• The Journal of Asian Finance, Economics and Business
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• 제7권6호
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• pp.475-484
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• 2020

This study investigates determinants of talent retention in textile and garment companies located in Vietnam's Binh Duong province to propose feasible actions for their sustainable development in the current context of competition on the labor market. This study uses self-completed questionnaires to collect data which are then analysed with statistical methods including scale reliability, exploratory factor analysis, and multiple linear regression. Specifically, results from an official survey of 129 people who are regarded as talents in related companies show that there are ten determinants, ranked in descending order of their importance, including: working environment; training and promotion opportunities; salary and benefits; personal loyalty; relationship with colleagues; nature of work; organizational recognition; type of ownership; relationship with superiors; and working experience. Moreover, it is also found that foreign companies are better in retaining their talents than private domestic ones. These findings suggest that, depending on their available resources, organizations need to focus on some of these factors to improve their talent retention; among them, it is critical to provide creative space or create conductive working environment by providing talents with proper tools and equipment for them to feel excited with their work and get things done in an optimal, efficient and effective manner.