International Research Journal of Engineering and Technology (IRJET)
e-ISSN: 2395 -0056
Volume: 04 Issue: 04 | Apr -2017
p-ISSN: 2395-0072
www.irjet.net
“An Analytical Study of Talent Retention in Selected Educational Institutes in Ahmednagar District” Yogesh Laxman Aher1 Pooja Sadanand Kawle2 1.Assistant 2.
Professor, Dept of MBA, SRES COE, Kopargaon, Maharashtra, India Assistant Professor, Dept of MBA, SRES COE, Kopargaon, Maharashtra, India
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Abstract - Talent is something that sets one apart. The
point to be underscored here is that talent is a commodity in short supply and comes at a price. Since it is a scarce resource, it needs to be optimally managed. Management gurus have defined talent as the people who have potential and skills or those who can successfully lead transformation and change in the organization. Such individuals are usually sought after in the market and their contribution to business adds direct value to its strategic and competitive positioning. Each resource in the organization plays a vital role in its success. Amongst all the available resources in an organization, human resource is the most crucial one. Managing human resources in an effective manner can lead to better chances of organizational success Ahmednagar district is one of the big district in Maharashtra & having number of Government and Private institutes offering various educational programs having large number of enrolments. It is observed that majority of private institutes find it difficult to retain employees to impart and manage educational activities. This paper seeks to understand and analyze the causes of the high attrition rate of employees in the private management institutes in Ahmednagar. Moreover, the paper tries to diagnose the malady and prescribe the remedial solutions. Key Words: Mutual Talent, Talent Retention, Talent Management Strategy, Educational Institutes
1.INTRODUCTION A nation is built to a large extent in its educational institutions – in its classrooms, laboratories, libraries and playing fields. Educational institutes not only produce highly skilled and enlightened manpower needed for the political, economic and social transformation and development of our country but also shoulder the responsibility of lending dynamism, resourcefulness and intellectuality to it. The teacher is the backbone of the educational system, the maker of mankind and the architect of society. A nation grows with the teachers and with the education imparted to the people. It is in this respect that the role of the teachers © 2017, IRJET
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acquires significance in shaping society and in bringing revolutionary changes in the development of the country. The retention of this community in educational system especially individual institutes is necessary for the effective and proper use of the resources for rendering maximum service to society through building up the future humanresource pool of the nation A number of findings and observations especially regarding management institutes are pointers to the fact that the education cosmos is sitting on a veritable landmine – that of talent crisis. Institutes at large are facing an acute dearth of academic talent; this is a malaise, which can snowball into a pandemic if remedial action is not taken instantly Institutes are now taking the bull by the horns. The realization of the gravity of the situation is gradually dawning upon them. Slowly but steadily enough, they have started addressing this issue. They are acknowledging academic talent shortage as a burgeoning problem and are placing the academic talent development task high on their list of priorities From the earlier oft-repeated phrase of ‘no one is indispensable’, today the key words for any HR department are ‘key personnel’, ‘talent war’ and ‘attrition’. In such a situation, employee-retention programs have gained importance not only in sectors like IT/ITES, retail, banking and financial services but also educational institutes, which witness high rates of employee turnover. After talent acquisition and talent management, talent retention is the next most important issue on any HR agenda. At the senior level, each individual brings a unique set of skills. Where talent is already rare and people with requisite skills and experience are difficult to find, retention becomes a critical component of organization-building.
2.0 Conceptual Framework At the outset, let us embark on an attempt to define ‘talent’. Talent may be defined as the inherent ability of an individual to do a particular task in a particular way. Talent has a connotation of distinction. It is something that sets one apart. The point to be underscored here is that talent is a commodity in short supply and comes at a price. Since it is a scarce resource, it needs to be optimally managed. Organizations across the world are now thinking of including talent management in the gamut of management processes and functions. ISO 9001:2008 Certified Journal
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