Factors influencing employee retention for sustainable entrepreneurship in emerging countries.
Authors: Hanh, N.T.P.T. and Liang, Y.
Conference: 5TH FPT EDUCATION CONFERENCE ON BUSINESS, ECONOMICS AND MANAGEMENT
Dates: 20-22 December 2024
Abstract:Entrepreneurship is crucial to foster economic resilience and development, this research investigated factors such as organizational culture, leadership, career adaptability.
This study used qualitative methodology, utilizing interviews with industry leaders in both Ha Noi and Ho Chi Minh City. Additionally, two focused groups with 22 participants were conducted with selected individuals from two primary groups: Group A consists of graduates who pursued studies abroad in the UK and returned to Vietnam, currently working at managing positions for more than 2 years while Group B comprises graduates from Vietnamese national universities. (insert:) The findings suggested that creating a positive organizational culture that values employees' contributions was essential for retaining talent in sustainable entrepreneurship ventures. Promoting work-life balance and well-being was also a crucial factor to enhance employee retention. Furthermore, effective leadership that fosters employee engagement, motivation, communication, and empowerment played a significant role. Another important highlight was individuals who demonstrated higher levels of career adaptability tended to undergo smoother transitions within their careers, which enhanced their employability and career commitment.
This study contributed to the understanding of human resource management, employability and career orientation and to provide insights and practical applications for entrepreneurs, business owners, policymakers, researchers to build effective employee loyalty programs to add values to organizations. Furthermore, it provided guidance for educational institutes’ owners and business program managers to design successful study programs that enhance students' employability and competitive advantages post-graduation. As a result, this research shed light on the high-quality human resource potential in Vietnam, serving as a foundation for a prosperous future.
Keywords: human resource development employee retention, employability
Source: Manual