Talent Management: The Line of Attack for Employee Retention

Apparently increasing turnover poses a huge burden on organizations as they not only have to deal with the increased replacement costs but also they have to ensure that productivity is maintained. Retention is difficult to focus on as so many factors affect it and organizations require time to cater these factors. But many organizations have failed to make a constructive effort to investigate about these factors. They are unaware of what factors to consider and how to change them. Hence, I was eager to determine that what factors compel individuals to leave their jobs and how can organizations improve their employee retention.

This inspiration introduced me to the concept of Talent Management, which has proved to be a very effective and comprehensive tool to improve employee defection. Talent management is a strategic priority for retaining employees as the focus of talent management is to give employees what they want and desire from their job and workplaces. Talent management produces capability, commitment and alignment which altogether helps in retention of employees.

In this way, I decided to work on this topic and investigated that whether Talent Management is effective in the local working environment and tried to dig out the factors that compel employees to leave their jobs.

Findings
From the research it was observed that a large majority of the respondents agreed that employees now consider themselves as mobile investors, consideration of selecting individuals as talented is solely based on performance, as organizations are only interested in productivity.

People agreed that organizations should be transparent in disclosing talented employees and internal mobility across divisions does not encourage them to stay. It was found that people did not left their last job due to low pays but due to absence of meaningful and challenging work, lack of opportunities for growth and advancements and due to poor relation with their supervisors. From the cross section analysis, the results indicated that more males considered cross functional assignments helpful in learning new things, more females agreed that due to pay dissatisfaction they left their last jobs and they do not considered internal mobility to encourage employee retention.

More experienced individuals considered employees as mobile investors and claimed that they left their last job due to poor relation with their bosses than individuals with less experience. Additionally, employees claimed that mentoring and coaching could provide them professional guidance and psycho-social support.

Thus, organizations can make a big difference by doing simple things and can create a win-win situation.

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 By Aumaima A



Article Source:  Talent Management: The Line of Attack for Employee Retention