Selection and retention of talent

Abstract

Selecting and retaining talented employees has become one of the key challenges for local and global companies and finding the right talent in a pool of interested applicants is an ongoing challenge. After a decision has been taken on who to hire, the next aim is to retain that talent within the organisation. With employees being considered as valuable resources that play a vital role in a company's competitive advantage, human resource departments now play a key role in finding and keeping the best and the brightest. The purpose of this paper is to gain insight into recruitment and retention practices among Icelandic organisations. A qualitative study was carried out, with interviews conducted with ten individuals working in human resources in Iceland. The results indicate that among these individuals, emphasis was placed on developing employees from within and, as a result, on internal recruitment. In relation to retention, measuring job satisfaction and the role of managers were also found to be key variables. The results further emphasise the importance of having qualified managers who can conduct regular performance reviews and identify key talent.