development and management of Human Capital is probably the largest task in any
corporate or say formal establishment irrespective of the ownership structure.
The priority of organization is their human resources (Aston and Morton, 2005)
as such, human capital management is the most valuable asset that enables an
organization to meet their goals irrespective of where the organization is
located or the service render or product sold. This does not exclude the banks.
A bank can grow if the human capital management which is referred to as talent
management is utilized in the right proportion to the benefit of the bank.
Talent management involves how employee with the right skills and knowledge are
attracted, engaged and develop (Horwitz, Heng and Quazi, 2003).
to (Oladapo, 2014) Talent management simply refers to an organized syystem of
attracting, selecting, hiring, engaging, training and developing, retaining and
utilizing top talents to an organization’s best advantage. It aims at ensuring
the right job placements at the right time, in the right position for the right
candidates to deliver their best and remain committed to the organization.
Though, talent management is tailored towards the ethics and core values of an
organisation, but the focus is on developing and end ensuring optimal
exploration of high potentials or talents of individuals within the
organization more quickly than ever to improve the competitive edge.
is one of the critical resources for organizations to attain competitive
advantage”(Zhang, et al, 2012) and talent management will fail without top
management commitment to retaining its workforce (Lockwood, 2006) as cited in
(Izwar & Aerni, 2014).
talent management is done effectively, the result is a stronger bond between
the employee who is talented and the organization they work for or wish to work
for. They begin to see themselves in the light of the value they offer and the
joy of working that they get in return, hence they remain loyal and even more
productive. It ensures that employees remain professional at all times in their
business practices, serve meritoriously, have the right people made up of
seasoned professionals, who have excelled in their various professions,
possessing the requisite integrity, skills and experience.
the task of running an organization in this recent economic and democratic
times has now gone father and deeper than just hiring top talents from
institutions, this is considering also how complex human beings have evolved to
become over the last few years. It involves retaining talents with high
performing potentials who can add value to the organization. This requires but
not limited to creating recognition programs, offering adequate remuneration,
career development opportunities, promotion, interesting and challenging
responsibilities, conducive work climate for employees to perform at their
best, work-life balance, trust and confidence in management, involvement in
decision making and reward since they provide a strong basis for retention.
This can have a lasting impression on the hearts and minds of employee and
continue to substantiate employees’ perception that they are valued by their
employers (Silbert, 2005).
a general consensus an organization’s reward system is responsible for the
quantum of influence on the performance as well as their desire to remain
connected with such organisation. (Bamberger
& Meshoulam, 2000, MacDuffie, 1995). Focusing on retention is also very
essential for job satisfaction and employee commitment because it would help to
fulfil basic needs of employees and striving to attain organization’s goals.
in his work stated that talents can be retained if talented employees have a
positive perception of their employer and are less likely to voluntarily leave,
have greater employee loyalty, and improved performance. By experience and
diligent research, organizations that provide career development opportunities
to employees rank higher in the likelihood to experience a low voluntary turnover
(resignation in regular parlance) of top performers which can deplete
organizations’ talents. When employees have the confidence that their
organization holds their development dearly, they often become more committed and loyal to their
organization. In other word, employers need to demonstrate to employees that
talent management is a priority for all employees, sourcing talents, and
rewarding managers for improvement. (Schuler, et al., 2011). “The commitment
will be mutual and the arrangements for involvement will be genuine, i.e.
management will be prepared not only to listen but to act on the views
expressed by employees” (Armstrong, 2006).
It is essential that
management keep employees informed on matters that affect them and provide
platforms that encourage them to freely express their views and opinions which
are necessary for change. Commend employees and make them understand the
contributions they can make and how it would benefit them. Organizations that
identify talent, enrich job contents to motivate and retain talented people
would certainly (Guthridge, McPherson, & Wolf, 2009) compete successfully
and earn a competitive advantage. Several studies have shown that talents are
the fabric of every organization.