Talent management practices and performance of deposit money banks in South-West, Nigeria

Abstract

This study investigates the effect of talent management practices on the performance of Deposit Money Banks (DMBs) in South-West Nigeria. Specifically, the research examines the effects of talent acquisition and retention, performance management, learning and development, and succession planning on key performance indicators, namely employee productivity and operational efficiency in DMBs in South West, Nigeria. The study was motivated by persistent productivity and operational challenges reported within DMBs in the region. A descriptive survey design was adopted, and data were collected through structured, closed-ended questionnaires administered to 690 employees selected via a multi-stage sampling approach from systematically important DMBs across Lagos, Ogun, Oyo, Osun, Ondo, and Ekiti States. Data were analyzed using multiple regression techniques with the aid of SPSS. The findings reveal that all four talent management practices (Talent acquisition and retention, Performance management, Learning and development and succession planning) significantly and positively influence organizational performance, with talent acquisition exerting the strongest effect, closely followed by learning and development. These outcomes corroborate the propositions of Human Capital Theor which collectively emphasize the strategic value of investing in employee capabilities to enhance firm performance. Although the study is limited to first-tier DMBs within one geopolitical zone in Nigeria, the alignment of its results with existing empirical evidence reinforces the robustness of the conclusions. The study recommends that DMBs intensify their talent management initiatives to drive sustained improvements in productivity and operational efficiency.