Retention of high-potential employees in a development finance company
- Letchmiah, Lishani, Thomas, Adèle
- Authors: Letchmiah, Lishani , Thomas, Adèle
- Date: 2017
- Language: English
- Type: Article
- Identifier: http://hdl.handle.net/10210/244151 , uj:25246 , Citation: Letchmiah, L. & Thomas, A. 2017. Retention of high-potential employees in a development finance company. SA Journal of Human Resource Management/SA Tydskrif vir Menslikehulpbronbestuur, 15(0), a924. https://doi.org/10.4102/sajhrm.v15i0.924 , ISSN: 2071-078X (Online) , ISSN: 1683-7584 (Print)
- Description: Abstract: The loss of high-potential employees was a concern to leaders at a South African development finance company. The research question that guided the study was: How can high-potential employees be retained in the company? Research purpose: The objective of the study was to identify factors that positively impact the retention of high-potential employees in a development finance company. Motivation for the study: The organisation that comprised the unit of study had prioritised employee development to retain high-potential employees, thereby aiming to build a strong talent pipeline and a sustainable knowledge base. A prevalent concern was that there were no formal retention programmes for high-potential employees. Accordingly, organisational leaders could benefit from understanding those retention factors that may serve to retain such employees.
- Full Text:
- Authors: Letchmiah, Lishani , Thomas, Adèle
- Date: 2017
- Language: English
- Type: Article
- Identifier: http://hdl.handle.net/10210/244151 , uj:25246 , Citation: Letchmiah, L. & Thomas, A. 2017. Retention of high-potential employees in a development finance company. SA Journal of Human Resource Management/SA Tydskrif vir Menslikehulpbronbestuur, 15(0), a924. https://doi.org/10.4102/sajhrm.v15i0.924 , ISSN: 2071-078X (Online) , ISSN: 1683-7584 (Print)
- Description: Abstract: The loss of high-potential employees was a concern to leaders at a South African development finance company. The research question that guided the study was: How can high-potential employees be retained in the company? Research purpose: The objective of the study was to identify factors that positively impact the retention of high-potential employees in a development finance company. Motivation for the study: The organisation that comprised the unit of study had prioritised employee development to retain high-potential employees, thereby aiming to build a strong talent pipeline and a sustainable knowledge base. A prevalent concern was that there were no formal retention programmes for high-potential employees. Accordingly, organisational leaders could benefit from understanding those retention factors that may serve to retain such employees.
- Full Text:
The retention of high performing employees in the development finance industry
- Authors: Letchmiah, Lishani
- Date: 2017
- Subjects: Employee retention , Financial institutions
- Language: English
- Type: Masters (Thesis)
- Identifier: http://hdl.handle.net/10210/225743 , uj:22807
- Description: M.Phil. , Abstract: Talent management has become increasingly popular within the field of Human Resource Management (Chambers, Foulon, Handfield-Jones, Hankin & Michaels, 1998). Many organisations are losing talented, high potential employees to competitors and big corporations (Castellano, 2013). The development finance industry plays a vital role in the development and growth of a developing country like South Africa (Qobo & Soko, 2015). While there are best practice guidelines on talent retention, there was a need to understand the factors which retain high performing employees within a development finance organisation in South Africa. The objective of this study was to understand what factors influence the retention of high performing employees in a development finance company. To do this it was important to understand the need for retention and the characteristics of a high potential employee within the organisation. A qualitative research methodology was used and the study was designed in a two-phased approach. The first phase aimed to understand why retention was important and what the characteristics of a high potential employee were considered important within the organisation. The participants for Phase One included two executives in the organisation. Phase Two of the study addressed the factors which influenced the retention of high performing employees. Eleven participants comprised the purposively selected sample and were chosen based on information obtained from Phase One. Content analysis was conducted highlighting themes and categories that evolved organically and which assisted the researcher in answering the main research question. The study contributes to understanding what factors influence retention. Specifically, leadership, organisational purpose, developmental opportunities, meaningful work, the work organisational culture and a focus on collegiality. Recommendations are made to assist Human Resource Practitioners in designing retention strategies which...
- Full Text:
- Authors: Letchmiah, Lishani
- Date: 2017
- Subjects: Employee retention , Financial institutions
- Language: English
- Type: Masters (Thesis)
- Identifier: http://hdl.handle.net/10210/225743 , uj:22807
- Description: M.Phil. , Abstract: Talent management has become increasingly popular within the field of Human Resource Management (Chambers, Foulon, Handfield-Jones, Hankin & Michaels, 1998). Many organisations are losing talented, high potential employees to competitors and big corporations (Castellano, 2013). The development finance industry plays a vital role in the development and growth of a developing country like South Africa (Qobo & Soko, 2015). While there are best practice guidelines on talent retention, there was a need to understand the factors which retain high performing employees within a development finance organisation in South Africa. The objective of this study was to understand what factors influence the retention of high performing employees in a development finance company. To do this it was important to understand the need for retention and the characteristics of a high potential employee within the organisation. A qualitative research methodology was used and the study was designed in a two-phased approach. The first phase aimed to understand why retention was important and what the characteristics of a high potential employee were considered important within the organisation. The participants for Phase One included two executives in the organisation. Phase Two of the study addressed the factors which influenced the retention of high performing employees. Eleven participants comprised the purposively selected sample and were chosen based on information obtained from Phase One. Content analysis was conducted highlighting themes and categories that evolved organically and which assisted the researcher in answering the main research question. The study contributes to understanding what factors influence retention. Specifically, leadership, organisational purpose, developmental opportunities, meaningful work, the work organisational culture and a focus on collegiality. Recommendations are made to assist Human Resource Practitioners in designing retention strategies which...
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