RELATIONSHIP BETWEEN TALENT MANAGEMENT PRACTICES AND EMPLOYEE TURNOVER; A CASE STUDY OF THE CO-OPERATIVE BANK OF KENYA
Talent management is fast gaining a top priority for organizations across the world. Trends for talent management, talent wars, talent raids and talent shortage, talent metrics retention and concerns for talent strategy are expressed in the literature, across various countries. Most organizations put tremendous effort into attracting employees to their company, but spend little time into retaining and developing talent. A talent management system must be worked into the business strategy and implemented in daily processes throughout the company as a whole for the objectives to be met.
The study focused on examining the relationship between talent management and employee turnover in organizations and in particular Co-operative bank Ltd. It explored how talent management is applied in Co-operative bank of Kenya and also establish how the management of banks use talent management approaches as a way of equipping staff with the relevant skills and expertise to reduce turnover from the organisation. Another specific objective was to study the various approaches to talent management used by the banks.
The study was a case study researches design that was qualitative in nature. The study covered a sample of 20 managers and 60 middle level employees as respondents drawn from a total population of 200 managers and 600 employees at the bank branches in Nairobi. This was due to ease of accessing the same by the researcher. Stratified random sampling was used to select the sample size. Primary data was collected through interviews with managers at the branches and open ended and close ended questionnaires to the employees. Secondary data was also obtained through existing literature found in the banks library and archives. The qualitative data was analyzed using content analysis. Quantitative data was analyzed using descriptive statistical tool namely frequencies and percentages through the SPSS version 2.2 computer program. A pilot test was conducted on 10 employees of the bank in Moi Avenue branch to test the validity of the responses gotten from the respondents as well as observe the practical application of talent management approaches at the work place.
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