A critical analysis of talent management strategies in driving business growth: A study of manufacturing firms in Nasarawa State
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Background of the Study
Talent management is a critical aspect of organizational success, particularly in industries like manufacturing, where skilled and motivated employees drive operational efficiency and innovation. For manufacturing firms in Nasarawa State, effective talent management strategies are essential for business growth and competitiveness. As the manufacturing sector in Nigeria faces challenges such as poor infrastructure, regulatory issues, and competition from global markets, businesses must focus on developing and retaining a talented workforce to maintain productivity and profitability (Ojo & Akinlolu, 2024).
Talent management strategies encompass a range of practices, including recruitment, training and development, performance management, succession planning, and employee retention (Nguyen & Umar, 2023). These strategies are particularly important in the manufacturing sector, where skilled workers are often in high demand, and the success of a business depends on the availability of capable individuals who can drive production and innovation. However, many manufacturing firms in Nasarawa State struggle to implement effective talent management practices due to resource constraints and a lack of structured frameworks for attracting and retaining skilled employees.
Previous research suggests that organizations with robust talent management systems tend to outperform their competitors in terms of growth, profitability, and employee satisfaction (Ojo & Akinlolu, 2024). However, there is limited research on how manufacturing firms in Nasarawa State implement these strategies and the impact they have on business growth. This study seeks to explore talent management practices in this sector and assess their contribution to business performance.
Statement of the Problem
Manufacturing firms in Nasarawa State are struggling to manage and retain talent, which is essential for driving growth and ensuring long-term success. Despite the importance of talent management, many firms face challenges such as high turnover rates, difficulty attracting skilled workers, and lack of formalized training and development programs. As a result, these firms experience reduced productivity, poor innovation, and limited growth opportunities. This study aims to critically analyze talent management strategies in manufacturing firms in Nasarawa State and their impact on business growth.
Objectives of the Study
1. To assess the talent management strategies employed by manufacturing firms in Nasarawa State.
2. To examine the impact of talent management on business growth and productivity in manufacturing firms in Nasarawa State.
3. To provide recommendations for improving talent management practices to enhance business growth in manufacturing firms in Nasarawa State.
Research Questions
1. What talent management strategies are used by manufacturing firms in Nasarawa State?
2. How do talent management strategies impact business growth and productivity in manufacturing firms in Nasarawa State?
3. What challenges do manufacturing firms in Nasarawa State face in implementing effective talent management strategies?
Research Hypotheses
1. There is a positive relationship between effective talent management strategies and business growth in manufacturing firms in Nasarawa State.
2. Manufacturing firms in Nasarawa State with structured talent management systems experience higher productivity and profitability.
3. Talent retention strategies have a significant impact on the long-term success of manufacturing firms in Nasarawa State.
Scope and Limitations of the Study
This study will focus on manufacturing firms in Nasarawa State, Nigeria, and evaluate their talent management strategies and their impact on business growth. Limitations may include challenges in obtaining data from privately held firms and biases in responses regarding employee satisfaction and retention strategies.
Definitions of Terms
• Talent Management: The process of attracting, developing, retaining, and utilizing skilled employees to meet organizational goals and drive business success (Nguyen & Umar, 2023).
• Business Growth: The increase in a firm's revenue, market share, and profitability over time, often driven by effective talent management, operational efficiency, and innovation (Ojo & Akinlolu, 2024).
• Manufacturing Firms: Businesses involved in the production of goods, often using machinery, labor, and raw materials to create finished products for sale or distribution (Ojo & Akinlolu, 2024).
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Chapter One: Introduction
