Methods to Attract and Retain Talented Employees in Romanian Organizations: A Compared Approach Between X, Y, and Z Generations

Introduction

It is very difficult to find talented employees, especially in this challenging environment, where change is every step, where social, political, economic, and technological factors are constantly and continuously influencing companies environment. In this talent of war environment, through the best in- class attracting and retaining practices, companies are trying to realize their visions and to succeed through talented employees, and perceived them as an important asset, investing continuously in their development. Employees are perceived now as being the core competencies for companies and to attract, retain, and engage talents is very important in order to obtain sustainable performance (Yildiz et al., 2020). Important for companies is to perceive the talented employees with the adequate skills, knowledge and attitudes as employees who are commercially savvy and smart enough to obtain performance in a dynamic and challenging environment (Mofokeng, 2018). It is important not only to attract the talented employees, but especially to invest in them, retain them and recognize their value (Bostjancic & Slana, 2018).

Talent management is the answer of companies to the challenges braught by the present economy (Stuss, 2020). Talent is an important and strategic resource not only for local development but also for regional economic and social development (Shi et al., 2022). In this global environment, it is evaluated the mobility of talented employees, thus, talent is perceived as a vital resource necessary to achieve sustainable development for any country, and attracting and retaining these talented employees all over the world became the strategic way to increase the country's talent reverse (Wang & Shi, 2023). The term „war of talent” was proposed for the first time by McKinsey in 1998, and since then the specialists analysed it in many studies, theoretical or practical (Liu & Tan, 2022). This known phenomenon about „war of talent” became a key element for organizations as long as they want to be competitive (Luna-Arocas & Danvila-del-Valle, 2022), and the talent assets must be also quantitaive and qualitative (Howaniec et al., 2022). In order to survive and thrive, the companies must base on talents as it became a critical function in the war of talent period (Park et al., 2022). Exceptional talent is not about the person, is about the journey the employee makes through development, innovation, creativity, becoming the best in order to obtain individual and organizational performance, and moving from today into a new tomorrow, by self-orietation, and success (Dinnen & Alder, 2017).

One of the most important factors that require a special attention are talented people who are working in the organization (Sims R.R., 2002). Competitive advantage belongs to those organizations that know how to attract, select, retain and develop talented employees (Bohlander & Snell, 2007). In the XXI century, human resources are the major source through which competitive advantage is obtained and perhaps an important determinant in achieving the organization's long-term performance. Thus, the success of the organization depends on attracting and retaining well-trained people who can respond to changes in the external environment.

Organizations have realized that their success depends on their ability to attract, develop and retain talented staff (Reich R., 2002). People want to make sure they are valued by their employer and learn from these value for themselves. When are valued, people are more confident and will have potential that will lead them to organizational success (Holbeche & Mayo, 2012).