Influence of Talent Management on Competitiveness of Insurances Firms in Kenya: A Case of Britam-Kenya
Keywords:
Talent Management, Competitiveness, Insurances FirmsAbstract
The purpose of the study was to investigate influence of talent management on competitiveness of insurances firms in Kenya: A Case of Britam-Kenya. This study used descriptive survey method to collect both quantitative and qualitative data that helped analyze the talent management process in Britam. A study population of 112 was drawn from 326 employees from Britam working in the greater Nairobi Region. The study used primary data using structured and unstructured questionnaires on which a pilot study had been earlier conducted to test its reliability. The collected data was compiled in an electronic spreadsheet and analyzed using a Statistical Package for Social Sciences (SPSS) version 22. The presentation of the findings involved use of tables, pie charts and bar charts while correlation analysis and regression analysis examined the relationship between influences of talent management and the attainment of competitive advantage. The study revealed that the acquisition of talent with the appropriate competencies and their further training to horn the requisite skill repertoire is critical. The study further established that retention of the talented staff was essential just as is the need to ensure an effective supply of talent through succession planning. It was evident that insurance companies need to identify unique ways to develop competitive advantage over their competitors by advancing talent management initiatives. The findings of this study are useful to insurance companies in deploying talent to leverage existing use of data and analytics to generate greater insight in managing risks, seek to utilize new approaches to underwrite risk and predict loss, and enable competitiveness with sophisticated operational capabilities.
Keywords: Talent Management, Competitiveness, Insurances Firms
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