Innovative human resource management practices for the talent management implementation

Abstract

The central topic of the paper is talent management. It is a highly topical subject matter in science and theory of business management, particularly human resource management. Attracting and retaining talented employees has become one of the key roles of modern human resource management. The paper aims to provide an analytical view of the use of selected innovative human resource management (HRM) practices through a comparison of companies that implemented talent management practices and companies that did not implement talent management practices. In addition to processing the theoretical basis of talent management, the paper presents the research results carried out on a sample of 187 Slovak companies. Primary data were collected in person and through a questionnaire from January to June 2021. The research aimed to determine the current state of implementation of talent management practices in the Slovak Republic and verify the existence of statistically significant differences in the rate of use of selected innovative HRM practices methods between companies that implemented talent management practices and companies that did not implement talent management practices. For the research purposes, HRM practices directly related to the acquisition, development, and retention of talented employees were selected, particularly training and development, evaluation of individual performance, and remuneration. In the case of HRM practices, the research focused on methods used in the implementation of individual practices. In contrast, the rate of use of each method was determined on a Likert scale 1-5, with a value of 1. It expresses a low rate of use of the method and a value of 5 a high rate of use. To meet the aim of the research, research hypotheses for individual HRM practices were tested, in particular the H1 (training and development), H2 (performance evaluation), H3 (remuneration). For each HRM practice, three partial hypotheses were tested. The Mann-Whitney U test at a significance level of 5% was used to test the hypotheses, i.e., to determine statistically significant differences between the companies that implemented talent management practices and companies that did not implement talent management practices. The research results confirmed statistically significant differences in the use of selected HRM practices between companies that implemented talent management practices and companies that did not implement talent management practices in the case of 8 variables. In the case of 1 variable, the hypothesis was not confirmed.