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VietNamNews

Banking sector lacks skilled execs

Update: October, 16/2014 - 10:12
Viet Nam's banking industry will be facing a serious shortage of high-ranking human resources in the next five to 10 years. — Photo dantri
HA NOI ((VNS)  — Viet Nam's banking industry will be facing a serious shortage of high-ranking human resources in the next five to 10 years unless it implements timely training strategies.

The online news portal infonet quoted figures from the Institute of Manpower, Banking and Finance (BTCI) showing that 4.84 per cent of the banking system's high-ranking human resources are currently aged more than 50 years and will be retiring in the next five to 10 years.

The resources include risk management experts and senior managers, as well as investment and financial experts. Experts have urged banks to map out long-term strategies for the early training of outstanding candidates for ranking management positions who are capable of leading the banking system in accordance with regional standards.

Besides, the institute said, the ageing workforce possesses invaluable experiences in overcoming financial crisis that banks should capitalise on.

The figures also showed that roughly 60 per cent of the banking industry's workforce was currently aged less than 30 years and would be considered the next leading generation who would decide the banking industry's future competitive capability.

The entire banking industry workforce is also forecast to continuously increase by roughly eight to 10 per cent per year in the coming years, reaching 240,000 by 2015 and 300,000 by 2020. — VNS

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