TALENT DEVELOPMENT PRACTICES ON EMPLOYEE’S RETENTION; AN EXPERIENCE OF COMMERCIAL BANKS IN TANZANIA

Abstract

This paper's primary purpose was to examine the effects of talent development practices on employee retention in commercial banks in Tanzania, using the case study of CRDB Bank PLC's headquarters. A human resources department with a population of 56 individuals was selected to represent the whole population of the CRDB Bank PLC Headquarters. All 56 respondents were selected as a sample size through a scientific population analysis known as census population. The data collection technique used was a semi-structured questionnaire. The quantitative data was analyzed with descriptive analysis and inferential statistics in SPSS version 25. It was found that career development has a positive correlation with employee retention (r =.796, p value = 0.000). Furthermore, succession planning has a positive correlation with employee retention (r =.772, p value = 0.00). The findings implied that both career development and succession planning have a positive effect on employee retention. The study recommends that CRDB Bank allow training and development to be the source of business innovation and creativity and introduce new rewarding strategies to keep talent in the organization for a long period of time. The research contributes as an addition to knowledge and literature on talent development practices, as it is still a new concept in many Tanzanian organizations.