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People as a Source of Competitive Advantage During Recruitment and Retention of Senior Managers in Financial Services Sectors in Laos

Author

Listed:
  • Andries J. du Plessis

    (Department of Management and Marketing, Unitec Institute of Technology, Auckland, New Zealand)

  • Suksamon Sumphonphakdy

    (Department of Management and Marketing, Unitec Institute of Technology, Auckland, New Zealand)

Abstract

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.

Suggested Citation

  • Andries J. du Plessis & Suksamon Sumphonphakdy, 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, Inovatus Services Ltd., vol. 2(2), pages 7-14, June.
    • Handle: RePEc:mgs:ijoied:v:2:y:2016:i:2:p:7-14
    DOI: 10.18775/ijied.1849-7551-7020.2015.22.2001
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    More about this item

    Keywords

    Competitive advantage; Recruitment; Retention; Strategic partner;
    All these keywords.

    JEL classification:

    • M00 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - General - - - General

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