ABSTRACT
Talent management involves positioning the right people in the right jobs for competitive advantage. Many organizations at times fail to engage in the activities that enhance their talent pipelines, equip individuals with critical knowledge and skills, and deny employee an opportunity to enhance teamwork or be engaged to their jobs. This leads to many negative employee outcomes that affect the organizational outcomes because business objectives are not linked to individual competencies. The study aimed at investigating the effect of talent management on employee outcomes at Central Bank of Kenya. The independent variables were talent attraction, talent retention, employee training and career management while the dependent variable was employee outcomes; i.e. teamwork, job satisfaction and employee engagement. The sample for this study was 130 staff drawn from the population of about 700 staff at CBK’s head office. The main objective of the study was to investigate the effect of talent management on employee outcomes at the Central Bank of Kenya. The specific objectives were to establish the effects of talent attraction, find out the effects of talent retention, determine the effect of employee training, establish the effect of career management on employee outcomes and find out the combined effect of talent management on employee outcomes. The study adopted a descriptive survey of the staff of Central Bank of Kenya. Primary data was used in the study through use of questionnaires. After the collection of data the study used the SPSS (Version 20) to analyse the data. Descriptive analysis which aims at finding out what, where and how of a phenomenon was used mainly to summarize the data collected. The data was presented using statistical measures such as pie charts and frequency tables. A regression model was used in predicting the relationship between employee outcomes and various aspects of talent management. The descriptive statistical analysis of this study’s findings revealed that employee outcomes (in this case teamwork, job satisfaction and employee engagement) are significantly influenced by talent attraction, retention, employee training and career management at CBK.
Chapter One: INTRODUCTION
1.1 Background of the study
Complicated business realities and unexpected economic meltdown and recession have delivered shock waves to many organizations, (Bano, et al 2011). One of these realities is the relevance of talent management in an organization. David Watkin, (1998) coined the term talent management and continues to be adopted, as more organizations have realized that their employees' talents and skills drive employee outcomes leading to success or failure of an organization. Determinants of talent management in this study include; talent attraction, talent retention, employee training and career management. To be successful an organization needs to align talent management strategies with the organizations strategy. According to Gardener, (2002), this is usually an unmet need in many organizations leading to negative employee outcomes.
Talent Management refers to the organization attracting, retaining, motivating, training and developing talented people that an organization requires to remain competitive, (Collings and Mellahi, 2009). This competitiveness can only be derived from positive and growth oriented employee outcomes. Nowadays, talent management has become an essential priority for modern organizations, and organizational success is directly related to talent that is attracted, hired, developed and retained, (Ashton and Morton, 2005). Talent management that gives competitive employee outcomes is the process of building effective relationships with people in their roles, creating a great place to work and treating individual employees fairly, recognizing their value, giving them a voice and opportunities for growth (Thompson, 2005).
In the 21st century the big question is why some organizations are successfully implementing talent management processes for competitive advantage while others are not so successful (Bano,et al 2012). Organizations have learned that, they need the right talent to execute strategy through employee positive behaviours, (Gebelein, 2009). The challenge for many companies today is that they put tremendous effort into attracting employees but spend little time into retaining and developing talent and therefore denying them an opportunity to produce right outcomes, (Beheshtifar and Ziaadini, 2012).
Positive employee outcomes stem from developing a human resource asset base that is capable of supporting current and future organizational growth, directions and objectives, (Mahapatro, 2010). Due to the realization that people are the most valuable assets in an organization, the importance of organizational performance has been pushed to the front burner in many organizations in the 21st century, (Thomson et al., 2007, Blass, 2006). They go on to say that performance management system in organizations must measure the performance of assets including the most valuable asset, human resources (talent), meaning measuring employee outcomes.
One of the most important goals of any organization is to promote efficiency and effectiveness that could lead to positive employee outcomes that result into organizational success. The Balanced score card of Kaplan and Norton 1996 is one of mechanism which provides a holistic measurement of organizational performance (outcomes) since it provides with a comprehensive view of the business. It measures employee outcomes on four level also known as four pillars; i.e. financial outcomes, customer service outcomes, learning and growth as well as internal processes outcomes. It is not only a measurement system but also a management system which enables organizations to clarify their vision and strategy and translate them in action of talented employees (Kaplan and Norton, 1996). Many researchers have linked the aspect of talent management with employee outcomes whether negative or positive. Collings and Mellahi (2009) argued that the aspect of motivation of staff is important in linking talent management with employee outcomes and, in turn, with organizational outcomes because having high potential is already a confirmation of the fact that one possesses desired abilities. Boxall (2013) underscores how HR practices affect employee outcomes. He says that positive organizational outcomes result from aligning organizational and employee welfare and interests.
1.1.2 The Central Bank of Kenya
The Central Bank of Kenya was set up in 1966 through the Central Bank of Kenya Act of 1966. Its main aim is to be a central bank that is at par with international standards in terms of regulating the commercial banks in Kenya as well as formulating and implementing financial and monetary policies. CBK has seven branches throughout the country with a total number of approximately one thousand seven hundred staff members.
The central bank of Kenya has established an institution, Kenya School of Monetary Studies that trains and develops staff for the bank as well as for other banks and organizations in the East African region. In all organizations employee outcomes lead to positive or negative results. CBK has been criticized in many forums for non-performance and therefore this study will investigate whether these outcomes have anything to do with the organizational talent management. In addition to the challenges stemming from the global recession and the depreciation of the Kenya shillings, CBK has been criticized for non-performance and various performance gaps that could be resulting from challenges related to implementation of the talent management strategy. The fact that employee outcomes lead to organizational growth and success give this study the bases of finding out the relationship between talent management and the employee outcomes.
As much as CBK is one of the institutions where most employees have had one job in a lifetime, there is a new trend of younger employees moving for greener pastures and therefore dragging CBK into the war for talents, thus the need to study the Bank’s talent management strategy and employee outcomes.
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Item Type: Kenyan Topic | Size: 67 pages | Chapters: 1-5
Format: MS Word | Delivery: Within 30Mins.
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