The link between talent management practices, succession planning and corporate strategy among commercial banks in Kenya

Abstract

Competition for market share is driving businesses to differentiate and innovate. One critical way of achieving this positioning the organizations to be ready to meet the future business demands, which can be efficiently handled through talent management. Talent management is gaining popularity as a significant predictor of employee and business performance. It refers to integration of new workers, developing and retaining existing workers as well as attracting experienced and qualified persons to work for organisation. There is limited academic research on talent management in banking sector. This study examines the talent management practices and the extent to which Talent Management is linked to succession planning and business strategy. The Talent Management practices have been examined through data collection among banks operating in Kenya. Qualitative and quantitative techniques were used for data analysis. The results of the research revealed a significant relationship between Talent management practices, succession planning and overall organization strategy. The implications of research findings for researchers and practitioners are discussed and the suggestions have also been provided.