An Evaluation of the Talent Acquisition and Retention Strategy of PwC Vietnam – Ho Chi Minh City Branch Assignment Number: One Weight: 75% Student Name: Van Ngoc Long Email: vnl1ocd@bolton.uk Student ID: 2124796 Supervisor: Dr. David Ratcliffe Date of Submission: May 𝟏𝒔𝒕 2023 1 Declaration I, Van Ngoc Long, solemnly declare that this dissertation titled "An Evaluation of talent acquisition and retention strategy of PwC Vietnam – Ho Chi Minh City Branch" is my original work and has not been submitted in whole or in part for any other degree or qualification at any university or educational institution. All sources used in this dissertation have been duly acknowledged and cited following the appropriate referencing style as Bolton University required. I further declare that I have not engaged in any form of plagiarism or academic misconduct in the research, analysis, and writing of this dissertation.
I have followed ethical principles and guidelines in conducting research, including obtaining appropriate permissions and approvals where required. I confirm that this dissertation represents my intellectual work and reflects my personal views and opinions. Any errors or omissions are my responsibility. Ho Chi Minh City, May 𝟏𝐬𝐭 2023 Declared by Van Ngoc Long 2 Acknowledgment I would like to express my heartfelt appreciation and gratitude to the following individuals and organizations who have supported me throughout the process of completing this dissertation: My supervisors, for their unwavering guidance, expertise, and invaluable feedback throughout the research and writing process.
Their mentorship and support have been instrumental in shaping the direction and quality of this dissertation. PwC Vietnam - HCMC branch for providing access to resources, facilities, and data that were crucial to the successful completion of this research. My research participants for their willingness to share their insights, perspectives, and experiences, which were essential in the data collection and analysis process. I would also like to extend my appreciation to all authors, researchers, and scholars whose work has been referenced in this dissertation, for their contributions to the field and for inspiring my research.
I am sincerely thankful to all the individuals and organizations mentioned above for their contributions, without which the completion of this dissertation would not have been possible. Ho Chi Minh City, May 𝟏𝒔𝒕 2023 The Author Van Ngoc Long 3 Contents Declaration .3 Table of Figures.7 LIST OF ABBREVIATIONS. THE BACKGROUND OF THE RESEARCH. THE OVERVIEW OF PWC VIETNAM - HCMC BRANCH.
THE STRUCTURE OF THE DISSERTATION .7 Chapter 2: Literature Review. HUMAN RESOURCES MANAGEMENT. TALENT ACQUISITION STRATEGY. Factors affecting talent acquisition strategy of PwC Vietnam - HCMC branch.
Challenges affecting talent acquisition strategy of PwC Vietnam - HCMC branch. TALENT RETENTION STRATEGY. Factors affecting talent retention strategy of PwC Vietnam - HCMC branch. Challenges affecting talent retention strategy of PwC Vietnam - HCMC branch.
SAMPLE SELECTION AND SIZE. TECHNIQUES AND PROCEDURES. METHODS OF ANALYSIS. Justification for choosing Research Design.33 Chapter 4: Findings and Analysis.
Result of Survey on TARS of PwC Vietnam - HCMC branch. TAS of PwC Vietnam - HCMC branch. Challenges of TAS of PwC Vietnam - HCMC branch. TRS of PwC Vietnam - HCMC branch.
Challenges of TRS of PwC Vietnam - HCMC branch .41 Chapter 5: Conclusions & Recommendations. SUMMARY OF THE RESULT. To evaluate the importance of factors and challenges affecting the TAS employed by PwC Vietnam - HCMC branch. To evaluate the importance of factors and challenges affecting the TRS employed by PwC Vietnam - HCMC branch.
To recommend improvements for the TAS of PwC Vietnam - HCMC branch. To recommend improvements for the TRS of PwC Vietnam - HCMC branch. RECOMMENDATION FOR FURTHER RESEARCH .50 QUESTIONNAIRE ON EVALUATION OF TARS OF PWC VIETNAM, HCMC BRANCH .50 RESEARCH ETHICS CHECKLIST .53 Research Ethics Checklist Form RE1 - Van Ngoc Long - 2124796.54 6 Table of Figures Table 1: Summary of studies related to the field of TARS Table 2: The result of factors affecting TAS of PwC Vietnam - HCMC branch by the mean and SD Table 3: The result of challenges affecting the TAS of PwC Vietnam - HCMC branch by mean and SD Table 4: The result of the TRS of PwC Vietnam - HCMC branch by the mean and SD Table 5: The result of challenges affecting the TRS of PwC Vietnam - HCMC branch by mean and SD Table 6: Summary of research findings Figure 1: Net Revenue and Profit After Tax of Big Four Companies in billion VND from 2017 to 2021 Figure 2: Campus recruitment activity of PwC Vietnam - HCMC branch Figure 3: Example of online recruitment through Facebook of PwC Vietnam - HCMC branch Figure 4: Conceptual Framework Figure 5: The Research Onion Framework Figure 6: The importance of factors affecting TAS of PwC Vietnam, HCMC branch by the chart Figure 7: The importance of challenges affecting the TAS of PwC Vietnam – HCMC branch by the chart Figure 8: The importance of factors affecting the TRS of PwC Vietnam, HCMC branch by the chart Figure 9: The importance of challenges affecting the TRS of PwC Vietnam, HCMC branch by the chart 7 LIST OF ABBREVIATIONS TARS Talent Acquisition and Retention Strategy TAS Talent Acquisition Strategy TRS Talent Retention Strategy TA Talent Acquisition TR Talent Retention SD Standard Deviation HCMC Ho Chi Minh City HRM Human Resources Management TM Talent Management PwC PricewaterHouse Coopers 8 Abstract Purpose - This study was conducted to evaluate the importance of factors that contribute to a TARS at PwC Vietnam, HCMC branch because the audit industry is a very dynamic industry as well as high competition for human resources with both practical experience and high background knowledge. Since then, we can aim to suggest some improvements to develop TARS at PwC Vietnam, HCMC branch.
Methodology - The study uses a survey to collect answers from employees of PwC Vietnam, HCMC branch who is also survey participant to analyze the employee's experience and assessment on the strategy of attracting and retaining employees. 100 people were surveyed and a set of 22 questions was drawn from the strategy used by PwC Vietnam, HCMC branch. Quantitative analysis will be used to analyze the data collected from the survey participants. Findings - The survey results show that all survey participants agree with the importance and challenges affecting TARS at PwC Vietnam, HCMC branch although there are still several factors that represent inconsistency among answer choices and need to be further investigated.
Thereby also shows the factors that need to be further improved to improve the strategy of attracting and retaining talent. Contribution - This study contributes to improving the TARS at PwC Vietnam, HCMC branch. Not only that, it also helps researchers to be more interested in the field of personnel in the auditing industry. Keywords: Talent acquisition, talent retention, talent management, PwC Vietnam – HCMC branch, audit industry.
THE BACKGROUND OF THE RESEARCH The audit industry is crucial in assuring stakeholders of the quality and dependability of financial information (DeZoort and Harrison, 2018). The rising level of complexity in company operations, globalization, and technological improvements have also made it difficult for auditors to comprehend and analyze the risks and complexities connected with audit engagements (DeFond, Raghunandan, and Subramanyam, 2002). Acquiring and retaining talent is critical for audit companies since it directly impacts the company's capacity to attract and keep experienced and competent audit experts. TA and retention methods are critical in the highly competitive audit sector to guarantee audit companies have a skilled team to perform high-quality audit services (Deloitte, 2018).
Qualified auditors have the skills, knowledge, and experience needed to successfully assess and evaluate the risks and complexities associated with audit engagements, hence increasing the credibility and dependability of audit findings (KPMG, 2019). Employees around Asia Pacific are evaluating their lives in the aftermath of COVID-19, and work is at the top of the list. According to a recent poll of almost 18,000 workers in Asia Pacific, the Great Resignation is poised to continue. Talent is starting to rise to unprecedented levels.
Hundreds of ex- pats have fled the region, and many locals have returned. Millions of people have resigned or switched occupations. Workers say they want to have more valuable work, a decent bargain on fair compensation, and the ability to be themselves at work. There are some Asia Pacific findings including Vietnam: only 57% of Asian Pacific employees are pleased with their employment.
One-third want to request a raise and one-third a promotion in the following 12 months. One in every five people plans to change jobs. Fewer than half of all employees (45%) believe their organization is upskilling its personnel, indicating a tremendous opportunity for improvement. One- third believe their territory lacks individuals who have the appropriate expertise.
Two-thirds believe they need help to make ethical decisions. Workers expect firms to be open and honest about important topics (Asia Pacific, 2022). There are several studies related to the topic of TARS of PwC Vietnam - HCMC branch and they are as follows: 1 Author(s) Topic Purpose Methodology Result (Rita Kagwiria Lyria, The effect of TR on The goal of this Descriptive and correlation The findings demonstrated a 2017) the organizational research was to look survey study designs were robust and favorable association performance of at the impact of TR employed. To pick between TR and organizational firms listed in the on the organizational respondents from the 10 performance across all listed Nairobi Securities performance of stratums of NSE-listed organizations.
Organizational Exchange enterprises listed on businesses, a stratified simple performance was found to be the Nairobi random sample approach was positively connected to TR. An R Securities Exchange. The target population squared of 0.489 suggests that consisted of 534 senior variants in the organization's executives from NSE-listed performance explain 48. A total of 224 the variability in TR by listed replies were chosen from the organizations.
TR was also found list of companies. to be statistically significant in influencing organizational success. (Naqvi and Bashir, IT-expert retention The research is an Questionnaires (applying a The results proved three 2015) through attempt to better Likert scale) were printed and hypotheses, which are: organizational understand the given to the heads of the Organizational commitment is commitment: A characteristics that respective human resources considerably and positively study of public might promote departments of nine IT connected to compensation. 2 sector information organizational organizations.
The Correlation Organizational commitment is technology commitment among Matrix was used to analyze strongly and positively professionals in high-tech data. connected to training. Pakistan professionals in Organizational Commitment is Pakistan's IT sector. strongly and positively connected to supervisor support.
(Jai Singh Parmar, TA and Retention To investigate The study included both The majority of respondents 2010) Strategies of SJVNL's current primary and secondary data stated that training is a crucial SJVNL—An pattern of personnel sources. The original data was component in developing, Analysis planning and acquired from a sample of growing, and sustaining effective development. - To respondents using a well- and successful leaders and assess employees' designed questionnaire. attitudes regarding Secondary data was gathered SJVNL's policies and by physically visiting the processes for various offices and reading acquiring talented the organization's published workers.
- To assess literature. The responses are employees' attitudes drawn from the ranks of concerning SJVNL's management, technocrats, retention methods and ministers. The 3 for talented workers. investigation's sampling approach consisted of 60 employees who were chosen using a lottery system.
The data were examined using a Likert Type Scale and a Weighted Average Score. Table 1: Summary of studies related to the field of TARS Based on the above studies, the author found that the topic of TARS was studied in many fields, time, research methods, and research objectives.