A Causal Relationship Model of Talent Management Factors Affecting Performance of Construction Business in Thailand
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Abstract
This study aimed to develop a causal relationship model of talent management factors that affect the performance of construction businesses in Thailand. The study employed a mixed-methods approach, beginning with quantitative methods and then following them with qualitative methods. The sample comprised 425 entrepreneurs, executives, and employees working in the construction industry in Thailand, selected through a multi-stage sampling process using purposive sampling, and conducted in-depth interviews with 12 key informants, including senior executives, human resources executives, and construction business experts. The research used 1) online questionnaires and 2) semi-structured interviews as research tools. Data were analyzed using descriptive statistics, inferential statistics, and content analysis.
The research revealed that four components comprise the relationship between talent management factors and the performance of construction businesses in Thailand: talent management system factors, internal environmental factors, external environmental factors, and business performance. The model was highly consistent with empirical data and can explain 77% of the variance in talent management factors that affected the performance of construction businesses in Thailand. Additionally, qualitative research revealed that the organizational culture element is another component of internal environmental factors. The findings of this research can be utilized to plan strategies and develop approaches aimed at enhancing the competitiveness of construction businesses in Thailand.
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