Why Do Talented People Leave? Assessing Talent Turnover Risks Using a Hybrid Approach

ABSTRACT Addressing the critical challenge of talent turnover in human resource management (HRM), the study aims to bridge the significant gaps in understanding the risks of talent turnover and the lack of robust frameworks for HR decision‐makers to assess and manage these risks effectively. Grounded in the resource‐based view (RBV), it introduces a hybrid methodology that synergizes failure mode and effects analysis (FMEA) with multi‐attribute decision‐making (MADM) methods using Z ‐numbers. The research process involved an extensive literature review and expert panel discussions to curate an exhaustive list of turnover risks. These risks were appraised using FMEA technique and Z‐SWARA method. To validate the robustness of the evaluations, four different MADM methods were applied for risk ranking, which were then integrated using the BORDA count method. The framework's utility is exemplified by its application in a private bank in Iran, where it was used to identify and prioritize talent turnover risks. Findings reveals that skill underutilization, immigration, and underpayment are the most critical risks associated with talent turnover in our case, as confirmed by a sensitivity analysis. Practically, the framework equips HR managers with a robust tool for identifying and prioritizing talent turnover risks, facilitating strategic decision‐making in a uncertain business environment.