Talent Management in Contemporary Environment- Evidence from BSE Companies

Abstract

Talent management implies recognizing a person's inherent skills, traits, personality and offering him a matching job. Every person has a unique talent that suits a particular job profile and any other position will cause discomfort. Talent-management processes include workforce planning, talent gap analysis, recruiting, staffing, education and development, retention, talent reviews, succession planning, and evaluation. Identification, investment in, and management of the right talent can play a pivotal role in the sustainability of any organized entity.

The talent management approach addresses this very need in organizations to identify and make their investments on the right talents and realize their complete potential. Today, there is a growing demand for companies with distinctive capabilities, high performing organisations that have specialised workforces with technical, functional and industry expertise and experience. In such a scenario, it becomes important for companies to first, define the talent they need, second, discover and deploy it, and third, develop a culture that encourages specialisation. Keeping this background in a view, this research article highlights the concept talent management, rationale of talent management, strategies of Indian companies regarding talent management and how they are reporting and disclosing talent management in competitive era.