IDEAS home Printed from https://ideas.repec.org/a/gam/jjrfmx/v15y2022i7p307-d861911.html
   My bibliography  Save this article

Mapping the Sustainable Human-Resource Challenges in Southeast Asia’s FinTech Sector

Author

Listed:
  • An-Chi Wu

    (Department of International Business, Tamkang University, New Taipei City 251, Taiwan)

  • Duc-Dinh Kao

    (Department of International Business, Tamkang University, New Taipei City 251, Taiwan)

Abstract

The significance of human resources (HRs) has increased with the increasing awareness of sustainability issues and corporate social responsibility. However, the rapidly emerging financial technology (FinTech) sector still presents an HR challenge. Southeast Asia, which accounts for the highest adoption rate of mobile banking, has set new records regarding the number of transactions, as well as funding amount, in recent years. Moreover, borderless financial cooperation, coupled with in-demand tech talents, will rapidly boost the development of the region. Thus, this study explored the new opportunities as well as challenges of a new business model, FinTech, in Southeast Asia’s banking and enterprise sector in the post-COVID-19 era. It also examined how organizations can achieve sustainable development via the interaction of the new operating model with existing ones by developing relevant strategies in the context of the “new normal” working condition. By reviewing the literature on HR management (HRM), we proposed how banking and FinTech companies could supply tech talent with the relevant experience or engage in training projects before recruiting. Additionally, since organizations desire sustainability-minded employees, they offer flexible working arrangements and well-established reward policies that can create remote work performance and retention rates. Being committed to upskilling and reskilling global talent by offering talent mobility opportunities across the organization, as well as by fully embracing the creation of value for cross-cultural talent, companies can support their employees’ long-term career goals and maintain competitive strength. Finally, organizations must focus more on flexible adjustments and cross-domain communication for global talent. Forming strategic alliances with FinTech companies would be an alternative conduit that can ensure that regional laws comply with the local culture and national law, for bias and conflict reduction.

Suggested Citation

  • An-Chi Wu & Duc-Dinh Kao, 2022. "Mapping the Sustainable Human-Resource Challenges in Southeast Asia’s FinTech Sector," JRFM, MDPI, vol. 15(7), pages 1-26, July.
    • Handle: RePEc:gam:jjrfmx:v:15:y:2022:i:7:p:307-:d:861911
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/1911-8074/15/7/307/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/1911-8074/15/7/307/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Umble, Elisabeth J. & Haft, Ronald R. & Umble, M. Michael, 2003. "Enterprise resource planning: Implementation procedures and critical success factors," European Journal of Operational Research, Elsevier, vol. 146(2), pages 241-257, April.
    2. Anna N. Zhilkina & Marina V. Karp & Anna V. Bodiako & Samal M. Smagulova & Tatiana M. Rogulenko & Svetlana V. Ponomareva, 2022. "Socially-Oriented Approach to Financial Risk Management as the Basis of Support for the SDGs in Entrepreneurship," Risks, MDPI, vol. 10(2), pages 1-18, February.
    3. Meles, Antonio & Porzio, Claudio & Sampagnaro, Gabriele & Verdoliva, Vincenzo, 2016. "The impact of the intellectual capital efficiency on commercial banks performance: Evidence from the US," Journal of Multinational Financial Management, Elsevier, vol. 36(C), pages 64-74.
    4. Chen, Ji & Huang, Jiayan & Su, Weihua & Štreimikienė, Dalia & Baležentis, Tomas, 2021. "The challenges of COVID-19 control policies for sustainable development of business: Evidence from service industries," Technology in Society, Elsevier, vol. 66(C).
    5. Kenneth Rogoff, 2015. "Costs and Benefits to Phasing out Paper Currency," NBER Macroeconomics Annual, University of Chicago Press, vol. 29(1), pages 445-456.
    6. Huiqin Zhang & Ting Deng & Meng Wang & Xudong Chen, 2019. "Content Analysis of Talent Policy on Promoting Sustainable Development of Talent: Taking Sichuan Province as an Example," Sustainability, MDPI, vol. 11(9), pages 1-17, April.
    7. Christopher S. Tang, 2022. "Innovative Technology and Operations for Alleviating Poverty through Women's Economic Empowerment," Production and Operations Management, Production and Operations Management Society, vol. 31(1), pages 32-45, January.
    8. Marcelo Denis Woo, 2019. "Interpretive Evaluation: E↵ects of Confirmation Bias on the Retribution to Talent," Asociación Argentina de Economía Política: Working Papers 4207, Asociación Argentina de Economía Política.
    9. Nagwan Abdulwahab AlQershi & Ramayah Thurasamy & Gamal Abdualmajed Ali & Hussein Abu Al-Rejal & Amr Al-Ganad & Ebrahim Frhan, 2021. "The effect of talent management and human capital on sustainable business performance: an empirical investigation in Malaysian hospitals," International Journal of Ethics and Systems, Emerald Group Publishing Limited, vol. 38(2), pages 316-337, December.
    10. Laura Giuliano & David I. Levine & Jonathan Leonard, 2011. "Racial Bias in the Manager-Employee Relationship: An Analysis of Quits, Dismissals, and Promotions at a Large Retail Firm," Journal of Human Resources, University of Wisconsin Press, vol. 46(1), pages 26-52.
    11. Cem Tanova & Steven W. Bayighomog, 2022. "Green human resource management in service industries: the construct, antecedents, consequences, and outlook," The Service Industries Journal, Taylor & Francis Journals, vol. 42(5-6), pages 412-452, April.
    12. Robert Jeyakumar Nathan & Budi Setiawan & Mac Nhu Quynh, 2022. "Fintech and Financial Health in Vietnam during the COVID-19 Pandemic: In-Depth Descriptive Analysis," JRFM, MDPI, vol. 15(3), pages 1-19, March.
    13. Xiaoyan Liang & Xiwei Zhang & Renee Paulet & Leven Jianwen Zheng, 2022. "A Literature Review of the COVID-19 Pandemic’s Effect on Sustainable HRM," Sustainability, MDPI, vol. 14(5), pages 1-26, February.
    14. Karim, Sitara & Naz, Farah & Naeem, Muhammad Abubakr & Vigne, Samuel A., 2022. "Is FinTech providing effective solutions to Small and Medium Enterprises (SMEs) in ASEAN countries?," Economic Analysis and Policy, Elsevier, vol. 75(C), pages 335-344.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Dongjing Chen & Xiaotong Guo, 2023. "Impact of the Digital Economy and Financial Development on Residents’ Consumption Upgrading: Evidence from Mainland China," Sustainability, MDPI, vol. 15(10), pages 1-25, May.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Anthony Edo & Nicolas Jacquemet & Constantine Yannelis, 2019. "Language skills and homophilous hiring discrimination: Evidence from gender and racially differentiated applications," Review of Economics of the Household, Springer, vol. 17(1), pages 349-376, March.
    2. Mohammad AL-Zoubi, 2018. "The Role of Technology, Organization, and Environment Factors in Enterprise Resource Planning Implementation Success in Jordan," International Business Research, Canadian Center of Science and Education, vol. 11(8), pages 48-65, August.
    3. Bernd Frick & Anica Rose, 2017. "Over the top: Team composition and performance in Himalayan expeditions," Working Papers Dissertations 24, Paderborn University, Faculty of Business Administration and Economics.
    4. Witold Chmielarz & Marek Zborowski & Mesut Atasever, 2022. "Internet Users’ Approach to HRM Portals in the Context of Sustainable Development—A Comparative Analysis of Poland and Türkiye," Energies, MDPI, vol. 15(21), pages 1-24, November.
    5. Serhat Yuksel & Hasan Dincer & Senol Emir, 2017. "Comparing the performance of Turkish deposit banks by using DEMATEL, Grey Relational Analysis (GRA) and MOORA approaches," World Journal of Applied Economics, WERI-World Economic Research Institute, vol. 3(2), pages 26-47, December.
    6. Akca Yasar & Gokhan Ozer, 2016. "Determination the Factors that Affect the Use of Enterprise Resource Planning Information System through Technology Acceptance Model," International Journal of Business and Management, Canadian Center of Science and Education, vol. 11(10), pages 1-91, September.
    7. Alfred Duncan & Charles Nolan, 2020. "Reform of the UK Financial Policy Committee," Scottish Journal of Political Economy, Scottish Economic Society, vol. 67(1), pages 1-30, February.
    8. Feng, Wei & Sun, Shujun & Yuan, Hang, 2023. "Research on the efficiency of factor allocation in the pilot free trade zones," Economic Analysis and Policy, Elsevier, vol. 79(C), pages 727-745.
    9. Maria Elisabete Duarte Neves & Maria Do Castelo Gouveia & Catarina Alexandra Neves Proença, 2020. "European Bank’s Performance and Efficiency," JRFM, MDPI, vol. 13(4), pages 1-17, April.
    10. Juha Lukkarinen & Jukka Majava, 2020. "Supplies Inventory Management in a Corporation Context: A Case Study," International Journal of Management, Knowledge and Learning, International School for Social and Business Studies, Celje, Slovenia, vol. 9(2), pages 169-184.
    11. Bond, Timothy N. & Lehmann, Jee-Yeon K., 2018. "Prejudice and racial matches in employment," Labour Economics, Elsevier, vol. 51(C), pages 271-293.
    12. Umble, Michael & Umble, Elisabeth J., 2006. "Utilizing buffer management to improve performance in a healthcare environment," European Journal of Operational Research, Elsevier, vol. 174(2), pages 1060-1075, October.
    13. Hasan AL JAFA, 2020. "A Case Study For The Crm Software Selection Process In A Transportation Company Using An Integrated Ahp And Qfd Approach," SEA - Practical Application of Science, Romanian Foundation for Business Intelligence, Editorial Department, issue 24, pages 337-351, December.
    14. Molnár Bálint & Benczúr András & Szabó Gyula, 2013. "Selection Process of ERP Systems," Business Systems Research, Sciendo, vol. 4(1), pages 36-48, March.
    15. Fındık, Derya & Beyhan, Berna, 2014. "A Perceptual Measure of Innovation Performance: Micro Level Evidence from Turkey," MPRA Paper 60961, University Library of Munich, Germany.
    16. Giancarlo Bertocco & Andrea Kalajzić, 2019. "A Keynes + Schumpeter model to explain development, speculation and crises," Working Papers PKWP1916, Post Keynesian Economics Society (PKES).
    17. Fanfani, Bernardo, 2022. "Tastes for discrimination in monopsonistic labour markets," Labour Economics, Elsevier, vol. 75(C).
    18. Arteta,Carlos & Kose,Ayhan & Stocker,Marc & Taskin,Temel, 2016. "Negative interest rate policies : sources and implications," Policy Research Working Paper Series 7791, The World Bank.
    19. Shuya Wang & Xinjia Tian & Hui Wang & Chang Liu & Zhilin Wang & Qiuhua Song, 2023. "Forecasting and Coupled Coordination Analysis of Supply and Demand for Sustainable Talent in Chinese Agriculture," Sustainability, MDPI, vol. 15(9), pages 1-18, April.
    20. Andrea Garnero & Stephan Kampelmann & François Rycx, 2014. "The Heterogeneous Effects of Workforce Diversity on Productivity, Wages, and Profits," Industrial Relations: A Journal of Economy and Society, Wiley Blackwell, vol. 53(3), pages 430-477, July.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jjrfmx:v:15:y:2022:i:7:p:307-:d:861911. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.