Talent Management Practices and Its Impact on Intention to Stay in the Organisation

Abstract

In today’s dynamic business environment, organizations are looking to add new and improved or innovative capabilities to their portfolio of business. To achieve these objectives organizations need to add a very vital component called human resources. Therefore, Talent management is the buzzword in the IT sector to attract and retain a talented workforce. The current research paper aims to explore the attitude of the employees towards the major factors that influence the talent management practices in Indian IT firms intending to stay in the organization. To realize the stated objectives the researchers have collected the primary data from two hundred talented employees across the IT sector. In this context talented means one has consistently been a top performer or received the best employee or star performer reward or recognition from the employer for at least two years in a specific domain. For this purpose, the researchers have identified eight major factors such as quality of supervision, Compensation Management practices, job engagement, innovation practices, open climate, Career Development Path, organizational Environment, and quality of working Environment. The multiple regression model results revealed that the independent variable Compensation management, Job engagement, Open climate, Organizational environment, and quality of working environment were the major drivers of intention to stay in the current organization. When we rank the determinants we found the most prominent determinant being Job Engagement followed by Quality of working environment, Open climate, Compensation management, and Organizational environment. The current study makes significant contributions to both talent management theory and practices. Firstly, we provide empirical support from the perspective of employees about the various talent management practices and strategies employed by various IT companies in the Indian context. Secondly, we provide a scheme of suggestions to IT firms across the sector and various strategies to retain the talented workforce. Thirdly, we have ranked the various variables chosen for the study based on the empirical evidence and suggested the managers' various interventions to nurture and retain the talented workforce. Additionally, the current paper is aimed to assist managers with some of the vital issues they face with the implementation of talent management strategies.