Organizational talent management initiatives and practices in construction industry

Abstract

This study analyses the talent management practices in organizations from the human resource views in the construction industry. Talent management encompasses manpower planning activities, recruitment and selection processes, training and staff development, payroll administration aimed at enabling them to provide effective services to achieve organizational goals. Without proper talent management, an organization will tend to face various problems whether it involves the internal and external affairs of an organization. If the turnover activity has increased as compared to the previous year. This increasing number can be an advantage to those organizations who are at the receiving end of talent acquisition but could spell disasters for the company that keeps losing their best employees to competitors. The objectives of the study are to identify organization talent management initiatives, to determine the impact of talent management practices and strategies, to gather information about recruitment, employee development, and employee retention practices in the construction industry, to explore the differences between organizations with and without specific talent management initiatives in place. The study administrated a (50) set of structures surveyed questionnaire from the random construction industry. The collected data was then analyzed using frequency distribution analysis and the average index method. The results are categorized according to the level of satisfaction or agreement and presented in the table and figures for easy interpretation. The results of the study show that large companies (500 or more employees) are more inclined to have talent management initiatives in place compared to small and medium organizations. The results also show that respondents agree that talent management has its impact on them (mean score 3.8 and above) with the top impact of that initiative would create an environment where employees’ ideas are listened to and valued. However, there are no significant differences in these impacts between the organization with specific talent management initiatives in place and organization without one on the impact of talent management initiatives in place. The study also found that more than 80% of the respondent said that their organization has a formal budget for retention, developing and retaining its employees with 60.8% of the respondents predicted it to increase in the span of three years. Finally, there are huge differences between organizations with and without talent initiatives in place on the adequacy of the organization in preparing its or mid-level employees to step into senior leadership positions (73%), organizational with formal budget for recruitment (52.4%), further developing employees (47.6%) and retaining employees (48%). In conclusion, although the findings reveal that the majority of organizations have specific talent management initiatives in place, there are no significant differences as to perceived impact the talent management initiatives would have on their organizations. However, those with talent management initiatives in place have a more positive attitude toward their organization on the matter of recruiting, developing and retaining its employees.