Unraveling the Dynamics of Talent Retention Strategies in Competitive Business Environments

Abstract

In an increasingly competitive business environment, talent retention strategies are a key factor in ensuring organizational sustainability and competitiveness. Companies face great challenges in retaining talented employees due to increasing workforce mobility, changing professional expectations, and fierce industry competition. This study aims to examine the dynamics of talent retention strategies through in-depth literature analysis. Using literature study and library research methods, this study explores various approaches used by organizations in retaining a quality workforce. The results show that talent retention depends not only on financial compensation, but also on other factors such as career development, organizational culture, effective leadership, and work-life balance. Additionally, technology-based strategies such as predictive analytics and talent management systems are increasingly being used to identify potential risks of employee loss. The study also highlights how personalization in talent management can increase employee engagement and loyalty to the organization. The implications of this study show that organizations need to design retention strategies that are more flexible and adaptive to changes in labor market dynamics. A holistic and data-driven approach can be an effective solution in retaining talented employees. This research provides insights for academics and practitioners in understanding trends and challenges in talent retention in the modern business era.