Talent Management Programmes and Cost Leadership in Deposit Money Banks in Lagos State, Nigeria

Abstract

The article examined talent management and cost leadership of selected deposit money banks in Lagos State, Nigeria. Survey research design was adopted in the study. The population was 2,169 senior employees and managers of ten selected deposit money banks in Lagos State, Nigeria. A sample size of 425 employees was determined using the Raosoft online sample size calculator. A stratified random sampling technique was adopted in the study. The data were collected using a structured and validated questionnaire. Cronbach’s alpha coefficients for talent management dimensions were: talent planning (0.860), talent acquisition (0.864), talent development (0.849), talent reward (0.943), and talent retention (0.919), and cost leadership (0.915). The response rate was 85.6%. The collected data were analysed with findings indicating that some talent management dimensions had significant effect on cost leadership. It was recommended that the management of selected deposit money banks in Lagos State, Nigeria, develop a policy to connect talent management to the cost leadership of the institution to make the sector competitive and sustainable in the long run. Such a policy would be the anchor for actions adopted by or proposed by the firms in matters pertaining to talent management. Keywords: Talent management, Cost leadership, Deposit Money Banks, Talent Planning, Talent Acquisition, Talent Development