Talent Management: An Empirical Analysis of Its Antecedents and Consequences Applying Structural Equation Modeling
Purpose: Organizations across the globe know that they must have talented people to achieve success in today’s globalized and hyper-competitive economy. There also is the awareness that talent has to be used as an important resource that is required to be managed so that the best possible results can be accomplished. (by Wellins et al., 2009). Talent management requires organizations to first understand the meaning of ‘talent’ and who they regard as ‘the talented’. The present paper analyzes the effect of the antecedents of talent, and also knows what impact the talent has on its consequences.
Design, methodology, and approach: A survey questionnaire including various constituents of talent was designed. In the Banking industry, for selection from both private and public and also for selecting banks in each of these two sectors for the study, a Stratified sampling method was utilized. For the study, the selection of branches from the selected banks (from both sectors) was done using the random selection method. The sample included a total of 300 middle-level employees from the selected banks (from both the public sector and private sectors) in Delhi. During personal visits to all the selected bank branches, the bank staff was requested to fill and share the completed questionnaires as soon as possible. Data collected using a structured questionnaire was analyzed using ‘Exploratory factor analysis (EFA), ‘confirmatory factor analysis (CFA), and ‘Structural equation modeling (SEM).
Findings: The survey mechanism was found to be reliable, suitable, and valid. The exploratory factor analysis revealed the specific factors that have an impact on Talent. The path diagram with regression weights was confirmed through SEM. The three antecedents of talent taken together explained talent to the tune of 96%. Further, a significant positive value of talent with VCL at 86%, SPD at 65%, ENA at 55%, MGT at 33%, and CTD at 19% at a significance level of 0.001 were also reported.
Research limitations: While a lot of care has been taken to get precise results, but due to the risk of ambiguities and misapprehensions on the
part of respondents, there could be some elements of inaccuracy that could have sneaked in.
Practical implications: The results of this study would help organizations to identify the constituents of talent and its consequences. The
the model can be used by Academicians and researchers in measuring the talent quotient and its impact.
Value and Originality: Probably, this study is the first in India to carry out the construct validation of talent to define the antecedents of
Talent as well as its consequences applying structural equation modeling. This study has its value as it facilitates the organizations to
identify the talent quotient of an individual. Also, it helps the organizations to find the impact of talent on creative leadership and spiritual