Talent management for a competitive advantage in commercial banks in Rwanda: a case study of Bank of Kigali headquarters

Abstract

Talent management practice within an organization is an international human resource strategy that seeks to identify, develop, deploy and retain talented and high potential employees. Although talent management practices may be applied in an organization, they can only constitute as a source of competitive advantage if both top management and employees are aligned on its objectives and implementation in the organization. This research stemmed to look at talent management practices as a competitive advantage in Bank of Kigali main branch in a period of 5 years 2007-2011. As far as methodology was concerned, the qualitative approach was used since the study was descriptive in nature. It is in this context that the population was targeted and sampled purposively in sample size of 98 respondents, 48 employees and 50 customers calculated with stratified methodology. The primary data was collected by distributing questionnaires to customers to know about their satisfaction and to employees intending to know what were the talent management practices in Bank of Kigali and its influence on competitive advantage. After analysis and interpretation of responses, 100 %( 48 employees) strongly agreed on the existence of talent management strategies such as align individual and organization goal, training, reward, bonus, loan at preferential rate, promotion, staff medical insurance at 100%. 100 %( 48 employees) agreed on turnover reduction and its cost such as training, recruitment fees and unemployment compensation. 100 %( 48 employees) strongly agree on new product innovation during the last 5 years. 100 %( 50 clients) also agreed that they are highly satisfied with the service provided by Bank of Kigali staff.