Talent Management – An Emerging Strategy To Create a Higher Performing Workforce

Abstract

This paper describes the concept of talent management as an important pillar of the organizational growth in a holistic way .In this competitive era when each and every firm focuses on their human resource as a valuable asset in order to achieve organization’s objectives. They want to get the best talent from the environment through various means and then managing that talent with complete effectiveness and efficiency. This helps them in maintaining a competitive advantage over others. With this ideology the concept of talent management came into picture. This term came was coined by McKinsey & Company in their publication titled “War on Talent”. Talent management refers to the anticipation of required human capital for an organization and planning to meet those needs. It is the science using Strategic Human Resource Management to improve business value and also to make it possible for companies to reach their goals. Talent management strategies focus on five primary areas: attracting, selecting, engaging, developing and retaining employees. It is very substantial to say that a talent management strategy needs to be linked to the business strategy. Through this paper we want to reflect that the approach of talent management is more evolved and advanced aspect of strategic management

Keywords: Business, Human resource, Objectives, Strategy, Talent management

Unique Article ID: GJHRM-122

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