Talent Management and Employee Retention

Talent Management and Employee Retention

Tan Hui Qi, Irmawati Norazman, Rabeatul Husna Abdull Rahman, Shah Rollah Abdul Wahab

Department of Human Resource Development, School of Human Resource Development & Psychology, Faculty of Social Sciences & Humanities,

Universiti Teknologi Malaysia

DOI: https://dx.doi.org/10.47772/IJRISS.2024.8120102

Received: 27 November 2024; Accepted: 02 December 2024; Published: 04 January 2025

ABSTRACT

The research aims to examine the relationship between talent management and employee retention among employees in an information technology organization at Malaysia. The concern about dimensions such as employee recruitment and selection, training and development, performance management, and career management of talent management are determined by whether they will have a connection with employee retention variable. The cross-sectional study was conducted by using quantitative analysis and a total of 108 samples out of 150 populations were identified. The study used non-probability sampling which is convenience sampling to collect the data from the respondents with respond rates was 72%. Statistical Package for the Social Science (SPSS) version 29 was utilized to analyze by using the descriptive and inferential analysis. The results showed the level of talent management and employee retention of the respondents were at a high and moderate level respectively. Meanwhile talent management was moderately and positively significant towards employee retention despite the training and development dimension illustrated as non-significant. Therefore, the analysis of the key findings, discussion, limitations and suggestions for the organization and future research were delivered such as the HR strategies, providing rewards, career management planning, enlarging sample size across multiple organizations, supplement qualitative data as triangulation research, conduct longitudinal research to track the changes in employee retention and discovering moderator or mediator variables.

Keywords: Talent Management, Employee Recruitment and Selection, Training and Development, Performance Management, Career Management, Employee Retention

INTRODUCTION

In the new global economy, employee turnover, job hopping, and layoffs have become central issues for every firm or organization. According to the summary of the U.S. Bureau of Labour Statistics (BLS) that was reported by Farrugia (2022) mentioned that the typical turnover rate was still very high compared to pre-pandemic levels which was 20% greater during post-pandemic. This scenario was strengthened by McKinsey (2022) said that about half (48%) of people are switching to a completely different industry from their current job; 35% of people who left their jobs in the past two years did so in the same industry globally and 72% of employees moved to different industries. The highest turnover rate fell under the IT sector at 18.30% (Yara, 2022).

Due to the high demand and limited supply of skilled IT workers, businesses went above and beyond to keep hold of their most important personnel (Kumar, 2022). Companies required human capital to work for them, improved their operations as well as attain their goals by keeping high-performing employees for as long as possible to save the costs and hassle of hiring new workers (Golicha et al., 2022). Hence, talent management is the primary concern of firms internationally as it significantly influences the success of companies wherein talented workforces could enhance efficiency through their contributions to the businesses’ performance and productivity (Kumar, 2022). In the era of business competitive advantages, this present research was assisted and advocated organizations to increase employee retention through talent management practices namely employee recruitment and selection, training and development, performance management, and career management. The research also facilitated employers to clarify how well the implementation of talent management can improve the intention of employees to stay within the organizations. This is because most of the firms have encountered talent shortages frequently which includes a dearth of qualified managers, professionals, technical support staff, and other skill-related positions (Isa et al., 2018). James et al. (2012) and Tiwari & Shrivastava (2013) mentioned that the information technology (IT)-retention issue might be made worse by the supply-demand imbalance in the IT labour market, bringing this topic to focus on this research.

Ismail et al. (2021) defined talent management as a complex activity that refers to a technique for determining and honing potential talent, including hiring and staffing, training and development, incentives and recognition, and retention. This is because employee career progression initiatives open prospects for promotion within a company and give workers a chance to improve their employability on the job market by exploring new skills no matter individually or in a team (Ayodo, 2022). Employee recruitment and selection refers to a collection of procedures for identifying and selecting qualified applicants for vacancies which were either internal or external (Kumar & Gupta, 2014). To continue advancing workers, training and development are required because it can be characterized as an effort to close any knowledge and skill gaps that an individual may have to execute their current work and prepare for the future (Othman, 2020).

Mbugua et al. (2015) described “performance management” as a type of human resource approach that can successfully aid a company in achieving both its retention goals and other crucial business objectives. Career management is the use of the organization’s career development resources to support a person’s career plan (Zhao et al., 2022). The author also stated that organizational and individual career management are two subcategories of career management. Meanwhile, employee retention is defined as the strategies and tactics used by businesses to keep hold of their most valuable workers, which entails taking steps to motivate employees to stay with the company for the longest possible term (Baharin et al., 2018). If high rates of employee turnover happen, a client might deal with different employees within a short period, meaning this would cause a bad reputation for the firm to the customer and give a negative sign of the company’s operation.

PURPOSE OF STUDY

The research was conducted to examine the relationship between talent management (employee recruitment and selection, training and development, performance management, and career management) and employee retention in an information technology organization at Malaysia. The independent variable for this research is talent management, and the dependent variable is employee retention. The encouragement to scope this study was to determine how correlated the practices of talent management of a company are to employee retention in the IT industry in Malaysia.

LITERATURE REVIEW

A. Talent Management

Farndale et al. (2010); Mellahi & Collings (2010); Kim & Scullion (2011) reported that talent management is the linking of personnel management to corporate culture and commercial strategy. Siew et al (2017) agreed that talent management refers to the application of techniques to boost employee productivity by the creation of procedures to draw in, train, retain, and make use of personnel with the knowledge and abilities needed to meet organizational goals and objectives. Furthermore, employees with the proper talents in the right positions would stay longer because of talent management, which began with the identification, recruitment, and selection of the best applicants for the key positions (Kumar, 2022). This was believed by Ekwoaba et al (2015) that getting the quantity and calibre of workers needed to fulfil the organization’s strategic objectives while spending as little money as possible is the overarching goal of recruitment and selection inside the company.

Training and development were the fundamental instrument for human resources development (Ganesh et al., 2015). Mulang (2015) defined training as a brief educational process that makes use of a planned and organized technique to help non-managerial staff members acquire technical know-how and abilities for a specific goal. Development is meant as an ongoing learning that develops professionals and aids them in moving along their unique career path (John et al., 2022). Performance management is described as a consistent process for assessing and developing each person’s and team’s potential and connecting performance to the organization’s long-term goals (Siew et al., 2017). Based on Kumar (2022), employee productivity was increased due to the organization’s performance management standards, which also included fair evaluation and equal opportunity for growth.

Career management is effective in maintaining the potential human resources as it includes organizational support such as a welcoming and inclusive workplace that respects and honours individuals’ career objectives and personal initiatives in developing careers that involve individuals’ career goal settings and decision-making (De Vos et al., 2019; Joo et al., 2019).

B. Theory related to Talent Management

Herzberg’s Two-Factor Theory which was developed by Frederick Herzberg and named Herzberg’s Motivation-Hygiene Theory or Dual-Factor Theory Denis (2018) was Maslow’s Hierarchy of Needs expanded where it has been divided into motivators and hygiene factors. The motivators describe job satisfaction whereas hygiene factors explain the dissatisfaction with the job.

According to Thiriku & Were (2016), the motivation factors included responsibility, a sense of accomplishment, acknowledgment of accomplishment, prospects for promotion, and the nature of the work being done; while the hygiene factors are company policies, supervision, relationships, work conditions, remunerations, salaries and securities. In other words, motivation factors and hygiene factors are linked so employers ought to provide as much as motivators and be less likely to demotivate employees. For example, the prerequisite of having a talented employee in the workplace, an organization should implement an effective recruitment and selection system such as initiatives to attract, screen, and systematic selection methods with the help of job analysis. In turn, the transparent system and understanding of the employee about his or her job would like to perform more. On the contrary, without organizational support, employees are going to be unmotivated and dissatisfied with their jobs as well as the company. If the selected employees are not fit for a job position, organizational culture or conflicts happen between subordinates and supervisors, then this indirectly would cause a bad working environment. Therefore, in order to increase the retention of manpower or minimize employee turnover intention, employers should eliminate the hygiene factors and keep improving the motivators.

C. Employee Retention

According to Singh (2019), employee retention generally refers to the various steps taken by organizations to motivate their staff members to stay with the company for a longer period. So, a retention plan that accessed employees’ issues or their performance discrepancies could identify the factors that caused them less likely to commit to organizations such as salary, training, professional growth, dedication, disagreement with supervisors, a lack of cohesiveness within the group, recruiting, selection, and promotion (Kataike, 2013; Waithiegeni Kibui, 2015 and Ismail et al., 2021). Ertürk & Vurgun (2015); Covella et al (2017); Deemah Alzaid & Suad Dukhaykh (2023) claimed that the social exchanges between employers and workers would intend to decrease the number of employee turnover rates. Chen et al (2019) stated that increased job satisfaction considerably lowered the likelihood of employee turnover. Nonetheless, by establishing the organization as a desirable place to work, a strong employer brand enables companies to keep their bright people (Deemah Alzaid & Suad Dukhaykh, 2023). The study also showed that there was a positive relationship between the Social Exchanges Theory, employer branding, and psychological contract wherein the relations of employment are harmonious as there is always a mutual agreement between them. This can be said that the employment-retention strategy is successful when labors have a sense of belonging and feel secure.

D. Theory related to Employee Retention

A theory that related to employee retention can be a framework of Motivation Theory that was proposed by John Stacey Adams which is closely related to the question of staff either staying within or leaving a company (Raju, 2021). This is because Adams’ Equity Theory explains employees’ perceptions of fairness towards the outputs they gain from organizations (Waithiegeni Kibui, 2015).

Waithiegeni Kibui (2015) declared that employees who perceived justice more positively were more driven to work hard and showed greater levels of commitment, which raised the likelihood that they would continue to work for the firm. Rajiah & Bhargava (2021) mentioned that input could be everything that a person offers to the workplace that is valuable, including dedication to one’s work, loyalty, time, commitment, and personal sacrifice; the advantage that a person receives from their employment is known as output and includes, among other things, their pay, benefits, job security, reputation, career development, fulfilment, and recognition. For example, the lunch break for each employee is the same and no one is special to have extra time to rest including the upper management. In contrast, if someone finds that he or she is underpayment compared to colleagues who are in the same position level, the labour might dissatisfy and perceive to behave negatively such as being late to work or absent without notice. This could be said that labours would compare among themselves their efforts and outcomes. As a result, fair treatment given by a company is what an employee aims for in which when he or she has been equally recognized, then the employee would likely to remain in the company for a few years.

E. Relationship between Talent Management and Employee Retention

There are numerous studies both domestically and internationally that can support and has shown a positive correlation between the independent and dependent variables. Also, Kamel (2019), Aina & Atan (2020), and Singh (2021) stated that talent management is associated favourably with increased selection, training and development, performance management, organizational performance, employee engagement, retention, and value creation. Based on the findings of the study, Yong (2017) indicated that the performance management dimension was positively correlated to employees’ job retention. Besides, the research findings of Ebrahim et al (2020) revealed that training and development had positive and moderately significant relationships with employee retention whereas recruitment and performance management were the highest correlated and significant relations to employee retention. Chitsaz-Isfahani et al. (2014) resulted that talent management such as succession planning, training, coaching, mentoring, and career management were all positively significant in encouraging workers to stay in the organization as well as the high correlated relationship between talent management and organizational trust. In addition, AlBattrikhi (2016), Baba (2018), Yadav (2020), Gohar (2021), Golicha et al (2022) mentioned that talent management and employee retention were positively related to each other and was highly significant. Whilst Al Hammadi & Noor (2020) examined that each level of talent management namely competency mapping, employee engagement, performance management, and career development were correlated to employee retention and strengthened by the mediating variable which was leadership that increased the employees’ intention to remain in the organizations. Therefore, the hypothesis of the research refer to the relationship between talent management and employee retention positively.

METHODOLOGY

This research used quantitative research with cross-sectional design to examine the relationship between independent variables (talent management) and dependent variables (employee retention). This study applied descriptive analysis and inferential statistics to characterize demographics and measure the levels of independent variables (employee recruitment and selection, training and development, performance management, and career management), and dependent variables (employee retention) as well as the Pearson correlation to examine the relationship of both variables respectively. A sample size of 108 targeted respondents from a population of 150 labors in an information technology organization in Petaling Jaya, Malaysia is selected according to Krejcie & Morgan’s (1970) table. Moreover, non-probability sampling, which is convenience sampling is employed in this research to access and collect the data from respondents. The researcher adopted the model of questionnaires developed by Erdoğan (2019) and Kyndt et al (2009) for independent and dependent variables accordingly. The questionnaire is divided into three sections. Section A is for respondents’ demographic information, Section B is for talent management, and Section C is for employee retention. Section A has 5 items, including age, gender, race, highest academic qualification, and working experience. Section B contains 24 items in total whereby 6 items on employee recruitment and selection, 7 items on training and development, performance management (4 items), and career management (7 items) whereas Section C has 11 items.

According to Nawi et al. (2020), a Cronbach’s Alpha of 0.70 and above is considered good, 0.80 and above is better, and 0.90 and above is considered best. The value of Cronbach’s Alpha for 24 items of talent management (independent variable) is 0.925. On the other hand, the overall Cronbach’s Alpha value for employee retention (dependent variable) that has 11 items is 0.615. The overall values of Cronbach’s Alpha for independent and dependent variables are considered excellent and moderately reliable accordingly. The research used descriptive analysis, normality test and inferential analysis for this study by using Statistical Packages for Social Science (SPSS) version 29 software. Descriptive analysis was performed to provide an overview of the respondents’ demographics, the level of talent management, and the level of employee retention. The normality test was utilized to test whether a given dataset follows a normal distribution or not. Then, inferential analysis aimed to establish relationships among multiple variables and draw general conclusions. The data was found to be a normal distribution with skewness and kurtosis values within the range of -2 and +2. The level for both variables, talent management and employee retention were used descriptive analysis, meanwhile the Pearson correlation test was utilized to examine the relationship for both variables. The research objectives and analysis methods were shown in Table I.

Table I: Research objectives and Analysis Methods

RESEARCH FINDINGS

The current study implies that most of the respondents are between 31-40 years old which is equivalent to 44 of them (40.70%). Most of them are male which is 60 respondents (55.60%) and 50 of them are Chinese (46.30%). There are 68 respondents (63.00%) who hold a degree qualification and have had 7-9 working experiences, that is, 27 (25.00%) out of 108 respondents

A. Level of Talent Management

The first objective of this study is to identify the level of talent management among the respondents. A total of 24 items are evaluated using a 5-point Likert scale. All dimensions of talent management showed a high level of agreement on the items given with the range of mean between 3.77 and 3.87. The dimension of performance management indicated the high level among other dimensions (refer to Table II).

In overall, talent management achieves a high level with an average mean score of 3.83 and a standard deviation of 0.73 which is contributed by the four dimensions. The mean score and standard deviation of the four dimensions are in Table II. The data indicates that respondents are satisfied with the employee recruitment and selection, training and development, performance management, and career development provided by the company.

Table II. Descriptive Analysis of Talent Management Dimensions

B. Level of Employee Retention

The second objective of this research is to identify the level of employee retention among the respondents. A 5-point Likert scale is used to measure 11 items. The finding indicated that employee retention has a moderate level with a mean score of 3.38 and a standard deviation of 0.73. This demonstrates that the respondents prefer to have the intention to stay within the same organization.

C. Relationship between Talent Management and Employee Retention

Table III exhibits that the third objective of the research which represents the hypothesis has been accepted which the relationship between talent management and employee retention is significant and positively correlated. The p-value of the two variables is less than 0.01 and the Pearson correlation coefficient is 0.556, showing a moderate relationship between them. Thus, this can be said that the practices of talent management provided by the company can secure its employee retention.

Table III Result of Pearson Correlation Coefficient

** Correlation is significant at the 0.01 level

DISCUSSIONS, LIMITATION AND RECOMMENDATION

In the current research, talent management, namely employee recruitment and selection, training and development, performance management, and career management dimensions illustrated high levels overall. This was similar to the previous research findings of Golicha & Rintari (2022). Whereas the respondents have moderate levels of retention in the company. According to Weng et al (2023), work engagement, organizational support, and work-life balance were the factors related to employee retention. Furthermore, employees were involved in and informed about the organization’s mission, goals, and project status through effective communication systems, allowing trust-building among organizational members (Clark, 2013). With this, it cannot be denied that employees would more likely intend to commit to the company.

The same goes for leadership, supervision, coaching, and mentorships were the elements that were highly advocated since an employee decided to join a company and stay on board after being employed was influenced by their opinion of the person-organization fit (Thornburg, 2023). This was proved by Follmer et al (2018) whereby employees’ intentions to leave their jobs are influenced by their perception of being a misfit at work and organizational leaders could lower staff attrition by ensuring consistent integration at work.

However, Dean (2017) said the IT sector enabled vertical services employees showed the highest level of commitment to stay compared to other sectors such as banking and hospitality. Whilst Theron et al (2014) found that there were most workers who preferred to stay within the organization and only a minority of them intended to leave. Aman-Ullah et al (2021) noted that low retention was due to unstable employment, particularly in developing nations. Thus, today’s major corporations are struggling to compete in the global marketplaces while maintaining their skilled employees (El Dahshan et al., 2018).

A. Relationship between Talent Management and Employee Retention

Based on the analysis, there is a positive and moderately significant relationship between talent management and employee retention. As a result of this, the relationship findings between the two variables of the study can be supported by previous studies by Agarwal (2018) and Ebrahim et al. (2020). Gupta (2019) revealed that talent management practices had a moderate and negative significant effect on Generation Y workers’ intentions to resign. Nonetheless, Amushila & Bussin (2021) illustrated there was a positive significant relationship between a university’s talent management system and its middle-level workers. The author declared that recruitment and selection, training and development, career development, performance management, and job satisfaction were to keep talented employees on board for the long run, and management needed to pay close attention to them. If employees could also gain non-monetary benefits that are expected or wished to have, they could become more willing to maximize their overall performance, hence, maintaining the organization’s competitive advantages and remaining important talents. Thus, this research supported the idea that organizations’ effectiveness of talent management implementation would be able to reduce the drawbacks of cost and resource investments.

Besides, Ahsan (2018) and Erdoğan (2019) pointed out that effective recruiting and selection and employee retention were positively and significantly correlated which was aligned with this study. Organizations would be able to accomplish their business objectives if they could find the appropriate, skilled, and experienced personnel (Al Mamun & Hasan, 2017). Gilani & Jamshed (2016) proposed that although the company applied to outsource the hiring process, it met the organization’s workforce needs as the skilled workers provided outstanding, cutting-edge goods and services that enhanced the employer brand’s reputation. This can be said that companies would slow growth if they do not hire qualified workers.

Gilani & Jamshed (2016) proposed that although the company applied to outsource the hiring process, it met the organization’s workforce needs as the skilled workers provided outstanding, cuttingedge goods and services that enhanced the employer brand’s reputation. This could increase the rate of employee retention by giving prospective employees a pleasant impression of the host company’s brand. Furthermore, despite the training and development dimension indicating a non-significant relationship between talent management and employee retention, Jackson (2023) stated that staff turnover in a business was mostly caused by seasonality and the possibility of early employee departures which often failed to provide highly skilled and trained personnel notwithstanding there were a lot of career growth opportunities, therefore, companies needed to increase their budgets for training and development to involve all staff members in training initiatives and programs.

This was strengthened by Amushila & Bussin (2021) demonstrating that one of the main causes of employee turnover was a lack of opportunities for professional advancement, that was, prospects for professional progression inside the administration even though professional specifics about exit interviews were withheld. Regarding the ideal and positive correlation between performance management and employee retention, the earlier research of Imna & Hassan (2015), Waithiegeni Kibui (2015) and Alias et al (2022) found similar results. Siew et al (2017) agreed that employees might feel less committed to the company and take on less responsibility if they believed that their abilities were being overlooked. This could declare that employee engagement could be established and fostered via performance management, and this would lead to improved employee retention. Alias et al. (2016) and Jindal & Shaikhe (2021) found that career development planning, succession planning, and career counselling could enhance employees’ learning and growth meaning that the company was able to provide new career opportunities such as promotions and assessments, especially for career plateau and those potential employees who were going move to higher positions, in turn, this contributed to employee retention. This was agreed by Erdoğan (2019) that career management had a positive and significant relationship with employee retention which was consistent with the current study.

B. Limitations and Recommendations

According to the findings, the researcher discovered that employee recruitment and selection, performance management, and career management are the practices that help the organization retain employees. Therefore, the researcher has some suggestions for the organization to improve on it. Before hiring an employee, the organization ought to analyze the job analysis to ensure the forecast job description for each job position is aligned with the job inquiries from time to time, hence, the departments that are involved in new hiring should cooperate with the HR department to avoid labour demand and supply shortage. Forecasting in HR planning could assist the company in cost-wasting and increase organizational flexibility. The same goes for the Realistic Job Preview (RJP), in which both the job applicant and the enterprise should be honest in giving the resume, personal information, real job aspects, and information about the company itself to ensure the candidate is the right person for the job and organization.

Moreover, rewarding employees is another HR strategy that could boost their work motivation and productivity. Compensation and benefits packages are indeed for the organization to design for the job position and provide to the employees when they achieve their performance targets. The compensation and benefits packages such as salary increments, commissions, bonuses, flexible working hours, continuing education allowance, and paid leave. This could ensure strategic capabilities within organizational members and support the management and operation of the organization by allowing employees to set goals and create performance development plans to sustain their career and personal ambitions. Hence, they would not only perform well individually but also dedicate themselves to working in a team. There would be a healthier working environment and culture that would bring higher job satisfaction to the workers. The organization also could take the initiative to implement a career management plan that values its employees. Leveraging career management could be able to help workers further enhance their career paths bringing advantages to companies in minimizing the deployment through encouraging resource redistribution and restructuring, meeting one’s essential needs, and promoting professional development and progress. Programs such as mentoring, coaching, and one-on-one consultancy with the career practitioner could also help them improve their expertise and receive some career guidance. All these actions could place both the organization and employees at advantages whereby employees would become more self-aware and to learn continuously while the company would gain various benefits.

The research is subject to several constraints or limitations. Firstly, the study only can generalize in the research organization context due to the sampling method. Therefore, enlarging size sample across multiple organizations or industries was proposed to the future researchers to enhance generalizability and reduce bias. In addition, this could help the future researcher to gain different insights and acknowledgments that would help to get more accurate data and vary significantly. Secondly, the study only used quantitative data within the time frame, and future researchers are recommended to collect qualitative data too as triangulation research to gain more insightful reasons behind the observed relationships and discrepancies.

Thirdly, the study only used a cross-sectional approach instead of longitudinal research and cannot track any changes in employee behaviour patterns, specifically in employee retention. Hence, future researchers are suggested to conduct longitudinal research to explore the changes and understand the causality effect. Lastly, the study only examines the connection between two variables and the findings revealed that the training and development dimension is not significant for employee retention. So, rather it could be said that there might be other elements that can intervene or strengthen the association of these two variables. Perhaps, future researchers could try to add mediator or moderator variables such as leadership, rewards and compensations, employee engagement, and job satisfaction for deepen analysis and critical discussion.

CONCLUSION

In conclusion, the purpose of this research was to examine the relationship between talent management and employee retention in an information technology organization at Petaling Jaya, Malaysia. The result of the research revealed that talent management (employee recruitment and selection, training and development, performance management, and career management) had a moderate and significant relationship with employee retention. All stated objectives in this research had been answered through the findings meaning that the hypothesis that had been stated in the initial research had been accepted. For the first objective, the result showed that the level of talent management among employees was at a high level. Most of them could be said to be satisfied with applied talent management. Meanwhile, for the second objective, the outcome indicated that employees had achieved a moderate rate of employee retention. The research findings also showed there was a significant positive and moderate relationship between talent management and employee retention. This showed that the higher the effectiveness of talent management, the higher the employee retention among the workers. However, because the R-value was equal to 0.556, this proved that there might be other variables that would relate to talent management toward employee retention.

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