The Importance of Talent Management in a Changing Retail Business Banking Work Environment

This study assesses the importance of talent management in the constantly changing world of working. The talent management concept is deemed the cornerstone in human resource management studies as it covers different features of human resources by polishing employees’ skills and expertise with different methods. The world of working has changed; the working environment, characterised by volatility, uncertainty, complexity and ambiguity (VUCA). has impacted how large organisations manage their talent programmes. Markets are volatile and the rand is being levigated. Whilst Talent Management has always been critical to organisational success regardless of the economic climate, it becomes even more critical during difficult times as organisations need to do more with less. The study was undertaken in a prominent retail business banking institution in South Africa. A sample of 196 employees in Analytics was drawn using simple random sampling. Data was collected using interviews and a self-designed questionnaire whose psychometric properties were statistically assessed. The researcher used a case study research strategy, underpinned by exploratory and descriptive approaches with data analysis using descriptive and inferential statistics. Whilst significant differences regarding the importance of talent management based on biographical profiles was noted, employees highly rated the importance of talent management.