Impact of Talent Management Practices on Employee Engagement and Employee Retention- A Study at Bokaro Steel Plant

Abstract

As Steel industry is vital to the country’s economic growth, it is important to ensure the smoothness in its operations so that long term growth and development can be achieved with fewer obstacles. Hence, a constant availability of a large pool of talented and experienced people is crucial to carry out these functions. Hiring a qualified and talented workforce and implementing a program to retain these employees is a key component to successful workforce retention. However, one of the challenges of managers in today`s manufacturing sector is how to retain and engage employees. To curb this issue, academic attentions have diverted the focus upon the implementation of talent management practices on both employee engagement and employee retention. This study seeks to determine the relationships between talent management practices (managerial support, employee career development and rewards and recognitions), employee engagement and employee retention within Bokaro Steel Plant(a unit of SAIL) A quantitative study is deployed. The research instrument involved comprised of a questionnaire. A random sampling technique was used for this research. A total of 100 respondents responded valid questionnaires. Data gathered were initially analysed using SPSS version 20.0. Quantitative survey has been done which comprised of twenty four questions and were measured on five point Likert type scale ranging from strongly disagreed to strongly agreed. Data has been analyzed using Factor Analysis and Regression. The findings of based on linear regression analysis indicate talent management practices (managerial support, employee career development and rewards and recognitions) have positive impact with employee engagement and employee retention.