Assessing talent management as a tool for employee retention- A case study of Procredit Savings and Loans Limited Kumasi
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Date
2014-07-25
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Abstract
The goal of every business is to achieve its stated goals and objectives with a limited resource base with the human resource as a key factor. The human resource if not rightly discovered, retained and developed to cope with changes in the business environment is likely to fail in its operations. Chiefly among the human resource practices of developing employees is talent management. When employees' talents are identified and enhanced it does not only increase their productivity but brings about higher satisfaction on their jobs, increased motivation, and high staff retention rate. This study therefore sought to assess talent management as a tool for employee retention in the Non-Bank Financial Institutions in Ghana (ProCredit Savings and Loans Limited). Staff and Management of ProCredit Savings and Loans Limited, Kumasi served as the main population for this research. The study relied on both primary and secondary sources of data. The study revealed that the main talent management practices were mainly motivation and regular training and development of employees among others. A regression analysis on the key variables of the study showed that as employees were motivated, trained and developed, the more likely they were to leave the organisation for other relatively higher offers from competitive companies. Succession planning and career guidance and recruitment and selection as talent management practices however had a direct relationship with employee retention. Based on the findings of the study, it was recommended that the organisation should develop effective talent management practices which would seek to increase employee retention.
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A thesis submitted to the Department of Managerial Science, Kwame Nkrumah University of Science and Technology in partial fulfilment of the requirements for the degree of
MASTER OF BUSINESS ADMINISTRATION (HRM OPTION)