A CONCEPTUAL REVIEW OF THE TALENT MANAGEMENT AND EMPLOYEE RETENTION IN BANKING INDUSTRY
Keywords:
Talent Management, Employee Retention, Banking Industry, Working Environment.
Abstract
The value of talent workers, talent management and talent retention has increased in the increasing economic circumstances of the world. Talented and devoted employees are often an integral part of every company. Smart, sophisticated, digitally literate, internationally astute and operationally agile businessmen are considered talented individuals. Talent management means that organisations have access to strategic planning with the best candidates with relevant expertise placed in the right place. Therefore, the aim of this study is to develop a conceptual model that explain the relationship between talent management and employee retention. The study will be used to accumulate empirical literature by the name of talent management and talent retention in different online database sources such as Google Scholars, Springer Link, Wiley, Science Direct, JSTOR, Emerald full text, Scopus, and EBSCO HOST, etc. The review findings of the study shown that any success or loss of a company mostly depends on the activities and survival of talented employees. The study also found that the retention of employees is one of the challenges that many public and private organisations face, has become an even greater challenge facing human resources professionals because there is a luxury of choice for talented candidates in the global job skills market. At the same time, there is a lack of research emphasizing only on banking industry. The proposed conceptual model depicts the significant effect of working environment and other dimensions of talent management and its effect on employee retention in banking industry.
References
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Ashraf, M. A. (2020). Demographic factors, compensation, job satisfaction and organizational commitment in private university: an analysis using SEM. Journal of Global Responsibility, 11(4), 407–436. https://doi.org/10.1108/jgr-01-2020-0010
Ayodele, T. O., Ekemode, B. G., Oladokun, S., & Kajimo-Shakantu, K. (2020). The nexus between demographic correlates, career and organizational commitment: the case of real estate employees in Nigeria. Journal of Facilities Management, 18(5), 521–545. https://doi.org/10.1108/JFM-07-2020-0047
Buers, C., Karpinska, K., & Schippers, J. (2018). Managers’ retention decisions regarding young intermediate-level educated employees. International Journal of Manpower, 39(2), 254–268. https://doi.org/10.1108/IJM-05-2016-0114
Chang, W., & Busser, J. A. (2020). Hospitality career retention: the role of contextual factors and thriving at work. International Journal of Contemporary Hospitality Management, 32(1), 193–211. https://doi.org/10.1108/IJCHM-10-2018-0831
Chaudhuri, S., Arora, R., & Roy, P. (2020). Work–Life balance policies and organisational outcomes – a review of literature from the Indian context. Industrial and Commercial Training, 52(3), 155–170. https://doi.org/10.1108/ICT-01-2019-0003
Chinyio, E., Suresh, S., & Salisu, J. B. (2018). The impacts of monetary rewards on public sector employees in construction: A case of Jigawa state in Nigeria. Journal of Engineering, Design and Technology, 16(1), 125–142. https://doi.org/10.1108/JEDT-12-2016-0098
Dhanpat, N., Manakana, T., Mbacaza, J., Mokone, D., & Mtongana, B. (2019). Exploring retention factors and job security of nurses in Gauteng public hospitals in South Africa. African Journal of Economic and Management Studies, 10(1), 57–71. https://doi.org/10.1108/AJEMS-10-2018-0311
DiPietro, R., Martin, D., & Pratt, T. (2019). Understanding employee longevity in independent fine dining restaurants: A grounded theory approach. International Journal of Contemporary Hospitality Management, 31(10), 4062–4085. https://doi.org/10.1108/IJCHM-10-2018-0869
Ewerlin, D., & Süß, S. (2016). Dissemination of talent management in Germany: myth, facade or economic necessity? Personnel Review, 45(1), 142–160. https://doi.org/10.1108/PR-08-2014-0174
Gandy, R., Harrison, P., & Gold, J. (2018). Talent management in higher education: is turnover relevant? European Journal of Training and Development, 42(9), 597–610. https://doi.org/10.1108/EJTD-11-2017-0099
Gupta, V. (2019). Talent management dimensions and its relationship with Generation Y employee’s intention to quit: an Indian hotel perspective. International Journal of Tourism Cities, 6(3), 583–600. https://doi.org/10.1108/IJTC-02-2019-0018
Jha, S. (2019). Determinants of employee retention: a moderated mediation model of abusive leadership and psychological empowerment. Industrial and Commercial Training, 51(7–8), 373–386. https://doi.org/10.1108/ICT-05-2019-0047
Marinakou, E., & Giousmpasoglou, C. (2019). Talent management and retention strategies in luxury hotels: evidence from four countries. International Journal of Contemporary Hospitality Management, 31(10), 3855–3878. https://doi.org/10.1108/IJCHM-10-2018-0862
Matongolo, A., Kasekende, F., & Mafabi, S. (2018). Employer branding and talent retention: perceptions of employees in higher education institutions in Uganda. Industrial and Commercial Training, 50(5), 217–233. https://doi.org/10.1108/ICT-03-2018-0031
Maurya, K. K., & Agarwal, M. (2018). Organisational talent management and perceived employer branding. International Journal of Organizational Analysis, 26(2), 312–330. https://doi.org/10.1108/IJOA-04-2017-1147
Meyer, J. P., & Smith, C. A. (2000). HRM Practices and Organizational Commitment: Canadian Journal of Administrative Sciences, 17(4), 319–331. https://doi.org/10.1108/IJOA-02-2020-2038
Mukherjee, B., Chandra, B., & Singh, S. (2019). Talent retention in Indian public sector units (PSUs): an empirical investigation. Kybernetes, 49(6), 1783–1810. https://doi.org/10.1108/K-03-2019-0165
Nuhu, N. A., Baird, K., & Appuhami, R. (2016). The association between the use of management accounting practices with organizational change and organizational performance. Advances in Management Accounting, 26, 67–98. https://doi.org/10.1108/S1474-787120150000026003
Rombaut, E., & Guerry, M. A. (2020). The effectiveness of employee retention through an uplift modeling approach. International Journal of Manpower, 41(8), 1199–1220. https://doi.org/10.1108/IJM-04-2019-0184
Sablok, G., Stanton, P., Bartram, T., Burgess, J., & Boyle, B. (2017). Human resource development practices, managers and multinational enterprises in Australia: Thinking globally, acting locally. Education and Training, 59(5), 483–501. https://doi.org/10.1108/ET-02-2016-0023
Sinclair-Maragh, G., Jacobs-Gray, N., & Brown-Roomes, N. (2017). A case of talent management practices in motivating fast food service employees. Emerald Emerging Markets Case Studies, 7(3), 1–16. https://doi.org/10.1108/EEMCS-07-2016-0153
Steil, A. V., de Cuffa, D., Iwaya, G. H., & Pacheco, R. C. dos S. (2020). Perceived learning opportunities, behavioral intentions and employee retention in technology organizations. Journal of Workplace Learning, 32(2), 147–159. https://doi.org/10.1108/JWL-04-2019-0045
Ströbel, T., Maier, C., & Woratschek, H. (2018). How to reduce turnover intention in team sports? Effect of organizational support on turnover intention of professional team sports athletes. Sport, Business and Management: An International Journal, 8(2), 98–117. https://doi.org/10.1108/SBM-05-2017-0032
Su, T. S., Chen, C., Cui, X., Yang, C., & Ma, W. (2020). Consistency at different levels: A meta-analytic examination of organizational trust and performance. Nankai Business Review International, Grant 220413736. https://doi.org/10.1108/NBRI-01-2020-0005
Sumbal, M. S., Tsui, E., Durst, S., Shujahat, M., Irfan, I., & Ali, S. M. (2020). A framework to retain the knowledge of departing knowledge workers in the manufacturing industry. VINE Journal of Information and Knowledge Management Systems, 50(4), 631–651. https://doi.org/10.1108/VJIKMS-06-2019-0086
Sun, J., Lee, J. W., & Sohn, Y. W. (2019). Work context and turnover intention in social enterprises: the mediating role of meaning of work. Journal of Managerial Psychology, 34(1), 46–60. https://doi.org/10.1108/JMP-11-2017-0412
Tafti, M. M., Mahmoudsalehi, M., & Amiri, M. (2017). Critical success factors, challenges and obstacles in talent management. Industrial and Commercial Training, 49(1), 15–21. https://doi.org/10.1108/ICT-05-2016-0036
Tews, M. J., Hoefnagels, A., Jolly, P. M., & Stafford, K. (2020). Turnover among young adults in the hospitality industry: examining the impact of fun in the workplace and training climate. Employee Relations, 43(1), 245–261. https://doi.org/10.1108/ER-11-2019-0432
Tian, H., Dogbe, C. S. K., Pomegbe, W. W. K., Sarsah, S. A., & Otoo, C. O. A. (2020). Organizational learning ambidexterity and openness, as determinants of SMEs’ innovation performance. European Journal of Innovation Management. https://doi.org/10.1108/EJIM-05-2019-0140
Watson, A. W., Taheri, B., Glasgow, S., & O’Gorman, K. D. (2018). Branded restaurants employees’ personal motivation, flow and commitment: The role of age, gender and length of service. International Journal of Contemporary Hospitality Management, 30(3), 1845–1862. https://doi.org/10.1108/IJCHM-02-2017-0075
Wikström, E., Eriksson, E., Karamehmedovic, L., & Liff, R. (2018). Knowledge retention and age management – senior employees’ experiences in a Swedish multinational company. Journal of Knowledge Management, 22(7), 1510–1526. https://doi.org/10.1108/JKM-09-2017-0442
Yogalakshmi, J. A., & Supriya, M. V. (2020). Talent quotient: development and validation of a measurement scale. Journal of Management Development, 39(3), 306–323. https://doi.org/10.1108/JMD-03-2019-0075
Al-Weshah, G. A. (2019). Towards internal marketing practices in enhancing job engagement: Practical evidence from Jordanian hospitals. International Journal of Pharmaceutical and Healthcare Marketing, 13(1), 40–56. https://doi.org/10.1108/IJPHM-11-2017-0063
Alferaih, A., Sarwar, S., & Eid, A. (2018). Talent turnover and retention research: The case of tourism sector organisations in Saudi Arabia. Evidence-Based HRM, 6(2), 166–186. https://doi.org/10.1108/EBHRM-06-2017-0035
Arasanmi, C. N., & Krishna, A. (2019). Employer branding: perceived organisational support and employee retention – the mediating role of organisational commitment. Industrial and Commercial Training, 51(3), 174–183. https://doi.org/10.1108/ICT-10-2018-0086
Ashraf, M. A. (2019). Influences of working condition and faculty retention on quality education in private universities in Bangladesh: An analysis using SEM. International Journal of Educational Management, 33(1), 149–165. https://doi.org/10.1108/IJEM-03-2018-0121
Ashraf, M. A. (2020). Demographic factors, compensation, job satisfaction and organizational commitment in private university: an analysis using SEM. Journal of Global Responsibility, 11(4), 407–436. https://doi.org/10.1108/jgr-01-2020-0010
Ayodele, T. O., Ekemode, B. G., Oladokun, S., & Kajimo-Shakantu, K. (2020). The nexus between demographic correlates, career and organizational commitment: the case of real estate employees in Nigeria. Journal of Facilities Management, 18(5), 521–545. https://doi.org/10.1108/JFM-07-2020-0047
Buers, C., Karpinska, K., & Schippers, J. (2018). Managers’ retention decisions regarding young intermediate-level educated employees. International Journal of Manpower, 39(2), 254–268. https://doi.org/10.1108/IJM-05-2016-0114
Chang, W., & Busser, J. A. (2020). Hospitality career retention: the role of contextual factors and thriving at work. International Journal of Contemporary Hospitality Management, 32(1), 193–211. https://doi.org/10.1108/IJCHM-10-2018-0831
Chaudhuri, S., Arora, R., & Roy, P. (2020). Work–Life balance policies and organisational outcomes – a review of literature from the Indian context. Industrial and Commercial Training, 52(3), 155–170. https://doi.org/10.1108/ICT-01-2019-0003
Chinyio, E., Suresh, S., & Salisu, J. B. (2018). The impacts of monetary rewards on public sector employees in construction: A case of Jigawa state in Nigeria. Journal of Engineering, Design and Technology, 16(1), 125–142. https://doi.org/10.1108/JEDT-12-2016-0098
Dhanpat, N., Manakana, T., Mbacaza, J., Mokone, D., & Mtongana, B. (2019). Exploring retention factors and job security of nurses in Gauteng public hospitals in South Africa. African Journal of Economic and Management Studies, 10(1), 57–71. https://doi.org/10.1108/AJEMS-10-2018-0311
DiPietro, R., Martin, D., & Pratt, T. (2019). Understanding employee longevity in independent fine dining restaurants: A grounded theory approach. International Journal of Contemporary Hospitality Management, 31(10), 4062–4085. https://doi.org/10.1108/IJCHM-10-2018-0869
Ewerlin, D., & Süß, S. (2016). Dissemination of talent management in Germany: myth, facade or economic necessity? Personnel Review, 45(1), 142–160. https://doi.org/10.1108/PR-08-2014-0174
Gandy, R., Harrison, P., & Gold, J. (2018). Talent management in higher education: is turnover relevant? European Journal of Training and Development, 42(9), 597–610. https://doi.org/10.1108/EJTD-11-2017-0099
Gupta, V. (2019). Talent management dimensions and its relationship with Generation Y employee’s intention to quit: an Indian hotel perspective. International Journal of Tourism Cities, 6(3), 583–600. https://doi.org/10.1108/IJTC-02-2019-0018
Jha, S. (2019). Determinants of employee retention: a moderated mediation model of abusive leadership and psychological empowerment. Industrial and Commercial Training, 51(7–8), 373–386. https://doi.org/10.1108/ICT-05-2019-0047
Marinakou, E., & Giousmpasoglou, C. (2019). Talent management and retention strategies in luxury hotels: evidence from four countries. International Journal of Contemporary Hospitality Management, 31(10), 3855–3878. https://doi.org/10.1108/IJCHM-10-2018-0862
Matongolo, A., Kasekende, F., & Mafabi, S. (2018). Employer branding and talent retention: perceptions of employees in higher education institutions in Uganda. Industrial and Commercial Training, 50(5), 217–233. https://doi.org/10.1108/ICT-03-2018-0031
Maurya, K. K., & Agarwal, M. (2018). Organisational talent management and perceived employer branding. International Journal of Organizational Analysis, 26(2), 312–330. https://doi.org/10.1108/IJOA-04-2017-1147
Meyer, J. P., & Smith, C. A. (2000). HRM Practices and Organizational Commitment: Canadian Journal of Administrative Sciences, 17(4), 319–331. https://doi.org/10.1108/IJOA-02-2020-2038
Mukherjee, B., Chandra, B., & Singh, S. (2019). Talent retention in Indian public sector units (PSUs): an empirical investigation. Kybernetes, 49(6), 1783–1810. https://doi.org/10.1108/K-03-2019-0165
Nuhu, N. A., Baird, K., & Appuhami, R. (2016). The association between the use of management accounting practices with organizational change and organizational performance. Advances in Management Accounting, 26, 67–98. https://doi.org/10.1108/S1474-787120150000026003
Rombaut, E., & Guerry, M. A. (2020). The effectiveness of employee retention through an uplift modeling approach. International Journal of Manpower, 41(8), 1199–1220. https://doi.org/10.1108/IJM-04-2019-0184
Sablok, G., Stanton, P., Bartram, T., Burgess, J., & Boyle, B. (2017). Human resource development practices, managers and multinational enterprises in Australia: Thinking globally, acting locally. Education and Training, 59(5), 483–501. https://doi.org/10.1108/ET-02-2016-0023
Sinclair-Maragh, G., Jacobs-Gray, N., & Brown-Roomes, N. (2017). A case of talent management practices in motivating fast food service employees. Emerald Emerging Markets Case Studies, 7(3), 1–16. https://doi.org/10.1108/EEMCS-07-2016-0153
Steil, A. V., de Cuffa, D., Iwaya, G. H., & Pacheco, R. C. dos S. (2020). Perceived learning opportunities, behavioral intentions and employee retention in technology organizations. Journal of Workplace Learning, 32(2), 147–159. https://doi.org/10.1108/JWL-04-2019-0045
Ströbel, T., Maier, C., & Woratschek, H. (2018). How to reduce turnover intention in team sports? Effect of organizational support on turnover intention of professional team sports athletes. Sport, Business and Management: An International Journal, 8(2), 98–117. https://doi.org/10.1108/SBM-05-2017-0032
Su, T. S., Chen, C., Cui, X., Yang, C., & Ma, W. (2020). Consistency at different levels: A meta-analytic examination of organizational trust and performance. Nankai Business Review International, Grant 220413736. https://doi.org/10.1108/NBRI-01-2020-0005
Sumbal, M. S., Tsui, E., Durst, S., Shujahat, M., Irfan, I., & Ali, S. M. (2020). A framework to retain the knowledge of departing knowledge workers in the manufacturing industry. VINE Journal of Information and Knowledge Management Systems, 50(4), 631–651. https://doi.org/10.1108/VJIKMS-06-2019-0086
Sun, J., Lee, J. W., & Sohn, Y. W. (2019). Work context and turnover intention in social enterprises: the mediating role of meaning of work. Journal of Managerial Psychology, 34(1), 46–60. https://doi.org/10.1108/JMP-11-2017-0412
Tafti, M. M., Mahmoudsalehi, M., & Amiri, M. (2017). Critical success factors, challenges and obstacles in talent management. Industrial and Commercial Training, 49(1), 15–21. https://doi.org/10.1108/ICT-05-2016-0036
Tews, M. J., Hoefnagels, A., Jolly, P. M., & Stafford, K. (2020). Turnover among young adults in the hospitality industry: examining the impact of fun in the workplace and training climate. Employee Relations, 43(1), 245–261. https://doi.org/10.1108/ER-11-2019-0432
Tian, H., Dogbe, C. S. K., Pomegbe, W. W. K., Sarsah, S. A., & Otoo, C. O. A. (2020). Organizational learning ambidexterity and openness, as determinants of SMEs’ innovation performance. European Journal of Innovation Management. https://doi.org/10.1108/EJIM-05-2019-0140
Watson, A. W., Taheri, B., Glasgow, S., & O’Gorman, K. D. (2018). Branded restaurants employees’ personal motivation, flow and commitment: The role of age, gender and length of service. International Journal of Contemporary Hospitality Management, 30(3), 1845–1862. https://doi.org/10.1108/IJCHM-02-2017-0075
Wikström, E., Eriksson, E., Karamehmedovic, L., & Liff, R. (2018). Knowledge retention and age management – senior employees’ experiences in a Swedish multinational company. Journal of Knowledge Management, 22(7), 1510–1526. https://doi.org/10.1108/JKM-09-2017-0442
Yogalakshmi, J. A., & Supriya, M. V. (2020). Talent quotient: development and validation of a measurement scale. Journal of Management Development, 39(3), 306–323. https://doi.org/10.1108/JMD-03-2019-0075
Published
2021-11-29
How to Cite
Akanda, M. H. U., Bhuiyan, A. B., Kumarasamy, M. M., & Karuppannan, G. (2021). A CONCEPTUAL REVIEW OF THE TALENT MANAGEMENT AND EMPLOYEE RETENTION IN BANKING INDUSTRY. International Journal of Business and Management Future, 6(1), 42-68. https://doi.org/10.46281/ijbmf.v6i1.1467
Section
Research Paper/Theoretical Paper/Review Paper/Short Communication Paper
Copyright (c) 2021 Mohammad Helal Uddin Akanda, Abul Bashar Bhuiyan, Mokana Muthu Kumarasamy, Gunasegaran Karuppannan
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