CONTEMPORARY TRENDS IN TALENT MANAGEMENT – STRATEGIZING TOWARDS BUILDING STRONG ORGANISATION

The current dynamic scenario has made organization transform rapidly to keep pace with the organizational dynamics and talent management today is just more than attracting and retaining talent. The scope of talent management has increased to developing human resource and enhancing employee potential. With the current scenario of the ageing population and young talent, organizations have given substance to talent management elevating a rich organization culture where a serious concern for today’s HR Professional is towards retainment and acquisition of the right talent, in order to survive this “War for talent”. It is the organization culture that ensures the right talent management practices in the organization emphasizing on retaining the talent and effective knowledge management. This paper provides an insight to HR Persons & Academicians on how to acquire, retain and nurture talent in a highly competitive globalised economy. The paper also aims to provide an understanding regarding the role played by organization culture in building effective TM through case studies and examples from Indian economy, highlighting the issues and challenges. This paper therefore highlights the various issues with respect to talent management, its challenges, implementation, myths etc.