Talent Management and Employee Productivity in Selected Banks in Anambra State

This work examined the effect of talent management on employee productivity in selected banks in Anambra State. The study reviewed relevant conceptual, theoretical and empirical literatures. It was anchored on management process approach and human capital theory. Talent Retention, performance management systems, training and development and talent attraction were employed as the explanatory variables while employee productivity was the dependent variable. The study adopted survey research design. The population of the study comprised 353 staff of the selected banks in Anambra State. The sample size was 353(using the entire population). Questionnaire was employed as the main instrument of data collection. The data generated were analyzed using frequency, percentage analysis, descriptive statistics, correlation analysis and multiple regression analysis. The study found that talent retention had a significant influence on employee productivity. Performance management systems had a significant effect on employee productivity. Training and development had a significant influence on employee productivity and talent attraction had a significant effect on employee productivity. The study concluded that talent management had a significant effect on employee productivity. The study therefore recommended that management should establish talent retention strategies and make them known to all employees. Management and employees should be involved in the entire process of performance appraisal. To enhance employee productivity, it is imperative that the organization focuses on training and development programs that are not only essential but enhance employees‟ competitiveness. Programs should be designed by both managers and employees. Talent attraction such as competitive salary packages and rewards should be established as a policy in every organization. © 2018 Elixir All rights reserved. Elixir Org. Behaviour 122 (2018) 51804-51813 Organizational Behaviour Available online at www.elixirpublishers. com (Elixir International Journal) Okeke.M. N et al./ Elixir Org. Behaviour 122 (2018) 51804-51813 51805 countries such as the UK, USA, France, China, and Australia (Coulson-Thomas, 2012, Chugh & Bhatnagar, 2011, Egerová, 2013, Lewis & Heckman, 2011). These studies show that the concern and search for talent is universal Talent management focuses on how people come into the organization and grow (Sayyasi, 2011). Today, organizations have realized that in order to be successful in complicated world economic system and durable in the business environment, they require the best talents. At the same time to the need to recruit, develop and retain talents, organizations have found that their talents are critical resources that for achieving the best results require management (Maali and Tajaddin, (2008). The basic notion around the scramble for talent is employee performance. As such, every sector has also discovered that attracting and retaining talented employees does not only enhance employee productivity itself, but organization performance as a whole. (Smith, 2007). It is therefore a deliberate approach undertaken to attract, develop and retain people with the aptitude and abilities to meet current and future organizational needs. Statement of the Problem Managing talent is a challenge to all organizations in the context of globalization, irrespective of the country. Moreover, the concern about scarcity of talent is almost universal, (Gardner, 2002). Organizations around the world are competing for the same pool of talents and this is seen as a global labour market for talents. Trend of global integration shows organizations‟ standardizations in talent recruitment, development and management, to ensure their competitive position and consistency. Despite knowledge of talent management strategies, many organizations are failing to put in place the kind of human capital development and retention strategies that will bear appropriate outcomes (Cappelli, 2009). The determinants of talent management include talent attraction; performance management systems; talent retention; employee training and career management. The problem of this study focused on the effects of talent attraction, talent retention, employee training and career management as independent variables and employee productivity as dependent variables with special reference to employee productivity. Gibbons (2006) states that talent management is a system that addresses competency gaps by implementing and maintaining programs to attract, acquire, develop, promote, and retain quality talent that must be adopted by all future oriented organizations to gain competitive advantage. Several scholars have conducted studies on talent management, including Koranteng (2014) study on talent management as a tool for employee retention, using a case study of Procredit Savings and Loans Limited Kumasi. The study revealed the adoption of major talent management practices including motivation, regular training and development of employees. Koketso and Rust (2012) conducted an exploratory study on the perceived challenges to talent management in the South African Public Service, using the case of Cape Town Municipality. Kambabazi (2012) examined talent management, organization culture and employee engagement using the case of National Water and Sewerage Corporation in Uganda. The findings indicate that both talent management and organization culture predict employee engagement and therefore performance. Wambui (2012) studied talent management practices in commercial state corporations while Lyria (2013) examined the role of talent management on organization performance in companies listed in Nairobi Security Exchange. These studies revealed the existence of a strong positive correlation between talent management and employee performance. However, these studies did not examine whether this correlation still holds true for companies and in particular, in the Nigeria context. Therefore, this study seeks to fill the existing gap in literature by providing empirical data on effects of talent management on employee productivity in the financial sector. Objectives of the Study The broad objective of the study is to examine the effect of talent management on employee productivity. The specific objectives are to: 1. Determine the influence of employee retention on employee productivity in selected banks in Anambra State 2. Examine the effect of performance management on employee productivity in selected banks in Anambra State 3. Assess the influence of training and development on employee productivity in selected banks in Anambra State 4. Investigate the effect of talent attraction, on employee productivity in selected banks in Anambra State Research Questions 1. To what extent does talent retention influence employee productivity in manufacturing firms in the South-East? 2. To what extent do performance management systems affect employee productivity in manufacturing firms in the SouthEast? 3. To what extent does training/development influence employee productivity in manufacturing firms in the SouthEast? 4. To what extent does talent attraction affect employee productivity in manufacturing firms in the South-East? Hypotheses Ho1: Talent retention has no significant influence on employee productivity Ho2: Performance management systems have no significant effect on employee productivity Ho3: Training /development has no significant influence on employee productivity Ho4: Talent attraction has no significant effect on employee productivity Significance of the Study The study could be valuable to a number of stakeholders including management, policy makers, government, researchers and academics. Review of Related Literature Conceptual Framework Talent Management Aston and Morton (2005) note that there is not a single consistent or concise definition of talent management. Tansley (2011) defines talent as “an essential giftedness, which is regarded as a gift”. It is also a natural ability and aptitudes. Wikstrom,Oberwittler, Treiber and Hardie (2012) note that talent represents greater mastery of developed abilities and knowledge systematically in the field of human endeavour. Stockley (2007) asserts that talent management is defined as the conscious, deliberate approach undertaken to attract, develop and retain people with the aptitude and abilities to meet current and future organizational needs. According to Stockley (2007)‟ perspective, talent management deals with the recruitment, selection, identification, retention, management, and development of personnel considered having the potential for high performance. Talent management simply refers to an organized process of attracting, selecting, hiring, engaging, training and developing, retaining and utilizing top talents to Okeke.M. N et al./ Elixir Org. Behaviour 122 (2018) 51804-51813 51806 an organization‟s best advantage (Lockwood, 2006). It aims at ensuring the right job placements at the right time, in the right positions for the right candidates to deliver their best and remain committed to the organization. Although talent management is organization-specific, the focus is on developing and optimizing high potentials or talents of individuals within the organization more quickly than ever to enhance competitiveness (Zhang, et al, 2012). Talent is one of the critical resources for organizations to attain competitive advantage. Talent management will fail without top management commitment to retaining its workforce (Izwar & Aerni, 2014). Effective talent management endears talented employees to an organization as employees begin to see themselves as part of the organization, add value to the organization and remain glued to it. It ensures that employees remain professional at all times in their business practices, serve meritoriously, have the right people made up of seasoned professionals who have excelled in their various professions, posses