A holistic, multi-dimensional approach to talent attraction, development, and retention strategies is needed around talent retention in Botswana by 2025. However, given the growing significance of human capital as a source of competitive advantage for organizations in Botswana, they must adopt effective talent management practices. This will not only help organizations attract and retain skilled individuals but also ensure that organizations do not lag in the ever-changing economic environment
Having effective talent management practices—from the time someone is recruited through to when an employee leaves—crucial to retaining talent in the workplace. Muzanenhamo(2023) stresses that organizations must re-direct their efforts to identifying, attracting, developing, and retaining talent if they are ever to achieve the sustainable growth in competitive markets. In their study, which makes a case for such an all-encompassing approach, Khan and Bakar discovered that the talent management strategies put in place to monitor gifted workers had a plentiful effect on the job performance of such employees in issue as long as the two bosses and employees themselves implemented those strategies effectively. All rights reserved This stresses the need for an overall approach to leave no stone unturned. Empowering with a culture that makes employees feel appreciated can prevent high turnover, thereby increasing workplace satisfaction.
One of the factors that keeps top talent is job satisfaction. Barkhuizen and Gumede (2021) indicate that when performance management is not well executed, employee dissatisfaction will occur and that will increase the rate of voluntary turnover. Hence, there is the need to have effective performance management systems in place. These whole systems are not just about judging employees’ performances but also with the purpose of providing constructive feedback and opportunities for growth. Qurratu’Aini’s research also underlines the essence of employee engagement and satisfaction in an organization for its sustainability, meaning the likelihood of an employee disengaging with the organization reduces when the employee is engaged (Qurratu’aini, 2022).
The vision is to help organizations learn faster than the rate of change. But organizations should focus on achieving ongoing and continuous learning and development beyond just performance management.
Developing “Talentholics”—employees and leaders who not only possess the specific knowledge and skills required to excel within their field of choice but who can also adapt and learn continuously as the lines between industries continue to wane—is paramount. Notably, this dimension of talent management is of paramount importance in the Industry 4.0 era (Macpherson, 2023).
By giving employees access to training programs and professional development resources, they improve their skills and competencies and are more likely to stay for the company. This makes talent management a vital tool for attracting and retaining productive employees, especially in the public sector as proved by Shava(2022) Amharic version The issues of skill shortages and other associated factors illustrate the two sides of lust.
Leaders are key in the battle for talent. According to the latest writing from Barkhuizen and Masale (2022), a leadership talent mindset takes on a pivotal role driving effective talent management and retention. This attitude is reflected in the leaders who earnestly invests in the growth of their employees and drives an employee-centric culture in the organization. Moreover, Fragouli and Alhaider (2020, p. 2315) further stress that responsible leadership practices are necessary to foster an organizational culture that encourages employees to add value and contribute.
Unfortunately, talent retention is often linked to compensation and benefits. Remuneration packages must be competitive with industry standards. Talent management starts not only with employee acquisition but also staff engagement and retention strategies with compensation (Ali & Khaled, 2022). This is especially pertinent in Botswana, where the competition for skilled human resources is becoming tight.
Moreover, companies must also work on developing a positive organizational culture while working on work environment balance. This balance is critical because it affects employees’ intent to stay with organization. Hence, policies promoting a balanced approach to personal and professional lives should be in place across organizations (Weng, 2023). A society can boost job satisfaction and minimise attrition in both job associates.
This is especially true for Botswana, an economy which is dependent on skilled labor and requires organizations to implement novel ways of thinking when it comes to talent management, particularly so as it relates to the specific traits of their employees. Siregar & Kartika (2020) highlight the need to comprehend the local context and tailor talent management practices. This is a contextualized framework for organizations to tackle talent retention challenges in an unstable economic environment like Botswana.
For that, institutions need to embrace technology to improve their talent management processes. The advent of digital technology has had a profound impact on the human resources (HR) function, automating recruitment, onboarding, and performance management using software tools, and online systems. This development helps organizations to bring in and retain top talent. According to Xu, 2023 technology can transform talent management processes and provide organizations use to stay ahead in a fast-changing marketplace, making it a real game-changer.
A culture that appreciates and values employees is crucial for talent retention. Employees who feel appreciated for their contributions are more likely to stay engaged with their organizations. According to research by Tamunomiebi and Worgu (2020), staff recognition programs improve job satisfaction and lower turnover intentions. Recognition initiatives like these keep the focus on what is working, helping to cultivate a positive environment where employees are empowered to take note of what is going according to plan. Such a positive environment always goes a long way in leading to higher employee retention.
At the same time, organizations have to be consistent with their talent management approaches and strategies to stay in the game in such a dynamic marketplace. They encourage organizations to adopt integrated talent management models that are better aligned with their strategic goals and the ever-changing demands of the workforce (Afkhami et al., 2020). With this flexibility, Botswana aspires to be not only a destination for high-skilled labor but also sustainable growth as the labor market evolves.
In order to retain talents successfully in Botswana by 2025, the organizations need to implement effective talent management practices, the clarity of vision by the leaders, competitive rewards in terms of both financials and managerials; and a flexible culture integrated altogether. In addition, it is essential to remain committed to social responsibility and organizational excellence. Such initiatives would lure and retain talented workforce in the firm improving long-term success for the organizations.
