Understanding the Implementation of Talent Management Practices by SME Owner-Managers in Nigeria: A Practice-Based Perspective

This study investigated the implementation of talent management practices among SME owner-managers in South-West Nigeria; with particular attention to their understanding of talent management, practices implemented and their leadership approaches as well as the challenges they faced in implementing talent management practices. The study adopted a quantitative cross-sectional survey design which involved 435 owner-managers and knowledgeable managers of SMEs in Lagos, Ogun, Oyo, Osun, Ondo and Ekiti States. Descriptive and multiple regression analysis was used to analyse the data. The results showed that respondents acknowledged talent management and took measures to identify talent, hire talent, develop talent, motivate and retain talent, as part of the leadership's responsibility. Transformational leadership turned out to be the most significant factor in implementing talent management, whereas financial limitations, lack of HRM knowledge, and operational pressures and challenges in attracting and retaining knowledgeable workers were significant barriers. In conclusion, the study suggests that leadership and proactive employee capability development are crucial to effective talent management. It makes recommendations for SME owner-managers to improve employee development and improve leadership by using participative and transformational leadership and set up practical talent identification and retention strategies. There should also be HRM training and workforce development assistance available to and accessible by government agencies and SME support organisations.