THE EFFECT OF TALENT MANAGEMENT ON EMPLOYEE RETENTION: EVIDENCE FROM EMZOR PHARMACEUTICAL INDUSTRY, LAGOS, NIGERIA
THE EFFECT OF TALENT MANAGEMENT ON EMPLOYEE RETENTION: EVIDENCE FROM EMZOR PHARMACEUTICAL INDUSTRY, LAGOS, NIGERIA

Summary/Abstract: Managing talent in a global organization has become paramount for business growth and survival in the challenging competitive environment. Pharmaceutical business in the current century requires high trust and quality manpower in delivery of products to customers whose demand are always changing in accordance with the prescriptions of medical experts in the health sector. The objective of this paper is to examine the effect of talent management on employee retention in Pharmaceutical industry, Lagos, Nigeria. The study adopted a descriptive survey design. The population of study comprised of 750 EMZOR staff in Lagos while the sample size of 254 was determined through the Kreijcie & Morgan formula. The study instrument is a questionnaire that consists of two constructs: learning & motivation and compensation. Ordinary Least Squares Regressions was used to analyze the formulated hypotheses. The result revealed that learning, motivation and compensation have a significant impact on employee retention at (R=0.938, R2 =0.879, P (0.000)<0.5) this indicates that there is 88% variation in employee retention and ((R=0.780, R2=0.609, P (0.000) <0.5). This implies there is 60.9% of variation in employee retention. The study concluded that learning, motivation and compensation have significant effect on employee retention in EMZOR Pharmaceutical Industry. Therefore, it is recommended that the management of Pharmaceutical industry should be adaptive and proactive with their talent hunts by ensuring that talented employees are effectively utilized, motivated, compensated and retained in the organization.

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