The Role of Talent Management on the Competitiveness of Selected Commercial Banks in Ghana

Abstract

Amidst a highly regulated, dynamic, and competitive business landscape, Talent Management (TM) has become a critical strategic requirement for organisations, particularly within the banking sector, where the inability of banks to effectively manage their talents results in different organizational outcomes. This study, explores talent management practices of banks and how they enhance Ghanaian commercial banks' competitiveness. Employing an interpretivist paradigm, qualitative research approach, a phenomenological and case study design, unstructured interviews were conducted with 20 key human resource professionals and strategy implementers, from three prominent commercial banks in Ghana. The study explores the lived experiences of licensed commercial banks, where a constant comparative analysis revealed TM practices as talent acquisition, development and retention practices. The main TM practices leadership development programmes, coaching and mentoring, assignment of critical roles and performance management. Industry standards, regulatory requirements alignment, generational differences and organizational culture were revealed as institutional factors driving TM. Furthermore, the study concludes that bank talents whose skills are reconfigured through an effective TM tend to optimize processes, reduce errors, and contribute to cost-saving initiatives, higher employee productivity, innovation in product development, improved customer service, and better risk management within the bank. The study recommends that banks should recognize talent as a strategic asset, invest in continuous learning, adaptation and alignment with institutional contexts. to enhance their competitive advantage.