TALENT MANAGEMENT AND LEADERSHIP SUCCESSION OF SELECTED SMALL AND MEDIUM FAMILY-OWNED ENTERPRISES IN IMO STATE

Abstract

This study investigates the impact of talent management on leadership succession practices of selected small and medium family-owned enterprises (SMEs) in Imo State, Nigeria. Utilizing a descriptive research design, data were collected from 370 SMEs through a structured questionnaire. Quantitative analysis, including correlation and regression, revealed that effective talent management practices significantly enhance operational efficiency (R² = 0.52) and sustainability (R² = 0.42), while leadership succession planning positively contributes to sustainability (R² = 0.45) and competitive advantage (R² = 0.38). Findings highlighted challenges such as nepotism, informal succession processes, and cultural influences (e.g., gender biases and family dynamics) that hinder effective practices. The study confirms that structured talent management and succession planning are critical for the long-term success of family-owned SMEs in Imo State. Recommendations include adopting formal HR practices, developing clear succession plans, addressing cultural barriers, and leveraging external support from organizations like SMEDAN. The findings contribute to the limited literature on family-owned SMEs in Nigeria, offering practical insights for enhancing their sustainability and competitiveness.