A Review of Contemporary Theories on Talent Retention Management

Abstract

Retaining talent is perhaps the most complicated and challenging task
for any type of organization. The present study attempts to review extensive
literature regarding talent retention management and thereby develop a
conceptual framework on this emerging topic. This qualitative research, which
is primarily based on secondary information, tries to develop evocative
substances from previous studies made locally and internationally. Talent
retention is an imperative since organizational sustenance and growth can only
be achieved by committed and loyal workforce. Among a number of factors,
attractive pay, career growth opportunities, work-family balance, and fringe
benefit systems have been found to be more influential determinants of talent
retention. It has been seen that under certain circumstances organization gets it
quite difficult to keep talent. Finally, a conceptual model has been
hypothetically developed which shows that if talent can be retained, it will result
in improved productivity, greater profitability, and enhanced customer
satisfaction.