THE MAJOR BARRIERS IN RETAINING TALENTS IN DEVELOPING COUNTRIES – FROM THE PERSPECTIVE OF SUCCESSFUL MANAGERS
THE MAJOR BARRIERS IN RETAINING TALENTS IN DEVELOPING COUNTRIES – FROM THE PERSPECTIVE OF SUCCESSFUL MANAGERS

Summary/Abstract: The purpose of this study was to locate what are the core reasons, from the talented managers perspective, why do the brilliant employees leave their current job positions in the developing countries, such as Bosnia and Herzegovina, in order to work for another appealing firm or abroad. Many thriving firms ordinarily invest quite a lot of money in advancing their splendid employee's skills, capabilities and knowledge through distinct business educations, which afterwards return to the company by magnifying its outcomes (productivity, profitability and net revenues). Methodology in this research article included a befitting questionnaire on the prime internal challenges which are facing talented managers in Bosnia and Herzegovina, and an interview with few managers on the crucial external obstacles. The results from questionnaire displayed that talents leave companies in Bosnia and Herzegovina for the next top three reasons: a poorly paid job that is hard for family support; constant work under stress; and unskilled and incompetent people on key job positions which give them the power to make important decisions. When it comes to interview, managers on strategic level gave some interesting observations about external obstacles in retaining talents in firms like: uncertain political situation; undeveloped value system - no rule of law (no equal rights for everyone) and lengthy court proceedings for the honest firms and leaders who have no membership in political parties. This study is useful in miscellaneous ways: it uncovers giant problems in developing countries concerning top talented employees' turnover and proposes plausible and achievable solutions how to overcome it especially on micro enterprise level.

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