Talent Management Strategies and Employees’ Retention in Chi Farms Ltd (Ajanla Farm), Oyo State, Nigeria

Abstract

This study examined the analysis of Talent management strategies and employees’ retention among workers of CHI Farms LTD. (Ajanla Farm), Ibadan. In carrying out the research, three hypotheses were generated and were tested using Multiple regression model, Pearson product moment correlation and T – test statistics respectively. The study adopted a descriptive survey design method. A structured questionnaire was used in obtaining data, which was classified into Employee Engagement Scale (EES), Employees’ Retention Scale (ERS), Performance Management Scale (PMS), Compensation Management Scale (CMS), and was administered on 108 respondents. Hypothesis one revealed that there was a contribution of talent management strategies (i.e performance management, compensation and engagement) to employees’ retention (F=43.68, p<.01, R²=.54). Hypothesis two findings showed a significant relationship between performance management and employees’ retention [r(.104)= .46**, p<.01]. Also, the result revealed a significant positive relationship between compensation strategies and employees retention [r(106)=.35**,p<.01]. The result also revealed that a significant positive relationship between engagement and employees’ retention {r(106)=.40**, p<.01} exist. Hypothesis three result revealed that there was a significant difference between male and female respondents on perception of employees’ retention. [t(106)=4.27, p<.01]. The study concluded that performance management, compensation strategy and employees’ engagement are of great importance to talent management and retention. The study therefore recommended that management should formulate and implement policies that promote talent management which will in turn promote employees’ retention, they should also recognize and appreciate employees for work well done and that management should have in – house career development programs to help develop their employees.