Staff vital for better banking
HA NOI (VNS)— The banking and finance sector should define training restructure and scale to meet the industry's development, said Tran Huu Thang, Deputy Director of the Human Resources Department at the State Bank Viet Nam (SBV).
|Customers at a Seabank office in Ha Noi. Viet Nam's banking sector needs more professionally trained staff if the sector is to succeed in raising its competitiveness. — VNA/VNS Photo Tran Viet
Speaking at a regional conference on aligning human resources to improve the competitiveness of the finance industry held in Ha Noi yesterday, Thang said human resources were one of the most vital aspects of the sector, especially in the overall restructuring process to enhance its competitiveness, creating a sustainable and transparent foundation.
He said the number of people who were specialised in the banking sector was lower than other sectors, despite the high number working in the industry.
Statistics showed that the percentage of people who were post-graduates in the sector accounted for 1.35 per cent, while the average was 1.75 per cent.
By the end of 2010, the sector employed more than 175,000 people with a growth rate of 10 per cent in the period of 2000-10, 7.2 per cent higher than the average economic growth.
He added that human resources had not been well used. For example, the central bank lacked economic specialists who had the capacity to research, forecast and build strategies to develop the banking system.
"The sector's human resources have not met the requirements of global integration as we lack useful tools to measure human management such as a set of career standards," he said.
The deputy said the sector also faced brain-drain because of inadequate and inappropriate policies.
Another survey by Haygroup, an American global management consulting firm, and the Institute of Manpower, Banking and Finance (BTCI) revealed that the number of graduates in the sector in the 2012-13 school year would be 29,000-31,000 people and 61,000 by 2016.
However, the survey said the number of people employed in banks would be only 15,000-20,000.
Stephen Choo, Haygroup's director and regional head of Insight of ASEAN, said universities had succeeded in providing enough people for the sector, but the quality issue should be reviewed.
He said banks and universities should work together to clarify what knowledge was needed to fill the gap between education and reality.
Sharing the ideas, Nguyen Duc Vinh, Chief Executive Officer of the Viet Nam Prosperity Joint Stock Commercial Bank (VPBank) and Chairman of the Institute of Manpower, Banking and Finance (BTCI), said the sector needed a new generation of managers and policy makers.
"There are a lot of people aged 25 to 35 working in banks. They have new knowledge, but they should be given additional education to meet with continuous changes in the world and domestic financial and monetary markets," Vinh said.
Nguyen Thu Ha, Deputy General Director of Vietcombank, said high quality human resources were one of the reasons her bank was a success.
"We have a process for staff planning and choosing managers according to specific criteria to build strong human resources," Ha said, adding that they assessed staff annually and rotated them between departments and branches.
Louis Taylor, CEO of Standard Chartered Bank in Viet Nam, Cambodia and Laos said the bank operated in 71 markets with 130 nationalities, making it a diverse workforce.
This was the reason that its strategy for cross-culture leadership had invested in adjusting employer branding where necessary, diversifying recruitment sources and adjusting selection criteria, he said.
Angel Blanco, Regional Director for Building Effective Organisations at Hay Group, an American global management consulting firm, affirmed that the pressure on human resources had become hotter, creating fierce competition among banks.
He said that a deep knowledge and effective management would help leaders create a working environment which lifted staff moral.
Carrie Leung, Chief Executive Officer at The Hong Kong Institute of Bankers, added that it was important to have a set of clear competence standards including those for recruitment and job placement, developing career pathways, education initiatives and certification for major positions within the banking industry. — VNS