| Summary: | There is no question that effective talent management requires a well-defined process. Talent management includes all talent processes needed to optimise people within an organization. The processes include: attracting, recruiting targeted selection, performance management, succession planning, talent reviews, development planning and support, career development, and workforce planning. The hired employees should be developed to mould into the organization culture so that they support the vision and mission of the organization. Retention of key employee is critical to the long term success of business as it ensures customer satisfaction, product sales, and satisfied co-workers, reporting staff, effective succession planning and a deeply embedded organisational knowledge and learning culture. iii The research problem in this study was to investigate how successfully Talent Management and Employee Retention strategies been implemented at the Bank of Zambia. To achieve this objective a comprehensive study was undertaken on talent management and employee retention. The study involved conducting a literature survey to understand the processes that are necessary for implementation of talent management and employee retention in an organization. An empirical study was later conducted to investigate whether the processes of talent management and employee retention have been successfully implemented at the Bank of Zambia. The survey was compared to the literature review to determine whether the Bank of Zambia complied with the findings in the literature review. The main findings from this research are that for talent management to be successful, the initial step of planning right from the strategic point of aligning to talent goals to business goals through to succession planning should be well conducted. This process needed special attention. As much as the empirical study showed a case of progress towards engagement, there was concern raised regarding job security. Some employees perceived that they were insecure in their job. Compensation and rewards were also perceived to lack equity in their distribution and that promotion and career progression were below expectation for may employees The final observation from the investigation was that the organizational culture was not well adopted by respondents. . Employees perceived that the culture did not support innovation and the rewards system did not provide incentives for better performance.
|
|---|
