Validation of a Talent Management Model Based on Psychological Capital in the Insurance Industry: A Structural Equation Modeling Approach
Keywords:
Talent management, psychological capital, employee empowerment, organizational policies, structural equations, insurance industryAbstract
The objective of this study was to validate a talent management model based on psychological capital in the Iranian insurance industry. This applied quantitative research employed a descriptive–correlational, cross-sectional design. Data were collected using a 30-item Likert-scale questionnaire administered to 322 employees and managers in insurance companies across four provinces during Spring–Fall 2023. Instrument validity was confirmed through content validity and convergent validity (AVE>0.5), while reliability was established via Cronbach’s alpha and composite reliability (CR>0.8). Data were analyzed using SPSS and SmartPLS through confirmatory factor analysis, structural equation modeling, and model fit indices (SRMR, NFI, GOF). The results indicated significant positive effects of organizational policies (β=0.42), employee empowerment (β=0.375), psychological capital (β=0.284), and organizational performance (β=0.474) on talent management. The R² value for talent management was 0.614, demonstrating that 61.4% of its variance was explained by the model. Model fit indicators showed acceptable levels (SRMR=0.058, NFI=0.901, GOF=0.609). All factor loadings exceeded 0.50, confirming convergent validity and strong structural alignment. The study concludes that psychological capital, supported by organizational policies and employee empowerment, plays a critical role in enhancing talent management within the insurance industry. Strengthening these factors can improve employee retention, productivity, and overall organizational performance. The validated model provides a strategic foundation for human resource development and evidence-based decision-making in the insurance sector.
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Copyright (c) 2025 Farzad Haji Ghafori Bookani (Author); Hooshang Taghizadeh; Nader Bohlooli (Author)
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