Talent Acquisition Strategies and Staff Retention in A Deposit Money Bank in Nigeria

Abstract

The study investigated talent acquisition strategies and staff retention in a deposit money bank in Nigeria. Specifically, the study evaluated the impact of employer branding and digital recruitment on employee retention; it also examined the role of employee satisfaction in retaining top talent within the bank and analysed the impact of employee engagement on employees’ retention in a deposit money bank. The study employed a cross-sectional survey design; the population of this study comprised staff in the Human Resource department at the Lagos Head office and a branch in Ilorin. The total number of HR staff at the bank’s head office is 37, while the total number of staff at the Ilorin branch is 98, the sample size of 101 was calculated using Taro Yamane’s formula. A random sampling technique was adopted for the study and primary data were sourced through the administration of a structured questionnaire to the staff of the bank using Google Forms. The collected data were analysed using various statistical tests to confirm their validity and reliability. The data gathered were analysed using inferential statistical techniques, specifically the structural equation model (SEM). The data analysis was executed using the STATA package. The results showed that employer branding, employee engagement, employee satisfaction are positively linked to talent acquisition and employee retention while digital recruitment revealed a strong negative and statistically significant relationship with talent acquisition and retention. The study concluded that when employees are actively involved, emotionally invested, and feel a sense of ownership over their work, they are not only more likely to stay but also to act as ambassadors for the organisation. The study further concludes that a combination of strong employer branding, active employee engagement and employee satisfaction is key to attracting and retaining top talents.