Mid Sweden University

This study aims to improve our understanding of the current status of HRM practices in an emergent market economy by describing and analyzing how HRM works and develops in the Vietnamese banking sector. In order to get a deeper insight into this topic, an exploratory qualitative interview approach and case study were conducted with ten employees from eight banks in Hanoi, Vietnam. The findings from the interviews implied that strategic HRM has not been completely implemented due to a lack of dynamic environment and transparent policy. Moreover, it seems that bank employees don not perceive their rights and benefits so well, thus, providing room for employers’ opportunistic behaviors. This paper has some practical implementations, e.g. it may help HR practitioners to outline bank employees’ retention strategy, and thus, reducing recruiting costs for banks. Furthermore, this paper has some limitations, so further research should be carried out to a greater amount of respondents and conducted on bank leaders or HR practitioners to obtain their perspectives for triangulation.