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Generational challenges to talent management: A framework for talent retention based on the psychological-contract perspective

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  • Festing, Marion
  • Schäfer, Lynn

Abstract

In this conceptual paper, we adopt a social-exchange theory perspective to explain the impact of talent management (TM) on the psychological contract and its outcomes. This relationship is supposedly moderated by generational effects and associated differences in work-related values and preferences. Thus, often-neglected individual-level variables are included in the analysis. A framework and testable propositions are provided. As a result, we propose that in contexts where a war for talent prevails, the strong interest of Generations X and Y in training, development, and career advancement makes highly engaged and extensive TM activities even more crucial for retaining talented individuals than is the case for the so-called Baby Boomer generation.

Suggested Citation

  • Festing, Marion & Schäfer, Lynn, 2014. "Generational challenges to talent management: A framework for talent retention based on the psychological-contract perspective," Journal of World Business, Elsevier, vol. 49(2), pages 262-271.
    • Handle: RePEc:eee:worbus:v:49:y:2014:i:2:p:262-271
    DOI: 10.1016/j.jwb.2013.11.010
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    Cited by:

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    2. Mostafa Mohamed Ahmed AlKerdawy, 2016. "The Relationship between Human Resource Management Ambidexterity and Talent Management: The Moderating Role of Electronic Human Resource Management," International Business Research, Canadian Center of Science and Education, vol. 9(6), pages 80-94, June.
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    6. Laura Cismaru & Ray Iunius, 2019. "Bridging the Generational Gap in the Hospitality Industry: Reverse Mentoring—An Innovative Talent Management Practice for Present and Future Generations of Employees," Sustainability, MDPI, vol. 12(1), pages 1-38, December.
    7. Susan Kirk, 2021. "Sticks and Stones: The Naming of Global Talent," Work, Employment & Society, British Sociological Association, vol. 35(2), pages 203-220, April.
    8. Charbel El Ammar, 2021. "Talent Management Philosophy in Public Sector: A Key for Managing Conflicts and Contradictions," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 8, pages 69-92.
    9. James Kwame Mensah, 2019. "Talent Management and Employee Outcomes: A Psychological Contract Fulfilment Perspective," Public Organization Review, Springer, vol. 19(3), pages 325-344, September.
    10. Khalil Aït Saïd & Youssef Souak & Warda Azaghouagh-El Fardi, 2023. "Is Talent Manager the New Job Title for Human Resources Manager?," Post-Print hal-04471478, HAL.
    11. Samuel Adams & Fanny Adams Quagrainie & Edem Kwame Mensah Klobodu, 2014. "Psychological contract formation: The influence of demographic factors," International Area Studies Review, Center for International Area Studies, Hankuk University of Foreign Studies, vol. 17(3), pages 279-294, September.
    12. Lung-Hsin Lin & Kung-Jeng Wang, 2022. "Talent Retention of New Generations for Sustainable Employment Relationships in Work 4.0 Era—Assessment by Fuzzy Delphi Method," Sustainability, MDPI, vol. 14(18), pages 1-18, September.
    13. Pei-Hsuan Tsai & Chih-Jou Chen & Jia-Wei Tang, 2021. "Key Factors Influencing Talent Retention and Turnover in Convenience Stores: A Comparison of Managers’ and Employees’ Perspectives," SAGE Open, , vol. 11(4), pages 21582440211, December.
    14. Ghulam Ahmed Bin Donkor & Godfrey Adda & Mohammed Kweku Baidoo, 2023. "Leveraging on Motivation to Retain Employees: The Role of Psychological Contract," International Journal of Business and Management, Canadian Center of Science and Education, vol. 16(10), pages 1-40, February.
    15. Salisu Umar & Kabiru J. Ringim, 2015. "Psychological Contract and Employee Turnover Intention among Nigerian Employees in Private Organizations," MIC 2015: Managing Sustainable Growth; Proceedings of the Joint International Conference, Portorož, Slovenia, 28–30 May 2015,, University of Primorska, Faculty of Management Koper.
    16. Md Asadul Islam & Amer Hamzah Jantan & Md Adnan Rahman & Abu Bakar Abdul Hamid & Fariha Binte Mahmud & Ashikul Hoque, 2018. "Talent Management for Organisational Performance Development in Bangladesh Private Industry Context," International Journal of Human Resource Studies, Macrothink Institute, vol. 8(4), pages 2134-2134, December.
    17. Ngan Dam & Dieu Hack-Polay & Mahfuzur Rahman & Ali B. Mahmoud, 2023. "Psychological Contract and Young Talent Retention in Vietnam: Development and Validation of a Hierarchical Reflective Structural Model," Businesses, MDPI, vol. 3(1), pages 1-16, January.
    18. Wei, Wei & Wang, Jun & Chen, Xuanyi & Yang, Jing & Min, Xiaowei, 2018. "Psychological contract model for knowledge collaboration in virtual community of practice: An analysis based on the game theory," Applied Mathematics and Computation, Elsevier, vol. 329(C), pages 175-187.
    19. Deemah Alzaid & Suad Dukhaykh, 2023. "Employer Branding and Employee Retention in the Banking Sector in Saudi Arabia: Mediating Effect of Relational Psychological Contracts," Sustainability, MDPI, vol. 15(7), pages 1-14, April.
    20. Skuza Agnieszka & Woldu Habte G. & Alborz Shawn, 2022. "Who is talent? Implications of talent definitions for talent management practice," Economics and Business Review, Sciendo, vol. 8(4), pages 136-162, December.
    21. Kraus, Sina A. & Blake, Benjamin D. & Festing, Marion & Shaffer, Margaret A., 2023. "Global employees and exogenous shocks: considering positive psychological capital as a personal resource in international human resource management," Journal of World Business, Elsevier, vol. 58(3).
    22. Edward P. O’Connor & Marian Crowley-Henry, 2019. "Exploring the Relationship Between Exclusive Talent Management, Perceived Organizational Justice and Employee Engagement: Bridging the Literature," Journal of Business Ethics, Springer, vol. 156(4), pages 903-917, June.
    23. Ramazan Özkan Yildiz & Soner Esmer, 2021. "Talent management related concepts and debates in container shipping industry by an emerging market perspective," Journal of Shipping and Trade, Springer, vol. 6(1), pages 1-30, December.
    24. Crane, Bret & Hartwell, Christopher J., 2019. "Global talent management: A life cycle view of the interaction between human and social capital," Journal of World Business, Elsevier, vol. 54(2), pages 82-92.

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