Impact of talent management on employee retention: A study carried out on travel agency in Sri Lanka

Abstract

In this competitive business environment, an organization must need to consider more on invest in human talent or human capital (knowledge, skills, and capabilities). Therefore, HR manager work intimately with senior level managers to recruit, attract, develop and retain their top talented employees within the organization. However, this competitive economy and lack of trained employees prompt financial and social difficulties as talent cross borders. As a result of that the, trend of Talent Management was implemented by many HR managers to their organization. Accordingly, Talent Management practices in three different dimensions (a) day to day workforce practices, (b) a common flow of HR all over the organization, and (c) founding, developing and rewarding the talent (Lewis and Heckman, 2006). Therefore, this study was conducted to investigate the role of Talent Management and its impact on employee retention. In order to do so, the author designed the sample size of the selective organization, comprised of all the employees in 2015/2016. Thereafter, designed the questionnaires and conducted a face to face interview with the manager of the chosen organization. Thereafter, based on collected primary data, the findings, and analysis chapter was designed and justified by the key literature which was discussed by many authors. As a final point, in conclusion, the author sum up the study with appropriate recommendations for the limitations.