Revisiting talent management, work-life balance and retention strategies
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Purpose: This paper aims to examine the themes of talent management, work-life balance (WLB) and retention strategies in the hospitality industry. The study was undertaken through an analysis of the key themes in the most recent literature. The paper uses a framework incorporating organisational and industry attributes, personal employee dimensions, work-life conflict and organisational strategies and examines these in relation to whether job satisfaction, organisational commitment and employee retention improve. Design/methodology/approach: The paper uses employee turnover literature to underpin a discussion of successful talent management. Using a key word search in both the hospitality literature and more mainstream management research, it divides the literature into four themes, namely, employee attitudes, personal employee dimensions, WLB and organisational strategies for employee retention. Findings: The key findings emerging from this examination of the literature show that WLB appears to have become one of the key variables when addressing issues of employee management and retention. In the recent literature, the link between employee attitudes, such as job satisfaction and organisational commitment, personal dimensions, such as stress and alcohol abuse, and WLB have become closer and intertwined. These links assist in gaining more focussed strategies to assist in retaining talented staff.Research limitations/implications: The meta-analysis of relevant literature provides an understanding of recent thinking in the area of WLB, talent management and the retention of talented staff. The article reframes the key issues in light of changes in the work environment and presents a new framework for future research and industry application. Practical implications: Given that WLB has become such an important factor, it is critical that managers regularly monitor the levels of WLB being experienced by staff. As staff are not always aware of WLB being a problem until it is too late, managers will need to find appropriate methods for assessing the presence of problems in this area. Social implications: The development of WLB strategies within the hospitality industry will assist in providing a healthier lifestyle for employees. This will then positively impact on family and social relationships. Originality/value: The meta-analysis of relevant literature provides an understanding of recent thinking in the area of WLB, talent management and the retention of talented staff. The article reframes the key issues in light of changes in the work environment and presents a new framework for future research and industry application.
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