THE INFLUENCE OF TALENT MANAGEMENT UPON RETENTION

As the Baby Boomer generation retires, American companies will have to replace 70 million skilled employees. Worldwide economic stagnation, historically high U.S. unemployment, and global security concerns pose the issue. To stay competitive, senior management must establish solid, long-term personnel management plans. An investigation of the difficulties and achievements of people management programmes and why some businesses opt not to use them. This research also looked at how job stability, pay, and opportunity affect retention rates. Despite considerable implementation difficulties, participants in this study s talent management programme sampled companies (69%) acknowledged the strategic benefit of a successful people management programme. Participants said career development opportunities influenced retention rates the most. While almost all HR managers favor talent management, the major reason cited for not having a programme is lack of senior management support. The research also showed that job stability, pay, and development opportunities had little predictive value for employee retention.