Talent management and new generation workforce

In the present Global scenario, it has become necessary for the organizations to retain the available workforce, upgrade its talent and manage the same for the competitive environment. This paper explains the concept of Talent Management and New Generation Workforce and its correlation in Indian organizations with HR practices. The paper is divided in four parts. The first part explains the concept of talent management, its need, nature, significance, evolution and development, issues at global level, present scenario at Global and Indian level, etc. The second part explains the concept of new generation workforce, definition of different generations, need and significance of developing workforce in India and across the Globe, characteristics of generation Y, demands and needs by generation Y, Indian and Global picture of new generation work force and issues of new generation work force. In the third part, the Talent Management related to New Generation Workforce in India is explained. At present, the HR professionals are dealing with four different generations of employees in Indian organizations. The characteristics and demands of Indian generations are slightly differing than generations at Global level. This is discussed by past, present and future, expectations, dreams and fulfillments, behavioral issues of New Generation Work force. It is concluded in last part as HR professionals in Indian organizations should give more thrust on including changes within organizations for improving Talent Management processes specifically emphasizing on New Generation Workforce to face the Global competition.