As the key players of the Human Resources role, the Human Resources managers are required to produce an environment characterized by growing levels of skilled and trained labor and talent.
In today’s highly competitive environment, talent retention and employee loyalty can impact on the success of the organization. As the central concern of Human Resources managers and top executives, talent retention and employee loyalty plays a significant role in the workforce. Talent retention and management entails following strategies for successfully improving employee retention and recruitment, while engaging organizational and employee loyalty involves flexibility to ensure the employees’ commitment to the success of the organization (Hughes & Rog, 2008). Thus, there is a need to identify the factors which are critical to their effective implementation (Hughes & Rog, 2008).
As the key players of the Human Resources role, the Human Resources managers are required to produce an environment characterized by growing levels of skilled and trained labor and talent. The corporate systems should be designing sophisticated employment systems that guarantee a competitive advantage by prioritizing human resource development (Holland, Sheehan, & De Cieri, 2007).
The importance of the Human Resources role in talent retention and employee loyalty has emerged in the last decade. Economic growth on a global scale and the creation of thousands of jobs has generated a need for marketing and administration strategies in talent recruitment and retention (Hutchings, De Cieri, & Shea, 2011). The role of Human Resources managers in designing, aligning and integrating strategies for talent retention and building a winning organizational and corporate culture cannot be questioned (Scott & Revis, 2008).
In order to plan strategies for organizations to retain their talent and employees, there are many other factors involved aside from current turnover cost reduction. This has to be handled by professional, trained Human Resources staff. Thus, the processes of employee loyalty and retention and how they could benefit an organization will be discussed in this paper.
While the best skilled and trained people can select the best company for themselves, the companies and organizations are rapidly creating exciting incentives and retention bonuses so that talented workers will continue their work with the organization. It now seems that providing better and bigger benefits is not enough: there is an entirely new generation of multiple types of workers with multiple expectations and needs encompassing careers, jobs, and their workplace (Rose & Gordon, 2010). With this in mind, companies need to distinguish the role of Human Resources managers in planning sustainable strategies for workers, free agents, technical agents and others who usually do not care much about organizational loyalty.
Workers want many different things from their company: continuous training, flexibility, mobility, personal satisfaction, the sense of making a contribution, and a feeling of autonomy (Khan, Kashif Ur, Ijaz Ur, Safwan, & Ahmad, 2011). Human Resources managers have to work out, in a more thoughtful way than their competitors do, what preferred employees want, and how the organization can provide it to them.
While the roles of Human Resources are identified in the available literature in the context of talent retention and employee loyalty, some aspects are lacking, which include what do Human Resources managers do to improve the organization’s employees’ retention and job loyalty. One of the 21st century’s human resource management primary management tools is talent management. This is an enacted and espoused commitment that is required to implement the strategic, integrated, and technology-enabled approaches and advancements (Cappelli, 2008; Hughes & Rog, 2008; McCauley & Wakefield, 2006). The competitive advantage and primary source of any organization is Human Resources and, though these are in short supply, they are becoming an essential asset (Piansoongnern, Anurit, & Kuiyawattananonta, 2011).
Cappelli, P. (2008). Talent management for the twenty-first century. Harvard Business Review, 86(3), 74-81+133.
Holland, P., Sheehan, C., & De Cieri, H. (2007). Attracting and retaining talent: exploring Human Resourcesdevelopment trends in Australia. Human Resource Development International, 10(3), 247-262. doi: 10.1080/13678860701515158
Hutchings, K., De Cieri, H., & Shea, T. (2011). Employee Attraction and Retention in the Australian Resources Sector. Journal of Industrial Relations, 53(1), 83-101. doi: 10.1177/0022185610390299
Hughes, J. C., & Rog, E. (2008). Talent management: A strategy for improving employee recruitment, retention and engagement within hospitality organizations. International Journal of Contemporary Hospitality Management, 20(7), 743-757.
Khan, M. A., Kashif Ur, R., Ijaz Ur, R., Safwan, N., & Ahmad, A. (2011). Modeling link between internal service quality in Human Resourcesmanagement and employees retention: A case of Pakistani privatized and public sector banks. African Journal of Business Management, 5(3), 949-959.
McCauley, C., & Wakefield, M. (2006). Talent Management in the 21st Century: Help Your Company Find, Develop, and Keep its Strongest Workers. Journal for Quality & Participation, 29(4), 4-7.
Piansoongnern, O., Anurit, P., & Kuiyawattananonta, S. (2011). Talent management in Thai cement companies: A study of strategies and factors influencing employee engagement. African Journal of Business Management, 5(5), 1578-1583.