify the importance of recruiting and retaining senior management in the banking industry in Laos. Both quantitative and qualitative research methods were adopted to collect data from three banks in Laos. Interview section: the questions were to explore the understanding of concepts of HRM, perspectives towards HRM about recruitment and retention. Questionnaire section: part one – demographics data, part two attitudes towards HRM processes recruitment and retention. Findings: HRM plays a critically important role in banks in keeping their competitive advantage; lack of development and implementation of HRM practices and policies to recruit and retain the right people.
Keywords:Lao PDR, banks, financial sector, senior management, recruitment, retention, human resources management (HRM)
ANZSRC Field of Research:150305 Human Resources Management, 150203 Financial Institutions (incl. Banking)
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