Effects of Talent Management Components on the Employee Satisfaction

Abstract

Although talent management is a new concept for increasing employee satisfaction and firm performance, it is rapidly becoming of great value for academics and managers. This study explores talent management components such as leadership techniques, management capabilities, advanced management and systems creation approaches, advanced management techniques, efforts to increase inclusiveness, reward systems, performance appraisal systems, and employee selection criteria. It addresses their effects on modern companies' human resources and considers them as major factors supporting sustainable competitive advantages. Also, it delves into existing literature on the effects of talent management practices, which affect one of the vital pillars of companies: the human factor. To achieve its aims, it employs a 53-question survey with seven sub-categories related to employee satisfaction considering a database of 201 survey results from financial services industry. As a result, it finds that effective talent management practices have important influences on human resources, which is the most critical element in a company's survival. Fair and trustworthy performance appraisal systems and management performance appraisals of employees are key activities for enhancing employee feelings of trust and belonging to a company, as well as employee satisfaction in the financial services industry.