In-depth exploration of talent management strategies within banking environments

Syed Shahid Raza; Shreya Mathur; Varsha Agarwal; Garima Srivastava; Mithhil Arora

doi:10.31893/multirev.2023ss096

Keywords:

Talent Management

Organizational Resilience

Recruitment and Retention

Talent Acquisition

Recruitment Strategies

Abstract

The banking industry, marked by dynamic market conditions and evolving customer expectations, encounters distinctive challenges in talent management. Talent management, covering recruitment, development, and retention, plays a crucial role in ensuring the competitiveness of banks. This research conducts an in-depth exploration of talent management strategies in banking environments to unveil the nuances contributing to organizational success. The primary objective is to investigate and assess the effectiveness of talent management strategies by banks to attract, nurture and retain skilled professionals. The paper examines relevant publications, utilizing a methodological approach that spans from 2018 to 2023. Data are extracted from scientific literature databases to ensure a comprehensive analysis. The findings indicate heightened academic interest in talent management within the banking sector, emphasizing the urgent need for further research. The paper provides valuable insights for academia and the banking sector, serving as a foundation for future Data-driven research on talent management and hiring strategies in the banking industry and the broader financial domain.
References
1. Al Aina, R., & Atan, T. (2020). The impact of implementing talent management practices on sustainable organizational performance. Sustainability, 12(20), 8372. 10.3390/su12208372
2. Alhajjar, A., Kassim, R. N. M., & Alnachef, T. (2019). Talent Management, Reward System, Employee Commitment And Bank Performance. International Journal of the Humanities, 7(5), 101-113.
3. Ali, N. A. M., & Kasim, N. (2019). Talent management for Shariah auditors: case study evidence from the practitioners. International Journal of Financial Research, 10(3), 252-266. 10.5430/ijfr.v10n3p252
4. Aman, Q., Noreen, T., Khan, I., Ali, R., & Yasin, A. (2018). The impact of human resource management practices on innovative ability of employees moderated by organizational culture. International Journal of Organizational Leadership, 7, 426-439.
5. CHAUDHRY, S., & Babin Dhas, D. (2020). Talent Management Practices in Service Sector: Evidences from Literature Review. International Journal of Pharmaceutical Research (09752366). 10.1108/IJPPM-05-2020-0231
6. Collings, D. G., Mellahi, K., & Cascio, W. F. (2019). Global talent management and performance in multinational enterprises: A multilevel perspective. Journal of management, 45(2), 540-566. 10.1177/0149206318757018
7. Dang, N. T. T., Nguyen, Q. T., Habaradas, R., Ha, V. D., & Nguyen, V. T. (2020). Talent conceptualization and talent management approaches in the Vietnamese banking sector. The Journal of Asian Finance, Economics and Business, 7(7), 453-462.
8. Dang, N., Nguyen, Q., & Ha, V. (2020). The relationship between talent management and talented employees’ performance: Empirical investigation in the Vietnamese banking sector. Management Science Letters, 10(10), 2183-2192. 10.5267/j.msl.2020.3.018
9. De Sousa Sabbagha, M., Ledimo, O., & Martins, N. (2018). Predicting staff retention from employee motivation and job satisfaction. Journal of Psychology in Africa, 28(2), 136-140. 10.1080/14330237.2018.1454578
10. Glaister, A. J., Al Amri, R., & Spicer, D. P. (2021). Talent management: Managerial sense making in the wake of Omanization. The International Journal of Human Resource Management, 32(3), 719-737. 10.1080/09585192.2018.1496128
11. Hosen, S., Islam, M. A., Arshad, M. M., Khan, A. M., & Alam, M. K. (2018). Talent management: An escalating strategic focus in Bangladeshi banking industry. International Journal of Academic Research in Business and Social Sciences, 8(1), 156-166. 10.6007/IJARBSS/v8-i1/3801
12. Hutt, C., & Gopalakrishnan, S. (2020). Leadership humility and managing a multicultural workforce. South Asian Journal of Business Studies, 9(2), 251-260. 10.1108/SAJBS-08-2019-0147
13. Ibrahim, R., & AlOmari, G. (2020). The effect of talent management on innovation: Evidence from Jordanian Banks. Management Science Letters, 10(6), 1295-1306. 10.5267/j.msl.2019.11.028
14. Kamil, B. A. M., Yahya, K. K., Salleh, M. C. M., & Iqbal, F. I. (2018). Talent Development and Retention from the Bankersâ€™ Perspectives: A Study at Islamic Banks in Malaysia. The Journal of Social Sciences Research, 161-166.
15. Kravariti, F., Tasoulis, K., Scullion, H., & Alali, M. K. (2023). Talent management and performance in the public sector: the role of organisational and line managerial support for development. The International Journal of Human Resource Management, 34(9), 1782-1807. 10.1080/09585192.2022.2032265
16. Meyers, M. C., van Woerkom, M., Paauwe, J., & Dries, N. (2020). HR managers’ talent philosophies: prevalence and relationships with perceived talent management practices. The International Journal of Human Resource Management, 31(4), 562-588.
17. Lukman, J. A., & Kee, D. M. H. (2020). Talent retention and job performance: the mediating role of perceived organizational support. Journal of Critical Reviews, 7(16), 396-404.
18. Mangion-Thornley, K. (2021). Coaching in the context of talent management: an ambivalent practice. International Journal of Evidence Based Coaching and Mentoring, (S15), 4-19. 10.24384/dkvw-da37
19. NAKWEYA, M. C., PASS, S., MITSAKIS, F., & CAVEN, V. (2022). Line Managers’ Involvement in Talent Management: The Case of a Malawian Bank. Leadership Management & Talent Development, 6.
20. Noreen, U., & Imran, R. (2021). Impact of talent management practices on financial performance: Evidence from GCC banking sector. Middle East Journal of Management, 8(2-3), 113-124. 10.1504/MEJM.2021.113977
21. Racolța-Paina, N. D., & ClaudiaBucur, A. (2019). The talent management struggle in the banking sector–efforts and achievements. The case of a commercial bank from Romania. Contemporary Research on Organization Management and Administration, 7(1), 58-73. 10.33605/croma-012019-005
22. Rawashdeh, A. M. (2018). The impact of talent management strategies on bank performance in Jordanian commercial banks. Modern Applied Science, 12(12), 49-56.10.5539/mas.v12n12p49
23. Santoso, W., Sitorus, P. M., Batunanggar, S., Krisanti, F. T., Anggadwita, G., & Alamsyah, A. (2021). Talent mapping: a strategic approach toward digitalization initiatives in the banking and financial technology (FinTech) industry in Indonesia. Journal of Science and Technology Policy Management, 12(3), 399-420. 10.1108/JSTPM-04-2020-0075
24. Sehatpour, M. H., Abedin, B., & Kazemi, A. (2022). Talent management in government organizations: Identification of challenges and ranking the solutions to address them. International Journal of Productivity and Performance Management, 71(4), 1444-1468. 10.1108/IJPPM-05-2020-0231
25. Singh, A. K., & Sabharwal, S. (2020). Talent management: An empirical analysis of its antecedents and consequences applying structural equation modeling. PURUSHARTHA-A journal of Management, Ethics and Spirituality, 13(2), 1-16.
26. Thanh, N. D. T., Nguyen, Q., Habaradas, R., & Ha, V. D. (2020). The conceptualization of talent and talent management within the banking sector in southern Vietnam. IBIMA Business Review, 963281. 10.5171/2020.963281
27. Wadhwa, S., & Tripathi, R. (2018). Driving employee performance through talent management. International Journal of Environment, Workplace and Employment, 4(4), 288-313. 10.1504/IJEWE.2018.093412
28. Wang, C. H. (2018). To relocate internationally or not to relocate internationally: A Taiwanese case study. Journal of Global Mobility: The Home of Expatriate Management Research, 6(2), 226-240. 10.1108/JGM-12-2017-0050
29. Yazdanshenas, M. (2019). Promoting human capital through talent management practices: Contextual role of psychological contracts. Kasetsart Journal of Social Sciences, 40(3), 718-726.
30. Zafar, Q., Haider, S. N., Janjua, Q. R., Qureshi, A. H., Ashraf, H. A., Ali, A., & Mutupha, J. F. (2023). Nexus of Employees Engagement between Talent Management and Career Development. Russian Law Journal, 11(4).

This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

How to cite

Raza, S. S., Mathur, S., Agarwal, V., Srivastava, G., & Arora, M. (2024). In-depth exploration of talent management strategies within banking environments. Multidisciplinary Reviews, 6, 2023ss096. https://doi.org/10.31893/multirev.2023ss096

[1] Al Aina, R., & Atan, T. (2020). The impact of implementing talent management practices on sustainable organizational performance. Sustainability, 12(20), 8372. 10.3390/su12208372

[2] Alhajjar, A., Kassim, R. N. M., & Alnachef, T. (2019). Talent Management, Reward System, Employee Commitment And Bank Performance. International Journal of the Humanities, 7(5), 101-113.

[3] Ali, N. A. M., & Kasim, N. (2019). Talent management for Shariah auditors: case study evidence from the practitioners. International Journal of Financial Research, 10(3), 252-266. 10.5430/ijfr.v10n3p252

[4] Aman, Q., Noreen, T., Khan, I., Ali, R., & Yasin, A. (2018). The impact of human resource management practices on innovative ability of employees moderated by organizational culture. International Journal of Organizational Leadership, 7, 426-439.

[5] CHAUDHRY, S., & Babin Dhas, D. (2020). Talent Management Practices in Service Sector: Evidences from Literature Review. International Journal of Pharmaceutical Research (09752366). 10.1108/IJPPM-05-2020-0231

[6] Collings, D. G., Mellahi, K., & Cascio, W. F. (2019). Global talent management and performance in multinational enterprises: A multilevel perspective. Journal of management, 45(2), 540-566. 10.1177/0149206318757018

[7] Dang, N. T. T., Nguyen, Q. T., Habaradas, R., Ha, V. D., & Nguyen, V. T. (2020). Talent conceptualization and talent management approaches in the Vietnamese banking sector. The Journal of Asian Finance, Economics and Business, 7(7), 453-462.

[8] Dang, N., Nguyen, Q., & Ha, V. (2020). The relationship between talent management and talented employees’ performance: Empirical investigation in the Vietnamese banking sector. Management Science Letters, 10(10), 2183-2192. 10.5267/j.msl.2020.3.018

[9] De Sousa Sabbagha, M., Ledimo, O., & Martins, N. (2018). Predicting staff retention from employee motivation and job satisfaction. Journal of Psychology in Africa, 28(2), 136-140. 10.1080/14330237.2018.1454578

[10] Glaister, A. J., Al Amri, R., & Spicer, D. P. (2021). Talent management: Managerial sense making in the wake of Omanization. The International Journal of Human Resource Management, 32(3), 719-737. 10.1080/09585192.2018.1496128

[11] Hosen, S., Islam, M. A., Arshad, M. M., Khan, A. M., & Alam, M. K. (2018). Talent management: An escalating strategic focus in Bangladeshi banking industry. International Journal of Academic Research in Business and Social Sciences, 8(1), 156-166. 10.6007/IJARBSS/v8-i1/3801

[12] Hutt, C., & Gopalakrishnan, S. (2020). Leadership humility and managing a multicultural workforce. South Asian Journal of Business Studies, 9(2), 251-260. 10.1108/SAJBS-08-2019-0147

[13] Ibrahim, R., & AlOmari, G. (2020). The effect of talent management on innovation: Evidence from Jordanian Banks. Management Science Letters, 10(6), 1295-1306. 10.5267/j.msl.2019.11.028

[14] Kamil, B. A. M., Yahya, K. K., Salleh, M. C. M., & Iqbal, F. I. (2018). Talent Development and Retention from the Bankersâ€™ Perspectives: A Study at Islamic Banks in Malaysia. The Journal of Social Sciences Research, 161-166.

[15] Kravariti, F., Tasoulis, K., Scullion, H., & Alali, M. K. (2023). Talent management and performance in the public sector: the role of organisational and line managerial support for development. The International Journal of Human Resource Management, 34(9), 1782-1807. 10.1080/09585192.2022.2032265

[16] Meyers, M. C., van Woerkom, M., Paauwe, J., & Dries, N. (2020). HR managers’ talent philosophies: prevalence and relationships with perceived talent management practices. The International Journal of Human Resource Management, 31(4), 562-588.

[17] Lukman, J. A., & Kee, D. M. H. (2020). Talent retention and job performance: the mediating role of perceived organizational support. Journal of Critical Reviews, 7(16), 396-404.

[18] Mangion-Thornley, K. (2021). Coaching in the context of talent management: an ambivalent practice. International Journal of Evidence Based Coaching and Mentoring, (S15), 4-19. 10.24384/dkvw-da37

[19] NAKWEYA, M. C., PASS, S., MITSAKIS, F., & CAVEN, V. (2022). Line Managers’ Involvement in Talent Management: The Case of a Malawian Bank. Leadership Management & Talent Development, 6.

[20] Noreen, U., & Imran, R. (2021). Impact of talent management practices on financial performance: Evidence from GCC banking sector. Middle East Journal of Management, 8(2-3), 113-124. 10.1504/MEJM.2021.113977

[21] Racolța-Paina, N. D., & ClaudiaBucur, A. (2019). The talent management struggle in the banking sector–efforts and achievements. The case of a commercial bank from Romania. Contemporary Research on Organization Management and Administration, 7(1), 58-73. 10.33605/croma-012019-005

[22] Rawashdeh, A. M. (2018). The impact of talent management strategies on bank performance in Jordanian commercial banks. Modern Applied Science, 12(12), 49-56.10.5539/mas.v12n12p49

[23] Santoso, W., Sitorus, P. M., Batunanggar, S., Krisanti, F. T., Anggadwita, G., & Alamsyah, A. (2021). Talent mapping: a strategic approach toward digitalization initiatives in the banking and financial technology (FinTech) industry in Indonesia. Journal of Science and Technology Policy Management, 12(3), 399-420. 10.1108/JSTPM-04-2020-0075

[24] Sehatpour, M. H., Abedin, B., & Kazemi, A. (2022). Talent management in government organizations: Identification of challenges and ranking the solutions to address them. International Journal of Productivity and Performance Management, 71(4), 1444-1468. 10.1108/IJPPM-05-2020-0231

[25] Singh, A. K., & Sabharwal, S. (2020). Talent management: An empirical analysis of its antecedents and consequences applying structural equation modeling. PURUSHARTHA-A journal of Management, Ethics and Spirituality, 13(2), 1-16.

[26] Thanh, N. D. T., Nguyen, Q., Habaradas, R., & Ha, V. D. (2020). The conceptualization of talent and talent management within the banking sector in southern Vietnam. IBIMA Business Review, 963281. 10.5171/2020.963281

[27] Wadhwa, S., & Tripathi, R. (2018). Driving employee performance through talent management. International Journal of Environment, Workplace and Employment, 4(4), 288-313. 10.1504/IJEWE.2018.093412

[28] Wang, C. H. (2018). To relocate internationally or not to relocate internationally: A Taiwanese case study. Journal of Global Mobility: The Home of Expatriate Management Research, 6(2), 226-240. 10.1108/JGM-12-2017-0050

[29] Yazdanshenas, M. (2019). Promoting human capital through talent management practices: Contextual role of psychological contracts. Kasetsart Journal of Social Sciences, 40(3), 718-726.

[30] Zafar, Q., Haider, S. N., Janjua, Q. R., Qureshi, A. H., Ashraf, H. A., Ali, A., & Mutupha, J. F. (2023). Nexus of Employees Engagement between Talent Management and Career Development. Russian Law Journal, 11(4).

Abstract

References

How to cite