A Study of Talent Management as a Strategic Tool for the Organization in Selected Indian IT Companies

Abstract

Over the past decade there has been a glut of management literature around the topic of talent management.  The challenge of effective talent management to support business growth has been consistently identified as a top priority among global CEOs. While the phrase "Talent Management" is relatively new as a concept, however as a management focus it has always been at the core of strategic HRM. Strategic   HRM   performs   an   enabling   and   investment    management role   for organizations. The HR leader as champion for organizational hurl\an resource management excellence is tasked with the primary responsibility of leading and strategizing comprehensive efforts to attract, develop, engage and retain a workforce that is competent to support strategy and strategic management efforts. Talent management systems and processes need to be integrated into the total HRM system of the  organization. Traditional roles of  HRM such as recruitment,  training, performance  management  and  compensation  need  to  be  aligned  to  support  the achievement   of   talent   management  goals  such  as  talent   turnover,   employee engagement, succession pipeline ratios, etc. This article addresses how recruitment and selection, a traditional function of HRM needs to be managed in an organizational context that has a focus on talent management. Expressed from a strategic business perspective, "Talent management may be defined as a core sub-system of an organization's strategic management system, to develop a human resource asset base that is capable to support current and future organizational growth directions and objectives".

Talent management may be described as comprising three key components:-

• Talent Identification
• Talent Development -Internal and external talent development
• Talent Engagement, motivation and retention

Keywords: Key words, Infosys, Tech Mahindra