Abstract
M.Com. (Human Resources Management)
The ability to retain top- and middle-level managers is seen as a long-term investment for an organisation. Retaining and developing talented top- and middle-level managers with organisation-specific skills and experience leads to a competitive advantage for organisations. This study explores effective retention strategies for top- and middle-level managers and identifies the challenges that HR managers face with regard to retaining top- and middle-level managers.
Current literature relating to employee retention has been criticised for being too general, and providing few recommendations for overcoming the problem to retaining top- and middle-level managers. This study is important because, despite the strong need to retain top- and middle-level managers, HR managers face difficulties in retaining managers due to ineffective retention strategies. Losing talented managers is seen as a long-term cost for organisations.
This study followed a quantitative approach. A questionnaire was developed based on an extensive literature review and a self-administered online questionnaire was distributed to HR managers registered at a professional body. A sample of 97 completed questionnaires being returned. The data were analysed using software for quantitative data, namely SPSS.
The results indicated that the leadership of an organisation and performance management practices are effective retention strategies for top- and middle-level managers, as perceived by HR professionals. Challenges to retaining top- and middle-level managers include job context factors, organisational factors, and employee wellness. In addition, the results suggest that HR managers have more difficulty retaining middle-level managers than top-level managers.
It is clear from this study that HR managers are interested in implementing effective retention strategies due to the rising challenges they face with regard to retaining top- and middle-level managers. This study contributes to knowledge regarding retention strategies and provides insights for HR managers, line managers and leaders of organisations in relation to effective retention strategies and retention challenges.