Talent Attraction and Retention in the Context of Strategic Talent Management
Chapter from the book:
Kılıç Özkaynar,
G.
&
Gürler,
G.
(eds.)
2024.
Current Management Practices.
Synopsis
In today's business environment, attracting and retaining talented people has become a strategic priority that contributes to businesses in gaining competitive advantage. In this process, building a strong employer brand is of great importance. Employer branding is one of the most important elements that influence how potential employees perceive the organization and how attractive they find it to work there. Corporate websites, professional networks, job postings and social media platforms are tools through which businesses can effectively present their employer brand. Potential employees use these platforms to evaluate the organizational culture, values and human resources policies of businesses, and then gravitate towards the workplaces they find attractive for them. In addition to talent attraction, talent retention is just equally important. In today's dynamic business environment, organizations have to develop talent retention strategies as career changes are becoming more prevalent. Investments in hired talent (training, mentoring and development programs) are costly and time-consuming. Therefore, talent retention is of great importance as well. This study examines talent attraction and retention from a strategic talent management perspective and reveals its importance and contributions for organizations. After explaining the key factors and strategies influencing talent attraction and retention, recommendations for businesses and future research are presented.