Asian Journal of Economics, Finance and Management

This study examines the relationship between talent management and organization performance of local capacity development parastatals in the petroleum industry. The study which was situated in Nigeria sampled 338 management and junior staff using purposive sampling method. Primary data was employed for the study and obtained using close-ended questionnaire, designed to reflect Likert 5-point scale. We distributed 338 copies of questionnaires, retrieving 283, which after screening were seen as valid and usable. A dual analytical approach was followed, as we combined descriptive tool with inferential method in analysing the data gathered. The descriptive method was frequencies and percentage distribution. We used the inferential method of correlation for hypotheses testing. The study is limited to determining the effect of talent management on organizational performance of local capacity development parastatals in the Nigerian petroleum industry using primary data as key source of analysis. With the Pearson correlation method, we found all three constructs of talent management (talent acquisition, development and retention) significantly influencing the performance indicators of task accomplishment and corporate growth. We then stand on this to conclude that, ramping or scaling up performance will require proper talent management, particularly in the areas of talent acquisition, developing such talents and ensuring nurture or discovered talents are retained. We recommend reinforcing talent management by improving procedures, policies and systems that emphasize the organisation’s goal.