STRATEGIES FOR RETAINING TOP TALENTS: MEETING THE EXPECTATIONS OF TALENTED EMPLOYEES IN ORGANIZATIONS

Abstract

This academic paper's primary objective is to conduct a comprehensive analysis of the strategies modern businesses employ to retain their top talent. Using extant academic literature, the article begins by outlining the key characteristics that define talented employees. It then investigates the numerous factors that contribute to the high demand for such individuals in organizations. Following a discussion of talent and its significance, the article examines the obstacles companies face in their efforts to retain their most talented employees. These obstacles are discussed in the context of a rapidly transforming business environment, which includes intensified competition, changing employment expectations, and the growing significance of career advancement opportunities for talented individuals. The article provides a comprehensive comprehension of the obstacles organizations face in retaining talent by synthesizing scholarly insights and empirical research. In addition, the article provides a comprehensive overview and analysis of various strategies organizations can employ to effectively retain their top talent. These strategies, derived from a comprehensive review of academic literature, encompass a variety of aspects, including competitive compensation and benefits packages, fostering a conducive team environment, cultivating a positive and engaging work culture, implementing effective feedback mechanisms, providing ample opportunities for career growth and development, and promoting work-life balance initiatives. Each strategy is examined in detail, explicating their theoretical underpinnings and practical implications for organizations attempting to retain talented employees. This paper seeks to contribute to the existing body of knowledge regarding talent retention by combining academic perspectives and empirical evidence, thereby providing valuable insights for both researchers and practitioners. In addition, it functions as a comprehensive resource for organizational leaders, providing them with practical advice on how to retain and cultivate top talent within their respective organizations.