THE ROLE OF TALENT MANAGEMENT IN ENHANCING TALENT RETENTION IN MULTINATIONAL AND LOCAL COMPANIES OF PAKISTAN

Abstract

The world economy has transformed from being industrial to knowledge based, in which talented employees distinguish successful organizations. Global mobility in this time has created an influx of multinational subsidiaries in Pakistan. Coupled with the need of attracting, developing, and retaining the right talent, Pakistan’s regulatory framework allows businesses to design their policies according to their needs. This study has attempted to compare the talent management policies meant for talent retention in the multinational and local firms of the country through the lens of Resource-based view (RBV), Human Capital Theory (HCT), and Social Exchange Theory (SET). This research covers the commercial business sector of Pakistan. For the purpose of data collection, 25-30 companies were approached out of which twelve agreed to participate. The data was collected through semi-structured interviews, and later analyzed using the approach of thematic analysis. As a result of this research, it was established that the multinational companies in the countries had more comprehensive talent management policies, covering the concepts of recruitment, training and development, employee engagement, and performance management.