Impact of talent management processes on organizational productivity in the banking industry.

Abstract

This study centred on exploring the influence of talent and its administration on the functioning of employees of the Nedbank Division of Private Wealth in the Western Cape Province, as well as the organisational retention strategies put in place. The main problem revolved around the inability of the Banking sector in the country, the Nedbank Wealth Cluster inclusive to entice, accomplish and preserve talented workers that perform effectively, exacerbating the encounters of overall organisational productivity. The principal determination of the case study was to identify the retention strategies that were previously being utilised at Nedbank Wealth Cluster; to determine the impact of talent management on worker productivity; to unearth other aspects that could contribute in conducing the enhanced worker productivity and to suggest what improvements could be made on the strategies to retain workers. This research used quantitative design. The intended audience for this case study comprised of workers that qualified for some career development in various professions of Nedbank Wealth in the Western Cape which had 2032 workers. The respondents were personally served with the questionnaire by the researcher. Upon completion, the researcher collected back 300 questionnaires that constituted a 93% response rate. Data was analysed and the statistical results were represented in frequency tables and bar charts. The outcome of the case study revealed that talent management had an influence on the performance of workers at Nedbank Wealth in the Western Cape Province. The results also indicated that a strong correlation existed between retention strategies and talent management at the Division. The study recommends that Nedbank Wealth Cluster in the Western Cape needs to regularly and adequately train its workers; update and improve the retention strategies; revise its personnel policies; adequately resource employees; and reward them for high performance. Suggestions for further future studies concluded the study.