Talent Management and Financial Performance of Deposit Money Banks in Anambra State
DOI:
https://doi.org/10.51699/cajitmf.v4i10.629Keywords:
Talent managemen, Financial performance, Talent attraction, Sales performance, Talent retention, Revenue performanceAbstract
This study examined the relationship between talent management and financial performance of Deposit Money Banks in Anambra state. The specific objectives were to evaluate the relationship between talent attraction and sales performance; and to examine the relationship between talent retention and revenue performance. This study employed a descriptive survey research design. The population comprised mid and top-management employees of the DMBs on fixed and contract employment. The researcher identified two thousand, five hundred and eighty (2580) employees in these categories in Anambra State. A sample size of four hundred and eighty seven (487) was arrived at by applying Bill Gooden's two-stage statistical formula. The instrument of data collection in this study was a structured questionnaire. The Pearson correlation test was used to check for correlation among the variables, while, linear regression was used to empirically test the hypothesis. The simple linear regression results showed a positive significant relationship between talent attraction and sales performance (t=83.513; p<.05); and a positive significant relationship between talent retention and revenue performance (t=38.602; p<.05). Based on this the study recommended among others that managers employ strategic and effective talent attraction techniques to boost sales performance. In order to keep talented or high-potential individuals, managers should employee practices for talent retention including, but not limited to, reward management, acknowledgement of talent, and enhancing the working environment.
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bushor.2012.05.007
4. Aguoru, C. V. N., Barde, B. E., & Gbande, C. A. (2021). Effect of talent attraction and retention on growth of medium manufacturing enterprises in North Central Nigeria. International Journal of Research Publication and Reviews, 2(12), 324-331.
5. Al Aina, R., & Atan, T. (2020). The impact of implementing talent management practices on sustainable organizational performance. Sustainability, 12(20), 8372.
6. Al Nsour, H. I., & Tayeh, B. K. A. (2018). The impact of talent management on competitive advantage in commercial banks in Jordan from the point of view of banks’ employees. Arab Economic and Business Journal, 13(1), 60-72. https://doi.org/10.1016/j.aebj.2017.06.002
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8. Alkaf, T. T., & Chiang, D. M. (2022). Talent management practices and employee discretionary work behaviour (DWB) in the hotel sector in Malaysia. African Journal of Emerging Issues, 4(5), 1-9.
9. Almendarez, L. (2013). Human capital theory: Implications for educational development in Belize and the Caribbean. Caribbean Quarterly, 59(3-4), 21-33.
10. Anlesinya, A., Amponsah-Tawiah, K., & Dartey-Baah, K. (2019). Talent management research in Africa: towards multilevel model and research agenda. African Journal of Economic and Management Studies, 10(4), 440-457. https://doi.org/10.1108/AJEMS-12-2018-0371
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15. Berliandaldo, M., & Hidayat, A. (2017). Implementing talent management approach, to improve non-tax revenue in center for innovation. International Journal of Business and General Management (IJBGM), 6(6), 47-56.
16. Berntson, E., Sverke, M., & Marklund, S. (2006). Predicting perceived employability: human capital or labour market opportunities?. Economic and Industrial Democracy, 27(2), 223-244.
17. Bethke-Langenegger, P., Mahler, P., & Staffelbach, B. (2011). Effectiveness of talent management strategies. European Journal of International Management, 5(5), 524-539.
18. Boyd, B. K., & Salamin, A. (2001). Strategic reward systems: A contingency model
of pay system design. Strategic Management Journal, 22(8), 777-792.
19. Byars, L. L., Rue, L. W., & Ibrahim, N. A. (2016). Human resource management (11th Ed.). New York: McGraw-Hill Education.
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21. Chang, W., & Tanford, S. (2018). The impact of job advertising on hospitality graduates’ job pursuit intention. Journal of Hospitality & Tourism Education, 30(4), 215-228.
22. Cheraisi, E., & Busolo, H. (2020). Effect of talent attraction on organizational performance: A case of hotels in South Rift Region, Kenya. European Journal of Business and Management, 12(6), 10-19.
23. Čizmić, E., & Ahmić, A. (2021). The influence of talent management on organisational performance in Bosnia & Herzegovina as a developing country. Management: Journal of Contemporary Management Issues, 26(1), 129-147.
24. Collings, D. G., & Mellahi, K. (2009). Strategic talent management: A review and research agenda. Human Resource Management Review, 19(4), 304-313.
25. Collings, D. G., Mellahi, K., & Cascio, W. F. (2019). Global talent management and performance in multinational enterprises: A multilevel perspective. Journal of Management, 45(2), 540-566.
26. Cooke, F. L., Saini, D. S., & Wang, J. (2014). Talent management in China and India: A comparison of management perceptions and human resource practices. Journal of World Business, 49(2), 225-235.
27. Dalayga, B., & Baskaran, S. (2019). Talent development practices: Does it really matters. International Journal of Academic Research in Business and Social Sciences, 9(6), 896-906.
28. Dalayga, B., Baskaran, S., & Mahadi, N. (2021). Talent Development Practices: A Revisit as an Imperative for Talent Retention. International Journal of Academic Research in Business and Social Sciences, 11(2), 330-348.
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30. Dhanalakshmi, R. V., Gurunathan, K. B., & Vijayakumar, M. (2016). A study on talent management practices and its impact on employee retention in IT industry in Chennai district. Asian Journal of Research in Social Sciences and Humanities, 6(9), 916-929. https://doi.org/10.5958/2249-7315.2016.00842.X
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32. Drucker, P. F. 1. (2008). The Essential Drucker: The best of sixty years of Peter Drucker's essential
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34. Dubey, R., & Gunasekaran, A. (2015). Shortage of sustainable supply chain talent: An industrial training framework. Industrial and Commercial Training, 47, 86-94.
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37. Gao, Z. (2012). Research on Shanghai Talents Attractiveness Based on Analytic Hierarchy Process. East China Economic Management, 26(2), 5-9.
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43. Huertas-Valdivia, I., Llorens-Montes, F. J., & Ruiz-Moreno, A. (2018). Achieving engagement
among hospitality employees: A serial mediation model. International Journal of Contemporary Hospitality Management, 30(1), 217-241. http://dx.doi.org/10.1108/ijchm-09-2016-0538
44. Isaeva, M. (2021). The Importance of Employer Branding. Available [Online] at: https://flair.hr/en/blog/employer-branding/
45. Jackson, S. E., Schuler, R. S., & Werner, S. (2009). Managing Human Resources. Mason, OH: South-Western Cengage Learning.
46. Kenton, W. (2021). Financial Performance. Available [Online] at: https://www.investopedia.com/terms/f/financialperformance.asp
47. Khan, A. G., Banik, S., Uddin, M. A., & Moudud-Ul-Huq, S. (2021). Unlocking the relationship between talent management practices and performance sustainability in the sports industry. International Journal of Asian Business and Information Management (IJABIM), 12(3), 366-380.
48. Khan, M. A., Md Yusoff, R., Hussain, A., & Binti Ismail, F. (2019). The mediating effect of job satisfaction on the relationship of HR practices and employee job performance: Empirical evidence from higher education sector. International Journal of Organizational Leadership, 8, 78-94.
49. Khoreva, V., Vaiman, V., & Van Zalk, M. (2017). Talent management practice effectiveness: Investigating employee perspective. Employee Relations, 39(1), 19-33.
50. King, K. A., & Vaiman, V. (2019). Enabling effective talent management through a macro-contingent approach: A framework for research and practice. BRQ Business Research Quarterly, 22, 194-206. https://doi.org/10.1016/j.brq.2019.04.005
51. Kitsios, F., Giatsidis, I., & Kamariotou, M. (2021). Digital Transformation and Strategy in the Banking Sector: Evaluating the Acceptance Rate of E-Services. Journal of Open Innovation: Technology, Market, and Complexity, 7(3), 204. https://doi.org/10.3390/joitmc7030204
52. Kiwia, R. H., Bengesi, K. M. K., & Ndyetabula, D. W. (2020). Succession planning and performance of family-owned small and medium enterprises in Arusha City – Tanzania. Journal of Family Business Management, 10(3), 213-230. https://doi.org/10.1108/JFBM-03-2019-0018
53. Knassmuller, M., & Veit, S. (2016). Culture Matters - The Training of Senior Civil Servants in
Austria, Germany, the Netherlands and Switzerland. Teaching Public Administration,
34(2), 120-149. https://doi.org/10.1177/0144739415620949
54. Krebs, B., & Wehner, M. (2021). The Relationship between Talent Management and Individual and Organizational Performance. In The Routledge Companion to Talent Management (pp. 539-555). Routledge.
55. Kristof, A. L. (1996). Person-organization fit: An integrative review of its conceptualizations, measurement, and implications. Personnel Psychology, 49, 1-49.
56. Kumar, T. S., & Kavitha, M. (2016). Employee retention: A key tool for organisation profitability. Shanlax International Journal of Management, 4(2), 65-68.
57. Pandita, D., & Ray, S. (2018). Talent management and employee engagement – A meta-analysis of their impact on talent retention. Industrial and Commercial Training, 50(4), 185-199. https://doi.org/10.1108/ICT-09-2017-0073
58. Patrick, J. (2000). (Ed.), Training. Introduction to Work and Organisational Psychology, 100–
125. Oxford, UK: Blackwell.
59. Potgieter, I. L., & Snyman, A. M. (2018). Personal factors in talent retention in the South African banking industry. Journal of Psychology in Africa, 28(6), 455-461.
60. Rana, M. H., & Malik, M. S. (2017). Impact of human resource (HR) practices on organizational performance: Moderating role of Islamic principles. International Journal of Islamic and Middle Eastern Finance and Management, 10(2), 186-207. https://doi.org/10.1108/IMEFM-04-2016-0060
61. Sutherland, M., & Jordaan, W. (2004). Factors affecting the retention of knowledge workers. SA Journal of Human Resource Management, 2(2), 55- 64.
62. Tafti, M. M., Mahmoudsalehi, M., & Amiri, M. (2017). Critical success factors, challenges and obstacles in talent management. Industrial and Commercial Training, 49(1), 15-21.
63. Thunnissen, M., & Gallardo-Gallardo, E. (2017). Talent management in practice: An integrated and dynamic approach. Emerald Group Publishing.
64. Thunnissen, M., & Gallardo-Gallardo, E. (2017). Talent management in practice: An integrated and dynamic approach. Emerald Group Publishing.
65. Tlaiss, H. A., Martin, P., & Hofaidhllaoui, M. (2017). Talent Retention: Evidence from a Multinational Firm in France. Employee Relations, 39(4), 426-445. doi.org/10.1108/ER-
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2023-10-18
How to Cite
Meduoye Bunmi Oluwarantimi, M. N. Okeke, & A. N. Onuorah. (2023). Talent Management and Financial Performance of Deposit Money Banks in Anambra State. Central Asian Journal of Innovations on Tourism Management and Finance, 4(10), 86–108. https://doi.org/10.51699/cajitmf.v4i10.629
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