Original Research
Retention of high-potential employees in a development finance company
Submitted: 04 March 2017 | Published: 28 September 2017
About the author(s)
Lishani Letchmiah, Department of Industrial Psychology and People Management, University of Johannesburg, South AfricaAdèle Thomas, Department of Industrial Psychology and People Management, University of Johannesburg, South Africa
Abstract
Orientation: The loss of high-potential employees was a concern to leaders at a South African development finance company. The research question that guided the study was: How can high-potential employees be retained in the company?
Research purpose: The objective of the study was to identify factors that positively impact the retention of high-potential employees in a development finance company.
Motivation for the study: The organisation that comprised the unit of study had prioritised employee development to retain high-potential employees, thereby aiming to build a strong talent pipeline and a sustainable knowledge base. A prevalent concern was that there were no formal retention programmes for high-potential employees. Accordingly, organisational leaders could benefit from understanding those retention factors that may serve to retain such employees.
Research design, approach and method: A qualitative methodology promoted a deeper understanding of a social problem through a case study. Eleven purposefully chosen highpotential employees provided insights into factors they considered to be important in their retention. A content analysis of the data resulted in clusters of themes that addressed the research objective.
Main findings: The following factors appeared to influence the retention of high-potential employees: leadership and organisational culture, organisational purpose, developmental opportunities, meaningful work and collegiality.
Practical and managerial implications: Leaders in the company should consider factors that could influence the retention of high-potential employees. Such factors should be built into formal retention strategies based on the intrinsic needs of employees; the strengths that the organisational culture provides could be leveraged in this regard.
Contribution: The practical value of the study was the highlighting of the factors that can be leveraged to retain high-potential employees in a development finance company.
Keywords
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