Analysis of Factors Determining the Implementation of Talent Management

Abstract

The paper deals with the issue of talent management, which is currently an integral part of effective human resource management. Talent management is now at the forefront because human resources, as bearers of knowledge and innovation, represent an irreplaceable business factor and a significant competitive advantage. The paper focuses on the implementation of talent management in terms of selected factors, which are assumed to be a key to the success of implementing talent management practices. Successful implementation of talent management is a prerequisite for achieving the set goals such as the acquisition, effective use and especially the retention of talented employees. The paper also presents the research results. The research aimed to determine whether there are statistically significant relationships between the selected factors and the successful implementation of talent management. The study was carried out on a sample of Slovak business entities, while the initial selection based on the question of whether the business entity has implemented talent management. Initially, out of 345 contacted Slovak business entities, only 58 of them commented positively on the implementation of talent management. The research sample consisted of talented employees of business entities that operate in the Slovak Republic and that have implemented talent management. Subsequently, the managers of these 58 organizations were approached to distribute the questionnaires to the «talented» employees. We received 83 questionnaires. The research subject is selected factors as possible determinants of talent management implementation: the existence of a talent pool; the existence of succession and career development plans; the degree to which the remuneration system is related to the performance of talented employees; support of education and development; support of innovation and creativity in talented employees. The success of the implementation of talent management as a dependent variable was assessed through 5 items using a 1 – 5 scale where a value of 1 represents strong disagreement and a value of 5 strong agreement. The consistency of these items was determined using Cronbach’s alpha. For meeting the aim of the research, 5 statistical hypotheses were tested using the Mann Whitney U test and the Kendall correlation coefficient. It was confirmed that succession planning, the flexibility of the remuneration system concerning the performance of talented employees, training and development support and creativity and innovation support in talented employees could be considered as determinants of successful implementation of talent management. Keywords human resource management, talent management, talent management implementation, talent pool, talented employee.

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