Abstract
The functioning and long term survival of any organizations highly depends on several factors. Attracting and retaining the best talented employees is a key factor to ensure the accomplishment of organizational goals. Nowadays, most of organizations pay little attention on the retention of employees than attracting them. As a significant determinant for achieving organization’s goals, this study is to discuss the impact of Talent management on Non managerial employee retention in private commercial banking sector, Western province of Sri Lanka. According to the previous studies researchers proved that generally private sector employees enjoy more financial and non-financial benefits rather than state sector banking employees. But employee retention in private commercial banking sector lower than state banking sector. This reason was root factor to study the employee retention in private commercial banking sector. Further this study was focused on Non managerial employees in private commercial banks since they are the drivers of daily operations of banks. Further, their employee turnover is greater than Managerial level employees. The main objective of this study is to investigate the impact of Talent management on Non managerial employee retention. The study problem is to identify the impact of Talent management on Non managerial employee retention in private commercial banking sector of Western province in Sri Lanka. The data were collected by distributing a structured questionnaire from the convenient select sample of 375 of non-managerial employees in private commercial banks, Western province of Sri Lanka. The data were presented and analyzed using SPSS version 20.0. The Pearson product movement correlation analysis and least square linear regression analysis analyzed the data over which the hypothesis were tested. The findings of the study indicated that Talent management function positively correlated with non-managerial employee retention in private commercial banks and based on study findings and previous literatures study concluded that Talent management is a significant factor that considerably effect on employee retention.
Highlights
The Banking sector in Sri Lanka is the foundation of county’s financial system and nowadays both private and government commercial banks represents 48.1% contribution to the county’s financial system
According to the results of demographic factors, 58.7% of gender dominated by male, age category 42.4% was dominated by age group 40- 49.under the category of service period 44.8% were dominated by 4-6 year service period and based on the administrative job title 80.3% were on the executive category and 85.6% were married respondents
This research finding will be helpful for whole banking sector for private commercial banks in western province in order to identify which aspect to talent management initiatives effects on bank’s employee management
Summary
The Banking sector in Sri Lanka is the foundation of county’s financial system and nowadays both private and government commercial banks represents 48.1% contribution to the county’s financial system. Organizations are suffering a problem of employee turnover Both private and government banks are suffering a problem of employee turnover and this is a most common issue specially in private commercial banking sector in Sri Lanka. By analyzing the data relating to the employee recruitment and investment on training, it is noted that all commercial banks are highly involve in talent management practices. They increase cost and time for the progression of their employees year by year
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