EFFECT OF TALENT MANAGEMENT STRATEGIES ON EMPLOYEE RETENTION IN THE INSURANCE INDUSTY SAMMY KAHARI KIGO Journals EFFECT OF TALENT MANAGEMENT STRATEGIES ON EMPLOYEE RETENTION IN THE INSURANCE INDUSTY (original) (raw)

Effect of Talent Management Strategies on Employee Retention in the Insurance Industy

2016

Success of any organization depends on the strategies put in place to ensure they retain talented employees. Today’s manager’s challenge is to keep the staff engaged and ensure attraction and retention of talented employees. The manager has to know the current acquisition and retention strategies employed by other organisations. The goal of most companies is to benefit from talented employee behavior and contribution in the workplace by promoting a win–win situation for both the company and workers. The purpose of this study was to evaluate effect of talent management strategies on employee retention in the insurance industry. This study was conducted within the insurance industry of which 5 Companies were sampled. The study was descriptive as the respondents only described the phenomena, but was not involved in any manipulation of the variables. The target population constituted 200 Assistant and Managers. Samples of 70 staff were selected based on simple random sampling method. Pr...

Talent management on retention: An Influential study

Dogo Rangsang Research Journal, 2020

The aim of this study is to identify the outcome of talent management on the retention of employees. The sample size of the study is 100 and the population consists of the employees of private banks in Cuddalore district. Data collection was done using a questionnaire and analysis of the data was performed using regression. The respondents were selected using simple random sampling. Findings show that the employee retention of the private banks is highly influenced by the talent management.

Achieving Competitive Advantage In Insurance Industry:the Impact Of Talent Management Strategies

2013

Insurance industry must continuously search for the development of its performances through talent management strategies in order to achieve new gains for its stakeholders and fulfill their needs and requirements since competition is much stiffed and forces of changes brought into the industry by recapitalization and consolidation. The study was carried out to find out whether talent management have an impact on achieving competitive advantage in the insurance industry by creating high performance of organization. So this paper reviewed related literatures with these concepts and then submitted the relationship between these variables. A combination of T-test and F-test and simple regression was the predominant means used for testing the main hypotheses. The study showed that talent management is crucial in organizational success and also concluded that insurance industry can improve their businesses and achieve a competitive advantage.

Effectiveness of talent management strategies

This paper investigates the effects of different types of talent management strategies on organisational performance. We introduce four different strategies and show how they affect organisational performance. For this purpose, we use a particularly detailed dataset of 138 Swiss companies. We find that talent management focusing on retaining and developing talents has a statistically significant positive impact on human resource outcomes such as job satisfaction, motivation, commitment and trust in leaders. Moreover, talent management practices with a strong focus on corporate strategy have a statistically higher significant impact on organisational outcomes such as company attractiveness, the achievement of business goals, customer satisfaction and, above all, corporate profit, more so than any other areas that talent management focuses upon.

The Effect of Talent Management on Employees’ Retention: A Study Among Professional Workers of Government Linked Companies in Malaysia

International Journal of Academic Research in Business and Social Sciences, 2021

Talent becomes the most powerful source of competitive advantage in today's global business climate. Researchers, top management as well as HR experts have always brought up talent management and employees' retention to discuss its significance. Thus, the aim of this research was to determine the relationship between talent management practices and employees' retention among professional workers of Government-linked companies (GLC) in Malaysia. Two core talent management practices tested in this study were performance management and rewards and compensations. This study was a correlational research. A total number of 140 professional workers were identified from these GLCs and census sampling technique was applied. The questionnaires distributed personally to the respondents. Pearson Correlation was used to determine the relationship between variables and regression analysis method to test the hypothesis. Results indicated that both talent management practices have positive correlations on employees' retention. However, multiple regressions analysis shows only performance management effect positively on employees' retention. The limitations of the study include a small sample size, (N= 140) and was not longitudinal in nature and could be limited to generalizability to other samples. This study provides an in-depth understanding on the implementation of talent management practices in retaining talent among professional workers. This study proves the significance of talent management practices for GLCs by providing further insight for organizations on how to adapt their talent management practices and fitting in different industries as well. The future direction is proposed to expand the research diameter to further explore the different dimensions of talent management.

Talent Management - A Strategic Tool for Employee Turnover & Retention

Emerging Concepts in Marketing and Human Resource Management, 2020

Today’s organizations are struggling with the problem of employee turnover more than ever. Various strategies have been propounded to retain the employees in the organizations. But there is no single strategy that can be applied universally and effectively to retain employees. This article gives emphasis to find role of talent management strategies to retain talent. Various aspects of talent management are considered which affects the satisfaction and motivation of employee to work with more satisfaction and motivation in the organization. So talent management can be helpful in retaining the employees.

A Study on Talent Management and its Impact on Organization Performance- An Empirical Review

International Journal of Engineering and Management Research, 2020

These days organization's talent is its primary source of competitive advantage. Performance of organization depends upon performance of its employees. If employees of an organization possess unique competence, that will differentiate them from their competitors. In this competitive environment retention of talented workforce is a major task for HR managers along with acquisition. Talent management is a very complex and critical task. Right Talent acquisition makes organization strategy more strong. The current global economic situation has increased overall jobseekers in employment market worldwide, but there is still notable talent shortage in different sectors and different countries, this leads to increase the problem of "Talent Mismatch".As today's corporate world requires a person with multitasking skill, talent acquisition is becoming very difficult. As a result, finding the "right" person for a particular job is becoming more challenging. Not only acquisition even retention of talented workforce has become greatest challenge for organization. Today's changing landscape of business requires its HR to act more strategically to build employee engagement which is a great tool for talent management. Talent Management focuses on how individuals enter; move up across or out of the organization. Talent Management will succeed with the support of strong organization structure. As better talent can change the future of business, Talent Management has to be given predominant role in organization. If organization implements talent management strategies effectively, that enhances employee's engagement which in turn helps to improve organization performance. Higher the employee engagement higher the productivity. This present study aims to identify the relationship between talent management and organization performance. This study is based on empirical research evidence build by literature reviews carried out in this direction. Researcher is intended to use different articles, research papers and literatures in order to identify the positive relationship between talent management and organization performance. This empirical research paper will provide insights to HR managers to build Talent management as a Strategic tool to build employee engagement and thereby improving organization performance.

The influence of talent management practices on employee retention and performance: An empirical study of Jordanian service organizations.

Problems and Perspectives in Management, 2023

This study aimed to examine the influence of talent management practices (recruitment and selection, training and development, rewards and compensation) on employee retention and employee performance in Jordanian service organizations. A questionnaire was adopted and distributed among the employees in the service organizations in Jordan; the study’s respondents were 267 employees from service organizations (telecommunication firms, banks, and tourism firms). SmartPLS 3 was used to analyze the data and to examine the measurement and structural models. The findings of the study indicated that rewards and compensation significantly and positively affected employee performance (t = 2.558) and employee retention (t = 5.336). Similarly, recruitment and selection significantly and positively influenced employee performance (t = 2.208) and employee retention (t = 5.822). Training and development also significantly and positively affected employee performance (t = 2.288) and employee retention (t = 2.699). The results suggest that implementing talent management practices (recruitment and selection, training and development, and rewards and compensation) can improve employee retention and performance in Jordanian service organizations.

Examining the impact of talent management practices on different sectors: A review of literature

2020

One of the major challenges encountering business all over the world is to structure, retain and sustain talent human capital. Doing the business as well as to adapt to shifting demographics and diversified work forces, corporate world has to strengthen their capabilities and rejuvenate their organizations. The study analyzes literature review on talent management practices in different sectors. There have been many practices obtained by diverse industries in order to deal with the talent available with them such as talent pool, talent nurturing, talent retention, etc. Talent management starts with employment process, configuration of the labour force to the organization, budding the people and getting constant response to help in performance of an individual or an organization. This research mean to extract talent management practices which are adopted in different major industries such as banking, healthcare, industrialized ,edification, hotel & IT industry. This paper aims to pro...