THE ROLE OF HUMAN RESOURCE MANAGEMENT IN RETAINING THE TALENTS IN THE REPUBLIC OF MACEDONIA: EMPIRICAL ANALYSIS OF YOUTH IN THE REPUBLIC OF MACEDONIA

Abstract

This paper elaborates the issue about the ,,brain drain” phenomenon observing it through the prism of its intensity in the Republic of Macedonia, and also its positive and negative impacts, but also its effect on the development of human resource management in the country, as one of the key departments of any organization. This research, which covered 1400 respondents from the target group of young people, aged between 15 and 29, begins by providing answers to the questions about the extent to which this phenomenon is present in Macedonia, what are the characteristics of the people who tend to leave the country, what are the pull factors that attract them to go abroad and also what are the push factors that stimulate them to leave their own country and finally, what is the impact of human resource departments on retention of staff, as well as recruiting staff back to the country, analyzed on the basis of an additional survey conducted among 10 human resource managers in large Macedonian companies. Republic of Macedonia is threatened by serious losses from brain drain that could decrease the human capital of the country and its economic growth. Furthermore, companies' HR department policies on retaining, recruiting and repatriation of staff as well as attraction of new employees in the economy are underdeveloped and hugely influenced by heavy economical and political influences within the country.