CHALLENGING ROLE OF STRATEGIC TALENT MANAGEMENT, CAREER DEVELOPMENT AND COMPENSATION MANAGEMENT TOWARD EMPLOYEE RETENTION AND ORGANIZATIONAL PERFORMANCE WITH MEDIATING EFFECT OF EMPLOYEE MOTIVATION

Organizational development history reveals that it has ever been a challenge to identify and fathom the role of strategic talent management, career development and compensation management towards employees' retention and organizational performance. Organizations strive hard to measure the impact of all those factors which affect employee retention and organizational performance. Researchers have worked in great deal in order to know the relationship of independent variables i.e. Strategic Talent Management, Career Development and Compensation Management on dependent variables i.e. Employee Retention and Organizational Performance. Employees adorned with latest skills with long lasting loyalty play a significant role towards successful achievement of goals of the organizations. Retention of valuable and resourceful employees for a longer time is equally essential for meeting the set goals. The organizations which spend reasonable chunk of their resources for taking such measures that help to retain their employees through talent management and satisfactory career development always enjoy a competitive edge over their competitors. Human resource is regarded as one of the most precious and difficult resource to management. It has its own needs and requirement. It becomes an easy prey to monotony when lacks career development. Wants and aspirations of this resource are seldom met completely but can be managed through career development and compensation management. In this era of competition, organizations have to take viable steps to management their resources especially human resource. Top management and Managers keep on working for an amenable solution in order to address the challenges relating career development and compensation management as their ultimate goal is to ensure the organizational performance on optimum level. This study was carried out to find the impact of Strategic Talent Management, Career Development and Compensation Management towards Employees Retention and Organizational Performance with mediating effect of Employees Motivation in Service Sector of Pakistan. The current study is based on Resource Based View and Ability Motivation and Opportunity theories which advocate as by enhancing internal resources for employee strategic talent management, career development and compensation management it results in execution of HRM practices for employee motivation and retention enabling an organization to achieve and sustain competitive advantage. Data were collected from the respondents through structured questionnaire which was based upon adopted instruments after establishing reliability and validity tests. A total 300 employees of 27 cancer hospitals of Pakistan were sampled through non-probability sampling technique. Regression analysis revealed that strategic talent management, career development and compensation management have significant positive impact on employee retention and organizational perceived performance. The results further show that employee motivation has a significant mediating effect on employee retention and optimum performance of organization. Findings interpretation, limitations of the study, theoretical as well as managerial implications are also discussed