Academic journal article Global Business and Management Research: An International Journal

Employee Perceptions of Talent Management Effectiveness on Retention

Academic journal article Global Business and Management Research: An International Journal

Employee Perceptions of Talent Management Effectiveness on Retention

Article excerpt

Abstract

Purpose: The main purpose of this study is to understand how talent management processes contribute toward effective performance management, with regard to employee retention in Taiwanese companies. This research aims to study the value that employees place on their job design through training, performance assessment through feedback, accountability and responsibility through empowerment, equity of compensation by remuneration, and business coaching program utilization.

Design/methodology/approach: This theoretical paper, and the conceptual model proposed in this study will be based on employee experiences, and perceptions of talent management processes on their retention. The planned data regarding these factors will be collected quantitatively through questionnaires completed by employees in listed Taiwanese companies.

Findings: The proposed study will provide a review of the extant literature, as well as provide empirical evidence with regard to critical HR policies that have significant impact on the management of employee retention practices.

Originality/value: This study aims to provide companies with a guide in targeting the most important factors that impact on their employee retention, through an increased awareness and knowledge of how employees are motivated, and thus retained accordingly. Moreover, this case study will be the first of its kind conducted in Taiwan, as it includes core HR retention practices, as well as business coaching processes (which are relatively unutilized in broader Asian contexts). Furthermore, it is anticipated to cover a large sampling of the main industries listed broadly on the Taiwanese Stock Exchange, and offer HR policy implications.

Keywords: Human Resource Practices, Talent Management, Retention,

Introduction

The global crisis of 2008, and subsequent economic recessions, have resulted in a multitude of companies having to reduce their employee levels, by significant downscaling. Current challenges include immense organizational transformations, the rapid paced advancement of technology and unstable environments, which are further manifested by constant tumult in the economy.

Consequently, employee loyalty, efficiency and turnover concerns are extremely significant management challenges (Dhanraj and Parumasur, 2014). Additionally, this is impacted by employee commitment, organizational restructuring and competition for capable talent (King, 2015). Furthermore, the retention of Generation Y employees in vulnerable, uncertain, complex and ambiguous (VUCA) environments are immense challenges which organizations are also confronting (Aruna and Anitha, 2015).

Decreased organizational stability creates fragility, with an influence on relationships with customers; managers are pressurized, conflict is inexorable, and productivity is impacted. These challenges effect organizational competitiveness, creating difficultly for organizations to compete in the marketplace (Lado and Wilson, 1994; Wright, McMahan and McWilliams, 1994)

The most valuable, and volatile asset of organizations, is constant, efficient and loyal employees (Elliott, 2004). Employee durability enables organizations to have significant advantage, and power through expertise and experience. Employing, and retaining the most suitable and capable employees is critical, this is why employee recruitment processes are fundamental, with regard to cost saving mechanisms relative to employee retention. It is therefore imperative that employers are certain of candidate suitability for employment, the reasons that they are selected, and consequently how they are managed (Arnold, 2005).

Vast competition exists throughout industries and markets. It is thus important for organizations to strategically manage their employees' performance, due to the impact of sustainability. It is widely believed that highly talented employees are significant to organizational success. …

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