Organisasi harus fokus pada strategi menarik, mempertahankan, dan memanfaatkan bakat terbaik untuk mencapai kesuksesan dalam pasar yang kompetitif. Khususnya, generasi milenial perlu mendapat perhatian karena mayoritas angkatan kerja saat ini. Penelitian menunjukkan bahwa generasi ini cenderung memiliki loyalitas rendah jika perusahaan tidak memenuhi ekspektasi mereka terhadap pekerjaan dan karier.Penelitian ini bertujuan menganalisis pengaruh talent management dan strategi kompensasi terhadap retensi pegawai dengan mempertimbangkan employee engagement sebagai faktor mediasi. Dengan menerapkan sistem talent management dan kompensasi yang efektif, organisasi berharap meningkatkan retensi karyawan serta menciptakan tingkat engagement dan loyalitas yang tinggi.Penelitian dilakukan di PT BMRI, salah satu BUMN di Indonesia. Data dikumpulkan melalui survei terhadap minimal 182 pegawai milenial di PT BMRI dan dianalisis menggunakan model Structural Equation Modeling (SEM) dengan aplikasi Lisrel 8.8.Hasil penelitian menyimpulkan bahwa implementasi talent management dan kompensasi di PT BMRI berpengaruh positif dan signifikan terhadap retensi pegawai milenial. sementara employee engagement berperan sebagai faktor mediasi, meskipun pengaruh langsung lebih dominan daripada pengaruh tidak langsung melalui faktor mediasi. Penelitian ini memiliki implikasi teoritis dalam literatur dan implikasi manajerial bagi praktisi Sumber Daya Manusia(SDM), terutama di PT BMRI dan organisasi sejenis.

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Organizations aiming for success in a competitive market should focus on attracting, retaining, and leveraging top talent, with particular emphasis on the millennial generation, which currently dominates the workforce. Studies have shown that millennials exhibit low loyalty if their work and career expectations are not met. This study investigates the influence of talent management and compensation strategies on employee retention, considering employee engagement as a mediating factor. The research was conducted at PT BMRI, a state-owned bank in Indonesia. The implementation of effective talent management and compensation systems is expected to enhance employee retention and foster high levels of engagement and loyalty. Data were collected via a survey administered to 182 millennial employees at PT BMRI and analysed using the Structural Equation Modelling (SEM) model with Lisrel 8.8.

The research findings suggest that the implementation of talent management and compensation at PT BMRI significantly and positively impacts employee retention. Moreover, employee engagement also exerts a positive influence, although its direct effect is more significant than its indirect influence through mediation. The study holds theoretical implications in the literature and managerial implications for Human Resources (HR) practitioners, particularly in organizations like PT BMRI.