Talent Management And Employee Job Satisfaction

Project and Seminar Material for Human Resource Management (HRM)

Talent Management And Employee Job Satisfaction


Abstract


The purpose of the study was to examine the effect of talent management practises on employee job satisfaction. The study adopted a descriptive survey research design. The population of the study was 95 employees of First Bank Nigeria PLC. This study adopted a stratified sampling technique to select a sample size of 76 respondents. A structured closed ended questionnaire was used to collect primary data. Data was analysed both for descriptive statistics (frequencies and percentages) and inferential statistics (correlation analysis). Data was presented using tables and figures.

The findings on the extent to which training and development affects employee performance revealed a statistically significant relationship between training and development of employees and employee performance. Majority of respondents believed that systematic training is essential for enhancing employees’ performance, while at the same time believed that a suitable work environment that enhances employees’ creativity is important for employees’

performance.
This study concludes that training and development is an essential component of organizations’ talent management strategies that enhance employee performance. Training enhances the necessary skills and knowledge required by the employees to perform their duties while development is essential in long term employee competence performance which is also critical to overall employee performance. Succession planning, career development and employee motivation are some of the talent retention strategies that when used by organizations, they do enhance employee performance. Talent mechanisms put in place by organizations do not only enhance employees’ current performance but guarantees employees’ future performance. This study concludes that performance appraisal systems are important to employee performance. How managers within organizations involve employees in the entire process of performance management system including designing of the evaluation tool contributes to the acceptance and use of performance evaluation to enhance employees’ performance.


Chapter One


Introduction

1.1 Background of the Study

Talent management involves the competence of recruiting, retaining, and producing the best talented employees existing in an available job market. Talented employees attract benefits to the organization in providing customer satisfaction, quality service, high revenue yield, lower cost, high productivity, cycle time, and market capitalization. Talent management provides the organization with employees with its relevant knowledge, quality skills, high potentials and cognitive abilities. Job satisfactions constitute a vital factor in employee retention as either a talent employee is satisfied with the job or quits the job. Consequently, it is vital for career success. Job satisfaction leads to the increase of employee’s individual’s performance and personal satisfaction. (Sayaadi, 2012).

Talent management, places employees on the right jobs with clear career path thereby leading to employees’ job satisfaction Inspite of the benefit of talent management the greater challenge lies on the preservation of this talented workers in view of the competitive business environment offering new opportunities to employees. It is also pertinent to note that only few organization focuses on talent management and their leadership structure in the process of human resource and organizational management. They invest on new technologies, operating systems and software planning but lack the competence of Talent management even when the ultimate success of the firm lies with talented staff. While modern organizations, knows their improvements depend on the staff investment and trying to guide talent staff to the ultimate success (sueem, 2009) (Taj al-Din and Maali tafti, 2008). The research therefore seeks investigate talent management and employee satisfaction with a case study of selected Banks in lagos.


1.2 Statement of the Problem

Talent management involves the competence of recruiting, retaining, and producing the best talented employees existing in an available job market. Talented employees attract benefits to the organization in providing customer satisfaction, quality service, high revenue yield, lower cost, high productivity, cycle time, and market capitalization. Inspite of the benefit of talent management the greater challenge lies on the preservation of this talented workers in view of the competitive business environment offering new opportunities to employees.

It is also pertinent to note that only few organization focuses on talent management and their leadership structure in the process of human resource and organizational management. They invest on new technologies, operating systems and software planning but lack the competence of Talent management even when the ultimate success of the firm lies with talented staff.

While modern organizations, knows their improvements depends on the staff investment and trying to guide talent staff to the ultimate success (sueem, 2009). (Oliver, 2010). The problem confronting the research is to determine Talent management and employee satisfaction with a case study of selected banks in Lagos. Talent management and employee job satisfaction a study of selected commercial banks in lagos Nigeria


1.3 Objectives of the Study

  1. To describe the various talent management practices in selected commercial banks in Lagos.
  2. To determine the roles of talent management on job satisfaction in selected commercial banks.
  3. To estimate the relationship between job satisfaction and employee engagement in commercial banks.

1.4 Research Questions

  1. What are the various talent management practices in selected commercial banks in Lagos?
  2. What are the roles of talent management on job satisfaction in selected commercial banks?
  3. What is the relationship between job satisfaction and employee engagement?

1.5 Significance of the Study

The study is particularly important in view of the gains associated with the application of Talent management system in the organization. The study shall elucidate on the nature and role of talent management in enhancing employee satisfaction.


1.6 Research Hypothesis

Ho: The impact of Talent management on Employee Satisfaction in selected commercial banks in Lagos is Low

Hi: The impact of Talent management on Employee Satisfaction in selected commercial banks in Lagos is high


1.7 Scope of the Study

The study focuses on the appraisal of Talent management and employee satisfaction. A case study of selected banks in Lagos


1.8 Limitations of the Study

The research was confronted by some constraints including logistics and geographical factors.


1.9 Definition of Terms

Talent Management

Talent management involves the competence of recruiting, retaining, and producing the best talented employees existing in an available job market. Talented employees attract benefits to the organization in providing customer satisfaction, quality service, high revenue yield, lower cost, high productivity, cycle time, and market capitalization.

Talent marketplace

Talent market place constitute as the employee training and development strategy within an organization.


Chapter Five


5.0 Discussion, Conclusion and Recommendations

5.1 Introduction

This chapter presents the study discussion, conclusion and recommendation. The summary of the entire study is presented first. This is followed by discussion on the extent to which training and development affects employee performance, the discussion on the extent to which talent retention strategies affect employee performance and the extent to which performance management systems affect employee performance. The study conclusions and recommendations are presented in the same order.


5.2 Summary

The purpose of the study was to examine the effect of talent management practises on employee performance. The study was guided by the following research questions: To what extent do training and development affect employee performance; to what extent do talent retention strategies affect employee performance; and finally to what extent do performance management systems affect employee performance.

The study adopted a descriptive survey research design. The population of the study was 95 employees in Head office at First Bank Nigeria PLC. This study adopted a stratified sampling technique to select a sample size of 76 respondents. A structured closed ended questionnaire was used to collect primary data. Data was analysed both for descriptive statistics (frequencies and percentages) and inferential statistics (correlations). Data has been presented using tables and figures.

The findings on the extent to which training and development affects employee performance revealed a statistically significant relationship between training and development of employees and employee performance. Majority of respondents believed that systematic training is essential for enhancing employees’ performance. Equally, majority of respondents believed that a suitable work environment that enhances employees’ creativity is important for employees’ performance. Similarly, over half of respondents felt that when an organization implements mechanisms for training and development, then employee’s performance is enhanced.

The findings on the extent to which talent retention strategies affect employee performance revealed a statistically significant relationship between talent retention strategy and employee performance. Many of respondents believed that when an organization identifies and prepares potential employees to take up responsibility of key staff leaving an organization, this leads to enhanced employee performance. Majority also believed that when an organization has well-articulated succession plans that enables employees to perform managerial roles, this enhances employees’ performance at First Bank Nigeria PLC.

The findings of the extent to which performance management systems affect employees’ performance revealed a statistically significant relationship between performance management systems and employee performance. Many of respondents believed that when an organization has proper appraisal evaluation and communication processes for employees this leads to enhanced performance. Over half of the respondents also indicated that employee performance is enhanced when employees are fully involved in the appraisal process. Majority of respondents also felt that constructive feedback is essential for enhancing employees’ performance at First Bank Nigeria PLC.


5.3 Discussion

5.3.1 Effects of Training and Development and Employee Performance

This study established the existence of a statistically significant relationship between training and development and employee performance. This finding is in line with Cascio (2010) who had observed that organizations that did promote efficient learning training programs had higher levels of employee performance compared to those that did not. This is collaborated by Rothwell and Kazanas (2003) who found out that talent training requires not only formal classroom training but also there are other approaches such as mentoring and autonomous learning. Equally, Wright, Gardner and Moynihan, (2003) had argued that in as much as most organizations use training and development as a psychological connection between the company and the employee, the end goal is actually to enhance employee performance.

Majority of respondents believed that systematic training is essential for enhancing employees’ performance. This is in line with Aswathappa (2008) argument that training and development improves current or future employee performance by improving an employee’s ability to perform through learning, usually by changing attitudes or increasing skills and knowledge. Further, he argued that the organization must offer a wide range of development provision, enabling staff to gain the skills, competences and experience necessary to contribute to the attainment of individual, team and organizational goals and expectations. Thus, it could be argued that the training of employees provides an opportunity to widen knowledge and capabilities that enhances more efficient cooperation at the workplace thus achieving individual development and improving work performance.

Many of respondents believed that a suitable work environment that enhances employees’ creativity is important for employees’ performance. In this regard, training and development not only provide employees the ability to sharpen their thinking and creativity but also be able to make better decision in time and in a more productive manner resulting to enhanced performance. Moreover, it also enables employees to deal with the customer in an effective manner and respond to their complaints in timely manner (Hollenbeck, Derue & Guzzo, 2004).

The findings of this study revealed that many of respondents felt that when an organization implements mechanisms for training and development, then employee’s performance is enhanced. This finding is confirmed with Cheboi (2014) argument that employee training generates an improvement in performance related benefits for both the organization and the employee. This is partly because training positively influences employee’s performance due to development of knowledge, behaviour, abilities, skills and competencies. Training bridges the performance gap in the implementation of tasks since it comes as an intervention for developing fastidious skills and competencies of employees thus enhancing their performance. Training therefore enhances employee competencies hence enables them to implement their job related tasks efficiently thus facilitating the achievement of the firm`s objectives. Furthermore, cases of dissatisfaction, turnover and absenteeism will be reduced if and only employees are trained. All these reductions will translate to improved employee job performance leading to overall enhancement of overall organizational performance (Cheboi, 2014).

5.3.2 Effect of Talent Retention Strategies and Employee Performance

The findings of this study revealed the existence of a significant relationship between talent retention strategies and employee performance. This finding is in line with the findings by Agrela (2008) who noted that talent strategies enable an organization to pursue high performance and improved results through talent management. Agrela, (2008) argued that talent strategies enabled organizations to focus on factors that affect employee retention leading to growth and success of organizations as employees’ performance is enhanced through talent programs within the organizations.

The findings of this study revealed that many of the respondents believed that when an organization identifies and prepares potential employees to take up responsibility of key staff leaving an organization, this leads to enhanced employee performance. Milkovich and Boundreau (1988) had argued on the same line when he asserted that regardless of the expansion or contraction of the total workforce in the organizations, retention of key talented employees is important. He further stated that the availability of the right number, right kind of management staff at the right time and in the right positions is imperative enhances employee performance. It is therefore important that when a sudden vacancy occurs in an organization, there is need to have employees who have already been groomed and who are talented enough to take up the role of the departing employee. It could be argued that when an organization loses its talented employee, it exposes itself to drastic changes in employee performance. Therefore, planning on how a departing and talented employee’s role is going to be filled is very important to organizations.

The findings of this study also revealed that majority of respondents felt that on-going processes for developing employee’s careers contributes to employee performance. This is in line with the argument advanced by Guthridge, Harttig, Komm and Lawson (2010) who noted that the primary role of talent planning is to enhance easy identification of future talents which are needed at all organizational levels. The talent planning process endeavors to obtain an optimal talent positioning level that refers to having the correct talent at both the right time and place. When an organization ensures that processes are in place not only to monitor performance but also to identify talent that will be critical for continuous employee performance in future.

The findings of this study revealed that majority of the respondents believed that when an organization has a well-articulated succession plan that enables employees to perform managerial roles, this enhances employees’ performance. A study by Tunje (2014) had established similar findings. Tunje (2014) noted that their existed a relationship between succession planning practices and employee performance in large media houses in Kenya. The study findings revealed that a positive relationship actually exists between various practices of succession planning and employee performance. The findings suggested that practices geared towards succession planning enhanced employee satisfaction that in turn enabled them to stay motivated to perform better at the current firm hence shun possibilities of leaving. These findings can be extrapolated to the real estate sector since respondents for this study had similar sentiments. When an organization provides mechanisms for employees to ascend to higher levels of organizational hierarchy, it enables the employees to glean on skills and experiences that enhances their abilities and skills. When an employee can be able to take up managerial roles, then succession within an organization can take up easily without major disruptions both to employees’ performance and to the organizational performance.

5.3.3 Effects of Performance Management Systems and Employee Performance

The findings of this study revealed the existence of a statistically significant relationship between performance management systems and employee performance. Byars and Rue, (2008) had argued that performance management systems were directly tied to an organization and employee’s performance since performance systems helped employees work diligently and creatively toward achieving organizational objectives. Arup (2008) had argued that performance management systems basically serve two critical purposes. Firstly, they help in reaching informed decisions about administrative issues which include aspects such as according employees with bonuses, merit raises and performance appraisals. The performance management systems are also critical in coming up with the organization’s development goals which include aspects such as generation of their feedback. Once goals for enhancing employees’ performance have been set through appraisal system, it becomes easy for managers to help employees develop activities that actualizes performance of organization goals.

The findings of this study also revealed that majority of respondents believed that when an organization has proper appraisal evaluation and communication processes for employees, this then leads to enhanced performance. To this, Gommans and Kihiko (2013) had argued that firms that endeavor to adopt various performance management practices that entails worker’s selection, goal setting and placement as well as performance appraisals do enhance employee performance. This means that managers can define the overall goals an employee can work on and consequently, work towards developing eliminating deficiencies that exist in employee’s performance.

The findings of this study show that many of respondents felt that employee performance is enhanced when employees are fully involved in the appraisal process. While over half respondents felt that constructive feedback is essential for enhancing employees’ performance. These findings are in line with Agutu (2013) who sought to explore the perceived influence of performance appraisal criteria on employee job satisfaction at Kenya Airways and the level of employee involvement. The findings for Agutu’s study revealed that there were various dimensions that influenced job satisfaction even though weak. Specifically, various aspects of performance appraisals relatively and positively influence job satisfaction and employee performance. This included the level of employee involvement in the process. When an employee knows that they were part of the decision that selected the criteria that was used to evaluate them, they embrace the process. As such, perceived fairness in the appraisal and performance management system enables employees to perform better since they are highly motivated at the fairness exhibited by their organization.

Equally, a study that was done by Iqbal, Haider, Ahmad, Batool and Ul-ain (2013) examined the impact of performance appraisal on employee’s performance whereby motivation was selected for a moderating role in the study. Research findings revealed the presence of a positive relationship between the presence of performance appraisals and individual employee performance. Therefore, we can deduce that the structure, formation, participation and engagement of employees in performance management system is important to employee performance.


5.4 Conclusions

5.4.1 Effects of Training and Development on Employee Performance

This study concludes that training and development is an essential component of organizations talent management strategies that enhance employee performance. Training enhances the necessary skills and knowledge required by the employees to perform their duties, while development is essential in the long term employee competencies is also critical to the overall employee performance. This study has demonstrated that when an organization invests in training and development, employees’ performance does get enhanced. Critical training components like training program, management support and employee commitment to the training and development is essential to overall employee performance. The relationship between training and development and employee performance is significant.

5.4.2 Effects of Talent Retention Strategies and Employee Performance

This study concludes that talent retention strategies are important and essential in organizations that are seeking to develop and enhance employees’ performance. Succession planning, career development and employee motivation are some of the talent retention strategies that when used by organizations, they do enhance employee performance. Talent mechanisms put in place by organizations do not only enhance employees’ current performance but guarantees employees’ future performance. This study further concludes that the relationship between talent retention strategies and employee performance is statistically significant.

5.4.3 Effects of Performance Management System and Employee Performance

This study concludes that performance appraisal systems are important to employee performance. How managers within organizations involve employees in the entire process of performance management system including designing of the evaluation tool contributes to the acceptance and use of performance evaluation to enhance employees’ performance. Positive, constant and consistent management feedback to employees’ appraisals are essential to employee performance. Therefore, this study concludes that the relationship between performance management systems and employee performance is statistically significant.


5.5 Recommendations

The following are recommendations based on the findings of the study.

5.5.1 Recommendations for Improvement
5.5.1.1 Effects of Training and Development and Employee Performance

In order for First Bank Nigeria PLC to enhance employee performance, it is imperative that the organization focuses on developing programs that are not only essential but enhances employees’ competitiveness. Programs should be designed by both managers and employees. Employees are a critical component that determines the success or failure of an organization’s training programs, therefore, should not be ignored. Equally, when designing career development, it is important that First Bank Nigeria PLC examine what other organizations in the sector are doing to enhance career development of their employees. After the training and development program has been developed and agreed upon by employees and management, it has to be implemented. There is need for the organization to ensure that the training programs are current based on the market needs and monitoring mechanisms for employees’ performance is established for benchmarking purposes.

5.5.1.2 Effects of Talent Retention Strategies on Employee Performance

Since this study has revealed the existence of a significant relationship between talent retention strategies and employee performance, it is important that First Bank Nigeria PLC establish talent retention strategies and make them known to all employees. This is to ensure that employees are aware that the organization is making necessary effort to enhance their performance. Equally, each of the talent strategies should be used in a targeted manner for each employee. Talent strategies that work for employees in one department might not work for employees in another department due to different career needs. Similarly, even within same departments, each employee should be targeted with specific sets of strategies that are suitable and complimentary to their personality, work, motivation and level of responsibility within the organization. The adopted talent strategies should be evaluated periodically within the industry standards to ensure sustainable competitive advantage for employees at First Bank Nigeria PLC.

5.5.1.3 Effects of Performance Management Systems on Employee Performance

Performance management systems have exhibited a significant relationship with employee performance in this study. Therefore, it is important that First Bank Nigeria PLC enhance their performance management systems as a way of ensuring sustainable employee performance. The concept of employee involvement in the entire process of performance appraisal should be made mandatory. The more employees are involved in designing a performance management system that will be used to evaluate them, the more they will want to support the system. First Bank Nigeria PLC should also design a performance evaluation system that enhances the way and manner in which feedback from management is provided to employees. Performance management systems at First Bank Nigeria PLC should also include succession plans for each management level and for employees. The preparation for performance continuity within the organization is important morale booster for employees, since they will know what is required of them to ascend to the next available job.


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